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Where Food Comes From (WFCF) investor relations material
Where Food Comes From Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Second quarter revenue rose 3% year-over-year to $6.6 million, driven by demand for CARE Certified and Upcycled programs and increased hardware sales.
Net income for Q2 increased 15% year-over-year to $562,000, or $0.11 per share, aided by a $172,000 gain in digital assets.
Six-month revenue declined slightly to $11.8 million from $12.0 million, with net income at $593,000, or $0.11 per share.
Retail labeling program expanded to two major retailers, with CARE Certified beef in over 110 locations by year-end.
Sale of 10% interest in Progressive Beef for $1.8 million in cash and return of 12,585 shares, strengthening the balance sheet.
Financial highlights
Q2 verification and certification revenue: $5.33 million vs. $5.25 million year-over-year; product sales: $964,000 vs. $819,000.
Q2 gross profit declined to $2.5 million from $2.7 million due to higher compensation and hardware costs.
Cash and cash equivalents at June 30, 2025: $3.2 million, up from $2.0 million at year-end 2024.
Year-to-date stock buybacks: 55,826 shares; total buybacks and private purchases since 2019: 1,247,462 shares, $14.6 million returned to shareholders.
Operating cash flow for six months: $1.8 million, down from $1.9 million year-over-year.
Outlook and guidance
Anticipates further expansion of retail labeling program, with potential for additional stores in 2026.
Continued investment in AI tools and technical talent to improve efficiency and scalability.
Expects strengthened balance sheet and financial flexibility following Progressive Beef sale.
Growth strategy focuses on diversification, bundling, and potential acquisitions.
New tax legislation may provide $61,000 in additional deductions for 2025.
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