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Where Food Comes From (WFCF) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · Where Food Comes From (WFCF) Q2 2026 earnings results →
Q2 2026 Revenue up 1% year over year to $6.6M · 6¢ of every $1 of revenue kept as net profit · operating margin 10.1%
Where Food Comes From made $6.6M in Q2 2026 (+0.7% Y/Y): Verification and Certification Service Revenue $5.4M, Product $937K, Professional Services $285K. Operating margin 10.1%, net earnings $413K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $6.6M in Q2 2026, up 1% year over year and up 23% from the previous quarter. Verification and Certification Service Revenue was the largest line at 82% of revenue. Verification and Certification Service Revenue added $57K year over year (up 1%), 116% of the total change. Product declined 3%.
Gross margin was 40.6%, up 3.1 points from Q2 2025. Operating profit was $665K, a 10.1% margin (up 1.7 points year over year). Of the extra revenue versus Q2 2025, 237% reached operating profit, above the 8% margin then. Operating expenses grew 6% against revenue growth of 1%. Net earnings were $413K, down 27% year over year. The effective tax rate was 31.8%.
Operating cash flow was $937K (down 21% year over year), 227% of net earnings. Non-cash charges added back $179K of depreciation and amortization. Working capital and other items added $345K. Capital expenditures of $7K left free cash flow of $930K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $6.6M | +0.7% | 10.1% | $413K | $937K |
| Q1 2026 | 10-Q | May 14, 2026 | $5.4M | +2% | 5.6% | $92K | $523K |
| Q4 2025 | 10-K | Feb 26, 2026 | $6.0M | -9% | -1.0% | −$203K | −$707K |
| Q3 2025 | 10-Q | Nov 13, 2025 | $7.0M | -1% | 8.2% | $1.1M | $501K |
| Q2 2025 | 10-Q | Aug 7, 2025 | $6.6M | +3% | 8.4% | $562K | $1.2M |
| Q1 2025 | 10-Q | May 8, 2025 | $5.3M | -6% | 2.7% | $31K | $632K |
| Q4 2024 | 10-K | Feb 20, 2025 | $6.7M | -1% | 11.3% | $961K | −$50K |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Where Food Comes From
Where Food Comes From, Inc. and its subsidiaries (“WFCF,” the “Company,” “our,” “we,” or “us”) is a leading trusted resource for third-party verification of food production practices in North America. The Company estimates that it supports more than approximately 17,500 farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands, chefs and restaurants with a wide variety of value-added services provided through its family of verifiers. In order to have credibility, product claims such as gluten-free, non-GMO, non-hormone treated, humane handling, and others require verification by an independent third-party such as WFCF. The Company’s principal business is conducting both on-site and desk audits to verify that claims being made about livestock, aquaculture, crops and other food products are accurate.
In its own words, from its 10-K, filed Feb 26, 2026.
Where Food Comes From against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.7% against the peers' median +14%. Operating margin: 10.1% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WFCF Where Food Comes From | Q2 2026 | $6.6M | +0.7% | 10.1% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Where Food Comes From 10-Q on SEC EDGAR · CIK 1360565 · Services-Prepackaged Software
13F: who owns WFCF and who is buying
More on WFCF
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results
- Where Food Comes From gross margin by quarter
- Where Food Comes From operating margin by quarter
- Where Food Comes From net income by quarter
- Where Food Comes From free cash flow by quarter
- Where Food Comes From capital expenditures by quarter
- Where Food Comes From Verification and Certification Service Revenue revenue by quarter
- Where Food Comes From Product revenue by quarter
- Where Food Comes From Professional Services revenue by quarter