Welcome to our dedicated page for Where Food Comes From news (Ticker: WFCF), a resource for investors and traders seeking the latest updates and insights on Where Food Comes From stock.
Where Food Comes From, Inc. (Nasdaq: WFCF) is a third-party food verification company that regularly issues news about its verification standards, certification programs and financial performance. As America’s trusted resource for third party verification of food production practices, the company uses proprietary technology and patented business processes to support thousands of producers, brands and retailers across the food supply chain.
News about WFCF often highlights developments in its certification portfolio, such as the CARE Certified sustainability standard, the Upcycled Certified® program for upcycled food ingredients, and RaiseWell® Certified, a standard for natural livestock production and cattle verification. Announcements may cover new program launches, collaborations with supply chain partners, and applications of its standards in areas like beef, dairy, eggs and sustainable leather.
Investors following WFCF news will also find regular earnings releases and conference call notices, where the company discusses trends in verification and certification revenue, product sales and professional services. These updates provide insight into how demand for verification services, sustainability certifications and upcycled food programs is affecting the business.
In addition, WFCF news can feature partnerships with retailers, foodservice operators and manufacturers that adopt its labeling and certification programs, as well as commentary from company leadership on market dynamics affecting beef herds, tariffs, and consumer interest in responsibly produced and traceable foods.
For anyone tracking WFCF stock or the evolution of third-party food verification, this news page offers a centralized view of the company’s program launches, financial updates and supply chain collaborations. Readers can use it to monitor how new standards, such as RaiseWell Certified and CARE Certified sustainable leather, are being implemented and how they contribute to the company’s overall strategy.
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Where Food Comes From (WFCF) has made an equity investment in BlueTrace, a seafood traceability technology provider. BlueTrace offers a cloud-based solution tailored for compliance and profitability in the shellfish industry. With over 350 customers across the U.S. and Canada, the company aims to expand its seafood traceability services as regulations become stricter. The investment follows BlueTrace's successful stock offering, intended to support its growth. WFCF plans to leverage its expertise to enhance blueTrace's initiatives and increase market reach, addressing the growing demand for traceability in seafood due to the Food Safety Modernization Act.
Where Food Comes From, Inc. (WFCF) reported a 13% revenue increase for 2022, reaching $24.8 million compared to $21.9 million in 2021. However, net income fell to $2.0 million from $3.0 million the previous year due to the absence of PPP loan forgiveness. Diluted EPS was $0.33, down from $0.48. Despite challenges such as inflation and labor costs, the company accelerated its share buyback program, purchasing $3.5 million of stock. In Q4 2022, revenue increased to $6.1 million, but net income decreased to $490,000.
Where Food Comes From, Inc. (WFCF) has announced it will release its 2022 fourth quarter and full-year financial results on February 23, 2023, before the market opens. A conference call will follow at 10:00 a.m. Mountain Time (12:00 p.m. Eastern), with dial-in options provided for both domestic and international participants. The company offers third-party verification services for food production, supporting around 17,500 clients through various units, including IMI Global and Validus Verification Services. WFCF is focused on enhancing food supply chain transparency and consumer engagement.
Where Food Comes From, Inc. (WFCF) announced that Lone Creek Cattle Company's Certified Piedmontese Beef is the first brand in North America to receive certification to The Paleo Diet® standard. This certification aims to enhance food labeling clarity for over six million Paleo-inspired consumers in the U.S. The Certified Piedmontese Beef boasts a nutritional profile lower in calories and fat, yet higher in protein compared to other beef varieties, making it a preferred option for health-conscious individuals. The certification was established under the newly launched PaleoFLEX™ program, supported by scientific research and consumer demand.
Where Food Comes From, Inc. (WFCF) will ring the Nasdaq closing bell on January 5, 2023, celebrating its recent up-listing to the exchange. The event signifies a milestone in the company's evolution and will be livestreamed and broadcast in Times Square. Co-Founders John and Leann Saunders will speak, highlighting the company's consistent revenue and profit growth attributed to its focus on diverse food certifications. WFCF serves over 17,500 entities across the food industry, utilizing proprietary technology for verification and consumer engagement.
Where Food Comes From, Inc. (WFCF) reported a 11% revenue increase in Q3 2022 to $7.3 million, compared to $6.5 million in Q3 2021. However, net income decreased by 9% to $785,000, resulting in diluted EPS of $0.13. For the nine-month period, revenue grew 16% to $18.8 million, but net income fell to $1.5 million from $2.2 million last year. The company bought back 108,733 shares in Q3 and reported a slight decrease in gross margins. Despite inflationary pressures, management remains optimistic about long-term expansion opportunities.