Key Takeaways
- Once Upon a Farm shares dropped after forecasting slower sales growth for 2026.
- The company projects 2026 net sales growth of 25% to 29%, down from 2025’s 53.5% surge.
- Shares have fallen about 18% since the company’s February IPO.
The market’s reaction to Once Upon a Farm’s first quarterly report following its initial public offering likely was not what Jennifer Garner had hoped for.
Shares of Once Upon a Farm (OFRM) sank 13% Friday morning, dropping below their IPO price, a day after the organic baby food and kids’ snacks company co-founded by the actress pointed investors toward slowing sales growth for this year.
Why This Matters
Once Upon a Farm went public just weeks ago, and the stock is already under pressure after its first earnings report. The company still projects strong growth, but market reaction shows how sentiment can shift amid changing growth expectations.
The Berkeley, Calif.-based firm sees 2026 net sales of $302 million to $310 million, which would represent growth of 25% to 29% year-over-year. Net sales surged more than 53% to $240.7 million in 2025.
Once Upon a Farm also expects 2026 adjusted EBITDA of $2 million to $4 million, with the bottom of the range below 2025’s $2.1 million.
The company’s shares have lost about 18% of their value since the company’s IPO on Feb. 6, when shares were priced at $18. They finished their first trading session at $21.05; they were recently at a bit below that level.
The company, which sells products including pouches of blended produce, oat bars, frozen meals and snacks, lists Amazon.com-owned (AMZN) Whole Foods, Walmart (WMT), Target (TGT), Costco (COST) and Kroger (KR) among the outlets that sell its goods.