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 (WFCF) provides independent verification services ensuring transparency across the global food supply chain. This news hub delivers timely updates on corporate developments, regulatory compliance milestones, and industry leadership in food certification.
Access official press releases covering earnings results, sustainability initiatives, and strategic partnerships. Investors will find critical updates on verification program expansions, technology implementations, and market positioning within the food safety sector.
Key content includes announcements about organic certification innovations, non-GMO verification processes, and the Upcycled Certified program. Track WFCF's role in advancing supply chain transparency through third-party audits and data-driven quality assurance solutions.
Bookmark this page for consolidated access to WFCF's latest operational developments. Return regularly to stay informed about how the company maintains its position as a trusted authority in food production verification.
Where Food Comes From, Inc. (WFCF) has appointed Jason Franco as Chief Technology Officer, effective August 18, 2021. Franco, who served as Senior Vice President of Technology since 2018, aims to drive technical innovation within the agricultural supply chain. His focus will be on enhancing secure platforms for traceability and verification of claims made by producers. The company leverages proprietary technology to service over 15,000 customers, including farmers and retailers, enhancing food production practices and consumer engagement. This leadership change underscores WFCF's commitment to technology.
Where Food Comes From, Inc. (WFCF) reported a 16% increase in revenue for Q2 2021, reaching $5.1 million compared to $4.4 million in Q2 2020. However, net income declined to $0.2 million from $0.4 million, resulting in diluted EPS of $0.03 versus $0.06. The gross margin also dipped to 39.1% from 47.6% due to a shift towards lower-margin audits. For the first half of 2021, revenue increased 15% to $9.6 million, with significant profit growth despite declining cash generated from operations.
Where Food Comes From, Inc. (WFCF) will announce its 2021 second quarter financial results before the market opens on August 5, 2021. A conference call is scheduled for the same day at 10:00 a.m. Mountain Time (12:00 p.m. Eastern). Investors can connect to the call via designated dial-in numbers, and a replay option will be available until August 26, 2021. The company is noted for providing third-party verification of food production practices, supporting over 15,000 clients across various sectors with a range of value-added services.
Where Food Comes From, Inc. (WFCF) declared a special cash dividend of $0.15 per share on July 1, 2021, totaling approximately $920,000. This dividend will be paid to stockholders of record as of July 27, 2021, with a payment date set for August 16, 2021. The company’s chairman and CEO, John Saunders, emphasized the decision was based on a strong balance sheet and solid cash flow, indicating the remaining cash balance is adequate to support growth initiatives.
Where Food Comes From (WFCF) reported a 14% revenue increase to $4.4 million in Q1 2021, compared to $3.9 million in Q1 2020. Gross margin improved to 41.9%, while net income reached $1.2 million, bolstered by $1 million in PPP loan forgiveness.
Adjusted EBITDA was $348,000, recovering from a loss of $44,000. The company saw a 10% decrease in SG&A expenses, and cash and equivalents rose 14% to $5.0 million. Despite positive growth, the company highlighted ongoing challenges from Covid-19 affecting verification activities.
Where Food Comes From, Inc. (WFCF) announced it will release its 2021 first quarter financial results on May 6, 2021, before the market opens. A conference call will follow at 10:00 a.m. MT (12:00 p.m. ET) to discuss these results. Interested parties can access the call via domestic and international dial-in numbers. The company specializes in third-party verification of food production practices, supporting over 15,000 clients across various sectors.
Where Food Comes From, Inc. (WFCF) announced that its common stock will start trading on the Nasdaq Capital Market from April 12, 2021. This uplisting is expected to enhance the company's visibility and attract institutional investors, according to CEO John Saunders. The Nasdaq exchange is known for supporting emerging growth companies, which aligns with WFCF's strategic growth objectives. The company also cautioned that the potential benefits of this uplisting are subject to various risks and uncertainties, as outlined in their SEC filings.
Where Food Comes From, Inc. (WFCF) has launched the WFCF CARE Certified program with Heinen’s grocery chain for beef, pork, and Gerber Poultry products. This initiative aims to enhance sustainability through three pillars: Animal Care, Environmental Stewardship, and People and Community. Heinen’s is the first retailer to adopt this certification, showcasing the CARE Certified logo on its packaging. Leann Saunders, COO of WFCF, highlighted the importance of transparency and consumer trust in protein supply chains, marking a significant collaboration since Heinen's partnership began in 2011.
Where Food Comes From, Inc. (WFCF) reported its 2020 financial results, revealing a 3% decline in revenue to $20.1 million largely due to the pandemic's impact on non-beef protein audits. Despite this, the company achieved a record net income of $1.4 million, maintaining a diluted EPS of $0.22. The gross margin improved to 44.5%, although adjusted EBITDA fell to $3.0 million. Cash reserves rose significantly to $4.4 million. While the outlook for 2021 indicates continued challenges, the company is optimistic about its growth prospects in sustainability and food quality initiatives.
Where Food Comes From (WFCF) has been named the exclusive Certification Body for the new Upcycled Certification Standard aimed at reducing food waste and promoting the upcycled food economy. This standard is essential as over 40% of food grown is wasted annually, totaling 62.5 million tons in the U.S. alone. The upcycled food industry is projected to exceed $46 billion in value, with consumer interest growing. WFCF's role in this movement aligns it with significant sustainability trends, enhancing its market positioning and potential revenue growth.
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