Where Food Comes From, Inc. (WFCF) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Where Food Comes From reported revenue of $24.9M, down 3.3% from $25.7M the year before. Net income was $1.5M (a 6.2% net margin), or $0.30 per diluted share. Gross margin was 38.2% and operating margin was 4.8%. Operating activities generated $1.6M of cash, leaving $1.5M of free cash flow. At fiscal year end, Where Food Comes From held $12.9M in total assets against $3.6M in total liabilities, including $3.2M of cash and equivalents.
Open the full interactive Where Food Comes From financials → Quarterly statements, key ratios, valuation history and price charts.
Where Food Comes From Key Stats
| Share Price | $14.26 |
|---|---|
| Market Cap | $71.7M |
| P/E Ratio | 47.5 |
| Revenue YoY Growth | -3.3% |
| 52-Week Range | $9.23 – $18.13 |
| Shares Outstanding | 5.0 million (basic, 2026 Q2) |
Where Food Comes From Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $20.1M | $21.9M | $24.8M | $25.1M | $25.7M | $24.9M |
| Gross Profit | $8.9M | $9.7M | $10.5M | $10.5M | $10.6M | $9.5M |
| Operating Income | $1.7M | $2.3M | $2.7M | $2.7M | $2.2M | $1.2M |
| Pre-Tax Income | $1.8M | $3.6M | $2.8M | $3.1M | $3.0M | $2.2M |
| Income Tax | $462,000 | $659,000 | $822,000 | $913,000 | $859,000 | $693,000 |
| Net Income | $1.4M | $3.0M | $2.0M | $2.2M | $2.1M | $1.5M |
| Diluted EPS | $0.22 | $0.48 | $0.33 | $0.39 | $0.40 | $0.30 |
Where Food Comes From Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $7.0M | $6.0M | $5.4M | $6.6M |
| Net Income | $1.1M | -$203,000 | $92,000 | $413,000 |
| Diluted EPS | $0.22 | -$0.04 | $0.02 | $0.08 |
Where Food Comes From Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.4M | $5.4M | $4.4M | $2.6M | $2.0M | $3.2M |
| Current Assets | $7.5M | $8.7M | $7.9M | $6.2M | $5.5M | $6.3M |
| Total Assets | $19.4M | $19.8M | $18.3M | $16.3M | $15.3M | $12.9M |
| Current Liabilities | $3.1M | $3.0M | $3.0M | $3.0M | $3.2M | $3.1M |
| Total Long-Term Debt | $1.0M | — | — | — | — | — |
| Total Liabilities | $7.0M | $6.0M | $5.8M | $5.5M | $5.4M | $3.6M |
| Shareholders' Equity | $12.5M | $13.7M | $12.5M | $10.8M | $9.9M | $9.3M |
Where Food Comes From Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $2.5M | $3.0M | $2.7M | $2.8M | $2.7M | $1.6M |
| Cash From Investing | -$730,000 | -$3,000 | -$267,000 | -$648,000 | -$159,000 | $1.7M |
| Cash From Financing | $14,000 | -$2.0M | -$3.4M | -$3.9M | -$3.2M | -$2.1M |
| Free Cash Flow | $2.0M | $2.8M | $2.6M | $2.7M | $2.6M | $1.5M |
| Dividends Paid | — | $914,000 | — | — | — | — |
Figures from Where Food Comes From's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Where Food Comes From financials page for every line item.
Where Food Comes From Company Profile
| Ticker | WFCF |
|---|---|
| Exchange | Nasdaq |
| Industry | Prepackaged Software (Services) |
| Headquarters | Castle Rock, Colorado |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001360565 |
Frequently Asked Questions
What was Where Food Comes From's revenue in fiscal 2025?
Where Food Comes From (WFCF) reported revenue of $24.9M for fiscal 2025.
What is Where Food Comes From's annual revenue history?
Where Food Comes From's annual revenue by fiscal year: 2020: $20.1M; 2021: $21.9M; 2022: $24.8M; 2023: $25.1M; 2024: $25.7M; 2025: $24.9M.
What was Where Food Comes From's net income in fiscal 2025?
Where Food Comes From reported net income of $1.5M for fiscal 2025.
What was Where Food Comes From's earnings per share (EPS) in fiscal 2025?
Where Food Comes From's diluted EPS was $0.30 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Where Food Comes From generate in fiscal 2025?
Where Food Comes From generated $1.5M of free cash flow in fiscal 2025.
What was Where Food Comes From's revenue last quarter?
In its most recent reported quarter (2026 Q2), Where Food Comes From reported revenue of $6.6M.
How many shares of Where Food Comes From are outstanding?
Where Food Comes From reported a weighted average of 5.0 million basic shares outstanding in 2026 Q2.
What is Where Food Comes From's market cap?
Based on its latest closing price, Where Food Comes From (WFCF) has a market capitalization of about $71.7M.
When does Where Food Comes From's fiscal year end?
Where Food Comes From's fiscal year end, as registered with the SEC, is December 31.
Where is Where Food Comes From headquartered?
Where Food Comes From lists its business address in Castle Rock, Colorado in its SEC filings.