Where Food Comes From, Inc. (WFCF) Financial Statements (2024 and earlier)

Company Profile

Business Address 202 6TH STREET
CASTLE ROCK, CO 80104
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,3685,4144,3742,8961,7283,449
Cash and cash equivalents4,3685,4144,3742,6381,4822,706
Short-term investments    258246743
Receivables2,1722,1782,5082,5152,2051,899
Inventory, net of allowances, customer advances and progress billings888767    
Inventory888767    
Deferred tax assets17680
Other undisclosed current assets463325592450264165
Total current assets:7,8918,6847,4745,8614,3735,593
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    21
Operating lease, right-of-use asset  2,8233,0303,247
Property, plant and equipment9981,2951,6161,5451,6751,068
Long-term investments and receivables991991991991253 
Long-term investments991991991991253 
Intangible assets, net (including goodwill)5,2865,5045,8736,1736,9966,601
Goodwill2,9462,9462,9462,9463,1442,652
Intangible assets, net (excluding goodwill)2,3402,5582,9273,2273,8523,949
Deferred income tax assets523464443378
Other noncurrent assets  232120  
Other undisclosed noncurrent assets2,607   1,16780
Total noncurrent assets:10,40511,10011,97412,37610,0917,748
TOTAL ASSETS:18,29619,78419,44818,23714,46413,341
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,4091,1571,248674420555
Taxes payable  17120255
Employee-related liabilities  201148148
Accounts payable640447649   
Accrued liabilities769710599   
Other undisclosed accounts payable and accrued liabilities    302252152
Deferred revenue1,2781,5131,132797
Debt9134762482117
Contract with customer, liability728
Other undisclosed current liabilities3413132681,0235341,308
Total current liabilities:3,0372,9963,1242,7411,7031,881
Noncurrent Liabilities
Long-term debt and lease obligation373,0393,8603,5476568
Long-term debt, excluding current maturities   572 3242
Capital lease obligations3325
Finance lease, liability37193121
Liabilities, other than long-term debt2,745   119 
Deferred rent credit     119
Operating lease, liability2,7453,0203,2573,525
Other undisclosed noncurrent liabilities  (3,020)(3,257) 362147
Total noncurrent liabilities:2,7823,0393,8603,547546215
Total liabilities:5,8196,0356,9846,2882,2492,096
Temporary equity, carrying amount     1,4491,575
Equity
Equity, attributable to parent12,47713,74912,46411,94910,7669,671
Common stock666262525
Treasury stock, value(7,263)(3,807)(2,702)(1,664)(1,109)(725)
Additional paid in capital12,14511,95511,61211,42511,03110,353
Retained earnings7,5895,5953,5482,16381817
Total equity:12,47713,74912,46411,94910,7669,671
TOTAL LIABILITIES AND EQUITY:18,29619,78419,44818,23714,46413,341

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues24,84556,00020,07620,77417,80415,448
Revenue, net14,045
Revenue from related parties4856,0003958
Cost of revenue(14,377)(12,195)(11,148)(11,695)(10,060)(8,628)
Cost of goods and services sold      (7,856)
Other undisclosed gross profit  (34,068)    
Gross profit:10,4689,7378,9289,0797,7446,821
Operating expenses  (7,434)(7,241)  (6,739)
Other undisclosed operating loss(7,816)  (7,527)(6,869) 
Operating income:2,6522,3031,6871,55287582
Nonoperating income2171911591291415
Investment income, nonoperating250200150120  
Gain (loss), foreign currency transaction, before tax(38)(11)2   
Other nonoperating income52791415
Interest and debt expense(3)(6)(13)(10)(5)(2)
Income from continuing operations before equity method investments, income taxes:2,8662,4881,8331,67288495
Other undisclosed income (loss) from continuing operations before income taxes(50)1,13214(189)100 
Income from continuing operations before income taxes:2,8163,6201,8471,48398495
Income tax expense(822)(659)(462)(460)(309)(266)
Income (loss) from continuing operations:1,9942,9611,3851,023675(171)
Income (loss) before gain (loss) on sale of properties:2,9611,3851,023675(171)
Net income (loss):1,9942,9611,3851,023675(171)
Net income attributable to noncontrolling interest    322126313
Net income available to common stockholders, diluted:1,9942,9611,3851,345801142

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):1,9942,9611,3851,023675(171)
Comprehensive income (loss):1,9942,9611,3851,023675(171)
Comprehensive income, net of tax, attributable to noncontrolling interest    322126313
Comprehensive income, net of tax, attributable to parent:1,9942,9611,3851,345801142

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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