Where Food Comes From Q2 revenue up 3% to $6.6 mln
Overview
Where Food Comes From Q2 revenue rises 3% yr/yr to $6.6 mln
Net income for Q2 up 15% yr/yr, aided by digital asset gain
Co sells Progressive Beef interest, enhancing financial flexibility
Outlook
Company expects CARE Certified beef in 110 retail locations by year-end
Company plans to expand retail labeling program in 2026
Company sold interest in Progressive Beef to boost financial flexibility
Result Drivers
VERIFICATION SERVICES - Increased demand for CARE Certified and UpCycled programs drove revenue growth despite smaller cattle herd sizes
HARDWARE SALES - Growth in hardware sales attributed to customer preferences for value-add tags
COMPENSATION EXPENSES - Competitive labor market and increased hardware costs negatively impacted gross margins
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $6.60 mln |
|
Q2 EPS |
| $0.11 |
|
Q2 Gross Profit |
| $2.50 mln |
|
Press Release: ID:nGNX7kpP3z
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