WFCF posted modest revenue growth and a return to profitability, but gross margin compression and declining professional services revenue temper the narrative. The aggressive buyback program continues to reduce float, which may support the stock. Monitor upcoming quarters for margin stabilization and expansion of the RaiseWell program beyond beef.
Price Chart
Executive Summary
Where Food Comes From reported Q1 2026 revenue of $5.4M, up 1.7% YoY from $5.3M, and net income of $92K ($0.02/share) vs $31K ($0.01/share) a year ago. Gross margins compressed to 39% from 42% due to higher insurance and personnel costs, while SG&A fell 15% on foregone bonuses. The company continues aggressive buybacks, repurchasing 24,469 shares for $293K in the quarter.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue $5.4M vs $5.3M YoY (+1.7%)
- Net income $92K ($0.02/diluted share) vs $31K ($0.01) YoY
- Gross margin declined to 39% from 42% YoY on higher insurance and personnel costs
- SG&A reduced 15% to $1.7M due to foregone 2025 bonus compensation
- Verification & certification revenue grew to $4.4M from $4.2M; professional services revenue fell to $228K from $389K
- Operating cash flow $523K vs $632K YoY
- Company bought back 24,469 shares at $293K in Q1; cumulative buybacks 1.4M shares at ~$15.5M
- Digital assets held at $478K, with $135K fair market value loss in the quarter
Financial Impact
Revenue growth of ~$92K YoY; net income improvement of $61K; gross margin contraction of 300bps
Risk Factors
- Gross margin pressure from higher insurance and personnel costs may persist
- Professional services revenue declining 41% YoY signals potential client attrition or project completion
- Small herd sizes and tariff headwinds cited by management could pressure core verification revenue
- Digital asset holdings ($478K) subject to mark-to-market volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3294996 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | Press Release | $12.76 $13.36 | ▲ +4.70% | ▲ +4.28% | $14.75 (+15.60%) |
Oct 1, 2026 25d ago | EFFECT | $12.94 $13.99 | ▲ +8.11% | ▲ +6.81% | $14.75 (+13.99%) |
Sep 25, 2026 4w ago | S-3/A | $10.79 $12.73 | ▲ +17.96% | ▲ +18.18% | $14.75 (+36.68%) |
Sep 22, 2026 4w ago | S-3/A | $11.70 $10.90 | ▼ −6.84% | ▼ −5.65% | $14.75 (+26.07%) |
Sep 18, 2026 5w ago | S-3/A | $11.03 $10.79 | ▼ −2.16% | ▼ −3.43% | $14.75 (+33.73%) |
Sep 15, 2026 5w ago | 10-Q/A | $13.00 $11.03 | ▼ −15.15% | ▼ −15.97% | $14.75 (+13.46%) |
Sep 9, 2026 6w ago | 10-K/A | $12.70 $13.10 | ▼ −3.15% | ▼ −4.24% | $14.75 (−16.14%) |
Aug 10, 2026 11w ago | 8-K | $12.56 $12.34 | ▼ −1.71% | ▼ −1.67% | $14.75 (+17.48%) |
Aug 6, 2026 11w ago | S-3 | $12.69 $12.50 | ▼ −1.50% | ▼ −2.71% | $14.75 (+16.23%) |
Aug 6, 2026 11w ago | Press Release | $12.69 $12.50 | ▼ −1.50% | ▼ −2.71% | $14.75 (+16.23%) |
US Market Status
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