Key Highlights

  • Shares are trading down 35.89% at $9.63 versus a prior close of $15.02.
  • The recalled line accounted for about 18% of year-to-date net sales.
  • Management reported about $106 million in cash and no debt.

Once Upon a Farm (NYSE:OFRM) shares are trading down 35.89% at $9.63 today after the organic kids' food maker announced a voluntary recall of its Tractor Wheels soft-baked bars due to a potential choking hazard for toddlers aged 1.5 to 2.5. The stock is hovering just above its 52-week low of $9.07, against a 52-week high of $27.00.

Once Upon a Farm is a Berkeley, California-based public benefit corporation that makes organic, non-GMO food for babies, toddlers and kids, from pouches and frozen meals to refrigerated bars and pantry snacks. Its products are sold in roughly 25,000 retail doors across the United States and online, and the company went public in February 2026 at $18 per share.

Three Consumer Complaints Trigger a Recall Across Three Flavors

The recall is based on three consumer complaints, and the company said it is working with the U.S. Food and Drug Administration to make sure affected products are removed. The affected varieties are Apple, Sweet Potato and Spinach; Strawberry, Pumpkin and Beet; and Banana, Pumpkin and Cauliflower Tractor Wheels. No other Once Upon a Farm products are affected.

Tractor Wheels were distributed nationwide through the internet, distribution centers and retail stores across most U.S. states and Puerto Rico. Consumers are asked not to open the package and to return it to the place of purchase for a full refund. The announcement also referred to a reformulation of the product.

Management Sizes the Exposure at About 18% of Year-to-Date Net Sales

On an investor call, management said the Tractor Wheels line accounted for about 18% of year-to-date net sales and that no root cause has been identified. The recall reaches major mass-market and online retailers.

The company disclosed about $106 million in cash, no Debt and up to $95 million in borrowing capacity. Short interest stands at roughly 13% of the float, according to market data.

November 12 Results Become the Next Checkpoint for Recall Costs

With shares down more than a third in a single session and trading near the post-IPO low, attention turns to the third-quarter report due on November 12. Investors will look for detail on recall costs, inventory write-offs and the reformulation timeline. The company had raised its 2026 net sales guidance to a range of $313 million to $323 million.