Where Food es From(WFCF)2024-11-14 16:21Revenue Performance - Verification and certification revenue increased by 9% to 13.9 million[1] - Product sales decreased by 8% to 3.1 million[1] - Total revenue rose by 4% to 18.4 million[1] Net Income and Earnings - Net income fell by 16% to 1.4 million, with diluted EPS of 0.24[1] - Net income for the three months ended September 30, 2024, was 723,000 for the same period in 2023[14] EBITDA - Adjusted EBITDA decreased by 15% to 2.5 million[8] - Adjusted EBITDA for the nine months ended September 30, 2024, was 2,485,000 for the same period in 2023[14] Cash Flow and Operations - Cash generated from operations increased by 6% to 2.6 million[8] - Cash and cash equivalents increased to 2,641,000 at December 31, 2023, showing a growth of 4.4%[18] Shareholder Actions - The company repurchased a total of 216,039 shares in 2024[9] Expenses - Selling, general and administrative expenses rose by 10% to 5.7 million[7] - The company reported a depreciation and amortization expense of 153,000 for the same period in 2023[14] Assets and Liabilities - Total current assets increased to 6,213,000 at December 31, 2023, reflecting a growth of 18.9%[18] - Total liabilities rose to 5,467,000 at December 31, 2023[18] - Accounts payable increased significantly to 567,000 at December 31, 2023, an increase of 54.0%[18] Equity and Retained Earnings - Retained earnings increased to 9,741,000 at December 31, 2023, reflecting a growth of 11.9%[18] - Total equity decreased to 10,819,000 at December 31, 2023, a decline of 12.6%[18] Future Outlook - The company anticipates growth in cattle enrollment due to new USDA electronic tag requirements[3] Deferred Revenue - Deferred revenue increased to 1,485,000 at December 31, 2023, an increase of 44.4%[18]