Increase in Verification and Certification Revenue
Core verification and certification revenue increased nearly 2%, driven by strong demand for CARE Certified and Upcycled programs.
Growth in Hardware Sales
Hardware sales increased year-over-year by 18% to $1 million, despite fewer basic tag sales, with higher demand for value-added tags.
Improved Net Income
Net income in Q2 increased 15% to $562,000, including a $172,000 gain in the fair market value of digital assets.
Strong Balance Sheet and Profitable Investment
Cash and cash equivalents rose to $3.2 million, boosted by a $1.8 million sale of a 10% interest in Progressive Beef, which was a profitable investment.
Expansion of Retail Labeling Program
Added two major retailers featuring CARE Certified beef products, expanding to over 100 locations by year-end.
Integration of Artificial Intelligence
Progress in integrating AI tools to improve efficiency and enhance customer experiences.
Share Repurchase Program
Repurchased 24,481 shares in Q2, with a total of 55,826 shares year-to-date, contributing to $14.6 million in value returned to shareholders.