Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.6M | $15.4M | $17.8M | $20.8M | $20.1M | $21.9M | $24.8M | $25.1M | $25.7M | $24.9M |
| Revenue growth | — | 33.0% | 15.2% | 16.7% | -3.4% | 9.2% | 13.3% | 1.2% | 2.4% | -3.3% |
| Gross profit | $5.41M | $6.82M | $7.74M | $9.08M | $8.93M | $9.74M | $10.5M | $10.5M | $10.6M | $9.51M |
| Gross margin | 46.6% | 44.2% | 43.5% | 43.7% | 44.5% | 44.4% | 42.1% | 41.9% | 41.0% | 38.2% |
| Operating income | $634K | $82.2K | $875K | $1.55M | $1.69M | $2.30M | $2.65M | $2.70M | $2.21M | $1.21M |
| Operating margin | 5.5% | 0.5% | 4.9% | 7.5% | 8.4% | 10.5% | 10.7% | 10.7% | 8.6% | 4.8% |
| Net income | $433K | $142K | $801K | $1.34M | $1.39M | $2.96M | $1.99M | $2.15M | $2.12M | $1.54M |
| Net margin | 3.7% | 0.9% | 4.5% | 6.5% | 6.9% | 13.5% | 8.0% | 8.6% | 8.2% | 6.2% |
| EPS (diluted) | $0.02 | $0.01 | $0.03 | $0.22 | $0.22 | $0.48 | $0.33 | $0.39 | $0.40 | $0.30 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $986K | $657K | $1.15M | $2.88M | $2.45M | $3.02M | $2.65M | $2.82M | $2.73M | $1.61M |
| Capital expenditures | $446K | $83.8K | $367K | $369K | $464K | $213K | $89.0K | $148K | $159K | $155K |
| Free cash flow | $540K | $573K | $787K | $2.51M | $1.99M | $2.81M | $2.56M | $2.67M | $2.57M | $1.45M |
| Share buybacks | $347K | $200K | $385K | $555K | $1.04M | $1.10M | $3.46M | $3.96M | $2.24M | $2.17M |
| Dividends paid | — | — | — | — | — | $914K | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.49M | $2.71M | $1.48M | $2.64M | $4.37M | $5.41M | $4.37M | $2.64M | $2.01M | $3.20M |
| Total assets | $12.9M | $13.3M | $14.5M | $18.2M | $19.4M | $19.8M | $18.3M | $16.3M | $15.3M | $12.9M |
| Total liabilities | $1.57M | $2.10M | $2.25M | $6.29M | $6.98M | $6.04M | $5.82M | $5.47M | $5.37M | $3.59M |
| Long-term debt | — | — | — | — | $572K | — | — | — | — | — |
| Shareholders' equity | $9.43M | $9.67M | $10.8M | $11.9M | $12.5M | $13.7M | $12.5M | $10.8M | $9.93M | $9.30M |
| Retained earnings | -$125K | $17.4K | $818K | $2.16M | $3.55M | $5.59M | $7.59M | $9.74M | $12.0M | $2.40M |
| Shares (wtd avg diluted) | 24.0M | 24.8M | 25.0M | 6.26M | 6.22M | 6.18M | 6.04M | 5.55M | 5.33M | 5.17M |
Every figure is extracted from Where Food Comes From, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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