Where Food es From(WFCF) - 2024 Q4 - Annual Results

Financial Performance - Total revenue for 2024 increased by 2% to $25.7 million compared to$25.1 million in 2023[9] - Net income for 2024 was $2.1 million, or$0.40 per diluted share, down slightly from $2.2 million, or$0.39 per diluted share in 2023[11] - Verification and certification services revenue for the full year rose by 6% to $20.6 million from$19.4 million[15] - Gross profit for the full year increased slightly to $10.6 million from$10.5 million[10] - Cash generated from operations in 2024 was $2.7 million, compared to$2.8 million in 2023[12] - In Q4 2024, total revenue was flat at $6.7 million, with verification and certification revenue at$5.4 million, down from $5.5 million in Q4 2023[4][6] - Gross profit in Q4 2024 declined by 7$2.8 million from $3.0 million in Q4 2023[5] Expenses and Shareholder Returns - Selling, general and administrative expenses for 2024 increased to$8.4 million from $7.8 million, primarily due to higher marketing and personnel costs[11] - The company repurchased a total of 273,057 shares for$3.3 million in 2024, with a total of $13.9 million returned to shareholders since the buyback program began[3] Future Outlook - The company expects to continue utilizing solid cash flows to reduce share float while investing in new programs and services to strengthen its beef business[3]