Business
CHROMADEX CORPORATION REPORTS 2019 FINANCIAL RESULTS
Fourth Quarter 2019 Highlights vs. Fourth Quarter 2018 Strong growth in net sales to $13.1 million, higher gross margins, and significantly improved marketing
About this update from Niagen Bioscience, Inc.
[{"type":"text","content":"Fourth Quarter 2019 Highlights vs. Fourth Quarter 2018\n Strong growth in net sales to $13.1 million, higher gross margins, and significantly improved marketing efficiency year-over-year.Tru Niagen® net sales of $10.2 million, a 57% increase year-over-year.Net loss per share of ($0.15) as reported, or non-GAAP net loss per share of ($0.11) excluding a $0.04 per share charge related to the non-cash write-off of Elysium receivable as bad debt expense.Expanded distribution rights with Matakana in Australia and secured partnership with a leading health and beauty retailer to launch in over 200 U.K. stores in 2020. Full Year 2019 Highlights vs. Full Year 2018 Net sales of $46.3 million, a 47% increase year-over-year, with Tru Niagen sales of $31.6 million.Gross margins of 55.7%, a 480 basis point increase year-over-year.Lower selling and marketing expense as a percentage of net sales (39.4% in 2019 versus 52.4% in 2018).Expanded Tru Niagen business globally with retail and e-commerce launches in Canada, and cross border launches on TMall in China and Amazon in Japan.Achieved regulatory milestones with approvals in Europe and Australia.Built upon strong foundation of science with 15 new research collaborations and the addition of Dr. Brunie Felding to the ChromaDex Scientific Advisory Board. Chief Scientific Advisor, Dr. Charles Brenner received a research grant from the Bill & Melinda Gates Foundation.Tru Niagen awarded ‘Ingredient of the Year: Healthy Aging’ by NutraIngredients-USA and ‘Most Favourite Brand’ among Watsons Hong Kong Loyalty Members. ChromaDex awarded Nutritional Outlook’s 2019 “Best of Industry” Ingredient Supplier Award for Niagen®. LOS ANGELES, March 10, 2020 (GLOBE NEWSWIRE) -- ChromaDex Corp. (NASDAQ:CDXC) today reported fourth quarter 2019 financial results. “We delivered strong performance across key metrics in 2019, secured regulatory approval in the EU and Australia, and published the sixth human clinical study demonstrating the safety and efficacy of Niagen,” said ChromaDex CEO Rob Fried. “By achieving these commercial, regulatory, and scientific milestones, we continue to make great progress against our financial and strategic goals.” Results of operations for the three months ended December 31, 2019 For the three months ended December 31, 2019 (“Q4 2019”), ChromaDex reported net sales of $13.1 million, up ...