Once Upon a Farm
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Once Upon a Farm (OFRM) investor relations material

Once Upon a Farm has been private

Once Upon a Farm Registration Filing summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Once Upon a Farm PBC
Registration Filing summary28 Jan, 2026

Company overview and business model

  • Provides organic, fresh, and nutritious food for babies and kids, with no added sugar, preservatives, or artificial ingredients.

  • Operates as a public benefit corporation, balancing financial interests with social and environmental impact.

  • Products include cold-pressed pouches, refrigerated oat bars, dry baby snacks, and frozen meals, distributed through over 25,000 retail doors and a DTC platform.

  • Focuses on innovation, with a robust pipeline and rapid expansion into new categories and formats.

  • Maintains strong relationships with major retailers and leverages omnichannel distribution, including a growing e-commerce presence.

Financial performance and metrics

  • Net sales grew from $66.3M in 2022 to $225.9M in the twelve months ended September 30, 2025, a 56.2% CAGR.

  • Gross margin increased from 39.3% in 2022 to 41.7% in the twelve months ended September 30, 2025.

  • Contribution margin rose from 28.0% in 2022 to 36.0% in the twelve months ended September 30, 2025.

  • Net loss increased from $19.3M in 2022 to $52.0M in the twelve months ended September 30, 2025.

  • Adjusted EBITDA loss improved from $14.0M in 2022 to $2.4M in the twelve months ended September 30, 2025.

  • For Q4 2025, estimated net sales are $62M–$64.1M, with net income of $9M–$11.5M, driven by reduced trade and marketing spend and a $6.8M gain from derivative liability revaluation.

Use of proceeds and capital allocation

  • Expected net proceeds of $111.7M (or $139.3M if underwriters' option is exercised), assuming an $18.00/share IPO price.

  • Proceeds will be used to repay $43M in outstanding borrowings, purchase $25M in new equipment, pay $7M under a spokesperson agreement, settle $1.6M in employee SARs, and for general corporate purposes.

Cooler expansion targets and ROI
Next phase of product portfolio diversification
Q4 2025 profitability drivers and Q1 2026 outlook
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