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 | |||
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ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 4,368 | 5,414 | 4,374 | 2,896 | 1,728 | 3,449 | |||
Cash and cash equivalents | 4,368 | 5,414 | 4,374 | 2,638 | 1,482 | 2,706 | |||
Short-term investments | 258 | 246 | 743 | ||||||
Receivables | 2,172 | 2,178 | 2,508 | 2,515 | 2,205 | 1,899 | |||
Inventory, net of allowances, customer advances and progress billings | 888 | 767 | |||||||
Inventory | 888 | 767 | |||||||
Deferred tax assets | ✕ | ✕ | ✕ | ✕ | ✕ | 176 | 80 | ||
Other undisclosed current assets | 463 | 325 | 592 | 450 | 264 | 165 | |||
Total current assets: | 7,891 | 8,684 | 7,474 | 5,861 | 4,373 | 5,593 | |||
Noncurrent Assets | |||||||||
Finance lease, right-of-use asset, after accumulated amortization | 21 | ✕ | ✕ | ||||||
Operating lease, right-of-use asset | 2,823 | 3,030 | 3,247 | ✕ | ✕ | ||||
Property, plant and equipment | 998 | 1,295 | 1,616 | 1,545 | 1,675 | 1,068 | |||
Long-term investments and receivables | 991 | 991 | 991 | 991 | 253 | ||||
Long-term investments | 991 | 991 | 991 | 991 | 253 | ||||
Intangible assets, net (including goodwill) | 5,286 | 5,504 | 5,873 | 6,173 | 6,996 | 6,601 | |||
Goodwill | 2,946 | 2,946 | 2,946 | 2,946 | 3,144 | 2,652 | |||
Intangible assets, net (excluding goodwill) | 2,340 | 2,558 | 2,927 | 3,227 | 3,852 | 3,949 | |||
Deferred income tax assets | 523 | 464 | 443 | 378 | ✕ | ✕ | |||
Other noncurrent assets | 23 | 21 | 20 | ||||||
Other undisclosed noncurrent assets | 2,607 | 1,167 | 80 | ||||||
Total noncurrent assets: | 10,405 | 11,100 | 11,974 | 12,376 | 10,091 | 7,748 | |||
TOTAL ASSETS: | 18,296 | 19,784 | 19,448 | 18,237 | 14,464 | 13,341 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities, including: | 1,409 | 1,157 | 1,248 | 674 | 420 | 555 | |||
Taxes payable | ✕ | ✕ | 171 | 20 | 255 | ||||
Employee-related liabilities | ✕ | ✕ | 201 | 148 | 148 | ||||
Accounts payable | 640 | 447 | 649 | ||||||
Accrued liabilities | 769 | 710 | 599 | ||||||
Other undisclosed accounts payable and accrued liabilities | 302 | 252 | 152 | ||||||
Deferred revenue | 1,278 | 1,513 | 1,132 | 797 | ✕ | ✕ | |||
Debt | 9 | 13 | 476 | 248 | 21 | 17 | |||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 728 | ✕ | ||
Other undisclosed current liabilities | 341 | 313 | 268 | 1,023 | 534 | 1,308 | |||
Total current liabilities: | 3,037 | 2,996 | 3,124 | 2,741 | 1,703 | 1,881 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 37 | 3,039 | 3,860 | 3,547 | 65 | 68 | |||
Long-term debt, excluding current maturities | 572 | 32 | 42 | ||||||
Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | 33 | 25 | ||
Finance lease, liability | 37 | 19 | 31 | 21 | ✕ | ✕ | |||
Liabilities, other than long-term debt | 2,745 | 119 | |||||||
Deferred rent credit | 119 | ✕ | |||||||
Operating lease, liability | 2,745 | 3,020 | 3,257 | 3,525 | ✕ | ✕ | |||
Other undisclosed noncurrent liabilities | (3,020) | (3,257) | 362 | 147 | |||||
Total noncurrent liabilities: | 2,782 | 3,039 | 3,860 | 3,547 | 546 | 215 | |||
Total liabilities: | 5,819 | 6,035 | 6,984 | 6,288 | 2,249 | 2,096 | |||
Temporary equity, carrying amount | 1,449 | 1,575 | |||||||
Equity | |||||||||
Equity, attributable to parent | 12,477 | 13,749 | 12,464 | 11,949 | 10,766 | 9,671 | |||
Common stock | 6 | 6 | 6 | 26 | 25 | 25 | |||
Treasury stock, value | (7,263) | (3,807) | (2,702) | (1,664) | (1,109) | (725) | |||
Additional paid in capital | 12,145 | 11,955 | 11,612 | 11,425 | 11,031 | 10,353 | |||
Retained earnings | 7,589 | 5,595 | 3,548 | 2,163 | 818 | 17 | |||
Total equity: | 12,477 | 13,749 | 12,464 | 11,949 | 10,766 | 9,671 | |||
TOTAL LIABILITIES AND EQUITY: | 18,296 | 19,784 | 19,448 | 18,237 | 14,464 | 13,341 |
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 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 24,845 | 56,000 | 20,076 | 20,774 | 17,804 | 15,448 | ||
Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 14,045 | |
Revenue from related parties | ✕ | 48 | 56,000 | 39 | 5 | 8 | ✕ | |
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: | 10,468 | 9,737 | 8,928 | 9,079 | 7,744 | 6,821 | ||
Operating expenses | (7,434) | (7,241) | (6,739) | |||||
Other undisclosed operating loss | (7,816) | (7,527) | (6,869) | |||||
Operating income: | 2,652 | 2,303 | 1,687 | 1,552 | 875 | 82 | ||
Nonoperating income | 217 | 191 | 159 | 129 | 14 | 15 | ||
Investment income, nonoperating | 250 | 200 | 150 | 120 | ||||
Gain (loss), foreign currency transaction, before tax | (38) | (11) | 2 | |||||
Other nonoperating income | 5 | 2 | 7 | 9 | 14 | 15 | ||
Interest and debt expense | (3) | (6) | (13) | (10) | (5) | (2) | ||
Income from continuing operations before equity method investments, income taxes: | 2,866 | 2,488 | 1,833 | 1,672 | 884 | 95 | ||
Other undisclosed income (loss) from continuing operations before income taxes | (50) | 1,132 | 14 | (189) | 100 | |||
Income from continuing operations before income taxes: | 2,816 | 3,620 | 1,847 | 1,483 | 984 | 95 | ||
Income tax expense | (822) | (659) | (462) | (460) | (309) | (266) | ||
Income (loss) from continuing operations: | 1,994 | 2,961 | 1,385 | 1,023 | 675 | (171) | ||
Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 2,961 | 1,385 | 1,023 | 675 | (171) | |
Net income (loss): | 1,994 | 2,961 | 1,385 | 1,023 | 675 | (171) | ||
Net income attributable to noncontrolling interest | 322 | 126 | 313 | |||||
Net income available to common stockholders, diluted: | 1,994 | 2,961 | 1,385 | 1,345 | 801 | 142 |
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): | 1,994 | 2,961 | 1,385 | 1,023 | 675 | (171) | ||
Comprehensive income (loss): | 1,994 | 2,961 | 1,385 | 1,023 | 675 | (171) | ||
Comprehensive income, net of tax, attributable to noncontrolling interest | 322 | 126 | 313 | |||||
Comprehensive income, net of tax, attributable to parent: | 1,994 | 2,961 | 1,385 | 1,345 | 801 | 142 |
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.