Athletic Greens (AG1) Startup Diligence Report
Proceed only to confirmatory diligence. A credible underwriting case requires reconciling public valuation and $600M media revenue leads to audited financials, cohort retention, gross margin, CAC/payback, channel economics, regulatory-safe product claims, litigation exposure, current cap table and supplier quality systems.
Athletic Greens (AG1) Startup Diligence Report
Athletic Greens/AG1 remains eligible for this private-unicorn diligence report: CB Insights lists it as a current private unicorn at $1.32B, and 2026 retail/media/careers signals show active operations. Public evidence is strongest for financing/status, product surface, leadership transition, partnerships, selected clinical activity and IP records; financial quality, customer economics, legal exposure and operations remain private-data questions.
Public sources show valuation and media revenue anchors, but audited financials, unit economics, cash/debt and forecast assumptions are not public.
Diligence request: Require full financial statements, KPI pack, cash/debt schedule, revenue-recognition memo and valuation/cap-table bridge.
Public litigation sources include dismissed 2024 litigation and a 2026 automatic-renewal complaint allegation.
Diligence request: Have counsel review all ARL, ROSCA, state subscription, checkout, cancellation and refund processes plus litigation status.
Clinical activity and certification exist, but broad health claims, ingredient synergies, adverse-event handling and labeling compliance need expert review.
Diligence request: Commission regulatory/scientific review of labels, ads, substantiation files, clinical protocols, adverse-event logs and quality systems.
DTC, podcast, retail and event channels are public, but revenue contribution, concentration, retention and partner economics are private.
Diligence request: Request channel cohort data, contracts, sell-through, partner-sourced revenue and top-customer or subscriber concentration.
Competing greens powders with similar ingredient-count positioning and mass retail distribution create pricing and differentiation pressure.
Diligence request: Run a market-share, pricing-elasticity, brand-awareness and retention benchmarking study against greens and supplement competitors.
Public reporting has raised founder-background and science-transparency criticism, requiring governance and communications diligence.
Diligence request: Review board minutes, public-response strategy, founder role, background checks, dispute history and PR/legal readiness.
Product quality claims reference NSF and TGA-registered manufacturing, but supplier identity, batch testing, capacity and recall history are not public.
Diligence request: Request supplier contracts, manufacturing audits, batch testing, recall/adverse-event logs, SLAs and business-continuity plans.
Public careers sources show remote/global operations but not headcount by function, attrition, critical-role coverage or 2026 hiring capacity.
Diligence request: Request HRIS export, org chart, open roles, turnover, retention, compensation, key-person plans and leadership references.
Public evidence verifies Athletic Greens/AG1 as a CB Insights private unicorn with 2022 financing and latest-known $1.32B list valuation, but investment-grade financials, cap table, cash/debt, revenue quality and forecast assumptions remain private.
not publicly verifiable confidence: high
Public sources provide media revenue and pricing leads but no audited statements, management reports, product/channel gross profit, backlog or AR aging.
| signal | public evidence | diligence caveat | private request | verification status |
|---|---|---|---|---|
| Revenue scale | $600M annual revenue level reported in media. | No audited statements, revenue-recognition policy, returns or channel mix. | Audited financials, management accounts, revenue bridge and channel P&L. | unverified |
| Price point | $99 one-time 30-day supply or $79 monthly subscription per review source. | Checkout, discounts, refunds and retailer wholesale price not confirmed. | SKU pricing waterfall, promotional calendar, refunds and gross margin by SKU/channel. | partially_verified |
| Growth history | TechCrunch quoted company context around high 2021 revenue/customer growth. | Historical cohort and retention quality not public. | Cohort retention, NRR/GRR if applicable, subscription churn and CAC/payback. | partially_verified |
| Cash, debt, AR/backlog | No public source reviewed disclosed cash, debt, AR aging or backlog. | Cannot assess runway or working-capital risk. | Cash/debt schedule, AR aging, inventory and working-capital schedules. | not_publicly_verifiable |
not publicly verifiable confidence: medium
Public valuation and revenue anchors frame diligence but do not verify projections, pricing assumptions, external financing assumptions or capital needs.
partially verified confidence: medium
Public sources identify some investors and board roles but not shares outstanding, fully diluted ownership, preferences, options, warrants, notes, debt or off-balance-sheet obligations.
| stakeholder or group | public position | known terms | diligence caveat | evidence status |
|---|---|---|---|---|
| Chris Ashenden | Founder; former CEO; board alongside Kat Cole per Athletech News | Equity ownership not public | Founder stock, vesting, board rights and key-person terms private. | verified role / not_publicly_verifiable ownership |
| Alpha Wave Ventures | Lead investor in $115M 2022 financing | $115M round led by Alpha Wave; precise allocation not public | Preferences, rights and ownership percentage private. | verified investor / not_publicly_verifiable terms |
| SC.Holdings, Bolt Ventures, Not Boring Capital | Named investors on CB Insights and/or BusinessWire release | Participation noted; terms not public | Cap table, pro rata, voting and information rights private. | verified investor names / not_publicly_verifiable terms |
| Mark Vadon and Rick Gerson | Board additions announced in 2022 release | Board roles announced; equity/rights not public | Board consents and fiduciary arrangements private. | partially_verified |
partially verified confidence: medium
Financing history has public anchors, but tax positions, accounting policies and round-by-round ownership/current basis remain private.
| date | event | amount or metric | valuation or status | source note | verification status |
|---|---|---|---|---|---|
| 2010 | Company founded / AG1 brand origin | Not disclosed | Operating company origin | TechCrunch says New York-based company got its start in 2010 by founder Chris Ashenden. | verified |
| 2022-01-25 | $115M funding led by Alpha Wave Ventures | $115M | $1B+ company release; $1.2B pre-money in TechCrunch | Financing terms and preference stack not public. | verified |
| 2026-06-04 access | Current CB Insights unicorn-list row | $1.32B latest known valuation | Private unicorn row; joined 2022-01-25 | Secondary database; confirm with financing records. | verified |
| 2026 media | Revenue-scale media claim | $600M annual revenue referenced by media | Not a financing valuation | Unaudited media claim; needs revenue bridge. | unverified |
AG1 has a clear public product surface, pricing anchors, quality/certification claims and clinical/science signals, but product efficacy, quality systems, roadmap, margins and defensibility need private/expert validation.
partially verified confidence: medium
Public sources support AG1 as the flagship foundational nutrition drink with 75-ingredient positioning, subscription pricing, NSF listing and clinical-study activity; growth rates, market share, profitability, roadmap and SKU economics are not public.
| product or surface | audience | public features | commercial model | verification status |
|---|---|---|---|---|
| AG1 Daily Health Drink / foundational nutrition powder | Consumers seeking daily supplement / greens powder | 75 ingredients; multivitamin, multimineral, probiotic/prebiotic, greens and immune support positioning. | DTC subscription/one-time purchase and retail expansion. | partially_verified |
| Formula iteration / next-generation upgrades | Existing and new AG1 customers | Company described AG1 as on its 52nd iteration in 2022 and trade coverage describes continuous formulation upgrades. | Not separately priced in public sources reviewed. | verified public claim / unverified performance |
| Future/new products | Not publicly specified | Head of Nutrition remit includes developing new products, but pipeline details not public. | Not public | not_publicly_verifiable |
| brand | public price or pack | ingredient or claim signal | channel source | diligence caveat |
|---|---|---|---|---|
| AG1 | $99 30-day supply; $79 monthly subscription per dietitian review | 75 ingredients; foundational nutrition positioning | Top Nutrition Coaching / BusinessWire | Current checkout and wholesale price not verified. |
| Huel Daily Greens | 30 servings; price not captured in fetched page | 91 vitamins/minerals/wholefood-sourced ingredients; probiotics | Amazon listing | Retail listing only; subscription price and margin unknown. |
| Bloom Nutrition Greens and Superfoods | 5.3oz / 30ct Target listing; price not captured in fetched page | Greens and Superfoods powder dietary supplement | Target listing | Retail listing only; actual price and sell-through unknown. |
| Category diligence request | Not publicly complete | Competitor claims vary by retailer and SKU | Market research required | Commission full price-pack architecture and market-share work. |
| signal | public evidence | scope | gap | verification status |
|---|---|---|---|---|
| NSF Certified for Sport | NSF directory lists Athletic Greens AG1. | Certification listing for product; details depend on NSF program scope. | Obtain current certificates, covered SKUs/lots and audit findings. | verified |
| TGA-registered facility | Company release states AG1 is made in a TGA-registered facility. | Manufacturing facility claim. | Facility name, audit, supplier contract and batch history not public. | partially_verified |
| Clinical trials/publications | PMC RCT and ClinicalTrials.gov study exist. | Specific endpoints and study populations. | Claims substantiation files and adverse-event logs needed. | verified public activity |
Public sources show subscribers, retail, sport and podcast/channel relationships, but top-customer lists, subscriber cohorts, revenue concentration, severed relationships and supplier spend are private.
partially verified confidence: medium
Public sources identify demand channels, not top customers by revenue or application.
| signal type | public evidence | what it may indicate | missing private data | verification status |
|---|---|---|---|---|
| Subscribers / DTC customers | Company release referenced subscriber-base growth. | DTC/subscription model exists. | Subscriber count, churn, retention, cohorts and refunds. | partially_verified |
| Retail customers / stores | The Vitamin Shoppe launch in over 640 locations. | National retail distribution channel. | Retail sell-through, wholesale margins, returns and inventory commitments. | verified |
| Athletes/fans | IRONMAN Official Supplement Partner extension. | Endurance athlete audience and event sampling. | Sponsorship cost, conversion and attributed revenue. | verified |
| Podcast audience | Huberman Lab lists AG1 as current sponsor. | Influencer/podcast acquisition channel. | CPA, ROAS, promo-code conversions and contract terms. | verified |
verified confidence: medium
The Vitamin Shoppe, IRONMAN and Huberman Lab relationships are public, but economics and contractual commitments are not.
| partner | nature | public evidence | economic gap | risk note |
|---|---|---|---|---|
| The Vitamin Shoppe / Super Supplements | First national specialty retail partner; over 640 locations | PRNewswire partner release. | Wholesale pricing, margins, inventory, returns, termination rights. | Channel margin and retail execution risk. |
| IRONMAN | Official Supplement Partner for IRONMAN and IRONMAN 70.3 Global Series | Endurance Sportswire partnership extension. | Sponsorship fee, sampling obligations and ROI. | Brand-channel value depends on conversion. |
| Huberman Lab | Current podcast sponsor with dedicated AG1 partner link | Huberman sponsor page. | Media spend, attribution, renewal terms. | Influencer dependence and reputational adjacency. |
| Scientific Advisory Council / experts | Advisory/science support including named expert context in company release | BusinessWire Head of Nutrition announcement. | Advisory agreements, conflicts and independence. | Substantiation and credibility risk. |
not publicly verifiable confidence: high
No public source discloses revenue by customer/channel or any 5%+ customer concentration.
not publicly verifiable confidence: high
No complete public list of severed customer, partner or supplier relationships was found.
partially verified confidence: medium
Public sources reference quality/manufacturing and certification dependencies but not supplier identities, spend or agreements.
| dependency | role | public evidence | concentration risk | diligence request |
|---|---|---|---|---|
| Unnamed TGA-registered manufacturing facility | Product manufacturing | Company release says AG1 is made in a TGA-registered facility. | Unknown single/dual-source and capacity risk. | Manufacturing contracts, capacity, audits, recalls, quality KPIs. |
| NSF Certified for Sport | Third-party certification / quality signal | NSF directory lists Athletic Greens AG1. | Certification lapse could affect athlete positioning. | Current certificates, covered SKUs and audit findings. |
| Retail distribution partners | Retail channel availability | Vitamin Shoppe launch over 640 locations. | Returns, stockouts, retailer performance and margin risk. | Retail contract, sell-through, inventory aging and returns. |
| Subscription/payment platform | DTC auto-renewal billing | Subscription pricing and litigation allegations imply recurring billing operations. | Legal/compliance and cancellation-process risk. | Billing platform, checkout flows, cancellation logs and compliance audit. |
AG1 operates in a crowded greens/foundational nutrition category where public product descriptors and retail channels show feature and price-pressure risk; rigorous market-share and retention evidence is not public.
partially verified confidence: medium
AG1 has premium/science/channel positioning, but competitor listings show similar greens-powder ingredient breadth and retail access, requiring independent market and price elasticity diligence.
| company or brand | segment | public product signal | public channel signal | ag1 implication |
|---|---|---|---|---|
| AG1 | Premium foundational nutrition / greens powder | 75 ingredients; NSF Certified for Sport; AG1 daily health drink. | DTC subscription, The Vitamin Shoppe retail, IRONMAN, Huberman. | Strong brand/channel surface but needs proof of retention and margin. |
| Huel Daily Greens | Greens powder / daily supplement | Amazon listing references 91 vitamins/minerals/wholefood-sourced ingredients and 30 servings. | Retail marketplace listing. | Ingredient-count messaging is not unique. |
| Bloom Nutrition Greens and Superfoods | Mass-market greens/superfoods powder | Target listing shows 5.3oz/30ct greens and superfoods powder. | Mass retail availability at Target. | Retail shelves have lower-priced/mass alternatives; price elasticity should be tested. |
| Other supplement/functional nutrition competitors | Broad supplement category | Not exhaustively collected in this run. | Online, retail, influencer and specialty channels. | Need full market map before underwriting market share. |
| axis | ag1 public position | competitor position | risk or gap | evidence status |
|---|---|---|---|---|
| Price | $79 subscription / $99 one-time per review source | Competitor prices not fully collected; mass retail likely creates price references. | Price premium and churn sensitivity need cohort data. | partially_verified |
| Ingredient breadth | 75 ingredients | Huel listing claims 91 vitamins/minerals/wholefood-sourced ingredients. | Ingredient count alone is weak defensibility. | verified public claims |
| Certification/science | NSF listing and clinical study activity | Not benchmarked | Need substantiation comparison and regulatory review. | partially_verified |
| Distribution/brand | DTC, podcast, endurance sport, retail over 640 locations | Mass retail competitors exist through Target/Amazon. | Channel economics and media efficiency private. | verified public channels |
AG1 shows broad public GTM surfaces—subscription pricing, retail, podcast sponsorship, endurance sports and social presence—but sales productivity, budgets, CAC/payback and channel profitability are private.
partially verified confidence: medium
Public GTM includes DTC subscription and expanding retail/partnership channels, but implementation budget and channel economics are not public.
| channel | public evidence | likely motion | missing metrics | risk note |
|---|---|---|---|---|
| DTC subscription / one-time online | Pricing review reports subscription and one-time purchase options. | Recurring consumer acquisition and retention. | CAC, LTV, churn, refunds, payback, conversion. | Subscription compliance and churn risk. |
| Specialty retail | Vitamin Shoppe over 640 locations. | Retail distribution and associate guidance. | Sell-through, margin, returns, inventory. | Retail execution and channel conflict. |
| Podcast/influencer | Huberman Lab sponsor page. | Partner links / promo attribution. | CPA, ROAS, conversion, renewal. | Influencer concentration/reputation. |
| Sports/event sponsorship | IRONMAN partnership extension. | Event activation, sampling and athlete education. | Sponsorship ROI and partner obligations. | Brand lift uncertain without attribution. |
not publicly verifiable confidence: high
Major customer relationships and pipeline are not public beyond channel/partner signals.
verified confidence: medium
Public avenues include subscription, retail, podcast/sponsor links, event activation and social/recruiting presence.
| signal | public metric or fact | source | diligence use | caveat |
|---|---|---|---|---|
| LinkedIn audience | Approx. 112,003 followers in fetched page. | Directional brand/recruiting reach. | Not customers or revenue. | |
| Podcast sponsor channel | AG1 listed as Huberman Lab current sponsor. | Huberman Lab | Influencer/channel evidence. | No CAC or conversion. |
| Endurance sports partnership | IRONMAN Official Supplement Partner. | Endurance Sportswire | Athletic/endurance market positioning. | Sponsorship economics unknown. |
| Retail availability PR | Over 640 specialty retail locations. | PRNewswire / Vitamin Shoppe | Retail distribution footprint. | Sell-through and margin unknown. |
not publicly verifiable confidence: high
Sales compensation, quotas, sales cycle and new-hire plan are not publicly verifiable.
| metric | public signal | status | why it matters | private request |
|---|---|---|---|---|
| Sales compensation and quota | No public disclosure reviewed. | not_publicly_verifiable | Determines scalability and CAC payback. | Sales comp plan, quota attainment and hiring plan. |
| Sales cycle / retail onboarding | Retail launch announced but contract economics not public. | not_publicly_verifiable | Retail lead times affect working capital and forecast risk. | Retail pipeline, onboarding timeline, sell-in/sell-through by account. |
| Marketing budget and ROAS | Podcast and event partnerships visible. | not_publicly_verifiable | Media efficiency drives profitable growth. | Spend by channel, attribution model, CAC, ROAS, LTV by cohort. |
not publicly verifiable confidence: high
Public evidence does not disclose marketing budget, projected spend or ability to fund the plan.
AG1 has public science leadership, formulation-iteration and clinical-study signals, but R&D budget, protocols, claims substantiation, quality systems and product pipeline timing need private expert diligence.
partially verified confidence: medium
Public sources identify science/nutrition leadership and advisory signals but not full R&D organization, budget or responsibilities.
| person or group | public role | public background or remit | diligence caveat | verification status |
|---|---|---|---|---|
| Dr. Ralph Esposito | Head of Nutrition / Chief Science and Nutrition Officer in trade coverage | Research, innovation, new products and continuous improvement of AG1. | Confirm current role, employment terms, conflicts and IP assignments. | verified |
| Kat Cole | CEO involved in product strategy discussions | CEO in Nutrition Insight and Entrepreneur coverage. | Need org chart, operating cadence and product decision rights. | verified |
| Scientific Advisory Council | Company-announced advisory context including Peter Attia and Andrew Huberman | Science/advice around product and nutrition positioning. | Advisor agreements, independence and compensation private. | partially_verified |
partially verified confidence: medium
Public evidence shows formulation iteration and studies, but pipeline status, cost, critical technologies and launch risks are not public.
| item | status or date | public evidence | commercial relevance | diligence gap |
|---|---|---|---|---|
| AG1 formulation iteration | 52nd iteration as of 2022 release | BusinessWire Head of Nutrition release. | Shows ongoing formulation work. | Change-control, quality and customer-impact records. |
| Blood-safety biomarker RCT | Published/open-access article | Randomized triple-blind placebo-controlled trial in 120 healthy adults over 12 weeks. | Supports selected safety endpoints. | Conflicts, endpoints, adverse events, claim substantiation. |
| NCT06332898 Nutrient Status and Quality of Life | Completed; start 2024-03-31; completion 2025-02-04; enrollment 105 | ClinicalTrials.gov registry. | Shows ongoing clinical research activity. | Full protocol, results and marketing claims linkage. |
| Personalization / product development | 2025 trade interview | Nutrition Insight discusses continuous upgrades and personalization context. | May shape future roadmap. | Roadmap, capex/R&D budget and launch timing private. |
Public evidence verifies key leadership and remote/global operating signals, but current org chart, headcount by function/location, compensation, equity plans, employee relations and turnover are private.
partially verified confidence: medium
A partial public leadership map can be assembled, but full reporting lines and board/committee structure are not public.
partially verified confidence: medium
AG1 careers page verifies remote/global footprint but not actual headcount by function/location or projected hiring.
| signal | public evidence | interpretation | limitation | request |
|---|---|---|---|---|
| Remote/global footprint | Remote-first since 2010; teammates in more than 20 countries; operations across NA/EU/Asia. | Distributed operating model. | No headcount by country/function. | HRIS export by function/location, employer-of-record and compliance setup. |
| Open roles | Workable page displayed no current openings at access. | Hiring pause or page timing, not definitive. | Could be stale or roles hosted elsewhere. | Current hiring plan and requisition list. |
| Public audience/recruiting reach | LinkedIn page showed approx. 112,003 followers. | Brand/recruiting visibility. | No employee count or turnover. | Employee count, attrition, engagement, critical roles. |
| 2022 workforce-growth ambition | Company release said it expected to triple workforce in 2022. | Historical growth plan. | Actual hiring outcome not public. | Historical headcount bridge and current org plan. |
verified confidence: medium
Public sources identify CEO, founder/former CEO and science/nutrition leader; complete bios, references and background checks require private diligence.
| name | role | tenure or context | source | diligence request |
|---|---|---|---|---|
| Kat Cole | CEO; board of directors | Named CEO in 2024 after serving as president/COO since 2021 per Athletech News. | Athletech News / Entrepreneur / Nutrition Insight | Employment agreement, compensation, board role and performance targets. |
| Chris Ashenden | Founder; former CEO; board role | Founder since 2010; stepped down as CEO in 2024 per Athletech News. | TechCrunch / Athletech News | Founder equity, ongoing duties, key-person and reputation review. |
| Dr. Ralph Esposito | Head of Nutrition / Chief Science and Nutrition Officer signal | Appointed Head of Nutrition in 2022; trade coverage identifies science/nutrition leadership. | BusinessWire / Nutrition Insight | Current role, team size, IP assignment, study responsibility and conflicts. |
not publicly verifiable confidence: high
Key employment agreements, compensation and benefit plans are not public.
not publicly verifiable confidence: high
Incentive stock plans, option pool and equity grants are not public.
not publicly verifiable confidence: high
No complete public employee-relations history was available.
partially verified confidence: medium
Public evidence captures CEO transition but not broader turnover or retention metrics.
| person or metric | public signal | date or period | risk interpretation | private request |
|---|---|---|---|---|
| Chris Ashenden CEO transition | Founder stepped down as CEO; Kat Cole named CEO. | 2024-07 | Material leadership transition; succession appears public but founder role remains relevant. | Board minutes, transition plan, founder duties and communications plan. |
| Employee turnover | No public turnover rates found in reviewed sources. | Last two years | Retention risk cannot be assessed. | Turnover by function/location, regretted attrition and retention analysis. |
| Hiring plan | Workable page showed no current openings at access. | 2026-06-04 access | May signal pause, mature hiring, or incomplete source. | Budgeted headcount plan and requisition pipeline. |
Public legal/IP sources show active AG1 trademark protection, an abandoned related mark, clinical-trial registration, a dismissed 2024 matter and a 2026 automatic-renewal complaint allegation; insurance, contracts, full litigation, regulatory history and counsel assessments remain private.
partially verified confidence: medium
Public litigation signals include a dismissed Murphy matter and a 2026 Hoke complaint allegation; current exposure requires counsel confirmation.
| case or matter | court or source | filed or published | public status | diligence caveat |
|---|---|---|---|---|
| Murphy v. Athletic Greens (USA), Inc. | SDNY case 1:24-cv-05194 via PacerMonitor | Filed 2024-07-09; dismissal entries 2024-09-20 | Voluntary dismissal with prejudice / order of dismissal per docket aggregator. | Verify on PACER; request settlement/settlement absence and counsel memo. |
| Hoke v. AG1 complaint | Complaint PDF hosted by Truth in Advertising | Published 2026-02-18 | Putative class complaint alleging automatic-renewal scheme; allegations unproven. | Verify docket, procedural status, response, class status and exposure with counsel. |
| Other lawsuits | Not exhaustively searched across all state/federal dockets | N/A | Not publicly verifiable from reviewed sources. | Run full litigation search and request litigation schedule. |
not publicly verifiable confidence: high
No complete public schedule of company-initiated litigation was available.
| matter type | public evidence | verification status | risk or gap | diligence request |
|---|---|---|---|---|
| Claims initiated by Athletic Greens/AG1 | No company-initiated litigation schedule was found in reviewed public sources. | not_publicly_verifiable | Cannot assess IP enforcement, contract disputes or collections. | Provide complete litigation schedule and counsel letter. |
| IP oppositions/enforcement | USPTO records reviewed for selected marks, but TTAB/litigation enforcement not comprehensively searched. | inconclusive | Brand protection posture unclear. | Provide IP enforcement/opposition history and pending disputes. |
not publicly verifiable confidence: medium
Product manufacturing and safety liability data are not public beyond certification/manufacturing claims.
partially verified confidence: high
Core AG1 trademark is active, but related AG1 ATHLETIC GREENS application was abandoned; full IP portfolio and licenses are not public.
| asset | jurisdiction or body | public status | public evidence | diligence request |
|---|---|---|---|---|
| AG1 word mark | USPTO | Registration number 6886117; LIVE/REGISTRATION/Issued and Active | TSDR serial 90975685. | Confirm ownership, assignments, coexistence agreements and international marks. |
| AG1 ATHLETIC GREENS word mark | USPTO | DEAD/APPLICATION/Refused/Dismissed or Invalidated; abandoned | TSDR serial 90596003. | Ask IP counsel why application was abandoned and whether brand-transition risk remains. |
| Athletic Greens AG1 certification listing | NSF Certified for Sport | Directory listing observed for Athletic Greens AG1. | NSF product listing. | Obtain current certificates, scope, expiration and audit correspondence. |
| Patents, copyrights, licenses | Multiple | Not comprehensively verified publicly in this run. | No patent portfolio source reviewed. | Provide IP schedule, licenses, formulation trade secrets, inventions and assignment records. |
not publicly verifiable confidence: high
Insurance coverage and claims history are not public.
not publicly verifiable confidence: high
Material contracts with investors, suppliers, retailers, sponsors, advisors and platforms are not public.
inconclusive confidence: medium
No public final agency action was verified, but dietary supplement claims, clinical trials, subscription allegations and science-transparency reporting create regulatory/compliance diligence needs.
| area | public signal | verification status | diligence request |
|---|---|---|---|
| Dietary supplement claims/labeling | AG1 marketing references nutrition, gut health, immunity, certification and clinical science; review source notes supplement claims are not monitored like drugs. | partially_verified | Provide labels, ad copy, substantiation files, legal review and adverse-event logs. |
| Clinical trial transparency | ClinicalTrials.gov lists completed AG1 study sponsored by Athletic Greens International with no registry results posted at access. | verified public registry / gap on results | Provide study report, protocol, SAP, publications and claims matrix. |
| Auto-renewal / subscription compliance | Hoke complaint alleges automatic-renewal scheme; Murphy matter dismissed. | inconclusive | Legal memo on ARL/ROSCA/state laws; checkout and cancellation audit. |
| Insurance, safety, environmental | No insurance policies, product-liability coverage or environmental/safety liabilities were public. | not_publicly_verifiable | Provide insurance schedule, claims history and recall/product liability coverage. |
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights lists Athletic Greens as a current private unicorn with a $1.32B latest known valuation, joined date of 2022-01-25, United States/New York geography, Healthcare & Life Sciences industry and investors SC.Holdings, Not Boring Capital and Bolt Ventures. | verified high | SRC-001 |
| EC-002 | Athletic Greens announced $115M of new funding in January 2022 led by Alpha Wave Ventures with a valuation exceeding $1B and participation from strategic investors including SC.Holdings, Bolt Ventures, Dr. Peter Attia and Not Boring Capital. | verified medium | SRC-002 |
| EC-003 | TechCrunch reported the same January 2022 financing as $115M at a $1.2B pre-money valuation and described Athletic Greens as New York-based, founded in 2010 by Chris Ashenden and maker of AG1. | verified high | SRC-003 |
| EC-004 | AG1 is publicly positioned as a foundational nutrition drink combining multiple supplement categories and 75 vitamins, minerals and whole-food-sourced ingredients, with NSF Certified for Sport and TGA-registered facility claims. | partially verified medium | SRC-002SRC-023 |
| EC-005 | A public dietitian-reviewed pricing source reports AG1 costs $99 for a 30-day supply or $79 per month with a subscription and offers a 90-day money-back guarantee. | partially verified medium | SRC-004 |
| EC-006 | Media reports in 2025-2026 reference a $600M annual revenue level or strategy for AG1, but public evidence does not provide audited revenue, revenue recognition, gross margin, cohort retention or cash data. | partially verified low | SRC-006SRC-007 |
| EC-007 | In July 2024 AG1 named Kat Cole CEO, succeeding founder Chris Ashenden, who had served as CEO since founding the brand in 2010; Cole remained on the board alongside Ashenden according to Athletech News. | verified high | SRC-005 |
| EC-008 | Public reporting has raised science-transparency and founder-credibility criticisms that require legal, communications and governance diligence rather than treatment as adjudicated facts. | inconclusive medium | SRC-007 |
| EC-009 | AG1 publicly describes itself as a remote-first global company with teammates in more than 20 countries and business operations spanning North America, Europe and Asia; its Workable page showed no open jobs at access. | verified medium | SRC-008 |
| EC-010 | AG1 maintains a public LinkedIn company presence in Wellness and Fitness Services with roughly 112,000 followers at access. | verified medium | SRC-009 |
| EC-011 | The Vitamin Shoppe announced AG1 availability in more than 640 stores and identified itself as AG1’s first national specialty retail partner in January 2026. | verified high | SRC-010 |
| EC-012 | IRONMAN and AG1 announced a partnership extension under which AG1 continues as Official Supplement Partner of the IRONMAN and IRONMAN 70.3 Global Series. | verified high | SRC-011 |
| EC-013 | Huberman Lab publicly lists AG1 as a current sponsor with a dedicated partner link. | verified medium | SRC-012 |
| EC-014 | Athletic Greens appointed Dr. Ralph Esposito Head of Nutrition in 2022, describing his remit as research, innovation, new products and continuous improvement of AG1, then on its 52nd iteration. | verified medium | SRC-013 |
| EC-015 | AG1 executives publicly describe an all-in-one supplement strategy with continuous formulation upgrades and gut-health positioning in the context of personalization trends. | verified medium | SRC-014 |
| EC-016 | An open-access AG1 randomized clinical trial article reports a randomized, triple-blind, placebo-controlled trial in 120 healthy adults over 12 weeks focused on blood safety biomarkers. | verified medium | SRC-015 |
| EC-017 | ClinicalTrials.gov lists NCT06332898 as completed, sponsored by Athletic Greens International, with AG1 and placebo arms, actual enrollment of 105 and 2024-2025 study dates. | verified high | SRC-016 |
| EC-018 | USPTO records show AG1 serial 90975685 is registered and active, while AG1 ATHLETIC GREENS serial 90596003 was abandoned after failure to respond or late response to an Office action. | verified high | SRC-017SRC-018 |
| EC-019 | PacerMonitor lists Murphy v. Athletic Greens (USA), Inc., SDNY case 1:24-cv-05194, with a September 2024 voluntary dismissal with prejudice and order of dismissal. | verified medium | SRC-019 |
| EC-020 | A 2026 Hoke v. AG1 class-action complaint alleges an illegal automatic-renewal subscription scheme; these are unproven allegations unless adjudicated or resolved. | inconclusive medium | SRC-020 |
| EC-021 | Public competitor product listings show Huel Daily Greens as a 30-serving greens powder with 91 vitamins/minerals/wholefood-sourced ingredients and Bloom as a 30-count Greens and Superfoods powder sold through Target. | verified medium | SRC-021SRC-022 |
| EC-022 | Athletic Greens remains an active operating private-company diligence target based on the current CB Insights private-unicorn listing and 2026 public retail, media and careers signals; no public source reviewed confirmed IPO, acquisition or shutdown. | partially verified medium | SRC-001SRC-006SRC-008SRC-010 |
| EC-023 | Public sources do not disclose audited financial statements, current cap table, debt schedule, customer concentration, supplier spend, sales productivity, employee turnover, insurance coverage or material contracts. | not publicly verifiable high | SRC-001SRC-002SRC-003SRC-004SRC-008SRC-010SRC-019SRC-020 |
| EC-024 | Athletic Greens framed its 2022 financing against a global health and wellness market approaching $7T and described AG1 as the world’s top-selling foundational nutrition drink, but these market-share/superlative claims need independent market verification. | partially verified low | SRC-002 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.