Once Upon a Farm Inc (NYSE:OFRM), the Berkeley-based organic childhood nutrition company co-founded by actress Jennifer Garner, saw its stock rise sharply in its initial day of trading. Shares opened at $21 on the New York Stock Exchange - a marked premium to the $18 initial public offering price - and jumped 17% in the debut session.
The company completed an offering of approximately 11 million shares that raised $197.9 million for the business and certain existing shareholders. Based on outstanding shares, that capital raise and opening price imply a market capitalization of roughly $845 million.
Once Upon a Farm has positioned itself as an alternative to long-standing, shelf-stable and highly processed children's options. In its regulatory filing the company said it had "revolutionized the childhood nutrition category with what we believe is the first-ever cold-pressed Pouch, setting a new standard for nutrition that parents love and kids crave." The brand says it follows a "farm fresh first" strategy and emphasizes organic, non-GMO ingredients in its product messaging.
Under the leadership of industry veteran John Foraker, who previously led Annie's, the company has expanded beyond its core cold-pressed pouch business into refrigerated oat bars and frozen meals. That product expansion, combined with distribution efforts, has helped the company secure an "all-aisle" presence in over 25,000 retail locations.
One of the firm’s operational tactics has been the deployment of more than 3,200 branded coolers. The company asserts these installations drive incremental total category dollar growth for retail partners and allow it to occupy premium space in the baby aisle - an area the firm says has traditionally lacked fresh, refrigerated choices.
Financially, Once Upon a Farm reported net sales of $225.9 million for the twelve months ended September 30, 2025. That represents a compound annual growth rate of 64.4% since 2018. The company also recorded a net loss of $52 million over the same period, reflecting deliberate, heavy investment in infrastructure and marketing to support its growth trajectory.
Management has stated its intention to use net IPO proceeds to repay outstanding borrowings and to acquire new equipment for operations. The executive team includes Foraker and Chief Financial Officer Lawrence Waldman, with the company describing their combined experience as more than a century in consumer packaged goods. Leadership has articulated a long-term ambition to develop the brand into a one-stop provider of childhood nutrition - from early baby foods through school-age snacks.
Digital channels have played a material role in the company’s sales mix. The firm reported that roughly 40% of sales volume in 2025 originated from digital "clicks." Once Upon a Farm notes that these digital baskets are typically significantly larger than in-store purchases, an attribute it says adds value for retailer partners.
Despite the bullish debut, the company faces stated headwinds. The filing cited geopolitical instability and the potential for tariffs on imported ingredients as external risks. At present household penetration stands at 4.8%, which the company presents as evidence of a substantial runway for growth within a retail category it values at $79 billion.
Analysis summary - Once Upon a Farm’s market debut demonstrated investor appetite for its positioning in refrigerated, organic children’s nutrition. Rapid top-line growth and a broad retail footprint underpin the valuation, but persistent operating losses and exposure to external trade and geopolitical risks are explicit constraints highlighted by management.