10-Q · May 14, 2026
Where Food Comes From, Inc. (WFCF) reported a mixed performance for Q1 2026, with revenue of $5.365 million, a 7% increase from Q1 2025. Gross margin slightly decreased to 38.0% from 41.6%. The diluted EPS improved to…
Earnings analysis · 10-Q
WFCF earnings analysis
Filed September 15, 2026 · Our reading of the company's report
The latest report
This filing is a Form 10-Q/A for the quarter ended March 31, 2026, focused solely on amended controls-and-procedures disclosures rather than quarterly financial results. Management reported that the ASC 842-related…
Read full summary
This filing is a Form 10-Q/A for the quarter ended March 31, 2026, focused solely on amended controls-and-procedures disclosures rather than quarterly financial results. Management reported that the ASC 842-related material weakness identified in February 2026 was fully remediated as of March 31, 2026, and that disclosure controls were effective at period-end. No revenue, margin, EPS, cash-flow, balance-sheet, segment, or numerical guidance updates are provided.
What stood out
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Lease-control weakness remediated
Management stated that the material weakness related to ASC 842 lease accounting was fully remediated as of March 31, 2026, after additional analysis and procedures during the first quarter.
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Amendment scope is limited
The amendment is limited to updating Item 4 and adding new Section 302 certifications; the filing states that no other changes were made to the original filing.
What to watch
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Prior material control weakness
A material weakness was identified in February 2026 involving improper application of FASB ASC 842, which caused a material overstatement of right-of-use assets and other income for the year ended December 31, 2025.
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Remediation may not remain effective
Although management concluded the weakness was fully remediated as of March 31, 2026, the filing notes that internal-control projections are subject to the risk that controls may become inadequate or compliance may deteriorate in future periods.
Management's outlook
This Form 10-Q/A only amends Item 4, Controls and Procedures, for the quarter ended March 31, 2026; it contains no quantitative revenue or EPS outlook.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.