Where Food Comes From (WFCF)

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Where Food Comes From, Inc. is a verification and certification company serving the food and agriculture supply chain. The company provides independent audits that help confirm whether claims made about livestock, crops, aquaculture products, and other agricultural goods are accurate. Its work supports producers, processors, retailers, restaurants, distributors, trade groups, vineyards, wineries, and other participants that need credible documentation for food attributes and production practices.

The company operates through a family of verification and certification businesses, including International Certification Services and Validus Verification Services. Its services can involve on-site inspections, desk audits, record reviews, and program compliance checks. These processes are used to validate claims related to areas such as animal welfare, source verification, sustainability practices, production standards, and other value-added food attributes. By providing third-party confirmation, Where Food Comes From helps companies differentiate products and gives buyers more confidence in label and supply chain claims.

Most of the company’s revenue comes from verification and certification services, although it also provides professional consulting. This consulting can help clients prepare for audits, understand program requirements, and implement systems that support traceability and compliance. The company’s market opportunity is linked to growing consumer, retailer, and regulatory interest in transparency across food production and sourcing.

Where Food Comes From occupies a specialized niche within the broader food system. Rather than producing or selling food itself, it acts as an independent trust layer between producers and the marketplace. Its value depends on the credibility of its standards, the reliability of its audit network, and demand for verified claims in premium and regulated food categories.

10.75 USD
−0.32 (-2.86%)

Last updated

Market Cap
56.04M
P/E
35.09
P/FCF
45.78
P/S
2.24
Enterprise Value
52.78M
Sector
Industrials
Industry
Prepackaged Software
Address
202 6TH STREET, CASTLE ROCK, CO, 80104
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18 Nov 2025, 18:52 PM
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Where Food Comes From Schedules 2025 Third Quarter Earnings Call

11 Nov 2025, 17:00 PM
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21 May 2024, 13:04 PM
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Where Food Comes From, Inc. Schedules 2024 First Quarter Earnings Call

30 Apr 2024, 21:22 PM
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22 Apr 2024, 16:00 PM
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Where Food Comes From, Inc. Schedules 2023 Year End Earnings Call

12 Feb 2024, 21:01 PM
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Where Food Comes From, Inc. Acquires Upcycled Certified® Program as Reducing Food Waste Through Upcycling Becomes Fastest Growing Consumer Trend

27 Dec 2023, 13:00 PM
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Where Food Comes From, Inc. Reports 2023 Third Quarter Financial Results

09 Nov 2023, 13:30 PM
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Where Food Comes From, Inc. Schedules Third Quarter Earnings Call

06 Nov 2023, 13:00 PM
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Smart Catch™ Program Joins Where Food Comes From, Expanding its Commitment to Sustainability

30 Oct 2023, 13:00 PM
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Where Food Comes From, Inc. Reports 2023 Second Quarter Financial Results

10 Aug 2023, 13:00 PM
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Where Food Comes From, Inc. Schedules Second Quarter Earnings Call

07 Aug 2023, 16:45 PM
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Where Food Comes From, Inc. Named Exclusive Third-Party Verifier for Bee Friendly Farming® Certification with Silk Canada and KIND Snacks the Initial Brands to Participate in the Program

22 May 2023, 13:00 PM
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Where Food Comes From, Inc. Schedules First Quarter Earnings Call

08 May 2023, 21:01 PM
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Where Food Comes From, Inc. Schedules Earnings Call for 2022 Fourth Quarter and Full Year Financial Results

17 Feb 2023, 13:00 PM
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Where Food Comes From, Inc. Reports 2022 Third Quarter and Nine-Month Financial Results

14 Nov 2022, 13:30 PM
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Where Food Comes From, Inc. Schedules 2022 Second Quarter Conference Call

05 Aug 2022, 16:59 PM
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Where Food Comes From, Inc. Schedules 2022 First Quarter Conference Call

06 May 2022, 13:30 PM
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Where Food Comes From, Inc. Schedules Fourth Quarter Conference Call

18 Feb 2022, 13:00 PM
Market Cap
56.04M
Enterprise Value
52.78M
P/E
35.09
P/B
6.09
P/S
2.24
EV / EBITDA
26.48
EV / Sales
2.11
EPS
0.32
Dividend Yield
0%
P/FCF
45.78
P/CF
37.41
Free Cash Flow
1.22M
ROE
17.36%
ROA
12.07%
Debt / Equity
0
Current Ratio
1.88
Quick Ratio
1.65
Cash
0.91
Avg Volume
31.19K
Fundamentals Snapshot Price
11.12

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Revenue 5.37M 6.04M 7.02M 6.56M 5.27M
Gross profit 2.04M 2.17M 2.69M 2.46M 2.2M
Operating income 298K -60K 575K 549K 142K
EBITDA 452K 109K 724K 708K 315K
Net income 92K -203K 1.15M 562K 31K
Basic EPS 0.02 -0.04 0.22 0.11 0.01
Diluted EPS 0.02 -0.04 0.22 0.11 0.01

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Total assets 13.23M 12.9M 16.85M 16.62M 15.21M
Total liabilities 4.03M 3.59M 6.56M 6.65M 5.62M
Total equity 9.2M 9.31M 10.3M 9.97M 9.59M
Cash & equivalents 3.28M 3.2M 4.76M 3.2M 2.24M
Current assets 6.83M 6.28M 8.53M 7.12M 5.73M
Current liabilities 3.62M 3.09M 4.54M 4.55M 3.52M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Operating cash flow 523K -707K 501K 1.18M 632K
Investing cash flow -148K -34K 1.78M -34K -29K
Financing cash flow -294K -818K -722K -184K -377K
Change in cash 81K -1.56M 1.56M 963K 226K
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