Functional Brands

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.

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

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

• Nutritional supplements
• Nutraceutical products
• Telehealth services
• Prenatal vitamins
• Wellness supplements

Headquarters

HQ city

Lake Oswego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Technology or R&D, Personnel

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core 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

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature4 records

Partnerships

Five partnerships are on record, tiered flagship, minor, key and core.

• BullionFX/Key Personnel (Stephen Moss, Simon Rahme, Jonathan Teo, David Atkinson, Blair Jordan)flagshipTechnology or Integration · 5 June 2026Asset 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 LLCminorOthers · 27 May 2026Proxy 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.aikeyTechnology or Integration · 22 April 2026Strategic 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.
• iHerbcoreChannel Partner/ Reseller/ Distributor · 20 March 2026Global 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)coreStrategic or Co-development Partner · 10 November 2025Commercial 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

Direct 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

• Xtwitter.com/functionalbrands
• Facebookfacebook.com/FunctionalBrandsInc
• LinkedInlinkedin.com/company/functional-brands-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Functional Brands