WFCF Where Food Comes From Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 10, 2023

 

WHERE FOOD COMES FROM, INC.

(Exact Name of Registrant as Specified in its Charter)

 

Colorado		001-40314		43-1802805
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

 

202 6th Street, Suite 400
Castle Rock, Colorado		80104
(Address of Principal Executive Offices)		(Zip Code)

 

(303) 895-3002

(Registrant’s Telephone Number, Including Area Code)

 

Not applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value		WFCF		The NASDAQ Stock Market LLC

 

 

 

Item 2.02

Results of Operations and Financial Condition

 

Reference is made to the Where Food Comes From, Inc. (the “Company”) press release on August 10, 2023 and conference call transcript, attached hereto as Exhibits 99.1 and 99.2, respectively, and incorporated by reference herein (including, without limitation, the information set forth in the cautionary statement contained in the press release and conference call transcript), relating to the Company’s financial results for the three and six month period ended June 30, 2023.

 

Item 9.01

Financial Statements and Exhibits

 

(d)

Exhibits

 

	Exhibit No.		Description
	99.1		Press Release issued and dated August 10, 2023
	99.2		Transcript for August 10, 2023 conference call
	104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	WHERE FOOD COMES FROM, INC. (Registrant)
	By:	/s/ Dannette Henning
Date: August 14, 2023		Dannette Henning
		Chief Financial Officer

 

 

 

Exhibit 99.1

 

Where Food Comes From, Inc. Reports 2023 Second Quarter Financial Results

 

Second Quarter Highlights – 2023 vs. 2022

 

	●	Revenue increased 15% to $6.1 million from $5.3 million
	●	Net income increased 140% to $532,000 from $222,000
	●	Diluted EPS of $0.09 vs. $0.04
	●	Adjusted EBITDA increased 61% to $917,000 from $570,000
	●	Company buys back $836,000 of its stock in Q2, or 61,000 shares at average price of $13.70 per share

 

Six-Month Highlights – 2023 vs. 2022

 

	●	Revenue decreased 1% to $11.4 million from $11.5 million based on anomalous Q1 events
	●	Net income of $653,000 vs. $719,000
	●	Diluted EPS of $0.11 vs. $0.12
	●	Adjusted EBITDA of $1.3 million vs. $1.5 million
	●	Cash generated from operations declined to $1.3 million from $2.3 million
	●	Cash & cash equivalents at $3.4 million vs. $4.4 million at 2022 year-end, reflecting impact of stock buybacks
	●	Company buys back more than $2.0 million of its stock through first six months of 2023

 

CASTLE ROCK, Colo., Aug. 10, 2023 (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 second quarter and six-month period ended June 30, 2023.

 

“We are pleased to announce a solid second quarter highlighted by 15% revenue growth, a 140% increase in net income and 61% growth in adjusted EBITDA,” said John Saunders, chairman and CEO. “This strong performance underscores the resiliency of our company following a challenging first quarter in which we encountered several anomalous events that impacted both revenue and profitability. While we continue to deal with the effects of inflationary pressures and cyclical cattle trends, we are confident in our ability to drive long-term growth and profitability based on the broad scope of our product and service offerings combined and high customer retention rates. Accordingly, we continued our aggressive share repurchase program in the second quarter and, over the past 10 quarters, have returned a total of $7.5 million in value to stockholders through share buybacks and one special dividend.

 

“We also made important additions to our industry-leading solutions portfolio in the first half of 2023,” Saunders added. “In the second quarter we were named exclusive third-party verifier for the Bee Friendly Farming® Certification, a fast-growing program that supports farmers and ranchers implement regenerative practices to protect and promote pollinators. That followed our first quarter announcement that WFCF customer Certified Piedmontese Beef became the first brand to be certified to PaleoFLEX™, a Paleo Diet standard that is exclusively administered by Where Food Comes From. We now certify to 56 different standards – by far the most comprehensive solutions set in the industry – and have the unique ability to bundle multiple certifications to drive incremental revenue while reducing overall costs for our customers.”

 

 

Second Quarter Results – 2023 vs. 2022

 
Revenue in the second quarter ended June 30, 2023, increased 15% year over year to $6.1 million from $5.3 million.

 

Revenue mix included:

 

	●	Verification and certification services, up 21% to $4.8 million from $4.0 million.
	●	Product revenue, up 7% to $0.94 million from $0.88 million.
	●	Consulting revenue, down 16% to $0.4 million from $0.5 million.

 

Gross profit in the second quarter increased 18% year over year to $2.5 million from $2.1 million.

 

Selling, general and administrative expense was flat year over year at $1.8 million.

 

Operating income increased 115% to $0.7 million from $0.3 million in the same quarter last year.

 

Net income increased 140% year over year to $532,000, or $0.09 per diluted share, from $222,000, or $0.04 per diluted share.

 

Adjusted EBITDA in the second quarter was up 61% to $917,000 from $570,000.

 

The Company bought back approximately $836,000 of its common stock in the second quarter, or 61,000 shares at an average price of $13.70 per share.

 

Six Month Results – 2023 vs. 2022

 
Total revenue in the first half of 2023 decreased 1% to $11.4 million from $11.5 million in the same period last year.

 

Revenue mix included:

 

	●	Verification and certification services, up 11% to $8.6 million from $7.7 million.
	●	Product revenue was flat at $1.9 million.
	●	Consulting revenue, down 52% year over year to $0.9 million from $1.9 million, due primarily to execution of a large, non-recurring project with a Japanese government entity in the first quarter of 2022.

 

Gross profit in the first half of 2023 was up slightly to $4.6 million from $4.5 million.

 

Selling, general and administrative expense increased 6% year over year to $3.8 million from $3.6 million.

 

Operating income declined 12% year over year to $0.8 million from $0.9 million.

 

Net income in the first half was $653,000, or $0.11 per diluted share, compared to net income of $719,000, or $0.12 per diluted share, in the same period last year.

 

Adjusted EBITDA through six months was $1.3 million versus $1.5 million a year ago.

 

The cash and cash equivalents balance at June 30, 2023, declined to $3.4 million from $4.4 million at 2022 year-end due primarily to the Company’s aggressive share repurchase program. Through the first six months of 2023, the Company bought back more than $2.0 million of its shares.

 

 

The Company will conduct a conference call today at 10:00 a.m. Mountain Time.

 

Call-in numbers for the conference call:

 
Domestic Toll Free: 1-877-407-8289
International: 1-201-689-8341
Conference Code: 13740472

 

Phone replay:

 
A telephone replay of the conference call will be available through September 10, 2023, as follows:

 
Domestic Toll Free: 1-877-660-6853
International: 1-201-612-7415
Conference Code: 13736422

 

About Where Food Comes From, Inc.

 
Where Food Comes From, Inc. is America’s trusted resource for third party verification of food production practices. Through proprietary technology and patented business processes, the Company estimates that it supports more than 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands and restaurants with a wide variety of value-added services. Through its IMI Global, Validus Verification Services, SureHarvest, WFCF Organic, and Postelsia units, Where Food Comes From solutions are used to verify food claims, optimize production practices and enable food supply chains with analytics and data driven insights. In addition, the Company’s Where Food Comes From® retail and restaurant labeling program uses web-based customer education tools to connect consumers to the sources of the food they purchase, increasing meaningful consumer engagement for our clients.

 

*Note on non-GAAP Financial Measures

 
This press release and the accompanying tables include a discussion of EBITDA and Adjusted EBITDA, which are non-GAAP financial measures provided as a complement to the results provided in accordance with generally accepted accounting principles (“GAAP”). The term “EBITDA” refers to a financial measure that we define as earnings (net income or loss) plus or minus net interest plus taxes, depreciation and amortization. Adjusted EBITDA excludes from EBITDA stock-based compensation and, when appropriate, other items that management does not utilize in assessing WFCF’s operating performance (as further described in the attached financial schedules). None of these non-GAAP financial measures are recognized terms under GAAP and do not purport to be an alternative to net income as an indicator of operating performance or any other GAAP measure. We have reconciled Adjusted EBITDA to GAAP net income in the Consolidated Statements of Income table at the end of this release. We intend to continue to provide these non-GAAP financial measures as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting.

 

CAUTIONARY STATEMENT

 
This news release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Forward-looking statements are inherently uncertain, and actual events could differ materially from the Company’s predictions. Important factors that could cause actual events to vary from predictions include those discussed in our SEC filings. Specifically, statements in this news release about industry leadership, diversity of services mix, potential for consumer trends to benefit the Company, ability to continue returning value and delivering positive results for stockholders, and demand for, and impact and efficacy of, the Company’s products and services on the marketplace are forward-looking statements that are subject to a variety of factors, including availability of capital, personnel and other resources; competition; governmental regulation of the agricultural industry; the market for beef and other commodities; and other factors. Financial results for 2023 and the Company’s pace of stock buybacks are not necessarily indicative of future results. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update its forward-looking statements to reflect new information or developments. For a more extensive discussion of the Company’s business, please refer to the Company’s SEC filings at www.sec.gov.

 

Company Contacts:

 

John Saunders
Chief Executive Officer
303-895-3002

 

Jay Pfeiffer
Director, Investor Relations
303-880-9000
jpfeiffer@wherefoodcomesfrom.com

 

 

Where Food Comes From, Inc.

Statements of Income (Unaudited)

 

		Three months ended June 30,								Six months ended June 30,
(Amounts in thousands, except per share amounts)		2023				2022				2023				2022
Revenues:
Verification and certification service revenue		$	4,779			$	3,964			$	8,585			$	7,748
Product sales			938				878				1,909				1,885
Consulting revenue			409				489				899				1,854
Total revenues			6,126				5,331				11,393				11,487
Costs of revenues:
Costs of verification and certification services			2,736				2,325				4,932				4,361
Costs of products			555				522				1,123				1,059
Costs of consulting			329				354				689				1,540
Total costs of revenues			3,620				3,201				6,744				6,960
Gross profit			2,506				2,130				4,649				4,527
Selling, general and administrative expenses			1,833				1,817				3,821				3,591
Income from operations			673				313				828				936
Other income/(expense):
Dividend income from Progressive Beef			50				50				100				100
Gain on disposal of assets			5				-				5				-
Loss on foreign currency exchange			(2	)			(23	)			(4	)			(35	)
Other income, net			11				1				20				1
Interest expense			(1	)			(1	)			(2	)			(2	)
Income before income taxes			736				340				947				1,000
Income tax expense			204				118				294				281
Net income		$	532			$	222			$	653			$	719
Per share - net income:
Basic		$	0.09			$	0.04			$	0.12			$	0.12
Diluted		$	0.09			$	0.04			$	0.11			$	0.12
Weighted average number of common shares outstanding:
Basic			5,670				6,013				5,693				6,053
Diluted			5,735				6,096				5,760				6,136

 

 

Where Food Comes From, Inc.

Calculation of Adjusted EBITDA*

(Unaudited)

 

		Three months ended June 30,								Six months ended June 30,
(Amounts in thousands)		2023				2022				2023				2022
Net income		$	532			$	222			$	653			$	719
Adjustments to EBITDA:
Interest expense			1				1				2				2
Income tax expense			204				118				294				281
Depreciation and amortization			163				197				335				392
EBITDA*			900				538				1,284				1,394
Adjustments:
Stock-based compensation			17				32				32				83
Cost of acquisitions			-				-				-				-
ADJUSTED EBITDA*		$	917			$	570			$	1,316			$	1,477

 

*Use of Non-GAAP Financial Measures: Non-GAAP results are presented only as a supplement to the financial statements and for use within management’s discussion and analysis based on U.S. generally accepted accounting principles (GAAP). The non-GAAP financial information is provided to enhance the reader’s understanding of the Company’s financial performance, but non-GAAP measures should not be considered in isolation or as a substitute for financial measures calculated in accordance with GAAP. Reconciliations of the most directly comparable GAAP measures to non-GAAP measures are provided herein.

 

All of the items included in the reconciliation from net income to EBITDA and from EBITDA to Adjusted EBITDA are either (i) non-cash items (e.g., depreciation, amortization of purchased intangibles, stock-based compensation, etc.) or (ii) items that management does not consider to be useful in assessing the Company’s ongoing operating performance (e.g., M&A costs, income taxes, gain on sale of investments, loss on disposal of assets, etc.). In the case of the non-cash items, management believes that investors can better assess the Company’s operating performance if the measures are presented without such items because, unlike cash expenses, these adjustments do not affect the Company’s ability to generate free cash flow or invest in its business.

 

We use, and we believe investors benefit from the presentation of, EBITDA and Adjusted EBITDA in evaluating our operating performance because it provides us and our investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes do not directly reflect our core operations. We believe that EBITDA is useful to investors and other external users of our financial statements in evaluating our operating performance because EBITDA is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, and depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired.

 

Because not all companies use identical calculations, the Company’s presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. However, these measures can still be useful in evaluating the Company’s performance against its peer companies because management believes the measures provide users with valuable insight into key components of GAAP financial disclosures.

 

 

Where Food Comes From, Inc.

Balance Sheets

 

		June 30,				December 31,
(Amounts in thousands, except per share amounts)		2023				2022
		(Unaudited)				(Audited)
Assets
Current assets:
Cash and cash equivalents		$	3,410			$	4,368
Accounts receivable, net of allowance			2,205				2,172
Inventory			1,196				888
Prepaid expenses and other current assets			713				463
Total current assets			7,524				7,891
Property and equipment, net			860				998
Right-of-use assets, net			2,460				2,607
Equity investments			1,191				991
Intangible and other assets, net			2,179				2,340
Goodwill, net			2,946				2,946
Deferred tax assets, net			514				523
Total assets		$	17,674			$	18,296
Liabilities and Equity
Current liabilities:
Accounts payable		$	713			$	640
Accrued expenses and other current liabilities			1,001				769
Deferred revenue			1,841				1,278
Current portion of finance lease obligations			13				9
Current portion of operating lease obligations			323				341
Total current liabilities			3,891				3,037
Finance lease obligations, net of current portion			48				37
Operating lease obligation, net of current portion			2,593				2,745
Total liabilities			6,532				5,819
Commitments and contingencies
Equity:
Preferred stock, $0.001 par value; 5,000 shares authorized; none issued or outstanding			-				-
Common stock, $0.001 par value; 95,000 shares authorized; 6,508 (2023) and 6,501 (2022) shares issued, and 5,631 (2023) and 5,775 (2022) shares outstanding			6				6
Additional paid-in-capital			12,223				12,145
Treasury stock of 877 (2023) and 727 (2022) shares			(9,329	)			(7,263	)
Retained earnings			8,242				7,589
Total equity			11,142				12,477
Total liabilities and stockholders’ equity		$	17,674			$	18,296

 

 

 

Exhibit 99.2

 

Where Food Comes From, Inc.

2023 Second Quarter Conference Call

Call date: Thursday August 10, 2023

Call time: 10:00 a.m. Mountain Time

 

Jay Pfeiffer – Investor Relations

 

Good morning and welcome to the Where Food Comes From 2023 second quarter 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’ll make forward-looking statements based on current expectations, estimates and projections that are subject to risk. Statements about current and future financial performance, growth strategy, customers, business opportunities, market acceptance of our products and services, and potential acquisitions are forward looking statements. Listeners should not place undue reliance on these statements as there are many factors that could cause actual results to differ materially from our forward-looking statements. We encourage you to review our publicly filed documents as well as our news releases and website for more information. Today we’ll also discuss Adjusted EBITDA, a non-GAAP financial measure provided as a complement to GAAP results. Please refer to today’s earnings release for important disclosures regarding non-GAAP measures.

 

I’ll now turn the call over to John Saunders.

 

John Saunders

 

Good morning and thanks for joining the call today.

 

This morning we announced our second quarter financial results for the period ended June 30, 2023. We were very pleased with the results – following as they did a challenging first quarter in which we faced a confluence of headwinds that negatively impacted both our top and bottom lines. The strong results we delivered in Q2 underscore the resiliency of our unique business model. We have by far the industry’s most expansive solutions portfolio and are able to provide a level of value that fosters customer loyalty and high customer retention rates.

 

Going forward, we may experience a continuation of certain headwinds over the next several quarters, particularly in the area of inflationary pressures and cyclical cattle trends. But again, we believe our diversification and dominant position in the beef industry – combined with the impact of new solutions coming on line – will keep us on a path of long-term sustainable growth and profitability.

 

Now to our Q2 results…

 

Revenue in second quarter increased 15% to $6.1 million from $5.3 million in the same quarter last year. That growth included a 21% increase in core verification and certification revenue and a 7% increase in product sales, partially offset by a 16% decline in consulting revenue.

 

Higher revenue and a stable expense base led to a 140% increase in net income – to $532,000, or 9 cents per diluted share, from $222,000, or 4 cents per diluted share, in the second quarter last year.

 

 

Adjusted EBITDA in the quarter totaled $917,000, up 61% from $570,000 in the year-ago second quarter.

 

The strong Q2 performance helped us make up some ground on our year-to-date numbers. Six-month revenue pulled nearly flat at $11.4 million vs. $11.5 million last year. You’ll recall that the year-ago total included a non-recurring $850,000 consulting fee booked in the first quarter of 2022. Absent that – on an apples-to-apples basis – six-month revenue this year would have been well ahead of prior year levels. Again, verification and certification revenue led the way with 11% growth year-over-year.

 

Net income at the mid-year point was $653,000, or 11 cents per diluted share, vs. $719,000, or 12 cents per diluted share, for the same period last year.

 

Adjusted EBITDA was $1.3 million vs. $1.5 million.

 

We generated $1.3 million in cash from operations year-to-date and closed the quarter with $3.4 million in cash and cash equivalents, which was down from $4.4 million at year-end due to the continuation of our stock repurchase program.

 

Speaking of which – during the second quarter we bought back $836,000 of stock, raising our year-to-date total repurchases to more than $2.0 million. Over the past 10 quarters we have returned approximately $7.5 million in value to stockholders through buybacks and a special dividend. The Board intends to continue considering buybacks and other value creating measures for the foreseeable future.

 

Turning to some business highlights, you’ve often heard me speak about the diversity of our business model and the resulting benefits that accrue to us as a company and to our customers. The breadth and depth of our solutions portfolio is what sets us apart and what is responsible for the wide moat we have built around our business.

 

We have been busy this year expanding on what was already far and away the industry’s largest solutions set. In the first quarter, one of our long-time customers – Certified Piedmontese Beef – became the first brand to be certified to PaleoFLEX diet, which is a relatively new standard of the Paleo Diet that is exclusively administered by Where Food Comes From.

 

In the second quarter we were named exclusive third-party verifier for the Bee Friendly Farming certification – a program that helps farmers and ranchers protect critical pollinators through implementation of regenerative policies within their operations.

 

With these two additions, Where Food Comes From and its divisions now certify customers to 56 different standards. This diversity affords us a distinct competitive advantage as it positions us as a true one-stop-shop able to offer customers convenience and price advantages through the bundling of multiple verification services.

 

On a related note, in the second quarter we continued to advance our aquaculture initiative through an investment in seafood traceability company BlueTrace, a privately-held tech company that helps players in the North American shellfish industry comply with government regulations, manage their inventories and optimize profitability. We are now collaborating with BlueTrace to strengthen our respective aquaculture efforts.

 

BlueTrace is currently focused on the North American seafood industry, but our aquaculture initiative is very much geared toward global opportunities. The cornerstone of this effort is our FishCARE sustainability standard, which helps seafood producers adhere to higher standards of care for seafood products, employees and the environment.

 

We are making steady inroads with this project – particularly as it pertains to shrimp – in Asian markets, where the majority of shrimp consumed in North America is farmed but where less than 5% of producers are compliant with any broadly recognized certification. We’re still in the early stages of this effort, but we believe it holds excellent potential to grow into a meaningful revenue stream over time.

 

So in conclusion, with another good quarter behind us, we continue to execute our business plan and look forward to talking to you following our third quarter.

 

Thank you again for joining us on the call today. Operator, you may know open the call to questions…

 

 

Question and Answer Session:

 

Question 1: John Nelson

 

Hi, good morning and thanks for taking my call. I was just curious; shrimp interests me a lot because I know a lot of them do come from Asia. How is that going to work in terms of you guys certifying those? Are you going to have to build out a lot of measurement services over in Asia? And does that change your overall growth rate of the company and given the TAM there? And do you think it will increase your growth rate? And how soon do you think that business will be profitable? So a couple of questions there. Sorry about that.

 

John Saunders

 

Yes. No, that’s great, John. Thanks for the questions. In 2021 – we acquired Postelsia. Postelsia had a large footprint in Southeast Asia through a program called ASIC, the Asian Seafood Innovation Consortium. That program has been around for about 15 years, John, and they’ve – there’s a number of different certification bodies over there that we’ve worked with in the past that we’re evaluating using in addition to creating our own infrastructure, but I think one of the things that we really believe is an opportunity there is to partner or potentially acquire certification opportunities and businesses that currently exist. So we will have a little bit different evolution of the FishCARE standard and specifically the shrimp care standard in Southeast Asia because it’s a global opportunity for us, and it’s a new growth strategy for us. But we’re very excited about the potential we think that it has. It has some of the same dynamics of the cattle industry in the United States, which is really a key driver for us in that there’s a lot of fragmentation currently in the business. There’s a lot of different types of production systems.

 

So we’re very excited about. The forecast, I would say, is probably still 12 to 24 months away for us before we really start to understand the trends and where it’s coming from, but there is no doubt, it’s a huge growth opportunity for us, and there’s so many consumers here in the United States and around the world that are looking for more information around shrimp. And I’ll kind of finish with this and back to the BlueTrace comment. One of the things that’s lacking in shrimp, you probably know this, John, is there’s really no true traceability related to where the shrimp is coming from, so we see that the opportunity for sustainable certification is there, but we really believe that the core opportunity is just providing with BlueTrace or with other technologies to create a traceability system within the shrimp industry. And that’s kind of what we’re tackling right now just trying to figure out that. So you have to know where it comes from before you can really certify much about it. But great question. And hopefully, you get some of my excitement about it because it’s an industry that we think there’s a lot of opportunity in.

 

Operator

 

This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.

 

 

v3.23.2

Cover	Aug. 10, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 10, 2023
Entity File Number	001-40314
Entity Registrant Name	WHERE FOOD COMES FROM, INC.
Entity Central Index Key	0001360565
Entity Tax Identification Number	43-1802805
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	202 6th Street,
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Castle Rock
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80104
City Area Code	(303)
Local Phone Number	895-3002
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	WFCF
Security Exchange Name	NASDAQ

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