Business
ChromaDex Corporation Reports Fourth Quarter and Fiscal Year 2022 Results
Record revenue in Q4 2022 with $21.0 million in total net sales, up 18% from the prior year quarter, a net loss of $1.4 million and an Adjusted EBITDA profit
About this update from Niagen Bioscience, Inc.
[{"type":"text","content":"\nRecord revenue in Q4 2022 with $21.0 million in total net sales, up 18% from the prior year quarter, a net loss of $1.4 million and an Adjusted EBITDA profit of $0.4 million. Full year total net sales of $72.0 million with $60.1 million from Tru Niagen\n\n LOS ANGELES--(BUSINESS WIRE)--\nChromaDex Corp. (NASDAQ:CDXC) today announced fourth quarter and fiscal year 2022 financial results.\n\nFourth Quarter 2022 and Recent Highlights\n\n\nTotal net sales were $21.0 million, up 18% from $17.8 million for the prior year quarter.\n\n\nTru Niagen® net sales were $16.1 million, up 14% from $14.1 million for the prior year quarter.\n\n\nSelling and marketing expense as a percentage of net sales was 29.5% versus 48.7% in the prior year quarter, an improvement of 1,920 basis points.\n\n\nNet loss was $1.4 million or $0.02 loss per share, an improvement of $0.06 per share from the prior year quarter.\n\n\nAdjusted EBITDA, a non-GAAP measure, was a profit of $0.4 million, a $3.8 million improvement from the prior year quarter.\n\n\nSigned long-term supply agreement with Nestlé Health Science, extending non-exclusive rights to sell Niagen® in multi-ingredient dietary supplements.\n\n\nRaised $7.7 million, net of offering costs, with Nestlé Health Science and existing strategic investors in October 2022.\n\n\nGranted two new U.S. patents, including one on NRH, which preclinical research suggests may be among the most potent and efficient of the NAD+ precursors, and shows promise as a new therapeutic approach to ameliorating age-related NAD+ decline.\n\n\nAppointed Dr. Vilhelm Bohr, a leading aging and neurodegenerative disease researcher, to the Scientific Advisory Board.\n\n\nIn December 2022, a clinical study published in the peer-reviewed journal Aging Cell finds that NR oral supplementation significantly increased NAD+ levels in the brain and positively impacted neurodegenerative biomarkers.\n\n\nIn January 2023, a clinical study published in the peer-reviewed journal Science Advances finds that NR oral supplementation increased muscle mitochondrial biogenesis.\n\n\nFull Year 2022 Highlights\n\n\nDelivered on latest financial outlook to investors across all metrics, and exceeded G&A outlook.\n\n\nTotal net sales of $72.0 million, up 7% from $67.4 million year over year.\n\n\nTru Niagen® net sales of $60.1 million, up 6% from $56.7 millio...