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Niagen Bioscience, Inc.
NAGECIK 0001386570NasdaqLarge AcceleratedMedicinal Chemicals & Botanical ProductsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$129.42M
Net Income
$17.38M
Total Assets
$106.41M
Equity
$76.53M
Shares Out
80.08M
Op. Cash Flow
$13.50M
Business
Niagen Bioscience, Inc. is a global bioscience company focused on healthy aging through research and commercialization of NAD+ precursors. It offers proprietary nicotinamide riboside products including food-grade Niagen® (Tru Niagen® consumer supplements), pharmaceutical‑grade Niagen® for compounding, and NAD+ test kits, alongside analytical reference standards and research services. The company operates three primary segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services. It distributes direct-to-consumer via e-commerce and marketplaces, through specialty retailers and healthcare practitioners, and internationally via regional strategic partners and manufacturers/503B outsourcing facilities.
Summary from filing dated 2025-03-04
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Sales, net | 129 | 100 | 84 | 72 | 67 | |
| Cost of sales | 46 | 38 | 33 | 29 | 26 | |
| Gross profit | 83 | 62 | 51 | 43 | 41 | |
| Sales and marketing | 36 | 29 | 26 | 28 | 28 | |
| Research and development | 6 | 6 | 5 | 5 | 4 | |
| General and administrative | 27 | 18 | 25 | 28 | 36 | |
| Gain on settlement of royalty obligation | −2 | 0 | — | — | — | |
| Total operating expenses, net | 67 | 54 | 56 | 61 | 69 | |
| Operating income | 16 | 8 | −6 | −19 | −27 | |
| Investment Income, Interest | 2 | 1 | — | — | — | |
| IRS ERTC disallowance | −214,000 | 0 | — | — | — | |
| Total nonoperating income, net | 2 | 1 | 661,000 | — | — | |
| Income before provision for income taxes | 18 | 9 | −5 | — | — | |
| Provision for income taxes | 810,000 | 305,000 | 0 | — | — | |
| Net income | 17 | 9 | −5 | −17 | −27 | |
| Basic (in dollars per share) | 0.22 | 0.11 | −0.07 | −0.24 | −0.4 | |
| Diluted (in dollars per share) | 0.2 | 0.11 | −0.07 | −0.24 | −0.4 | |
| Basic (in shares) | 79 | 76 | 75 | 70 | 67 | |
| Diluted (in shares) | 85 | 78 | 75 | 70 | 67 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents, including restricted cash of $152 for both periods presented | 65 | 45 | 27 | — | 20 | |
| Trade receivables, net of allowances of $147 and $95, respectively | 10 | 8 | — | — | 8 | |
| Inventories | 20 | 9 | — | — | — | |
| Assets held for sale | 541,000 | 0 | — | — | — | |
| Prepaid expenses and other assets | 1 | 2 | 2 | — | 3 | |
| Total current assets | 97 | 64 | 50 | — | 47 | |
| Leasehold improvements and equipment, net | 1 | 2 | 2 | — | 3 | |
| Intangible assets, net | 6 | 359,000 | 510,000 | — | 671,000 | |
| Right-of-use assets | 2 | 2 | 2 | 1 | 4 | |
| Other long-term assets | 425,000 | 368,000 | 383,000 | — | 497,000 | |
| Total assets | 106 | 68 | 55 | — | 54 | |
| Accounts payable | 11 | 9 | 10 | — | 10 | |
| Accrued expenses | 8 | 8 | 9 | — | 7 | |
| Current maturities of operating lease obligations | 1 | 982,000 | 691,000 | — | 680,000 | |
| Current maturities of finance lease obligations | 0 | 12,000 | 11,000 | — | 16,000 | |
| Customer deposits | 399,000 | 611,000 | 195,000 | — | 157,000 | |
| Total current liabilities | 20 | 18 | 21 | — | 18 | |
| Deferred revenue | 3 | 3 | 3 | — | 4 | |
| Operating lease obligations, less current maturities | 2 | 2 | 3 | — | 4 | |
| Deferred consideration liability | 5 | 0 | — | — | — | |
| Total liabilities | 30 | 22 | 27 | — | 25 | |
| Commitments and Contingencies (Notes 9 and 15) | — | — | — | — | — | |
| Common stock, $0.001 par value; authorized 150,000 shares; 79,714 shares and 77,330 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively. | 79,000 | 77,000 | 75,000 | — | 74,000 | |
| Additional paid-in capital | 241 | 228 | 219 | — | 214 | |
| Accumulated deficit | −165 | −182 | −190 | — | −185 | |
| Cumulative translation adjustments | −9,000 | −4,000 | −4,000 | — | −3,000 | |
| Total stockholders' equity | 77 | 46 | 28 | — | 29 | |
| Total liabilities and stockholders' equity | 106 | 68 | 55 | — | 54 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation of leasehold improvements and equipment | 612,000 | 663,000 | 870,000 | 869,000 | 890,000 | |
| Amortization of intangibles | 173,000 | 151,000 | 158,000 | 186,000 | 225,000 | |
| Noncash lease expense | 665,000 | 670,000 | 677,000 | — | — | |
| Share-based compensation expense | 6 | 4 | 5 | 6 | 6 | |
| Loss (gain) on sale or disposal of leasehold improvements and equipment | 4,000 | −19,000 | −5,000 | 7,000 | 0 | |
| Allowance for (Recovery of) credit losses | −1 | −1 | 964,000 | 63,000 | 46,000 | |
| Reversal of previously accrued royalties and license maintenance fees | 0 | −4 | 0 | — | — | |
| Interest accretion on deferred consideration | 38,000 | 0 | — | — | — | |
| Non-cash financing costs | 59,000 | 80,000 | 75,000 | 67,000 | 108,000 | |
| Trade receivables | −756,000 | −1 | 2 | −3 | −3 | |
| Inventories | −12 | 5 | 152,000 | −1 | −2 | |
| Implementation costs for cloud computing arrangement | −66,000 | −83,000 | −60,000 | −304,000 | −278,000 | |
| Prepaid expenses and other assets | 1 | −45,000 | 631,000 | −872,000 | −810,000 | |
| Accounts payable | 2 | −1 | 553,000 | −744,000 | 978,000 | |
| Accrued expenses | 2 | 1 | 2 | 856,000 | 348,000 | |
| Deferred revenue | 95,000 | −732,000 | −644,000 | −391,000 | −95,000 | |
| Customer deposits and other | −217,000 | 416,000 | 38,000 | −5,000 | −116,000 | |
| Operating lease liabilities | −949,000 | −615,000 | −519,000 | −463,000 | −541,000 | |
| Net cash provided by operating activities | 14 | 12 | 7 | −15 | −24 | |
| Purchases of leasehold improvements and equipment | −292,000 | −163,000 | −148,000 | −334,000 | −409,000 | |
| Proceeds from the sale of leasehold improvements and equipment, net | 0 | 20,000 | 5,000 | 0 | — | |
| Net cash used in investing activities | −292,000 | −143,000 | −143,000 | −334,000 | −409,000 | |
| Proceeds from exercise of stock options | 7 | 5 | 0 | 0 | 9 | |
| Repurchase of common stock | −251,000 | 0 | — | — | — | |
| Payment of debt issuance costs | −67,000 | −52,000 | −75,000 | −77,000 | −110,000 | |
| Principal payments on finance leases | −12,000 | −11,000 | −15,000 | −16,000 | −31,000 | |
| Net cash provided by financing activities | 7 | 5 | −90,000 | 8 | 36 | |
| Net increase in cash and cash equivalents | 20 | 17 | 7 | −8 | 12 | |
| Cash payments for interest on finance leases | 1,000 | 1,000 | 2,000 | 1,000 | 1,000 | |
| Cash payments for principal on operating lease liabilities | 873,000 | 600,000 | 610,000 | 507,000 | 541,000 | |
| Right-of-use assets and operating lease obligations incurred for entering into lease amendment | 1 | 0 | 446,000 | 0 | — | |
| Acquisition of patent intangible asset and deferred consideration liability | 5 | 0 | — | — | — |
Filings
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