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Leases
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Leases

Note 11 – Leases

 

The components of lease expense were as follows (amounts in thousands):

 

   2025   2024   2025   2024 
  

Three months ended

September 30,

  

Nine months ended

September 30,

 
   2025   2024   2025   2024 
Operating lease cost  $111   $110   $332   $337 
Finance lease cost                    
Amortization of assets   4    4    11    11 
Interest on finance lease obligations   -    1    2    3 
Variable lease cost   -    -    -    - 
Total net lease cost  $115   $115   $345   $351 

 

Included in the table above, for the three and nine months ended September 30, 2025 and 2024, is $0.1 million and $0.3 million, respectively, of operating lease cost for our corporate headquarters. This space is being leased from The Move, LLC. Our CEO and President, each a related party to WFCF, have a 24.3% jointly-held ownership interest in The Move, LLC.

 

Supplemental balance sheet information related to leases was as follows (amounts in thousands):

 

   Related Party   Other   Total   Related Party   Other   Total 
   September 30, 2025   December 31, 2024 
   Related Party   Other   Total   Related Party   Other   Total 
Operating leases:                              
Operating lease ROU assets  $1,756   $156   $1,912   $1,934   $97   $2,031 
                               
Current operating lease liabilities  $297   $65   $362   $276   $61   $337 
Noncurrent operating lease liabilities   1,906    93    1,999    2,131    38    2,169 
Total operating lease liabilities  $2,203   $158   $2,361   $2,407   $99   $2,506 

 

   September 30, 2025   December 31, 2024 
Finance leases:          
Right of use asset, at cost  $76   $76 
Accumulated amortization   (51)   (40)
Property and equipment, net  $25   $36 
           
Current obligations of finance leases  $13   $15 
Finance leases, net of current obligations   16    25 
Total finance lease liabilities  $29   $40 
           
Weighted average remaining lease term (in years):          
Operating leases   5.7    6.4 
Finance leases   2.2    2.8 
           
Weighted average discount rate:          
Operating leases   5.9%   5.8%
Finance leases   8.8%   8.5%

 

 

Where Food Comes From, Inc.

Notes to the Consolidated Financial Statements

(Unaudited)

 

Supplemental cash flow and other information related to leases was as follows (amounts in thousands):

 

   2025   2024   2025   2024 
  

Three months ended

September 30,

  

Nine months ended

September 30,

 
   2025   2024   2025   2024 
Cash paid for amounts included in the measurement of lease liabilities:                
Operating cash flows from operating leases  $121   $118   $358   $354 
Operating cash flows from finance leases  $-   $1   $2   $3 
Financing cash flows from finance leases  $4   $3   $11   $10 
                     
ROU assets obtained in exchange for lease liabilities:                    
Operating leases  $-   $-   $110   $80 

 

Maturities of lease liabilities were as follows (amounts in thousands):

 

Years Ending December 31st,  Operating Leases   Finance Leases 
2025 (remaining three months)  $123   $5 
2026   483    14 
2027   457    13 
2028   470    - 
2029   484    - 
Thereafter   766    - 
Total lease payments   2,783    32 
Less amount representing interest   (422)   (3)
Total lease obligations   2,361    29 
Less current portion   (362)   (13)
Long-term lease obligations  $1,999   $16