Where Food Comes From, Inc. (NASDAQ:WFCF) Q1 2023 Earnings Conference Call May 15, 2023 ET Company Participants Jay Pfeiffer - Manager, Investor Relations John Saunders - Co-Founder, Chief Executive Officer & Chairman Conference Call Participants Operator Hello, and welcome to the Where Food Comes From First Quarter 2023 Earnings Conference Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. As a reminder this conference is being recorded. It's now my pleasure to ...

Financial Position - As of March 31, 2023, the company had cash and cash equivalents of approximately $3.4 million, down from $4.4 million at December 31, 2022[88] - The company’s working capital at March 31, 2023 was approximately $3.7 million, down from $4.9 million at December 31, 2022[88] - The company has a revolving line of credit agreement providing for $75,080 in working capital, with an effective interest rate of 9.5% as of March 31, 2023[96] Cash Flow - Net cash provided by operating activities for the three months ended March 31, 2023 was approximately $0.5 million, compared to $1.1 million during the same period in 2022[89] - Net cash used in investing activities for the three months ended March 31, 2023 was approximately $0.2 million, primarily related to an equity investment in BlueTrace[90] - Net cash used in financing activities for the three months ended March 31, 2023 was approximately $1.2 million, compared to $0.4 million in the same period in 2022, mainly due to the repurchase of common shares[91] Revenue Performance - For the three months ended March 31, 2023, total revenues were approximately $5.3 million, a decrease of 14.4% compared to $6.2 million for the same period in 2022[110] - Verification and certification service revenue for the three months ended March 31, 2023 was $3.8 million, slightly improved from $3.7 million in the same period in 2022[100] - Product sales decreased by 3.6% to $971,000 for the three months ended March 31, 2023, compared to $1.0 million in the same period in 2022[101] - Software and related consulting revenue decreased approximately 64.1% to $490,000 for the three months ended March 31, 2023, compared to $1.4 million in the same period in 2022[105] Profitability - Gross margin for the verification and certification segment was 42.1% for the three months ended March 31, 2023, down from 46.3% in 2022[102] - Gross margin for the software and related consulting segment improved to 26.5% for the three months ended March 31, 2023, compared to 13.1% in 2022[106] - Net income attributable to shareholders for the three months ended March 31, 2023 was approximately $0.1 million, down from $0.5 million in the same period in 2022[110] Expenses - Other operating expenses increased by approximately 15.4% for the three months ended March 31, 2023, primarily due to travel and marketing expenses[104] - The company recorded an income tax expense of approximately $90,000 for the three months ended March 31, 2023, compared to $163,000 for the same period in 2022[109] Strategic Focus - The company supports approximately 17,500 farmers and businesses through its verification services, indicating a broad market presence[72] - The company is focused on diversifying and bundling product offerings to capture growth opportunities in national and international markets[95] - The company’s verification solutions are the primary driver of operating cash flow, emphasizing the importance of revenue growth and gross margin[93] - The company monitors risks related to pandemics, inflation, and weather, indicating a proactive approach to risk management[76] Dividend Information - Dividend income from Progressive Beef for the three months ended March 31, 2023 was $50,000, consistent with the previous year[108]

Where Food Comes From, Inc. (NASDAQ:WFCF) Q4 2022 Earnings Conference Call February 23, 2023 12:00 PM ET Company Participants Jay Pfeiffer - Investor Relations John Saunders - Chief Executive Officer Conference Call Participants Chris Brown - Private Investor Operator Greetings and welcome to the Where Food Comes From Fourth Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jay Pfeiffer with Investor Relations. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K WHERE FOOD COMES FROM, INC. (Exact name of registrant as specified in its charter) (State of incorporation or organization) (I.R.S. Employer Identification No.) Colorado 43-1802805 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 202 6 Street, Suite 400 Castle Rock, CO 80104 (Address of principal executive offices, including zip code) ☐ TRANSITIO ...

Where Food Comes From, Inc. (NASDAQ:WFCF) Q3 2022 Results Conference Call November 14, 2022 12:00 PM ET Company Participants Jay Pfeiffer - Manager, IR John Saunders - CEO Dannette Henning - CFO Conference Call Participants Edward Reily - EF Hutton Raphi Savitz - RYS Advisors Operator Greetings, and welcome to the Where Food Comes From Third Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Jay ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended June 30, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

Where Food Comes From, Inc. (NASDAQ:WFCF) Q2 2022 Earnings Conference Call August 11, 2022 12:00 PM ET Company Participants Jay Pfeiffer - Manager, IR John Saunders - CEO Leann Saunders - President Dannette Henning - CFO Conference Call Participants Operator Greetings. Welcome to Where Food Comes From's Second Quarter Earnings Call. At this time, all participants will be in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. Please note this conferen ...

Where Food Comes From, Inc. (NASDAQ:WFCF) Q1 2022 Earnings Conference Call May 12, 2022 12:00 PM ET Company Participants Jay Pfeiffer – Investor Relations John Saunders – Chief Executive Officer Dannette Henning – Chief Financial Officer Conference Call Participants Edward Riley – EF Hutton Chris Brown – Oake Financial Operator Greetings. And welcome to the Where Food Comes From First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer ses ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended March 31, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (Exact name of registrant as specified in its charter) (State of incorporation or organiz ...