Once Upon A Farm, Pbc · NYSE:OFRM
Once Upon A Farm, Pbc — Q2 2026 Earnings Presentation
23 slides from Once Upon A Farm, Pbc's earnings presentation, Aug 6, 2026
Slide 1: William Blair Growth Stock Conference June 2026
ned "», 4 oie ® FAR % & FARM, we FARM, ! ce William Blair Growth Stock Conference June 2026 STRICTLY PRIVATE AND CONFIDENTIAL
Slide 2: Disclaimer
Disclaimer Disclaimer The information and opinions contained in this Presentation (including forward-looking statements) are made as of the date identified on the cover page of this Presentation unless otherwise stated herein. They are subject to change without notice and neither the Company nor any
Slide 3: Today’s Presenters
Today’s Presenters John Foraker Larry Waldman Co-Founder & Chief Executive Officer President & Chief Financial Officer Tenure: ~8yrs Tenure: ~8yrs 30+ years of experience in 27+ years of experience in the natural and organic food entrepreneurial CPG brands, industry, including as CEO including as SV
Slide 4: The Problem: Children’s Food Today
The Problem: Children’s Food Today: Contains preservatives and fillers Many packaged food Over-processed and contains added sugar options for infants, May lead parents to compromise taste and quality for convenience toddlers, and children are adverse to their long-term health and development Y
Slide 5: The Solution
The Solution: Baby through kid “Parenthood Ally” brand We believe kids should be eating food that’s organic, fresh, clean, simple, and real… …and that parents need food options that are delicious, nutritious, and convenient FARM-FRESH TASTE GROWS HERE. 5
Slide 6: Our Mission is Clear and Guides Everything We Do
Our Mission is Clear and Guides Everything We Do… “We Exist to Drive Systemic Improvement in Childhood Nutrition for a Happier, Healthier, and More Equitable World” FARM-FRESH TASTE GROWS HERE. 6
Slide 7: O’Farm Participates in a Substantial TAM with a Large Opportunity Ahead
O’Farm Participates in a Substantial TAM with a Large Opportunity Ahead Refrigerated SPINS Retail Baby & Toddler Wellness & Categories Yogurt & Plant- Foods Snack Bars Based Yogurt LTM SPINS Retail $2.2 $12.4 $7.5 Sales ($BN)3 1 x Baby, Toddler, & Kids (as % of Total 100% 13% 14% U.S. Kids Food & Be
Slide 8: Once Upon a Farm is at the Leading Edge of Health and Wellness
Once Upon a Farm is at the Leading Edge of Health and Wellness Growth in Natural & Organic and Kid Markets Transformational Consumer Demand $79BN $57BN 5 or more As a result, the Baby Food category boasts the Organic categories purchased by highest penetration of N&O Food & Beverage1 Kids Food & Bev
Slide 9: Our Competitive Strengths
Our Competitive Strengths 1 Modern and Deeply Trusted Brand Covering Baby Through Kid 2 Consistently Delicious Products Made with High Quality Ingredients 3 Leading In-House Innovation Capabilities Redefining the Baby and Kid Food Markets 4 Core Demographic Comprised of Loyal Consumers With Strong B
Slide 10: We Deliver Consistently Delicious Products with High-Quality, Fresh, and Clean Ingredients
We Deliver Consistently Delicious Products with High-Quality, Fresh, and Clean Ingredients Once Upon a Farm continues to have strong brand perceptions around health and nutrition, as: 115 Certified Organic Ingredients Across No Added Sugar Products 92% believe O'Farm delivers the USDA Organic No Art
Slide 11: Our Consumers Demand Quality and Convenience for Their Loved Ones
Our Consumers Demand Quality and Convenience for Their Loved Ones Our Core Consumer A Trusted Brand for Kids of All Ages Jessica Digitally Savvy Larger, Older 65% Family of parents say they want a single Educated It’s not only childhood brand that spans all ages1 convenient Ages 0-12 is a crucial ti
Slide 12: Retailers Love O’Farm, as it is Highly Incremental Across Categories
Retailers Love O’Farm, as it is Highly Incremental Across Categories… The Fresh Perimeter The Baby Aisle & Center Store When an O’Farm Baby Cooler launches… • 61% incremental to Baby Food Category 35% from NEW Category HHs1 • Baby Food Category $ grow +10%1 • Baby Department Baskets 1.8x1 69% 73%
Slide 13: Supports Retailers’ Desire to Partner with Us as a Destination Across the Store
…Which Supports Retailers’ Desire to Partner with Us as a Destination Across the Store DAIRY MEAT & POULTRY SEAFOOD BAKED GOODS FROZEN Small presence in Around the perimeter… frozen today PRODUCE LUNCHBOX AISLE BABY AISLE AISLE AISLE AISLE FLOWERS O’Farm Cooler ALCOHOL …and in the center of the stor
Slide 14: Significant Whitespace to Expand Our Disruptive Coolers
Significant Whitespace to Expand Our Disruptive Coolers TODAY TOMORROW ~$48M Large Cooler Retail Sales 1,2 Cooler Sales Opportunity 1 >3.7K 15K+ # of Coolers 3 Cooler Opportunity in North America 1 ~$13K Increase Avg. Annual Run-Rate Sales Per Cooler 1,4 Cooler Productivity Cooler productivity has i
Slide 15: We Have a Strategically Differentiated Supply Chain
We Have a Strategically Differentiated Supply Chain Sourcing Organic, High-Quality …Across 30 Production Facilities and …While Remaining Committed to Ingredients at Scale… Fulfillment & Material Warehouses… Social Responsibility Direct Sourcing and Blending Robust and asset-lite network of U.S.- The
Slide 16: Q1 2026 Highlights
Q1 2026 HIGHLIGHTS Net Sales ($) Adj. EBITDA 1 ($M) Q1 '25 Q1 '26 YoY Increase primarily Includes approx. $73 driven by 21% volume $2.5mm in certain $51 increase and price / marketing and cooler mix benefit from dry related costs that baby snacks ($3) shifted from Q1 to Q2 Q1 '25 Q1 '26 ($7) Gross P
Slide 17: FY 2025 Highlights
FY 2025 HIGHLIGHTS Net Sales ($) Adj. EBITDA 1 ($M) $2 Adj. EBITDA $241 YoY Increase primarily profitability driven by driven 42% volume strong revenue growth $157 growth and disciplined cost management ($4) 2024 2025 2024 2025 Gross Profit ($M) Core KPIs are Improving Gross Margin Household Repeat
Slide 18: Net Sales by Product Category
NET SALES BY PRODUCT CATEGORY Net Sales by Target Consumer ($M)1 | YoY Growth Net Sales by Category ($M)1 | YoY Growth Kid Baby Pouch Snack Other $241 $241 $2 $101 $88 $157 $157 $4 Axis Title Axis Title $52 $29 $73 $73 $139 $51 $150 $51 $0 $123 $32 $105 $39 $1 $18 $16 $32 $34 $34 $41 2024 2025 Q1 '2
Slide 19: 2026 Full Year Guidance and Long-Term Algorithm
2026 FULL YEAR GUIDANCE AND LONG-TERM ALGORITHIM Updated 2026 Full Year Guidance Long-Term Growth Algorithm Previous Updated Net Sales Net Sales ($M) YoY Growth % $302 - $310 +25% - 29% $313 - $323 +30% - 34% Growth +20% Adj. EBITDA1 $2 - $4 $2 - $4 Cooler Count 5,000 5,000 Gross Margin +45% Other C
Slide 20: Our Goals – Growth, Industry Leadership, and Profitability
Our Goals – Growth, Industry Leadership, and Profitability Grow brand awareness to drive increased household penetration 5.8% O’Farm household penetration1 vs. 12.5% peer average1,2, providing ample room for growth 1 Use full-funnel, modern marketing initiatives to create authentic, peer-to-peer
Slide 21: Farm-Fresh Taste Grows Here.
FARM-FRESH TASTE GROWS HERE. 21
Slide 22: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation ($000s) (Preliminary Unaudited Results) Year Ended December 31, Three Months Ended March 31, 2024 2025 20252 20262 Net Income (Loss) ($23,836) ($17,249) ($19,466) ($15,811) (+) Change in Fair Value of Derivative Liability1 16,037 8,566 9,680 (340) (+) Change in Fair Va
Slide 23: Commitment to Fresh Nutrition
Commitment Nutrition Incredible FARM-FRESH TASTE GROWS HERE. to Fresh + Standards + Taste 23
Once Upon a Farm, PBC — Q2 2026 Earnings Presentation on 6ix