Once Upon a Farm Prices IPO at $18 per Share
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 05 2026
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Should l Buy OFRM?
Once Upon a Farm to price IPO at $18 per share vs. $17-$19 range, Bloomberg says
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Analyst Views on OFRM
Wall Street analysts forecast OFRM stock price to rise
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Current: 15.840
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Current: 15.840
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About OFRM
Once Upon a Farm, PBC is engaged in the manufacturing, distribution, marketing and related sale of nutrient-packed, delicious food for babies and kids of on-the-go parents under the brand name, Once Upon a Farm. Its products as offered for Babies, Kids and Toddlers. Its products includemelts, fruit and veggie puffs, frozen meals, refrigerated oat bar, refrigerated pouches and variety packs. Its variety packs include Carter’s Baby & Toddler Favorites, Carter’s Big Kid Favorites, Carter’s Baby & Toddler Snack Sampler, 9ct, Farmer's Finest, Winter Favorites, Refrigerated Bar Sampler, Green Checkered Pouch Cooler 2-Pack, Dairy-Free Smoothie, Fruit & Veggie Puff, Refrigerated Protein Bar, Baby Best Sellers and others. Its meals include Organic Pasta Meals Cauli-fredo & Spinach, Organic Pasta Meals Pomodoro, Veggie Pot Pie, Papaya Sunrise, Banana Berry Acai and others. Its Refrigerated Oat Bars include Apple Cinnamon Oat Bar, Banana Chocolate Oat Bar, Blueberry Oat Bar and others.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Product Line Expansion: Once Upon a Farm has launched a new range of organic foods, including meat, meat & bone broth, legume blends, and smoothies with protein and probiotics, aimed at meeting the evolving nutritional needs of families from infants to school-aged children, which is expected to enhance the brand's competitiveness in the children's food market.
- Nutritional Innovation: The newly introduced meat and meat & bone broth products deliver at least 4g of high-quality protein per serving, sourced from hormone-free, antibiotic-free grass-fed beef and free-range chicken, designed to support children's growth and palate development, aligning with parents' preferences for fresh, healthy foods.
- Market Demand Response: According to Kantar Profiles/Mintel, 46% of U.S. parents consider protein an important attribute when choosing foods for babies and toddlers, and this product launch directly addresses that market demand, further solidifying Once Upon a Farm's position as a leader in children's nutrition.
- Mission Continuation: Once Upon a Farm is committed to providing organic, non-GMO, and no added sugar foods, aiming to support children's healthy growth through nutrient-rich products, reflecting the brand's long-term commitment to improving childhood nutrition.
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- Product Line Expansion: Once Upon a Farm has launched a new range of organic foods, including meat, meat & bone broth, legume blends, and smoothies with protein & probiotics, aimed at meeting the nutritional needs of families from infancy to school age, which is expected to enhance the brand's competitiveness in the children's food market.
- Innovative Refrigerated Packaging: The newly introduced meat and bone broth pouches are the first organic meat products to utilize cold-pressure protection technology, ensuring nutrient retention and fresh flavor, addressing the preference of 72% of parents for fresh meat, thereby enhancing consumer trust.
- Nutritional Enhancement: Each smoothie delivers 4 grams of protein and probiotics to support active children's immune health, while the new Power Wheels snack bars also contain 4 grams of protein and 100% whole grain oats, catering to parents' demand for healthy snacks for their children.
- Clear Market Positioning: Once Upon a Farm's products are designed for babies aged 6 months and older and children aged 4 and up, aligning with 46% of U.S. parents' recognition of the importance of protein in children's foods, further solidifying the brand's leadership in the childhood nutrition sector.
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- Once Upon A Farm Performance Decline: Once Upon A Farm reported its first earnings since going public, guiding for 2026 adjusted EBITDA of $2 million to $4 million, significantly lower than $6.6 million in Q4 2025, resulting in an 8% stock drop and raising concerns about future growth prospects.
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Stock Price Decline: Shares fell 15.2% to $17.16, marking a significant drop below the IPO price of $18.
Quarterly Results Impact: The decline in share price follows the release of quarterly results, indicating investor reaction to the company's performance.
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- Sales Growth Highlight: Once Upon A Farm reported Q4 2025 sales of $64 million, reflecting a 30.1% increase driven by expanded distribution and significant household penetration, showcasing strong brand momentum and consumer trust in its mission-driven approach.
- Gross Margin Improvement: The gross margin for the quarter was 47.7%, up from 46.7% in the prior year, primarily due to lower trade spending and higher average selling prices, enhancing the company's profitability.
- Adjusted EBITDA Surge: Adjusted EBITDA reached $6.6 million, a substantial increase from $2.2 million in the previous year, although partially offset by rising SG&A expenses, indicating significant gross profit growth.
- Negative Market Reaction: Despite GAAP EPS of $0.11 beating consensus estimates, analysts expressed concerns that investors might be disappointed with the reported margin rate, leading to a 19.3% drop in premarket trading to $16.43, below the IPO range of $18.00 to $27.00.
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- Stock Surge: Shares of The Oncology Institute jumped 14.7% to $3.01 in pre-market trading, demonstrating a positive investor reaction to the financial results, which may attract more investor interest in its future developments.
- Increased Market Confidence: The better-than-expected performance not only enhances investor confidence but may also prompt analysts to reassess the company's long-term growth potential, potentially influencing future stock price movements and market performance.
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