Once Upon a Farm Q1 Revenue $72.7M, Exceeds Expectations
Reports Q1 revenue $72.7M, consensus $64.4M. "Our first quarter results were excellent with momentum building across the business," said John Foraker, CEO and co-founder of Once Upon a Farm. "We delivered 44% year over year net sales growth and more than 300 basis points of gross margin expansion, driven by accelerating velocities, expanding distribution, and increasingly productive assortments. Importantly, we are seeing meaningful productivity gains from our cooler placements, which delivered an approximate 11% increase in dollar productivity versus the prior quarter, demonstrating that our cooler model is driving higher productivity as we scale. Consumption trends remain strong, with continued gains in household penetration and repeat rates driving growth across our portfolio. Based on this momentum, we are raising our full-year net sales outlook and remain highly confident in the durability and efficiency of our growth model. We believe we are building a highly differentiated & purpose-driven brand that is winning with consumers and expanding the category while delivering attractive long-term returns for shareholders."
