Niagen Bioscience, Inc. · NASDAQ:NAGE
Niagen Bioscience — ChromaDex — Q4 2023 Earnings Presentation
23 slides from Niagen Bioscience's earnings presentation, Mar 6, 2024
Slide 1: ChromaDex Earnings Conference Call Fourth Quarter 2023
ChromaDex Earnings Conference Call Fourth Quarter 2023 Rob Fried Chief Executive Officer Brianna Gerber Chief Financial Officer Andrew Shao SVP Scientific & Regulatory Affairs Nasdaq: CDXC | March 6, 2024
Slide 2: Safe Harbor Statement
2 SAFE HARBOR STATEMENT This presentation and other written or oral statements made from time to time by representatives of ChromaDex contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 19
Slide 3: Q4 2023 & Recent Highlights
3 Q4 2023 & Recent Highlights (1) See slide 11 for the non-GAAP reconciliation In 2023, delivered on business and financial objectives, with solid top-line growth and strong bottom-line results. For 2024, we will build on our momentum with investments in marketing and R&D to support growth and strat
Slide 4: Management Team
4 Management Team Rob Fried Chief Executive Officer E-commerce & entertainment industry executive Savoy Pictures, Columbia Pictures, Fried Films, FeeIn, WHN, Healthspan Research Brianna Gerber Chief Financial Officer Over 20 years of diverse experience in investment management and finance at the Cap
Slide 5: Financial Highlights
5 Financial Highlights
Slide 6: Q4 2023 Net Sales Mix
6 Q4 2023 Net Sales Mix Q4 2022Q4 2023 • Tru Niagen® net sales increased to 83% of net sales in Q4 2023 compared to 77% in Q4 2022(1) • Niagen®-related net sales remained steady at 96% of net sales for Q4 2023 and Q4 2022(2) $ 21.2 MM Higher mix of Tru Niagen® related sales in Q4 2023 compared to th
Slide 7: Q4 2023 Net Sales
7 Q4 2023 Net Sales Q4 2023 Net Sales ($ in millions) $17.6 Q4 2023 total net sales up 1% year-over-year driven by growth in E-commerce business, offset by lower B2B and Niagen® Ingredient sales, with the later due to Nestlé's upfront minimum purchase in Q4 2022. YoY % (vs Q4 2022) +20% (14)% (30)%
Slide 8: Full Year 2023 Net Sales
8 Full Year 2023 Net Sales FY 2023 Net Sales ($ in millions) Total +16% +13% +23% +27% (9)% +29% YoY % (vs FY 2022) $69.5 2023 total net sales increased 16% year-over-year primarily driven by growth in E-commerce business, higher Watson's & Other B2B sales, and strong Niagen® Ingredient sales from n
Slide 9: 2021 – 2023 Net Sales Summary
9 2021 – 2023 Net Sales Summary (in millions) 2021 2022 2023 Description Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY E-commerce 9.6 10.6 10.5 11.1 41.8 10.9 12.0 11.3 11.1 45.3 12.2 13.0 12.7 13.3 51.2 Watson's 1.6 2.9 2.6 2.2 9.3 2.6 1.5 2.6 3.3 10.0 3.7 3.0 3.1 3.0 12.8 Other B2B 1.3 1.8 1.6 0.8
Slide 10: Q4 2023 vs Q4 2022 Key P&L Metrics
10 Q4 2023 vs Q4 2022 Key P&L Metrics (in thousands) Q4 2023 Q4 2022 Notes Net Sales $21,196 $20,996 Tru Niagen® business up 9% driven by Ecommerce business, partially offset by lower Watson's and B2B sales. Lower Niagen® ingredient sales primarily attributable to the absence of the upfront Nestlé p
Slide 11: Adjusted EBITDA Summary
11 Adjusted EBITDA Summary ChromaDex Corporation and Subsidiaries Reconciliation of Non-GAAP Finanical Measures (In thousands) Three months ended Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Net income (loss), as reported $ (7,381) $ (5,566) $ (8,85
Slide 12: Adjusted EBITDA 2023 vs 2022
12 Adjusted EBITDA 2023 vs 2022 ChromaDex Corporation and Subsidiaries Reconciliation of Non-GAAP Finanical Measures (In thousands) Year Ended December 31, Change2022 2023 Net loss, as reported $ (16,540) $ (4,938) $ 11,602 Adjustments Interest (income) expense (3) (661) (658) Depreciation 869 870 1
Slide 13: Q4 2023 Operating Loss vs Q4 2022
13 Q4 2023 Operating Loss vs Q4 2022 (in millions) +$1.5MM$(0.3)MM
Slide 14: Quarterly Balance Sheet Highlights
14 Quarterly Balance Sheet Highlights Reflects disciplined cash management and optimization measures throughout 2023, while continuing to invest in key areas to support both immediate and long term growth objectives. (in thousands) 12/31/21 3/31/22 6/30/22 9/30/22 12/31/22 3/31/23 6/30/23 9/30/23 12
Slide 15: Quarterly Cash Flow Highlights
15 Quarterly Cash Flow Highlights (in thousands) FY 2021 3/31/22 6/30/22 9/30/22 12/31/2022 FY 2022 3/31/23 6/30/23 9/30/23 12/31/2023 FY 2023 Net Income (Loss) $(27,128) $(7,740) $(6,397) $(985) (2) $(1,418) $(16,540) (2) $(1,902) $(2,191) $(959) $114 $(4,938) Working Capital (4,915) (1,923) 923 (4
Slide 16: 2023 Full Year Outlook Recap
16 2023 Full Year Outlook Recap (in thousands) 2022 Actual 2023 Outlook (1) 2023 Actual Comments Achieved?(2) Net Sales $72,050 Between 14% - 16% growth $83,570 Total net sales grew by +16% ✓ Gross Margin % (as a % of net sales) 59.4% Stable YoY 60.8% Improved 140 bps ✓ Selling, Marketing & Advertis
Slide 17: 2024 Financial Outlook
17 2024 Financial Outlook (in thousands) 2022 Actual 2023 Actual 2024 Full Year Outlook Key Drivers Net Sales $72,050 $83,570 Higher YoY growth compared to FY 2023 growth of +16% • Includes growth from e-commerce business, recurring revenues from established partnerships • Includes revenues from new
Slide 18: The Science
The information contained in this documents is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed without the prior written consent (2019) The Science 18
Slide 19: New human trials on nicotinamide riboside registered
19 • Three new human trials on nicotinamide riboside registered since prior update:¹ ▪ Haukeland University Hospital (December 2023) • The objective is to test whether NR is a neuroprotective therapy for atypical parkinsonism (APS). • This trial builds on the promising outcomes of previous NAD-reple
Slide 20: Recent published studies on nicotinamide riboside
20 • GeroScience – Orr et al., 2023 – “A Randomized Placebo-Controlled Trial of Nicotinamide Riboside in Older Adults with Mild Cognitive Impairment” – October 2023 • The study assessed the safety and efficacy of NR supplementation on cognition, brain volume and functioning, and physical function in
Slide 21: Scientific Advisory Board
21 Scientific Advisory Board Charles Brenner, Ph.D. Alfred E Mann Family Foundation Chair, Department of Diabetes & Cancer Metabolism City of Hope World's Foremost Authority on NAD Metabolism Roger Kornberg, Ph.D. Chairman Professor of Structural Biology Stanford University Nobel Prize Winner, Chemi
Slide 22: Clinical Studies on Niagen in Multiple Health Areas
22 Clinical Studies on Niagen® in Multiple Health Areas Note: highlighted achievements in duration, participation and dosage only consider completed studies.
Slide 23: Contact Info
23 Contact Info: T: +1(949) 356-1620 InvestorRelations@ChromaDex.com www.chromadex.com Where to buy TRU NIAGEN® TruNiagen.com Amazon.com