Exhibit 99.1 Where Food Comes From, Inc. Reports 2024 First Quarter Financial Results First Quarter Highlights – 2024 vs. 2023 CASTLE ROCK, Colo., May 02, 2024 (GLOBE NEWSWIRE) — Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced financial results for its first quarter ended March 31, 2024. Operating income was 68% higher at $261,000 vs. $155,000. Net income increased 47% to $17 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Colorado 43-1802805 (I.R.S. Employer Identification No.) 202 6 Street, Suite 400 Castle Rock, CO 80104 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (303) 895-3002 Indicate by check mark ...

Where Food Comes From (NASDAQ:WFCF) 2023 Year-End Earnings Conference Call February 15, 2024 12:00 PM ET Company Participants Jay Pfeiffer – Director, Investor Relations John Saunders – Chief Executive Officer Conference Call Participants Raphi Savitz – RYS Advisors Jay Pfeiffer Good morning, and welcome to the Where Food Comes From 2023 Year-End Earnings Call. Joining me on the call today are CEO, John Saunders; President, Leann Saunders; and Chief Financial Officer, Dannette Henning. During this call, we' ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December 31, 2023 ☐ 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 organization) (I.R.S. Employer Identification No.) Colorado 43-1802805 202 6 Street, Suite 400 Castle Ro ...

Financial Data and Key Metrics Changes - Total revenue in Q3 2023 declined 4% to $7 million from $7.3 million in Q3 2022, primarily due to lower hardware revenue [10] - Verification and certification revenue increased 4% in Q3 to $5.4 million from $5.2 million, while product revenue decreased by $367,000 to $1.2 million [10] - Net income for Q3 was $723,000 or $0.13 per diluted share, compared to $785,000 or $0.13 per diluted share in Q3 2022 [11] - Adjusted EBITDA in Q3 was down slightly at $1.2 million from $1.3 million [11] - Year-to-date total revenue decreased 2% to $18.4 million from $18.8 million in the same period last year [12] Business Line Data and Key Metrics Changes - Verification and certification services revenue increased 8% year-to-date to $13.9 million from $12.9 million [13] - Product revenue decreased 10% year-to-date to $3.1 million from $3.5 million [13] - Consulting revenue was $1.3 million compared to $2.4 million in the prior year period, impacted by a one-time contract booked in Q1 2022 [13] Market Data and Key Metrics Changes - The company is experiencing headwinds due to smaller herd sizes related to cyclical cattle trends, affecting tag sales and overall revenue [5][8] - Customer retention rate is over 90%, indicating strong customer loyalty [9] Company Strategy and Development Direction - The acquisition of the Smart Catch program aims to accelerate its rollout and expand its scope, focusing on sustainability in seafood [15][16] - The company is exploring expansion opportunities in the seafood supply chain and other products beyond seafood [20] Management's Comments on Operating Environment and Future Outlook - Management noted an increased focus on sustainability, particularly regarding carbon footprint and supply chain traceability [24] - The company is actively involved in pilot projects under the USDA's Climate-Smart program, emphasizing its role in maintaining product traceability [24] Other Important Information - The company returned $855,000 to stockholders through stock buybacks in Q3, with year-to-date buybacks totaling nearly $3 million [6] - Cash and cash equivalents declined to $3.8 million from $4.4 million at the end of 2022, primarily due to share repurchases [14] Q&A Session Summary Question: Update on potential regulations driving demand for tags - Management indicated no significant movement other than the closure of a USDA comment period, with results expected early next year [22] Question: Future excitement and focus areas - Management expressed excitement about the increased focus on sustainability and the importance of carbon footprint tracking in supply chains [23] Question: Changes in competitive dynamics within auditing - Management noted no significant changes but highlighted challenges in finding qualified auditor staff as a limiting factor [25] Question: Capital allocation strategy - Management stated they are looking for M&A opportunities while continuing aggressive stock buybacks in the absence of other opportunities [26] Question: Update on the ADT program - Management confirmed ongoing collaboration with industry groups and continued momentum in traceability initiatives [28]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Colorado 43-1802805 (I.R.S. Employer Identification No.) 202 6 Street, Suite 400 Castle Rock, CO 80104 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (303) 895-3002 Indicate by check mark ...

Where Food Comes From, Inc. (NASDAQ:WFCF) Q2 2023 Earnings Conference Call August 10, 2023 12:00 PM ET Company Participants Jay Pfeiffer - Investor Relations John Saunders - Chief Executive Officer Leann Saunders - President Dannette Henning - Chief Financial Officer Conference Call Participants John Nelson - Private Investor Operator Greetings and welcome to Where Food Comes From Second Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now l ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended June 30, 2023 (State or other jurisdiction of incorporation or organization) Colorado 43-1802805 (I.R.S. Employer Identification No.) 202 6 Street, Suite 400 Castle Rock, CO 80104 (Address of principal executive offices, including ...

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]