Where Food Comes From Earnings Call Transcripts
Fiscal Year 2026
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Revenue and gross profit grew year-over-year, with improved margins and strong cash flow. Service diversification and new certifications offset beef segment headwinds, while aggressive share buybacks and renewed M&A focus position the company for future growth.
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Revenue grew nearly 2% year-over-year to $5.4 million, with profitability restored and new customer wins driving growth. The RaiseWell program launched successfully, and stock buybacks continued, reflecting optimism for long-term growth.
Fiscal Year 2025
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Revenue reached $24.9 million with net income of $1.5 million, as beef-related activity was impacted by herd contraction and a key plant closure. New certifications and non-beef segments grew, and share repurchases continued, positioning for future recovery.
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Q3 saw stable gross margins and strong net income growth, aided by gains from asset sales, despite a slight revenue decline. Diversified certification segments and high customer retention offset beef industry headwinds, while a robust balance sheet and ongoing innovation support future growth.
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Second quarter revenue rose 3% year-over-year to $6.6 million, with net income up 15% to $562,000. Growth in CARE Certified and hardware sales offset beef industry headwinds, while the sale of a Progressive Beef stake and ongoing share buybacks strengthened the balance sheet.
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Revenue declined 6% year-over-year in Q1 2025, mainly due to lower beef, poultry, and dairy verification activity, but gross margins held steady and customer retention remained high. Growth in Upcycle Certified and new retail partnerships are expected to offset headwinds.
Fiscal Year 2024
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Revenue was flat in Q4 and up 2% for the year, with net income slightly down year-over-year. Growth in diversified services offset beef business declines, and share repurchases and Bitcoin gains boosted shareholder value.
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Third quarter revenue grew slightly, but net income and adjusted EBITDA declined due to higher costs and beef industry headwinds. Regulatory changes in RFID tagging and organic certification are expected to expand future growth opportunities.
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Second quarter revenue grew 4% year-over-year, led by verification services, while product revenue declined due to smaller cattle herds and government-subsidized RFID tags. Share buybacks and new growth in upcycled food certification and biosecurity services were highlighted.