Where Food Comes From Reports Q2 Results
Castle Rock, Colorado-based Where Food Comes From, Inc. (NASDAQ: WFCF) announced financial results for its second quarter ended June 30, 2025. Total revenue proved to be $6.6 Million vs. $6.4 Million in the prior-year quarter. Gross profit was lower at $2.5 million vs. $2.7 million, primarily reflecting increased compensation expense and hardware costs.
Selling, general and administrative expense decreased slightly to $1.9 million from $2.1 million due to lower marketing and trade show expense in the period.
Net income increased to $562,000, or $0.11 per diluted share, from $489,000, or $0.09 per diluted share, due to a $172,000 gain in fair market value of digital assets.
The Company bought back 24,481 shares of its common stock in the second quarter.
Said CEO John Saunders, “Second-quarter revenue was up 3% year over year despite ongoing headwinds related to smaller cattle herd sizes that have reduced beef verification activity. The revenue increase was driven by increasing demand for our other verification services, especially our CARE Certified and UpCycled programs, as well as an increase in hardware sales due to growing customer preferences for value-add tags.
“Our gross margins were negatively impacted by increased compensation expense due to a very competitive labor market as well as increased costs of hardware.
Shares in WFCF last closed at $11.26.
