Functional Brands
Functional Brands Inc. (NASDAQ: MEHA) is a public health and wellness company operating the legacy Kirkman nutritional supplement brand and the Tru2u.health telehealth platform, while pursuing a strategic pivot into blockchain-based gold-backed digital asset infrastructure via the pending $142.9M BullionFX/Alchemy acquisition.
- Company typePublic
- Founded2020
- HeadquartersLake Oswego, United States
- Headcount11–50
- GTM typeB2C
- OfferingHardware or Manufacturing
What Functional Brands does
Functional Brands Inc. (NASDAQ: MEHA), headquartered in Lake Oswego, Oregon, is a public health and wellness company operating two distinct business platforms. Its legacy Kirkman brand, founded in 1949 and acquired in May 2023, offers over 150 nutritional supplements — including probiotics, digestive enzymes, vitamins, minerals, and the P2i prenatal line — tested for 160+ contaminants and manufactured at the company's FDA-registered, cGMP-certified 30,000 sq ft Oregon facility. The brand is distributed across 35+ countries via Amazon, iHerb, healthcare practitioners, retail, and owned e-commerce. In February 2026 the company launched Tru2u.health, a proprietary direct-to-consumer telehealth platform offering clinician-supervised peptide protocols, GLP-1-based weight management (including the platform-exclusive GLP-Squared dual-peptide Semaglutide+Tirzepatide injectable), NAD+ therapy, and board-certified consultations, supported by influencers with 23M+ combined social reach.
Revenue is generated through unit-priced nutraceutical sales across DTC, marketplace, and practitioner channels, supplemented by subscription-based telehealth service revenue on Tru2u.health. Q1 2026 revenue of $1.65M (up 3.5% YoY) generated a record first-quarter gross profit of $961K at a 58.4% gross margin, though the company reported a $7.0M Q1 net loss driven primarily by a $6.3M non-cash GAAP charge on equity exchange. The company went public via Nasdaq direct listing in November 2025 and is pursuing a transformative $142.9M all-stock acquisition of BullionFX's Alchemy gold-backed blockchain settlement platform (definitive agreement May 2026), which would extend the business into tokenized gold and DeFi yield infrastructure on Ethereum. The company currently faces a Nasdaq Staff Delisting Determination effective June 16, 2026 due to low-priced stock non-compliance.
Functional Brands firmographics
Firmographics- Name
- Functional Brands
- Legal name
- Functional Brands Inc.
- Website
- https://functionalbrandsinc.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Functional Brands Inc. (NASDAQ: MEHA) is a public health and wellness company operating the legacy Kirkman nutritional supplement brand and the Tru2u.health telehealth platform, while pursuing a strategic pivot into blockchain-based gold-backed digital asset infrastructure via the pending $142.9M BullionFX/Alchemy acquisition.
- Ownership category
- akta.pro rank
Functional Brands industry classification
Industry- Product category
- Nutritional Supplements
- NAICS
- Food (Health) Supplement Retailers (456191), Health and Personal Care Retailers (456)
- SIC
- Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)
- akta.pro primary industry
- Specialty Condition Supplements (Sleep, Stress, Heart, Joint, Gut, Immunity) (CRADAGAE)
- akta.pro secondary industry
- Healthy Aging & Cognitive Support Supplements (CRADAGAM)
Keywords
Where Functional Brands is headquartered
LocationHeadquarters
- HQ city
- Lake Oswego
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Functional Brands business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Marketing or Sales, Technology or R&D, Personnel
Revenue model
- Nutraceutical/Wellness Product Sales: Revenue generated from the sale of Kirkman-branded supplements (150+ products including probiotics, digestive enzymes, vitamins, minerals, prenatal products), P2i prenatal vitamins, and wellness bundles. Products are sold through direct-to-consumer e-commerce, Amazon, practitioner channels, retail, and international distributors such as iHerb. Q1 2026 revenue of $1.65 million.
- Telehealth Platform Services: Tru2u.health digital health platform generates revenue through clinician-supervised peptide therapy programs, GLP-1-based weight management consultations, telehealth services, and prescription fulfillment. Platform offers GLP-Squared Injection exclusively and NAD+ therapy with board-certified provider oversight.
- Alchemy Digital Asset Platform (Post-Acquisition): Following the $142.9 million acquisition of BullionFX assets, the company intends to commercialize the Alchemy platform offering gold-backed digital asset infrastructure. Revenue streams expected to include yield products, lending protocols, and cross-border settlement services targeting retail, institutional, and blockchain markets. Target activation Q3 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Kirkman supplement products available through multiple sales channels |
| Subscription | Monthly | GLP-Squared Injection available exclusively through Tru2u.health platform |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
Functional Brands product offering
Product offeringCore offering
Functional Brands is a health and wellness company that manufactures and sells clean, science-backed nutritional supplements through its legacy Kirkman brand (150+ products, 75+ year history) and operates the Tru2u.health digital health platform offering clinician-supervised peptide protocols, GLP-1-based weight management programs, NAD+ therapy, and the proprietary GLP-Squared dual-peptide injection. Products are sold direct-to-consumer via company websites, telehealth platform, Amazon, iHerb, healthcare practitioners, and retail in 40+ countries.
Product overview
Functional Brands operates as a diversified nutraceutical and wellness company organized around multiple brands and platforms. Its portfolio consists of: (1) the established Kirkman® legacy brand, a 75+-year-old nutritional supplement line with over 150 products sold in 35+ countries; (2) the P2i™ prenatal sub-brand, a purity-certified prenatal vitamin aligned with FIGO standards; (3) the proprietary Tru2u.health digital health platform — a direct-to-consumer telehealth ecosystem offering peptide protocols, GLP-1-based weight management programs, NAD+ therapy, and exclusive access to GLP-Squared Injection (a proprietary Semaglutide + Tirzepatide dual-peptide); and (4) multiple branded wellness product bundles under the Kirkman® umbrella (Weight Loss Support Bundle, Restorative Sleep Bundle, Skin/Beauty & Anti-Aging Bundle). The company also manufactures in-house at an FDA-registered, cGMP-certified facility in Oregon, and is pursuing a strategic pivot into blockchain-based gold digital asset infrastructure via the pending BullionFX | Alchemy acquisition.
Differentiator
Problem solved
Functional benefit
Brands
- Kirkman: Flagship nutritional supplement brand with over 75 years of history, offering probiotics, digestive enzymes, vitamins, minerals, prenatal products, and specialty supplements across 150+ products. Available in more than 35 countries.
- Tru2u.health
- P2i by Kirkman
Products and services
- Kirkman
Quantifiable outcome
- Revenue grew 3.5% to $1.65 million in Q1 2026
- +3 more outcomes
Companies that use Functional Brands
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Functional Brands technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature4 records
Functional Brands partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship, minor, key and core.
- BullionFX/Key Personnel (Stephen Moss, Simon Rahme, Jonathan Teo, David Atkinson, Blair Jordan)flagshipAsset acquisition valued at $142.9 million for Alchemy blockchain-based gold tokenization platform. Key talent including founder Stephen Moss, co-founder Simon Rahme, and advisors expected to join MEHA at no additional cost. Alchemy designed to provide on-chain reserve verification and settlement for gold-backed digital tokens. Multiple strategic financial parties in advanced discussions to fund commercialization.
- Lioness Consulting LLCminorProxy solicitor engaged for the Special Meeting of Stockholders adjourned to June 1, 2026. Stockholders encouraged to vote shares through the proxy solicitor at 1-877-672-7073.
- partnrup.aikeyStrategic technology partnership deploying AI-powered partner marketing technology on behalf of Tru2u.health digital health platform. Integration aims to improve cost-per-acquisition and revenue-per-visitor metrics through AI-powered partner discovery and real-time traffic evaluation. Expected to be operational within 10 days of announcement.
- iHerbcoreGlobal distribution partnership making P2i prenatal multivitamin available through iHerb's international platform, expanding access to families in Asia, Europe, Middle East, and Latin America. The partnership emphasizes prenatal supplement safety and testing for contaminants.
- Market Performance Group (MPG)coreCommercial partnership with Market Performance Group to expand the reach of the Kirkman brand across various sales channels. The collaboration leverages MPG's retail and digital expertise to accelerate brand growth in the booming health and wellness market. MPG is a leading omnichannel commerce strategy and services agency.
Scale indicators13 records
Recent moves8 records
Expansion highlights6 records
Functional Brands competitors and assessment
Company assessmentDirect peers
- LifeVantage Corporation: Public health and wellness company (NASDAQ: LFVN) focused on Nrf2-activating supplements and Protandim product line, with direct-selling model. Comparable in size, science-backed supplement positioning, and small-cap public company dynamics.
- Nu Skin Enterprises: Public direct-selling health and wellness company (NYSE: NUS) offering nutritional supplements, personal care, and beauty products globally. Comparable in product mix, international distribution scale, and small-cap public profile.
- Thorne HealthTech: Premium supplement company offering practitioner-grade, science-backed nutritional supplements with rigorous third-party testing. Most directly comparable to Kirkman's positioning on quality, testing beyond FDA, and practitioner distribution.
- Standard Process: Private whole-food nutritional supplement manufacturer with practitioner-focused distribution, vertically integrated farming-to-bottle operations, and rigorous quality testing. Comparable to Kirkman's practitioner channel and quality positioning.
- Nature's Sunshine Products: Established supplement manufacturer with similar product breadth (herbal, vitamins, probiotics, specialty formulations) and multi-channel distribution including direct-to-consumer and practitioner networks. Comparable in size and target market to Functional Brands.
- USANA Health Sciences: Public nutritional supplement company (NYSE: USNA) with international distribution across 20+ countries, premium positioning, and similar quality-testing emphasis. Closely matches Kirkman's global distribution and premium supplement profile.
Emerging players
- Ro (Roman Health): Private telehealth company offering direct-to-consumer healthcare including weight management programs with compounded GLP-1 access. Comparable to Tru2u.health's digital health + peptide therapy approach and DTC consumer experience.
- Paxos / PAXG (Pax Gold): Regulated blockchain infrastructure company issuing PAXG, the leading gold-backed token. Closely comparable to the Alchemy platform's gold-backed digital asset and on-chain reserve verification value proposition, though Paxos is significantly more established.
- Ondo Finance: Leading tokenized real-world asset (RWA) platform offering yield-bearing products backed by treasuries and other assets. Comparable to Alchemy's positioning in the tokenized RWA and DeFi yield/lending market, particularly relevant given the $19.3B tokenized RWA market context.
- Hims & Hers Health: Public telehealth platform (NYSE: HIMS) offering direct-to-consumer access to weight loss treatments including GLP-1 therapies, plus primary care and mental health. Directly comparable to Tru2u.health's telehealth + GLP-1 business model, though at vastly larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks2 records
Key highlights6 records
Customer concentration
Functional Brands social profiles
Digital presenceFunctional Brands compliance and trust
Trust signalCompliance2 records
Functional Brands financial estimates
Financial estimateRevenue estimate
Valuation estimate
Functional Brands leadership team
Management profileNumber of profiles
Profiles5 records
Functional Brands subsidiaries and ownership
Company hierarchySubsidiaries2 records
Functional Brands funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Functional Brands M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Functional Brands
What does Functional Brands do?
Functional Brands is a health and wellness company that manufactures and sells clean, science-backed nutritional supplements through its legacy Kirkman brand (150+ products, 75+ year history) and operates the Tru2u.health digital health platform offering clinician-supervised peptide protocols, GLP-1-based weight management programs, NAD+ therapy, and the proprietary GLP-Squared dual-peptide injection. Products are sold direct-to-consumer via company websites, telehealth platform, Amazon, iHerb, healthcare practitioners, and retail in 40+ countries.
Is Functional Brands a public or private company?
Functional Brands is a public company. It is classified as public and is currently operating.
When was Functional Brands founded?
Functional Brands was founded in 2020. It employs 11 to 50 people.
Where is Functional Brands based?
Functional Brands is headquartered in Lake Oswego, United States, in the North America region.
How does Functional Brands make money?
Three revenue lines are on record. Nutraceutical/Wellness Product Sales are the primary driver. The others are telehealth Platform Services and alchemy Digital Asset Platform (Post-Acquisition).
Who are Functional Brands's main competitors?
Direct peers on record are LifeVantage Corporation, Nu Skin Enterprises, Thorne HealthTech, Standard Process, Nature's Sunshine Products and USANA Health Sciences. Emerging players are Ro (Roman Health), Paxos / PAXG (Pax Gold), Ondo Finance and Hims & Hers Health.
Does Functional Brands have an API?
No public API is recorded for Functional Brands.
What industry is Functional Brands in?
Functional Brands's product category is Nutritional Supplements. Its primary akta.pro industry code is CRADAGAE, Specialty Condition Supplements (Sleep, Stress, Heart, Joint, Gut, Immunity), with a secondary code of CRADAGAM, Healthy Aging & Cognitive Support Supplements. Its NAICS code is 456191 and its SIC code is 5122.