WFCF Q1 2024 revenue $5.6M (+6%); net income up 47% to $178k

Where Food Comes From, Inc.

2024-Q1 EPS reported $0.03 revenue$5,582,000

Verification & certification revenue rose 17% to $4.4M from $3.8M; product revenue fell 25% to $0.7M.
Diluted EPS grew to $0.03 from $0.02; adjusted EBITDA up 8% to $432k.
Company repurchased 116,072 shares for $1.5M in Q1, totaling ~$11M returned over 13 quarters via buybacks and special dividend.
Cash from operations increased 48% to $0.7M; drought conditions continued to impact herd sizes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Where Food Comes From, Inc. reported the three month period ended March 31, 2024 results: revenue $5.6 million, net income $178,000, EPS $0.03 per diluted share.

Period: the three month period ended March 31, 2024
Revenue: $5.6 million
Net income: $178,000
EPS: $0.03 per diluted share
Result: reported results

Exact text from the filing

vs. 2023 ● Verification and certification revenue up 17% to $4.4 million from $3.8 million ● Product sales lower at $0.7 million vs. $1.0 million ● Total revenue increased to $5.6 million from $5.3 million ● Net income increased 47% to $178,000 from $121,000 ● Diluted EPS increased to $0.03 from $0.02 ● Adjusted EBITDA up 8% to $432,000 from $399,000 ● Company

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Source: SEC EDGAR

accession 0001493152-24-017585

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