Integrated Biopharma Inc
Integrated BioPharma, Inc. is a Delaware-based nutraceutical company that manufactures, distributes, markets, and sells vitamins, nutritional supplements, and herbal products. Its business is split between contract manufacturing for branded supplement customers and other business lines that include warehousing, fulfillment, and raw-material distribution.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueManufactures vitamins and nutritional supplements for third-party brands and distributors.
Provides storage, order fulfillment, and logistics support through MDC Warehousing and Distribution.
Distributes selected raw materials, including nutritional ingredients, through Chem International.
Includes inactive subsidiaries and smaller support activities not classified elsewhere.
Customers
The company sells primarily to branded supplement companies, distributors, multilevel marketers, and specialized health-care providers. Its customer base is highly concentrated, with Life Extension and Herbalife accounting for most consolidated sales in fiscal 2025, while smaller customers use the warehousing and raw-material businesses for logistics and supply support.
Buy contract-manufactured vitamins and supplements for their own distribution channels and brand portfolios.
Source private-label nutraceutical products manufactured to their specifications for direct selling networks.
Purchase niche nutritional products and herbal formulations for patient or member use.
Use the company for storage, order processing, and shipping support tied to nutraceutical distribution.
Buy selected nutritional ingredients and related raw materials through the distribution business.
Strategy
Management is focused on retaining its large contract-manufacturing customers while broadening the customer base to reduce concentration risk. It also emphasizes cost control, competitive pricing, and niche international retail products, while investing modestly in machinery and equipment to support operations.
Most revenue comes from two customers, so diversification is critical to stabilize sales and cash flow.
Pricing pressure and inflation can compress margins if the company cannot pass through cost increases.
Machinery, equipment, and fulfillment capacity support service reliability and customer retention.
Geography
Q1/2026The company’s customers are located primarily in the United States and Luxembourg, and its business therefore depends on North American and cross-border nutraceutical demand. Its supply chain also reaches beyond the U.S. for raw materials, capsules, coatings, and packaging, which exposes operations to transportation delays and import-related disruption.
Share of the revenue the company reports by geography.
Risks
The company is highly exposed to customer concentration, with most sales tied to two contract-manufacturing clients. It also faces supply-chain, inflation, regulatory, and cybersecurity risks that are typical for nutraceutical manufacturers but can be amplified by its small scale and reliance on third-party inputs.
- Customer concentrationImpact: CriticalLikelihood: Medium
Approximately 84% of consolidated net sales came from two customers in fiscal 2025, so a loss or slowdown would materially hit revenue and margins.
Exposure: Life Extension and Herbalife
- Supply-chain disruptionImpact: HighLikelihood: High
The company depends on timely receipt of raw materials and transportation capacity, which can be disrupted by geopolitical events, shipping delays, or supplier issues.
Exposure: Inbound ingredients and outbound shipments
- Inflation and pricing pressureImpact: HighLikelihood: High
Higher labor, shipping, and supplier costs may not be fully passed through, compressing gross margin.
Exposure: Manufacturing and logistics costs
- Regulatory complianceImpact: MediumLikelihood: Medium
Nutraceutical products are subject to food, supplement, and manufacturing regulations, and non-compliance could lead to enforcement actions or claims.
Exposure: Product quality and labeling
- Cybersecurity breachImpact: MediumLikelihood: Low
A breach could interrupt systems, expose confidential information, and create remediation and legal costs.
Exposure: Operational systems and data
Accounting
Judgemental itemsNet sales depend on estimating returns, rebates, charge-backs, and other allowances at the time of sale.
Impact: Can change reported revenue and gross margin
The company must assess slow-moving, expired, or obsolete nutraceutical inventory.
Impact: Can create write-downs that reduce gross profit
Manufacturing and warehouse assets must be tested if cash flows weaken or utilization falls.
Impact: Can lead to non-cash impairment charges
Net operating loss carryforwards and deferred tax assets require judgment about realizability.
Impact: Can materially affect tax expense and net income
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Last updated: 24/09/2026