the Joshua Schall Audio Experience

We chew through billions of sticks of gum annually. In fact, about half of the entire U.S. population chewed gum in the last year. And while many today envision it strictly as just another modern checkout aisle impulse purchasing decision…the history of chewing gum is a wild story of accidents, war rations, social distancing demand drops, and a bizarre resurgence in the era of Ozempic. Although understanding chewing gum's past makes its functional future seem even more inevitable. Consequently, every multibillion-dollar ingestible CPG category is in the early innings of a remarkable transformation, as consumers are moving closer everyday towards this four-way intersection of taste, convenience, nutrition, and functionality. Therefore, it shouldn’t surprise anyone to learn that even chewing gum brands have begun competing for consumer attention with wellness-focused marketing and functionality of ingredients. Don’t believe me? Well, look no further than strategic actions by the market leader. In early 2024, Mars Wrigley started repositioning a few of its key gum brands as an "instant stress reliever" to target Gen Z and Millennials who prioritize mental wellness. Also, largely due to the format popularity (and effectiveness) of nicotine-replacement therapy (specifically Nicorette) eventually becoming available over the counter in 1996…chewing gum started gaining traction as an innovative nutraceutical ingredient delivery system several years later when a federal grant enabled research into caffeinated gum for the U.S. military. Thus, it probably shouldn’t surprise anyone either that (in terms of functionality of ingredients), “energy & focus” is the most sizable segment within the rapidly growing functional gum category. In fact, based on the 52-week period ended January 25, 2026…dollar sales of caffeinated gum reached $340 million (increasing around 7% YoY). And while even Wrigley’s launched a (more defunct) caffeinated gum competitor more than a decade ago, the prominent brands currently in the “energy & focus” functional gum subcategory include NEURO and REV. Although “energy/focus” functional gum is emerging as a compelling alternative to the crowded RTD energy market…not only because it offers a more portable, lightweight alternative to energy drinks (or coffee), but it also takes effect faster. Nevertheless, the new age of gum is here…and it’s infused with functional benefits beyond the masticating joy that traditional chewing gum provided forever. So, for this next part of this content, I wanted to explore a few emerging opportunities within this bold new world of functional chewing gum. Also, I believe it’s important to take a step back and consider why functional gum…or more broadly, water-free direct-to-mouth delivery systems (like fast-melt powders, chewable fast-disintegrating tablets, and effervescent fizzing granules) are rising in popularity. Consumers are increasingly tired, inconsistent, and overwhelmed by traditional dietary supplement formats. And this “format fatigue,” along with consumers’ looking to eliminate friction from modern routines, is creating an opportunity for water-free, direct-to-mouth delivery systems that eliminate prep, improve convenience, enhance the sensory experience. Moreover, these benefits make direct-to-mouth formats not just consumer-friendly, but also strategically valuable for functional CPG brands looking to meaningfully differentiate and breakthrough crowded categories.

Kellogg Company divided itself into WK Kellogg and Kellanova. But then, less than two years later…each got absorbed by another Big CPG portfolio. Keurig Dr Pepper is going through a strategic separation process. Kraft Heinz announced it will split into two standalone businesses. PepsiCo is currently dealing with an activist investor urging portfolio simplification. And those are just the most buzzworthy “breakup and buyout” examples within the CPG industry! Though, many pundits seem to be misreading these “new configurations” as some type of signal that the “Big CPG” empire has collapsed. Yet, Big CPG is flushed with resources and full of strong (intelligent) human capital…that know the future will be shaped by those who disrupt themselves. In fact, a recent PwC report showed 49% of CPG executives believe their current business model won’t survive the next decade…a rate that is seven times higher than the average across other industries. So, what if the next big CPG disruptor isn’t a startup, but a legacy brand rebuilt from the inside out that’s better equipped to navigate changing consumer preferences, increasing competitive pressure, and heightened economic uncertainty?

Scaling a CPG brand is incredibly difficult. It’s a delicate balance of bold moves and precise execution. And I honestly think more CPG brands should transparently share the early difficulties and associated growing pains on their social media. Both Smackin' Seeds and NOCA Beverages are amazing examples to reference. But this openness helps build an authentic connection with today’s consumers who value honesty and relate to the "behind-the-scenes" journey of a smaller business trying to break into a highly competitive market.

I don't want to be one of those "unc status" Older Millennials but some of y’all younger folks need to learn that success doesn’t just drop into your lap. And while I rarely share how my brain processes the world, allowing me to deconstruct patterns and see around the corner...invariably leading to the compelling insights you expect (and love) within my regular content, I’m beginning to realize some of that stuff might be valuable to share occasionally. So, for my regular audience members...this one will probably be quite different than my typical content but stick around, as you’ll probably learn something new (and more personal) about me. Also, the reference clips you’ll see shared throughout this content piece were filmed inside of the Greater Columbus Convention Center during the 2023 Arnold Sports Festival weekend. And while the full hourlong podcast episode was uploaded to the Cory G Fitness app experience three years ago, I never redistributed any of this content on my own platform. But instead of just resharing my entire guest appearance from Cory Gregory’s roundtable podcast…this is a curated collection of what I believe were the most impactful moments. Moreover, by weaving together some additional gap-filling commentary…I’ll hopefully be able to provide you with a unique perspective on how I’ve earned my distinct level of success. And I know “talking about success” is a bit cringy, but I’m the furthest thing from those self-help personal development influencers…so this will be less self-righteous performative motivational and more humble authentic informative (based on my experience). But more importantly…I’m confident that these eight foundational mindset elements within my 15+ year journey from brash young professional to largely being considered the top strategic voice within the sizable global supplement industry could be highly relevant (and extremely helpful) to anyone on the other end of this content.

According to Live Nation Entertainment, 60 percent of attendees alternate between alcoholic and non-alcoholic drinks at live events. Additionally, with internal consumer research showing that 80 percent of attendees believe a “great beverage” enhances the experience, it probably shouldn’t surprise you to hear that Live Nation Entertainment has taken an increasingly active investment role within the beverage industry. And as the “mindful drinking” and “sober curious” movements spread…Live Nation Entertainment continues to bet big on better-for-you alcohol alternatives, believing heavily that the growth of zero-proof partying will make the beverage segment increasingly attractive within on-premise settings. So, in recent years, the world's leading live entertainment company has expanded how attendees can celebrate throughout a show…strategically investing in Athletic Brewing, Liquid Death, JOLENE Coffee, and most recently social tonic maker Hiyo.

After your favorite viral pasta sauce entered its “parenting era” by teaming up with Little Spoon on limited edition clean-label, ready-to-eat meals…it got thinking how SAUZ might’ve unlocked the ultimate growth strategy, which centers around modern parents wanting the CPG brands they already love to growth their families. Could it become a blueprint for the next generation of “cool kids' food"? Imagine a milder Fly By Jing szechuan-inspired flavor of Serenity Kids pouches. Or what about including a Graza “drizzle kit” within those Tiny Organics “finger food meals” to make them extra fun. So, which “adult” CPG brand do you want to see collab on a kids' version next?

Celsius Holdings has come a long way from a single energy drink product launched more than two decades ago to a scaled platform with multiple billion-dollar beverage brand powerhouses. Although why does it feel like there’s still so much more that needs done? Celsius Holdings (NASDAQ: CELH) had quarterly revenue of $721.6 million, which was up 117% YoY. Excluding the Alani Nu acquisition-related financial impact, CELSIUS brand revenue declined 8% YoY. Alani Nu had quarterly revenue of $370 million. Rockstar Energy had quarterly revenue of $45 million. According to recent 13-week retail sales data, CELSIUS increased by 13% YoY...remaining the third-largest energy drink brand in the category with a dollar share of 10.9%. Alani Nu increased retail sales 77% YoY and is now the dominant fourth brand in the U.S. energy drinks market with dollar share of 6.7%. And Rockstar Energy retail sales decreased 10% YoY and is the seventh-largest U.S. energy drink with dollar share of 2.4%. If we look at Celsius Holdings combined brand portfolio, it reached 20% of dollar share...ranking it third and trailing only Red Bull and the combined Monster Beverage portfolio. Additionally, if you were to consider the last 52-week period ending December 28, 2025…Celsius Holdings retail sales surpassed $5.2 billion. Things drastically shifted for CELSIUS because of the August 2022 distribution and investment deal with PepsiCo. Additionally, when Celsius Holdings took ownership of the Rockstar Energy brand last quarter, it designated them the PepsiCo strategic energy drink captain. Also, another major aspect of “Celsius Holdings and PepsiCo strengthening its long-term strategic partnership” was the transition of Alani Nu distribution into the PepsiCo DSD system starting December 2025. So then, in my latest first principles thinking content piece, I'll explore four key factors surrounding why the next 12-18 months will define the future of the Celsius Holdings brand portfolio.

If Glanbia wanted to further increase Optimum Nutrition and ISOPURE brand household penetration, should it focus more on brand marketing or production innovation? Glanbia Plc (LON:GLB) is a multibillion-dollar global nutrition company that's currently comprised of three divisions that span across the B2B supply chain (i.e. Health & Nutrition and Dairy Nutrition) and branded products (Performance Nutrition). “Health & Nutrition” is a leading global ingredients solutions business, providing value added ingredient and flavor solutions to a range of attractive, high-growth end markets. In 2025, revenue was $629 million, which increased by 11.5% YoY. “Dairy Nutrition” is the number one producer of whey protein isolate…and provides a wide range of dairy and functional protein solutions. In 2025, revenue was $1.52 billion, which increased by 2.8%. The brands in the Glanbia Performance Nutrition portfolio include; Optimum Nutrition, BSN, think!, ISOPURE, and Amazing Grass. In 2025, Glanbia Performance Nutrition revenue was $1.8 billion, which decreased 0.9% YoY. Additionally, I'll dive deeper into Glanbia Performance Nutrition geographical, sales channel, product format, and categorial performance. As part of the branded products portfolio part of the group-wide transformation program announced last November, Glanbia completed the sale of SlimFast and Body & Fit. Optimum Nutrition, which was the initial M&A transaction in 2008 that created the GPN division, now represents 75% of the total revenue. In 2025, Optimum Nutrition generated revenue of approximately $1.35 billion. The other largest GPN brand is ISOPURE, which is a premium high-protein, low-carb brand grounded in purity. And I’ve loudly proclaimed for several years that “ISOPURE had arguably the largest untapped upside of the entire GPN portfolio.” In fact, I’ve said it had billion-dollar global brand potential. But with the two largest brands within GPN growing in 2025, what must be solved for Optimum Nutrition and ISOPURE to reach their greatest ambition level. Therefore, our examination will focus on household penetration, as it’s often used as a key performance indicator that helps quantify brand health and growth opportunities for CPG brands. Essentially, higher household penetration proves velocity, making retailers more likely to stock a brand, thus increasing all commodity volume, while selling more items to these new households increases total distribution points. Moreover, product innovation and brand marketing act as the "fuel" to this “primary growth engine," accelerating the relationship between household penetration, ACV, and TDPs.

Can BUM Energy successfully make the move from “supplement store” niche product to the energy drink market’s next breakout superstar? Admittedly, while dubbing BUM Energy a “supplement store niche product” is probably unfair…it speaks to how the energy drink was launched as a collaboration between six-time Mr. Olympia Chris Bumstead (CBUM) and his fellow co-owners in the sports nutrition brand RAW Nutrition. And few supplement brands (especially in the last handful of years) have captured the zeitgeist of the fitness and lifestyle community quite like RAW Nutrition (and BUM Energy). Moreover, everyone has likely heard this “broken record” (by now), which expresses my long-held belief (proven correct) that the best and brightest sports nutrition brands could compete against any large CPG incumbent when it comes to functional food and beverage. So, if anything…I’d consider it a somewhat “badge of honor” earned within this journey navigating the rapidly evolving beverage landscape. But then, it’s important to establish my definition of a “breakout star” within the approximately $27 billion U.S. energy drinks market…which is currently growing somewhere between the low- to mid-teens percentage YoY range. But when referring to a “breakout star,” I’m talking about (1) being among the “top 15” energy drink brands based on last 52-week retail sales data, (2) growing at least five times the categorical average, and (lastly) not being partially/wholly owned by one of the Big 3 nonalcoholic beverage giants. But in my latest first principles thinking content piece, I'll explore various strategic reasons why I believe BUM Energy is currently positioning itself as one of the most credible challenger energy drink brands. Likewise, why this upcoming “Year 3” will be its most important…especially if BUM Energy wants to become the energy drink market’s next breakout superstar.

Is it just me or have you also noticed a growing amount of energy being placed on the creation of "lower caffeine, higher electrolyte" beverages? Are we experiencing an accelerated convergence of the energy and sports drink categories? Driven by consumer demand for beverages that offer both functional hydration benefits and an energy boost, the blurring lines are set to drive further market growth and innovative product iterations. But in hopes of bringing more attention to the optionality within this beverage trend, here are three unique examples for consideration. Firstly, Cadence RACE Energy Hydration Drink includes the brand’s core electrolyte blend, but also an evidence-based 1:2 ratio of caffeine & l-theanine to sharpen focus (and fight fatigue). Next, podcaster Alex Cooper packed Unwell Hydration with 700mg of electrolytes, along with a gentle dose of 75mg of natural caffeine. Finally, Huxley puts an all-natural spin on the blurring beverage category…including 90mg of plant-based caffeine from upcycled Cascara Superfruit.

Innovation doesn’t need to (and usually shouldn’t) be complicated. In fact, look at the recent Wonderbelly acquisition. It reimagined OTC medicine by moving beyond sterile branding, offering effective products with clean ingredients and enjoyable flavors…targeting health-conscious Millennials (and Gen Z) looking to make digestive relief a more positive experience. So, if you really want to create something that has lasting impact, it needs to be a combo of “new” yet “familiar.” And many of today’s most successful CPG brands resulted from identifying that doing something too closely related to market leadership won’t get noticed…but doing something too novel and it will create confusion.

For the last 15+ years, I’ve heard this “running joke” inside the supplement industry that sports nutrition brands should never shame “pizza eaters,” as elevated cheese consumption is extremely important for strong whey protein production. But as refreshing clear whey protein (like protein soda) grows in popularity, it might be time for an updated inside joke pertaining to a once “sad staple of 1970s diet culture.” So, how is the cottage cheese renaissance reshaping whey protein production? For decades, cottage cheese was a lumpy, uninspired side dish (usually served on a lettuce leaf). However, in the 2020s, a perfect storm of viral social media trends, a global obsession with protein, and advancements in food technology have transformed this humble dairy product into a powerhouse of the "high protein era." Additionally, as GLP-1 medications become mainstream, millions of users are seeking high-protein, low-volume foods to maintain muscle mass while their appetite is suppressed…with cottage cheese emerging as an ideal solution. As a result, U.S. retail sales of cottage cheese have surged annually between the high-teens and low-20s percent in each of the last few years. But maybe more importantly for the bulk of my audience, growth in cottage cheese consumption is doing more than just clearing grocery store shelves…it’s fundamentally altering the economics of whey protein production. And that's because it typically takes roughly 3 to 4 pounds of milk to produce just 1 pound of cottage cheese. So, this essentially means for every tub of cottage cheese sold, a massive volume of liquid whey is generated. And if you’re slightly familiar with whey protein supply and demand dynamics currently, all that extra liquid whey byproduct sounds great. But what dairy companies call "acid whey" is produced during cottage cheese manufacturing, which has historically been a liability…as “acid whey” is harder to process and was often sold as cheap animal feed or spread on fields as fertilizer. In the past, the high acidity of cottage cheese whey made it difficult to dry into the powders used in protein shakes. However, modern processing now allows companies to neutralize and "upcycle" this acid whey. Moreover, by using the natural acidity of the whey…this byproduct is now being turned into refreshing fruit-like flavored “clear whey” protein isolate powders and protein-fortified waters (and soda), both of which have become increasingly popular in the last several years. Consequently, in some cases, the whey byproduct is becoming more valuable than the cheese itself. But here’s maybe the best news…I don’t believe this cottage cheese trend is just a passing social media fad. And as long as the global appetite for protein remains high, cottage cheese will remain a cornerstone of the dairy industry…not just for what is in the tub, but for the "white gold" liquid that used to be thrown away. Accordingly, by driving up the demand for curds, consumers will continue inadvertently funding the infrastructure needed to perfect the extraction of acid whey, which hopefully could help whey protein commodity pricing that has basically tripled in recent years.

Is nothing sacred? Did you hear the MAHA movement is coming for “Pizza Day,” which we all know is the crown jewel of the grade school cafeteria. Banning Red Dye No. 40? Easy win. Prohibiting the only meal that stops hundreds of middle schoolers from rioting? Good luck, RFK Jr. Trying to swap a square of pepperoni pizza for one of those sweet potato and black bean bowls could prove to be the political equivalent of walking into a hornet’s nest with a stick. So, which side are you on: Team "Real Food Only" or Team "Don't Touch My Pizza"?

They say, “there’s levels to this game,” but this episode’s guest seemingly built a brand around that philosophy. Blake Niemann, the founder (and CEO) of LEVELS, didn't just launch a protein powder…he engineered a manual for anyone looking to build a CPG brand that lasts. So, what does it actually take to build a category-defining brand with zero outside capital? In this conversation, we examine the different “levels” of his business journey…from the scrappy early days of establishing its “us vs. them” brand identity on Amazon to solving the unsexy puzzle of finance and operations that wins in an omnichannel retail world, and the high-level strategic vision of turning a supplement brand into a true “dairy protein” platform. Also, we’re talking through why the next decade of whey protein will be defined by cultural shifts like GLP-1, MAHA, and the necessity of market-wide affordability. Whether you’re an operator scaling through trade marketing or a visionary looking to future-proof your business, this is the blueprint for anyone trying to level up.

Can the produce aisle reinvent itself, enhance its appeal, and broaden its consumer reach? If you haven’t noticed yet, the dairy and egg merchandising sets have already started extending a product’s basic utility to its story, its presentation, and its ability to resonate on a personal level…and it appears the produce set could be next. As an example, after hedge fund manager Ray Dalio’s personal venture arm got involved with the berry brand Agrovision…it changed the name to Fruitist, started focusing more on jumbo blueberries, and invested heavily in the infrastructure needed to eliminate “berry roulette.” Additionally, the 120+ year-old berry brand Driscoll’s just hired its first Global Chief Marketing Officer to close the gap between market share dominance and low brand awareness. With many of the health properties found in berries aligned with some of the trendiest wellness focuses, it appears produce brands are more motivated than ever to create an elevated unique experience that forms a deeper, more personal connection with consumers.

I noticed a growing number of internet people (mostly without any industry knowledge) trashing the beverage brand PRIME. And I get it…people love to kick someone (or something) when they’re down, especially if it’s a highly visible (maybe even a bit controversial) consumer brand partly owned by polarizing internet celebrities. Although if you stumbled into this expecting it would be just another copy/paste overly dramatic “rise and fall of PRIME” content piece…I’m sorry to disappoint you! But if you’re into first principles thinking that produces fresh perspectives then hopefully, you’ll stick around…mostly because when these internet people simultaneously proclaimed, “PRIME serves as a modern Case Study in the volatility of hype-first business models,” they collectively forgot to mention their whole thesis was foundationally established by whichever AI model prompts scraped my old strategic commentary within my content years earlier. Nevertheless, before getting started…while I’m not going to retrace the meteoric rise of PRIME, I have the utmost respect for what it achieved in those initial two years…and no one can ever take away that PRIME not only generated over a billion dollars in annual retail sales globally faster than any CPG brand in history but impacted (influenced) the overall industry in ways that will be felt for a very long time. However, over the last two years, PRIME has faced a classic “identity trap.” While PRIME obviously achieved viral success with Gen Z and Gen Alpha, essentially becoming a status symbol…older consumers (whether parents or not) often viewed the brand as a neon-colored faddish drink made for children. Attempting to fix this (and increase buy rates among Millennials and Gen X), PRIME shifted its strategy from "hype marketing” to functional legitimacy. Though, apart from throwing the "Gatorade Blueprint" sports marketing proverbial Hail Mary, what could PRIME really have done after retail sales momentum slowed…and aggressive over-expansion left inventory bloat? When the viral novelty faded…and once-scarce bottles were found everywhere (on-promotion), it signaled to younger consumers that the brand was no longer "exclusive.” Moreover, older consumers remained critical (warranted or not) that PRIME lacked the sodium and electrolytes necessary for true rehydration purposes. So, faced with two very different challenges impacting demand…PRIME decided to tackle “product” concerns over attempting to reignite cultural virality (which is extremely complex). Last month, PRIME officially entered the RTD protein category by launching a line of ultra-filtered protein milkshakes. PRIME Protein represents maybe the last remaining product strategy impactful enough to transition the beverage brand from a youth-centric "hype" product into a legitimate player within the functional beverages category. Lastly, and this cannot be overlooked when explaining why the “doom and gloom” scenario likely never came (or didn’t come as severely) for PRIME yet. If you weren’t aware, the more hidden owners of PRIME also co-founded Alani Nu. Obviously, everyone knows by now, Celsius Holdings acquired Alani Nu for $1.8 billion last April. But while that liquidity event maybe helps assess future risk/reward considerations, it’s recognizing the culmination of that intertwined business activity that’s most helpful because when a CPG brand rockets from zero to over $1 billion in two years…then falls to around $250 million two years later, it would normally result in chapter 11 bankruptcy.

Y’all know I love creative intersections between the CPG industry and Hip-Hop culture. And this newest Bobbie marketing campaign with Cardi B is slick. Playing off the famous Lil’ Wayne “Weezy F baby and the F is for…” lines, I guess the “B” in Cardi B is for Bobbie. Though, the marketing campaign goes deeper than that. After expressing her frustrations (and struggles) around breastfeeding during a livestream, the purpose-driven organic infant feeding company, Bobbie, hopes Cardi B can bring her signature unfiltered confidence to a generation of parents navigating feeding choices amid a worsening maternal health crisis.

Rich People Live Longer. This year’s Hims & Hers Super Bowl ad is certainly provocative…but as a strategist with deep domain expertise, I know exactly what it meant! Because even if almost everyone accepts that “Father Time” will remain undefeated, the upper portion of the “K-Shaped” U.S. economy realized that they didn’t need to solely default into being patients within the healthcare market, as viewing themselves as consumers allowed for more control over the pace and trajectory of functional decline. Therefore, Hims & Hers is leveraging this massive advertising moment to not just promote products but elevate brand awareness that its leading health and wellness platform can be a powerful catalyst for change…democratizing access to the kind of distinctively proactive, personalized, and integrative care that “elites” have largely gatekept over the last decade.

Celebrities are everyday people just like us and should never be placed on a pedestal. Well, unless their oftentimes mysterious financial involvement within the dietary supplement industry is being investigated. Welcome back to Part 3! And I bet even my most avid audience members are scratching their heads (in confusion), as it’s been what feels like a lifetime since my last update in 2021. But I get it…in that timeframe, the celebrity brand playbook has been completely rewritten. We aren’t just looking at celebrities as being "faces" of a product anymore…we’ve seen a massive shift toward talent-led brands where celebrities are literally taking a seat in the boardroom. Today, three-quarters of Americans take dietary supplements…but the trend has moved beyond basic vitamins and into functional foods, functional beverages, and bidirectional beauty products. Also, success is now driven by digital platforms and community connection rather than traditional ads…as it’s no longer just about looking like your favorite celebrity; it’s about living like them. And over the last five years, talent-led CPG brands positioned across the categorical intersections of functional foods, functional beverages, bidirectional beauty, and dietary supplements…have surpassed several billion dollars in annual retail sales. Likewise, celebrities have continued to pour billions into these supplement industry offshoots…arguably cementing it as the official net worth growth frontier for the A-list. But for this third installment…I’ve uncovered a dozen more celebrities who have quietly built (or invested into) the massive supplement empires you know (and love), including Kourtney Kardashian, Cristiano Ronaldo, David Beckham, Travis Kelce, Jennifer Lopez, Steve Aoki, Zac Efron, Cameron Diaz, Halle Berry, Marisa Tomei, Joe Rogan, and Bella Hadid.

Dear BellRing Brands board of directors…please consider this my formal submission for your open CEO position! BellRing Brands (NYSE: BRBR) is a portfolio that owns a collection of convenient nutrition brands like Premier Protein and Dymatize Nutrition, which was previously wholly-owned by Post Holdings. A fast-paced and busy lifestyle is pushing consumers to switch to quick and healthy meal options. This has resulted in above average categorical growth rates and increased household penetration of RTD protein shakes that promote active lifestyles. Additionally, powders are becoming more mainstream, and category proliferation has created an environment where more consumers are purchasing both every day and performance nutrition positioned protein products at grocery stores and mass retailers. Bellring Brands reported 2026 Q1 net sales of $537.3 million, which was up 0.8% YoY. Premier Protein (~85% of BellRing Brands total revenue) declined 1.2% YoY, resulting from mostly incremental promotions lowering net pricing. Dymatize Nutrition was up 15.8% YoY, stemming from strong volume growth (particularly across international markets). Moreover, I provide deep dives into Premier Protein RTD protein shakes business activity, along with examining similar metrics surrounding the protein powders from Premier Protein and Dymatize Nutrition. But my latest first principles content piece will end with a "formal" submission for the upcoming open CEO position, as Darcy Davenport has decided to retire, effective upon whichever is earlier…the appointment of a new CEO or the end its fiscal year 2026. And most will scoff at my boldness thinking I can run a multibillion-dollar public company…but double-check those receipts because I’d put my very public “visionary field notes” up against anyone regarding BellRing Brands and the larger “wellness CPG” market dynamics. Although more so than anything…I recognized early that what got Premier Protein here, won’t get it there (with “there” being an independent public company with $4 billion in net sales heading into fiscal year 2030). So, I’ll provide future-proofing details on what would arguably be my three most-critical forward-looking strategic initiatives as the new CEO of BellRing Brands. Firstly, as the popularity of protein pushes the macronutrient into top-of-mind status (arguably creating more purchasing impulsivity), I must re-position Premier Protein for this marketplace shift. Secondly, Premier Protein cannot (and should not) become an “everything to everyone” brand. Thirdly, I must hedge against the reality that our protein powder emulsion beverages, which are essentially my entire business, might not be the market’s most desirable consumption experience going forward (and will be foundationally replaced by ultra-filtered milk).