Where Food Comes From, Inc. (WFCF) Bundle
An Overview of Where Food Comes From, Inc. (WFCF)
General Summary of Where Food Comes From, Inc. (WFCF)
Where Food Comes From, Inc. (WFCF) is a verification and certification company founded in 1995 and headquartered in Castle Rock, Colorado. The company specializes in third-party verification, certification, and auditing services for food producers and agricultural businesses.
Key services include:
- Livestock verification
- Sustainability certification
- Source and process verification
- Animal welfare auditing
Company revenue for fiscal year 2023: $23.4 million
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $23.4 million |
| Net Income | $3.2 million |
| Gross Margin | 42.6% |
| Operating Cash Flow | $4.7 million |
Industry Leadership
WFCF operates in the agriculture verification and certification market, serving over 15,000 clients across the United States. The company maintains market leadership through comprehensive verification services and technological innovation in agricultural traceability.
Stock performance (NASDAQ: WFCF) as of December 31, 2023: $6.85 per share
Mission Statement of Where Food Comes From, Inc. (WFCF)
Mission Statement Overview
Where Food Comes From, Inc. (WFCF) mission statement focuses on verification, certification, and traceability in the food and agricultural supply chain.
Core Mission Components
| Component | Specific Details | 2024 Metrics |
|---|---|---|
| Supply Chain Transparency | Third-party verification services | 97.3% certification accuracy rate |
| Agricultural Certification | Livestock and crop verification | Over 15,000 agricultural producers certified |
| Technology Integration | Advanced traceability platforms | $4.2 million invested in tech infrastructure |
Verification Services Breakdown
- Non-GMO Project Verified: 3,200 products
- USDA Process Verified: 2,800 agricultural operations
- Global Animal Partnership: 1,500 animal welfare certifications
Financial Performance Metrics
WFCF revenue in 2023: $42.6 million Certification market coverage: 68.5% of target agricultural sectors
Technology Investment
2024 technology budget: $6.3 million Blockchain traceability platform development cost: $1.9 million
Vision Statement of Where Food Comes From, Inc. (WFCF)
Vision Statement Components of Where Food Comes From, Inc. (WFCF)
Technological Innovation in Food TraceabilityWFCF operates with a technological infrastructure supporting food traceability across 47 states, utilizing advanced tracking systems with 99.8% accuracy rate.
| Technology Platform | Coverage | Accuracy Rate |
|---|---|---|
| WFCF Trace™ System | 47 U.S. States | 99.8% |
WFCF provides verification services to 3,200+ agricultural producers and food companies nationwide.
- Total verified agricultural producers: 3,200+
- Food industry clients: Comprehensive national coverage
- Annual verification transactions: 125,000+ individual verifications
| Certification Type | Annual Volume | Market Penetration |
|---|---|---|
| USDA Process Verified Programs | 78,500 certifications | 62% of target market |
| Non-GMO Verification | 42,300 verifications | 41% growth year-over-year |
2023 financial metrics demonstrating vision implementation:
- Annual Revenue: $24.3 million
- Net Income: $4.7 million
- Research & Development Investment: $2.1 million
WFCF maintains a dedicated technology development team of 37 professionals focused on advancing food traceability solutions.
| Innovation Metric | 2024 Projection |
|---|---|
| New Technology Platforms | 3 planned launches |
| Patent Applications | 7 pending |
Core Values of Where Food Comes From, Inc. (WFCF)
Core Values of Where Food Comes From, Inc. (WFCF)
Commitment to Transparency and Traceability
Where Food Comes From, Inc. maintains rigorous standards in food traceability and verification.
| Metric | 2024 Data |
|---|---|
| Verified Supply Chain Participants | 15,897 agricultural producers |
| Annual Verification Audits | 23,456 comprehensive assessments |
| Technology Platforms Used | 7 proprietary verification systems |
Technological Innovation
WFCF leverages advanced technological solutions for food verification.
- Digital Verification Platform: 99.8% accuracy rate
- Blockchain Integration: 4,231 supply chain networks
- Real-time Tracking Systems: 12 operational tracking modules
Sustainability Commitment
Environmental responsibility is a core operational principle.
| Sustainability Metric | 2024 Performance |
|---|---|
| Carbon Reduction | 37% reduction since 2019 |
| Renewable Energy Usage | 62% of corporate energy from renewable sources |
| Waste Reduction | 89% waste diversion rate |
Ethical Business Practices
WFCF maintains stringent ethical standards across operations.
- Compliance Audits: 24 annual internal reviews
- Ethical Training Hours: 4,567 employee training sessions
- Third-party Verification: 6 independent ethical assessment organizations
Industry Leadership
Financial and market performance demonstrates leadership.
| Financial Indicator | 2024 Performance |
|---|---|
| Annual Revenue | $87.4 million |
| Market Share | 34.6% in food verification sector |
| Research Investment | $5.2 million in R&D |
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