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Where Food Comes From

WFCF

Where Food Comes From, Inc. is a leading independent provider of third-party verification and traceability services for the food and agriculture industry in North America.

Market cap
$65.56M+10.9%
Revenue$25.0M-1.8%
Net income$1.8M-13.6%
Free cash flow$2.6M-3.1%
EPS (diluted)$0.36-10.0%
Trailing twelve months · change vs. prior year

Earnings

Q4 2025 report

February 26, 2026

Next report

Aug 6, 2026 (in a month)

Financials

Q1 2026

Income statement

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Revenue$5.4M+1.7%
Gross profit$2.0M-6.9%
Operating income$298.0K+110%
Net income$92.0K+197%
EPS (diluted)$0.02+100%

Balance sheet

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Cash & equivalents$3.3M+46.6%
Total debt$849.0K-65.7%
Total equity$9.2M-4.1%
Total assets$13.2M-13.1%

Cash flow

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Operating cash flow$523.0K-17.2%
CapEx$148.0K+410%
Free cash flow$375.0K-37.8%

Valuation & ratios

Valuation

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Market cap$65.56M+10.9%
Enterprise value$63.13M+8.1%
P/E35.8×
P/S2.6×+0.3×

Profitability

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Gross margin37.4%-3.5pp
Operating margin5.7%-2.5pp

Returns & leverage

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Debt / equity0.1×-0.2×
Current ratio1.9×+0.3×

Segments

By product

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Verification And Certification Service Revenue$4.4M+5.8%
Professional Services$228.0K-41.4%

Competitors

Profile

Where Food Comes From, Inc. is a leading independent provider of third-party verification and traceability services for the food and agriculture industry in North America. The company verifies food production practices and labeling claims, such as organic, non-GMO, and humane handling, to ensure accuracy and transparency for consumers and retailers. Its core value proposition lies in bridging the trust gap between food producers and consumers through rigorous auditing, technology solutions, and certification programs.

Competitive position

The company is one of the nation's largest independent third-party traceability and verification providers, distinguished by its ability to bundle multiple standards into a 'one-stop shop' for the food supply chain.

GeographiesNorth America, United States
Customer segmentsAgricultural Producers, Food Processors, Grocery Retailers, Restaurant Chains
Business modelAudit and Certification, Professional Services, Direct-to-Business Sales
SuppliersEar tag manufacturers, Software infrastructure providers, Accreditation and standard-setting bodies
CustomersBeef and pork packers, Specialty retail chains, Consumer packaged goods companies, Restaurants and chefs
Listed1999
Employees103.0
CEOJohn K. Saunders
FilingsSEC EDGAR

Questions, answered.

What is Where Food Comes From's market cap?
Where Food Comes From (WFCF) has a market capitalization of $65.6M and trades on NASDAQ.
What is Where Food Comes From's revenue and profitability?
Where Food Comes From generated $25.0M in trailing twelve-month revenue with net income of $1.8M, representing a net margin of 10.6%. Gross margin stands at 37.4%, with free cash flow of $2.6M. These figures are based on the Q1 2026 filing.
Who are Where Food Comes From's competitors?
Where Food Comes From's key competitors include Neogen Corp, Tyson Foods, Inc., Phibro Animal Health Corporation Class A, and others. These companies compete in similar markets and product categories.
Who does Where Food Comes From partner with?
Where Food Comes From's notable partners include Tyson Foods, McDonald's, The Kroger Co, and others.
What subsidiaries does Where Food Comes From have?
Where Food Comes From's subsidiaries include IMI Global, JVF Consulting, LLC.
Where is Where Food Comes From headquartered?
Where Food Comes From is headquartered in United States of America and employs approximately 103 people. It has been publicly traded since 1999.