Once Upon a Farm delivered predominantly volume-driven growth during the second quarter of 2026, with net sales increasing 42.3% to $85.4 million as product volume surged 40.3%.
The volume increase was driven by incremental distribution of existing products and new product introductions, meaning most of the company’s $25.4 million year-over-year revenue increase came from selling more products rather than primarily relying on price increases.
Management also pointed to stronger cooler productivity as consumer awareness increases, assortments broaden and newer cooler cohorts mature. The company said household penetration, repeat purchases and buy rates continue to improve.
Gross profit increased to $30.6 million from $24.5 million, although gross margin declined 485 basis points to 35.9%. The decline reflected higher trade spending, including a national club-channel program, and product mix, partially offset by pricing and lower cooler slotting fees.
The company posted a $5 million net loss compared with a $9 million loss a year earlier. Adjusted EBITDA was a $1.7 million loss compared with positive Adjusted EBITDA of $2 million, primarily due to higher SG&A expenses.
Once Upon a Farm’s February IPO substantially changed its balance sheet. Cash and equivalents reached $93.5 million at June 30 compared with $10.9 million at year-end, while total debt fell from $60.2 million to zero.
Following the strong growth, Once Upon a Farm raised its full-year outlook. The company now expects $327 million to $335 million of 2026 net sales, representing 36% to 39% growth, along with Adjusted EBITDA of $3 million to $4.5 million.
KEY QUOTES:
“We delivered another quarter of high-quality, volume-led growth, with net sales increasing 42% year over year. Distribution continues to expand, velocities remain strong across our portfolio, and cooler productivity is increasing as awareness grows, assortments broaden and newer cooler cohorts mature.”
“We believe this combination of expanding household reach, strengthening consumer loyalty and increasing productivity positions Once Upon a Farm to deliver durable growth and meaningful long-term profitability.”
John Foraker, CEO and Co-Founder of Once Upon a Farm
