Niagen Bioscience, Inc. · NASDAQ:NAGE
Niagen Bioscience — Q4 2023 Earnings Presentation
23 slides from Niagen Bioscience's earnings presentation, Nov 8, 2023
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
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 1934, as amended. Forward-
Slide 3: Q4 2023 & Recent Highlights
Q4 2023 & Recent Highlights • Total company and Tru Niagen® net sales were up 1% and 9% YoY, respectively. • Delivered strong gross margins of 61.0%, a 380 basis point improvement compared to 57.2% in Q4 2022 driven by business and customer mix, as well as benefits from economies of scale. • Achieve
Slide 4: Management Team
Management Team Rob Fried Brianna Gerber Heather Van Blarcom Chief Executive Officer Chief Financial Officer SVP, Legal & Corporate Secretary E-commerce & Over 20 years of diverse entertainment industry experience in investment Over two decades of executive management and finance industry experience
Slide 5: Financial Highlights
Financial Highlights 5
Slide 6: Q4 2023 Net Sales Mix
Q4 2023 Net Sales Mix Q4 2023 Q4 2022 $ 21.2 MM $ 21.0 MM • 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) Higher mix of Tru Niagen® related sales in Q4 2023 compa
Slide 7: Q4 2023 Net Sales
Q4 2023 Net Sales Q4 2023 Net Sales ($ in millions) YoY % (vs Q4 2022) +20% $17.6 (14)% (30)% (19)% +16% Total +1% Q4 2023 total net sales up 1% year-over-year driven by growth in E-commerce business, offset by lower B2B and Niagen® Ingredient sales, with the later due to Nestlé's upfront minimum pu
Slide 8: Full Year 2023 Net Sales
Full Year 2023 Net Sales FY 2023 Net Sales ($ in millions) YoY % (vs FY 2022) +13% $69.5 +23% +27% (9)% +29% Total +16% 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 new
Slide 9: 2021 – 2023 Net Sales Summary
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 5.
Slide 10: Q4 2023 vs Q4 2022 Key P&L Metrics
Q4 2023 vs Q4 2022 Key P&L Metrics (in thousands) Q4 2023 Q4 2022 Notes Tru Niagen® business up 9% driven by Ecommerce business, partially offset by lower Watson's and B2B sales. Lower Niagen® ingredient Net Sales $21,196 $20,996 sales primarily attributable to the absence of the upfront Nestlé purc
Slide 11: Adjusted EBITDA Summary
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) $ (8,856)
Slide 12: Adjusted EBITDA 2023 vs 2022
Adjusted EBITDA 2023 vs 2022 ChromaDex Corporation and Subsidiaries Reconciliation of Non-GAAP Finanical Measures (In thousands) Year Ended December 31, 2022 2023 Change Net loss, as reported $ (16,540) $ (4,938) $ 11,602 Adjustments Interest (income) expense (3) (661) (658) Depreciation 869 870 1 A
Slide 13: Q4 2023 Operating Loss vs Q4 2022
Q4 2023 Operating Loss vs Q4 2022 $(0.3)MM +$1.5MM (in millions) 13
Slide 14: Quarterly Balance Sheet Highlights
Quarterly Balance Sheet Highlights Key Drivers (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 12/31/23 (December 31 2023 vs 2022) Up $6.9 million driven by cash provided Cash $28,219 $20,993 $17,072 $13,262 $20,441 $23,141 $26,406 $26,773 $27,325 from operating acti
Slide 15: Quarterly Cash Flow Highlights
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 (4,46
Slide 16: 2023 Full Year Outlook Recap
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 & Advertising
Slide 17: 2024 Financial Outlook
2024 Financial Outlook (in thousands) 2022 Actual 2023 Actual 2024 Full Year Outlook Key Drivers • Includes growth from e-commerce business, Higher YoY growth compared to FY 2023 recurring revenues from established partnerships Net Sales $72,050 $83,570 growth of +16% • Includes revenues from new pa
Slide 18: The Science
The Science 18 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)
Slide 19: Science Continues to Expand
Science Continues to Expand • 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 outco
Slide 20: Recent Peer-Reviewed Clinical Publications
Recent Peer-Reviewed Clinical Publications • 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 a
Slide 21: Scientific Advisory Board
Scientific Advisory Board NOBEL PRIZE WINNERS | CHEMISTRY Charles Brenner, Ph.D. Roger Kornberg, Ph.D. Rudolph Tanzi, Ph.D. Alfred E Mann Family Chairman Kennedy Professor of Foundation Chair, Professor of Structural Neurology Department of Diabetes & Biology Harvard University Cancer Metabolism Sta
Slide 22: Clinical Studies on Niagen® in Multiple Health Areas
Clinical Studies on Niagen® in Multiple Health Areas Note: highlighted achievements in duration, participation and dosage only consider completed studies. 22
Slide 23: Contact Info
Contact Info: T: +1(949) 356-1620 InvestorRelations@ChromaDex.com www.chromadex.com Where to buy TRU NIAGEN® TruNiagen.com Amazon.com 23