Tearsheet

Functional Brands (MEHA)


Market Price (4/2/2026): $0.1496 | Market Cap: $1.8 Mil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

Functional Brands (MEHA)


Market Price (4/2/2026): $0.1496
Market Cap: $1.8 Mil
Sector: Consumer Staples
Industry: Packaged Foods & Meats

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 42%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 38%

Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages.

Weak multi-year price returns
2Y Excs Rtn is -120%, 3Y Excs Rtn is -160%

Penny stock
Mkt Price is 0.1

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -11%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%

High stock price volatility
Vol 12M is 161%

Key risks
MEHA key risks include [1] potential product quality and regulatory compliance failures, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 42%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 38%
1 Megatrend and thematic drivers
Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages.
2 Weak multi-year price returns
2Y Excs Rtn is -120%, 3Y Excs Rtn is -160%
3 Penny stock
Mkt Price is 0.1
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -1.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -21%
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -11%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -19%
7 High stock price volatility
Vol 12M is 161%
8 Key risks
MEHA key risks include [1] potential product quality and regulatory compliance failures, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Functional Brands (MEHA) stock has lost about 20% since 12/31/2025 because of the following key factors:

1. Weak Q4 2025 Financial Performance and Gross Margin Compression.

Functional Brands reported a significant year-over-year revenue decline of approximately 11% for Q4 2025, reaching $1.50 million. Concurrently, the company experienced a substantial 1400 basis point (14%) contraction in its gross margin for Q4 2025, primarily due to shifts in the Amazon business model and inventory adjustments related to exiting the hemp business.

2. Persistent "Going Concern" Doubts and Financial Restructuring.

As of December 15, 2025, management expressed "substantial doubt" about the company's ability to continue as a going concern, citing a net loss, negative working capital of $1,491,727, and an accumulated deficit of $7,754,767. In March 2026, the company undertook a financial restructuring, exchanging preferred stock for a package of new Series C Convertible Preferred Stock, cash, and secured notes valued at $8,378,000, indicating ongoing financial distress.

Show more

Stock Movement Drivers

Fundamental Drivers

The -21.6% change in MEHA stock from 12/31/2025 to 4/1/2026 was primarily driven by a -41.9% change in the company's Shares Outstanding (Mil).
(LTM values as of)123120254012026Change
Stock Price ($)0.190.15-21.6%
Change Contribution By: 
Total Revenues ($ Mil)77-2.7%
P/S Multiple0.20.338.6%
Shares Outstanding (Mil)712-41.9%
Cumulative Contribution-21.6%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/1/2026
ReturnCorrelation
MEHA-21.6% 
Market (SPY)-5.4%21.1%
Sector (XLP)4.9%10.5%

Fundamental Drivers

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Market Drivers

9/30/2025 to 4/1/2026
ReturnCorrelation
MEHA  
Market (SPY)-2.9%26.9%
Sector (XLP)4.8%-4.1%

Fundamental Drivers

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Market Drivers

3/31/2025 to 4/1/2026
ReturnCorrelation
MEHA  
Market (SPY)16.3%26.9%
Sector (XLP)1.9%-4.1%

Fundamental Drivers

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Market Drivers

3/31/2023 to 4/1/2026
ReturnCorrelation
MEHA  
Market (SPY)63.3%26.9%
Sector (XLP)17.7%-4.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MEHA Return-----93%-16%-94%
Peers Return11%-37%35%-26%15%-10%-28%
S&P 500 Return27%-19%24%23%16%-5%74%

Monthly Win Rates [3]
MEHA Win Rate----0%67% 
Peers Win Rate57%30%58%43%43%40% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
MEHA Max Drawdown-----93%-21% 
Peers Max Drawdown-12%-47%-20%-42%-36%-17% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: HLF, NUS, USNA, NATR, BRBR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/1/2026 (YTD)

How Low Can It Go

MEHA has limited trading history. Below is the Consumer Staples sector ETF (XLP) in its place.

Unique KeyEventXLPS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-17.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven21.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven682 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-24.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven33.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven154 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-16.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven19.9%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven404 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-33.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven50.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven605 days1,480 days

Compare to HLF, NUS, USNA, NATR, BRBR

In The Past

SPDR Select Sector Fund's stock fell -17.5% during the 2022 Inflation Shock from a high on 4/20/2022. A -17.5% loss requires a 21.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Functional Brands (MEHA)

Our company operates in the nutraceutical supplement industry. We are a manufacturer and distributor of supplements in categories such as pain, energy, prenatal, general health, bone and joint, gastro, immunity, cardiac, detox, mental clarity & focus, sleep, prenatal and urinary. Our end markets focus on end-consumers through different channels that include pharmacies, US wholesalers, international distributors and direct-to-consumers sales. Our products are sold over the counter, and consumers do not need a prescription to purchase our products. Our products are not approved by the FDA. Our company also operates in the hemp industry as a retailer of hemp derived products in categories such as capsules, cigarettes, gummies, and tinctures with a commercial end market, and end-consumers. Our Products Kirkman Brand Our “Kirkman” brand products are manufactured in our FDA registered, cGMP certified facility in Lake Oswego, Oregon. Established in 1949, Kirkman specializes in manufacturing nutritional supplements and is one of the oldest companies dedicated to serving the special needs community. Our Kirkman brand offers more than 150 products, including probiotics, enzymes, vitamins, multivitamins, amino acids, antioxidants, immune support, essential fatty acids, preconception, prenatal supplements, personal care products and other specialty products. Kirkman treats patients with autism spectrum disorders and special dietary needs through an established network of over 2,000 doctors in over 40 countries. Our Kirkman brand operates in 95% of the major subsegments in the supplement industry. Kirkman has a long-standing loyal customer and consumer base due to the rigorous testing of products in compliance with FDA requirements. Kirkman has been endorsed by various businesses and celebrities, including the famous and original Shark Tank member, Kevin Harrington. Digestive enzymes: Over the counter oral digestive enzyme supplements are a combination of proteases, which aid protein digestion; lipases, which aid in fat digestion; and amylases, which aid in carbohydrate digestion. These may be prescribed by a doctor in some cases, when the pancreas does not make enough digestive enzymes on its own. People are increasingly taking over the counter (“OTC”) digestive enzymes in lower doses to support general gut health. Essential fatty acids: Also called omega-3 fatty acids, essential fatty acids are important digestive chemicals that the body cannot make on its own. Our products under the Kirkman Brand include, but are not limited to, the following: . Supplements for Autism; . Essential Fatty Acids; . Oxytocin; . Vitamin B12; . Vitamin B6 and Magnesium; . Glutathione; . Melatonin; . Functional Mushrooms; . Probiotics; . Multivitamins and Minerals; and . Digestive Enzymes; . Antioxidants. . Amino Acids; P2i (prenatal) Brand We launched a certified prenatal vitamin in April 2024 for expectant mothers under the P2i by Kirkman brand. These vitamins have been specially formulated by our company to provide essential nutrients for both the mother and the developing fetus. The International Federation of Gynecology and Obstetrics (“FIGO”) published a position statement about toxic chemicals and environmental contaminants in prenatal vitamins. FIGO’s recommendation from the October 2023 position statement highlights that patients should only consume, and clinicians should only prescribe, vitamins and supplements that have been independently assessed to make certain they do not contain contaminants. Manufacturers should be held to a standard of production that assures safety and minimizes contaminants and certification of all prenatal vitamins becomes the standard of care. The FIGO Committee report on Climate Change and Toxic Environmental Exposures brought together global scientists to review reputable reference sources for chemicals that have the potential to impact maternal and newborn health, including the USA Environmental Protection Agency, the European Union, and the California EPA. The group of experts recommended several approaches, including: 1. creating a list of toxic chemicals and contaminants that should be screened for in Prenatal Vitamins and reduced to de minimis standards; and 2. conducting assays of existing vitamins to assess ongoing risk to maternal and newborn health. This work can extend to personal exposure risk by offering women testing for the presence of potentially toxic environmental chemicals. Mass Spectrometry currently offers the most comprehensive measurement. This first publication of a list of toxic chemicals and contaminants represents the most comprehensive testing available at present but does not purport to identify or eliminate all potential sources of toxicity. We are currently the only certified prenatal vitamin in the market that aligns to the FIGO position statement. We have formulated and produced a prenatal vitamin called P2i by Kirkman. There are approximately 3.6 million pregnancies alone in the United States (https://www.cdc.gov/nchs/fastats/births.htm) and the initial market focus for this product will be the United States with the expectation to expand globally since FIGO’s position statement reaches all countries. The P2i by Kirkman prenatal vitamin has been certified by The FORUM, a nonprofit 501(c)(3) organization dedicated to promoting low-toxicity standards for prenatal healthy products. The FORUM operates under a Memorandum of Understanding (MOU) with FIGO, a globally recognized organization of obstetricians and gynecologists. This MOU establishes a shared objective to reduce environmental toxicity in prenatal products. . The certification process involves rigorous testing and evaluation to ensure compliance with The FORUM’s low-toxicity standards, which align with FIGO’s objectives for maternal and fetal health. These standards include: . Analysis of 24 Heavy Metals, ensuring levels are below stringent safety thresholds . Testing for the presence of 120 toxic chemicals, such as pesticides and endocrine disruptors, with strict limits to prevent potential harm . Utilization of ISO 17025-accredited laboratories for all testing to ensure reliability and reproducibility of results . Purity Labs, an ISO 17025-accredited laboratory, as directed by The FORUM, conducted testing, which confirmed the product’s compliance with The FORUM’s criteria. Based on this testing, The FORUM issued its certification, indicating that Kirkman’s prenatal vitamin meets its standards for low toxicity and safety. HempTown Naturals Brand All HempTown Naturals products are produced and sold in compliance with the US 2018 Farm Bill and the US Agricultural Act of 2014. Cannabidiol (“CBD”) and cannabigerol (“CBG”) are cannabinoids present in the cannabis plant. Both CBD and CBG are used in hemp derived products. These products are believed to help in treating certain neurodegenerative and inflammatory conditions(1). CBD CBD is the second most prevalent ingredient in cannabis. While CBD is an integral component of medical marijuana, it is derived directly from the hemp plant, both of which are the same species of Cannabis sativa L. One of the hundreds of components of Cannabis sativa L., CBD does not cause a “high” by itself. According to a report from the World Health Organization, “In humans, CBD exhibits no effects indicative of any abuse or dependence potential. To date, there is no evidence of public health related products associated with the use of pure CBD”(2). As reported by Forbes Health, CBD is applied topically or consumed through smoke inhalation or edible consumption. CBD interacts with neuroreceptors in your endocannabinoid system, which sends signals between your cells to help regulate your movement, mood, homeostasis, and immune system. Different studies have shown that CBD can offset everyday anxiety and depression(3). CBG CBG is another compound found in hemp which doesn’t have intoxicatingly psychoactive effects. CBG, often referred to by experts as “the mother of all cannabinoids,” is the cannabinoid from which other types of cannabinoids (including CBD) are derived, says Michelle Sexton, a naturopathic doctor who works at the Pain Trauma Institute in San Diego. “CBG is the first compound in the biosynthesis (the production of chemical compounds by a living organism) of the other cannabinoids,” she adds. CBG is available in many forms, including tinctures, gummies, capsules and topical creams and lotions. CBG is often coupled with CBD in these products because the two cannabinoids can provide complimentary benefits, such as decreasing inflammation and pain, says Fraser Smith, a naturopathic doctor, as well as assistant dean and associate professor at the National University of Health Services in Lombard, Illinois. CBD and CBG occur naturally in hemp extract which is the source of our cannabinoids(4). Golf Mellow Brand The Company has utilized existing product formulations with plans to introduce 12 different products under the Golf Mellow brand. A brand logo and packaging has been created to support the existing formulations. These supplements will be targeting the golf industry and golf professionals. These products include capsules, a powder, a cream and tinctures to help golfers of all levels improve their game and overall well-being. The capsules are packed with a blend of essential vitamins and minerals that support joint health, flexibility, and energy levels. The tinctures are made from all-natural ingredients and provide a quick and easy way to support focus and mental clarity, helping athletes stay in the zone and make the perfect shot. The creams are specially designed to provide targeted relief for sore muscles and joints, helping them stay comfortable and focused on the course. Some of these products include Sleep Caps to ensure that players are well rested the night before, Super B12 Powder which provides the energy needed for the perfect round, Calm Caps which help manage anxiety when players need it most, and Epsom Salt Cream & Recovery Caps, which aids with recovery. According to data from the National Golf Foundation 28.1 million people (aged six and over) played on a golf course in the United States in 2024 – furthermore there were another 19.1 million people who took part in off-course activities like driving ranges, indoor golf simulators or venues like Topgolf(5). We are currently incorporated and in good standing in the State of Delaware. Our registered address is in Lake Oswego, Oregon.

AI Analysis | Feedback

They're like a premium, specialized supplement company similar to Pure Encapsulations, but with additional brands catering to niche markets like autism support, golfers, and hemp users.

For their P2i prenatal vitamin, they're like the 'Tesla of prenatal supplements', establishing an unprecedented standard for purity and safety in the market.

AI Analysis | Feedback

  • Kirkman Brand Nutritional Supplements: A comprehensive line of over 150 nutritional supplements targeting general health and special needs, including digestive enzymes, essential fatty acids, and products for autism.
  • P2i by Kirkman Certified Prenatal Vitamins: A unique prenatal vitamin independently certified by The FORUM for low toxicity, meeting stringent safety standards aligned with FIGO's recommendations.
  • HempTown Naturals Hemp-Derived Products: Various products containing CBD and CBG, such as capsules, gummies, and tinctures, compliant with US Farm Bills for wellness support.
  • Golf Mellow Performance Supplements: A specialized range of supplements including capsules, powders, creams, and tinctures designed to enhance golfers' performance, focus, energy, and recovery.

AI Analysis | Feedback

Functional Brands (MEHA) primarily sells its products to individual consumers. The company operates through various channels, including pharmacies, US wholesalers, international distributors, and direct-to-consumer sales, but its "end markets focus on end-consumers." No specific customer companies are named as major customers. The company serves the following distinct categories of individual customers:

  • Individuals with special dietary needs: Specifically, the Kirkman brand targets patients with autism spectrum disorders and other special dietary requirements through an established network of doctors.
  • Expectant mothers: The P2i by Kirkman brand is specially formulated prenatal vitamins targeting pregnant individuals.
  • Golfers and golf professionals: The Golf Mellow brand offers supplements, creams, and tinctures designed to support joint health, focus, energy, and recovery for individuals involved in the golf industry.

AI Analysis | Feedback

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AI Analysis | Feedback

Eric Gripentrog, Chief Executive Officer & Director

Eric Gripentrog is a seasoned leader with over 30 years of experience in the Consumer-Packaged Goods (CPG) industry, holding executive roles, including CEO, SVP, and board member across multiple companies. He led domestic and international business units with P&L responsibility at Kellogg from 1992–2018, including as VP/GM of the Caribbean unit and VP of Strategy and Operations for North America. He also served as SVP/GM of Panera Bread's CPG division, achieving double-digit growth, and was CEO and board member of Gina Cucina, a fresh soup manufacturer. Since 2020, he has been CEO of Hemptown USA and a director at Functional Brands and HTO Nevada.

Tariq Rahim, CFO, Principal Accounting Officer & Director

Tariq Rahim is a Chartered Professional Accountant with over 15 years of experience in finance leadership across high-growth startups and publicly listed companies in industries such as cannabis, real estate, and automotive. He specializes in building and evolving finance functions, including expertise in financial modeling, IPO support, and financial reporting. Currently the CFO of Hemptown USA, Tariq has also held leadership roles at Nobul and Canopy Growth Corporation, where he built finance teams, secured funding rounds, and managed major transactions, including the $250M acquisition of Tokyo Smoke Brands by Canopy Growth.

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Key Business Risks for Functional Brands (MEHA)

  1. Regulatory and Compliance Risks: Functional Brands explicitly states that its nutraceutical products are "not approved by the FDA." While its Kirkman brand products are manufactured in an FDA-registered, cGMP certified facility, the lack of individual FDA approval for its product offerings creates a significant regulatory risk. This exposes the company to potential future regulatory actions, increased scrutiny, limitations on marketing claims regarding efficacy and health benefits, and possible consumer distrust if the regulatory landscape for supplements tightens. Additionally, the company operates in the hemp industry with its HempTown Naturals brand. The regulatory environment for hemp-derived products, although currently operating under the US 2018 Farm Bill and US Agricultural Act of 2014, is still evolving and subject to potential changes that could impact production, marketing, and sales of these products. The P2i by Kirkman prenatal vitamin, while certified by The FORUM (a non-profit organization with an MOU with FIGO), relies on this non-governmental certification. There is a risk that this certification may not gain universal acceptance among healthcare professionals or regulatory bodies, or that official governmental standards may emerge that differ or are more stringent, potentially impacting market adoption.
  2. Market Competition and Acceptance of New Brands/Products: The nutraceutical supplement industry is highly competitive. While Functional Brands' Kirkman brand benefits from a long-standing loyal customer base and a specialization in the "special needs community," the company's newer initiatives face significant market competition and the challenge of establishing broad consumer acceptance. The P2i by Kirkman prenatal vitamin, launched in April 2024, aims to differentiate itself through a low-toxicity certification aligned with FIGO's position statement. However, its success hinges on gaining widespread recognition and adoption among expectant mothers and healthcare providers in a market saturated with existing prenatal options. Similarly, the Golf Mellow brand, targeting the golf industry with 12 new products, must effectively penetrate a niche market and resonate with golfers to achieve commercial success against potential competitors or existing solutions.

AI Analysis | Feedback

The primary emerging threat for Functional Brands relates to its P2i (prenatal) brand. Functional Brands currently markets its P2i prenatal vitamin as "the only certified prenatal vitamin in the market that aligns to the FIGO position statement." However, the International Federation of Gynecology and Obstetrics (FIGO) itself recommends that "certification of all prenatal vitamins becomes the standard of care." This creates a clear emerging threat: should other, potentially larger, pharmaceutical or supplement manufacturers quickly adopt similar rigorous testing and certification processes to meet these emerging FIGO standards, Functional Brands will lose its unique "only certified" differentiator. This widespread adoption by competitors would erode P2i's first-mover advantage and threaten its ability to capture and maintain market share based on this specific competitive claim.

AI Analysis | Feedback

The addressable markets for Functional Brands' main products are as follows:

  • Kirkman Brand: null
  • P2i (prenatal) Brand: The addressable market in the United States is approximately 3.6 million pregnancies annually.
  • HempTown Naturals Brand: null
  • Golf Mellow Brand: In the United States, the market includes 28.1 million people who played on a golf course in 2024, and an additional 19.1 million people who participated in off-course golf activities.

AI Analysis | Feedback

Functional Brands (MEHA) is poised for revenue growth over the next 2-3 years, driven by several strategic initiatives and market opportunities:

  1. Expansion and Global Market Penetration of the P2i by Kirkman Prenatal Vitamin: The company launched a uniquely certified prenatal vitamin in April 2024, aligning with the International Federation of Gynecology and Obstetrics (FIGO) position statement on low-toxicity standards. This product is positioned as "currently the only certified prenatal vitamin in the market that aligns to the FIGO position statement" and targets a substantial market of approximately 3.6 million pregnancies in the United States alone, with plans for global expansion.

  2. Continued Growth and Market Penetration of the Kirkman Brand: Leveraging its established reputation since 1949, FDA-registered facility, and cGMP certification, the Kirkman brand offers over 150 products across 95% of major supplement subsegments. Its loyal customer base, network of over 2,000 doctors in 40+ countries, and focus on the special needs community provide a strong foundation for sustained growth, particularly with increasing consumer interest in products like digestive enzymes and essential fatty acids.

  3. Growth in the Hemp-Derived Products Market through the HempTown Naturals Brand: Functional Brands operates in the growing hemp industry with its HempTown Naturals brand, offering CBD and CBG products in various forms. These products capitalize on increasing consumer interest due to perceived benefits for conditions like neurodegenerative and inflammatory issues, anxiety, and pain.

  4. Entry into the Golf-Specific Supplement Market with the New Golf Mellow Brand: The company plans to introduce 12 new products under the Golf Mellow brand, specifically targeting the golf industry and professionals. This initiative aims to address specific needs of golfers, such as joint health, flexibility, energy, focus, muscle relief, sleep, and recovery. This taps into a significant market, with 28.1 million people playing golf in the U.S. in 2024, plus an additional 19.1 million engaged in off-course golf activities.

AI Analysis | Feedback

Share Repurchases

  • Functional Brands repurchased 12,022 Series A Convertible Preferred shares for $180,330, with the transaction closing on December 31, 2025.
  • These repurchased preferred shares are to be cancelled to reduce potential shareholder dilution.

Share Issuance

  • Functional Brands completed a private placement of Series A and Series B preferred stock, generating gross proceeds of $8,000,000, after its direct listing on the Nasdaq Capital Market in November 2025.
  • In March 2026, the company entered into an exchange agreement that included the creation of Series C Convertible Preferred Shares and the issuance of Senior Secured Convertible Notes with a principal amount of $837,800.
  • From its inception through December 31, 2024, the company raised approximately $3,237,683 in gross proceeds from the sales of its stock.

Inbound Investments

  • Functional Brands received $8,000,000 in gross proceeds through a private placement of Series A and Series B preferred stock.

Trade Ideas

Select ideas related to MEHA.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MZTI_3272026_Dip_Buyer_FCFYield03272026MZTIMarzettiDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
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TAP_3272026_Dip_Buyer_FCFYield03272026TAPMolson Coors BeverageDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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KHC_3202026_Dip_Buyer_FCFYield03202026KHCKraft HeinzDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.3%4.3%-1.7%
KMB_3202026_Dip_Buyer_FCFYield03202026KMBKimberly-ClarkDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-1.8%-1.8%-1.9%
MKC_3202026_Dip_Buyer_ValueBuy03202026MKCMcCormickDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-5.2%-5.2%-5.2%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MEHAHLFNUSUSNANATRBRBRMedian
NameFunction.HerbalifeNu Skin .Usana He.Natures .BellRing. 
Mkt Price0.1514.397.3617.2224.4715.6415.02
Mkt Cap0.01.50.40.30.41.90.4
Rev LTM75,0381,4859254802,3211,205
Op Inc LTM-148191512532171
FCF LTM-12534692924737
FCF 3Y Avg-21359392520859
CFO LTM-133380223525458
CFO 3Y Avg-3251045134212104

Growth & Margins

MEHAHLFNUSUSNANATRBRBRMedian
NameFunction.HerbalifeNu Skin .Usana He.Natures .BellRing. 
Rev Chg LTM0.7%0.9%-14.3%8.3%5.7%10.6%3.3%
Rev Chg 3Y Avg--1.1%-12.6%-2.2%4.4%17.7%-1.1%
Rev Chg Q-11.0%6.3%-16.9%5.9%4.7%0.8%2.8%
QoQ Delta Rev Chg LTM-2.7%1.5%-4.8%1.4%1.2%0.2%0.7%
Op Mgn LTM-21.2%9.5%6.1%5.5%5.2%13.8%5.8%
Op Mgn 3Y Avg-8.1%4.2%7.8%4.6%16.9%7.8%
QoQ Delta Op Mgn LTM-15.2%-0.3%2.2%0.9%0.1%-1.6%-0.1%
CFO/Rev LTM-19.2%6.6%5.4%2.4%7.4%11.0%6.0%
CFO/Rev 3Y Avg-6.5%6.0%5.7%7.4%10.6%6.5%
FCF/Rev LTM-19.2%5.0%3.1%0.9%6.0%10.6%4.1%
FCF/Rev 3Y Avg-4.2%3.4%4.3%5.4%10.4%4.3%

Valuation

MEHAHLFNUSUSNANATRBRBRMedian
NameFunction.HerbalifeNu Skin .Usana He.Natures .BellRing. 
Mkt Cap0.01.50.40.30.41.90.4
P/S0.30.30.20.30.90.80.3
P/EBIT1.63.01.77.414.35.84.4
P/E2.46.52.229.621.910.28.4
P/CFO-1.44.54.514.112.17.35.9
Total Yield41.8%15.4%48.1%3.4%4.6%9.8%12.6%
Dividend Yield0.0%0.0%3.3%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-19.3%12.2%5.1%7.4%4.2%7.4%
D/E1.51.50.90.10.00.60.7
Net D/E-0.01.20.2-0.4-0.20.60.1

Returns

MEHAHLFNUSUSNANATRBRBRMedian
NameFunction.HerbalifeNu Skin .Usana He.Natures .BellRing. 
1M Rtn-27.7%-25.2%-8.9%-14.3%-12.0%-13.8%-14.1%
3M Rtn-21.6%11.6%-23.0%-12.3%13.4%-41.5%-16.9%
6M Rtn-94.6%67.7%-37.9%-36.9%57.3%-56.8%-37.4%
12M Rtn-94.6%63.3%4.5%-36.8%88.7%-79.2%-16.2%
3Y Rtn-94.6%-10.6%-79.2%-72.6%139.7%-54.0%-63.3%
1M Excs Rtn-18.2%-15.3%0.9%-7.9%-5.8%-8.2%-8.1%
3M Excs Rtn-29.1%16.7%-19.0%-8.8%18.2%-36.7%-13.9%
6M Excs Rtn-92.9%72.2%-37.2%-35.8%59.4%-55.3%-36.5%
12M Excs Rtn-111.8%49.6%-13.2%-53.3%77.8%-96.2%-33.3%
3Y Excs Rtn-159.9%-76.0%-144.7%-137.8%56.3%-118.2%-128.0%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil202520242023
Kirkman677
Functional Brands (formerly HT Naturals)000
Total777


Short Interest

Short Interest: As Of Date3132026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 2282026-27.2%
Average Daily Volume19.4 Mil
Days-to-Cover Short Interest1
Basic Shares Quantity12.1 Mil
Short % of Basic Shares1.6%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/30/2026-3.3%  
12/15/2025-7.7%-18.8%-25.0%
SUMMARY STATS   
# Positive000
# Negative211
Median Positive   
Median Negative-5.5%-18.8%-25.0%
Max Positive   
Max Negative-7.7%-18.8%-25.0%

SEC Filings

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Report DateFiling DateFiling
12/31/202503/27/202610-K
09/30/202512/15/202510-Q
06/30/202511/06/2025424B4
03/31/202505/30/2025S-1/A
09/30/202401/08/2025S-1
12/31/202208/17/2023DRS/A

Industry Resources

Packaged Foods & Meats Resources
USDA Data