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1. Company Snapshot

1.a. Company Description

ChromaDex Corporation operates as a bioscience company focusing on healthy aging.The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services.It researches on nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers, as well as to distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.


The company also commercializes NAD+ precursor nicotinamide riboside as the flagship ingredient NIAGEN; NIAGEN as an active ingredient in its consumer products under the TRU NIAGEN name; and IMMULINA, a Braun-type lipoproteins, including spirulina extracts and active compounds, which are used to support human immune function.It also offers analytical reference standards and services comprising supply of products to conduct quality control of raw materials and consumer products in dietary supplements, cosmetics, food and beverages, life sciences, and pharmaceutical industries.The company distributes TRU NIAGEN products direct to consumers through its propriety e-commerce platform TRUNIAGEN.com, Amazon, and other internet marketplaces, as well as specialty retailers and direct healthcare practitioners in the United States.


ChromaDex Corporation is headquartered in Los Angeles, California.

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1.b. Last Insights on CDXC

ChromaDex Corporation's recent performance was driven by strong Q4 2024 earnings and revenue beat, with total net sales of $29.1 million, a 37% increase from the prior year quarter, largely driven by Tru Niagen's sales growth. The company also posted a strong gross margin of 62.5%, up 150 basis points from 61.0% in the prior year quarter. Additionally, general and administrative expense decreased by $4.4 million, which includes a $3.5 million reversal of previously accrued royalties. These factors contributed to the company's net income of $7.2 million.

1.c. Company Highlights

2. Niagen Biosciences' Q3 2025 Earnings: A Strong Performance

Niagen Biosciences reported a record-breaking third quarter of 2025, with revenue reaching $34 million, a 33% year-over-year increase. The company's e-commerce business was a key driver of this growth, with net sales of $19 million, a 29% increase from the same period last year. Gross margin also improved, reaching 64.5%, up 100 basis points from 63.5% in Q3 2024, driven by changes in product mix and lower-cost inventory purchases. Net income for the quarter was $4.6 million, or $0.06083 per share, significantly beating estimates of $0.01667 per share.

Publication Date: Nov -25

📋 Highlights
  • Record Revenue Growth:: Achieved $34 million in revenue, a 33% year-over-year increase, with e-commerce contributing $19 million (29% growth).
  • Net Income Surge:: Net income rose to $4.6 million ($0.06/share) from $1.9 million ($0.02/share) YoY, driven by improved gross margins (64.5%) and cost efficiencies.
  • New Strategic Partnership:: Secured a partner with access to 8,000+ healthcare practitioners to expand Tru Niagen distributor revenues and clinician education initiatives.
  • Revised Guidance:: Raised revenue growth forecast to 25–30% YoY (from 22–27%) and adjusted R&D expenses to decline as a percentage of sales while increasing in absolute terms.
  • At-Home Injection Expansion:: Launched Niagen Plus at-home kits (prescription-only) and plans to deploy a telehealth platform for direct-to-consumer prescriptions by mid-2026.

Business Developments

The company onboarded a new strategic partner with access to over 8,000 medical and healthcare practitioners, strengthening its Tru Niagen distributor revenues. Niagen Plus remains a key strategic focus, with the launch of at-home injection kits available to patients with a prescription. The company plans to expand distribution via its own telehealth platform, leveraging its e-commerce expertise to reach more patients. As Robert Fried stated, "We do believe that the at-home kits are important for our future."

Guidance and Outlook

Niagen Biosciences revised its revenue growth guidance to 25%-30% year-over-year, supported by its strong e-commerce business and existing and new partnerships. The company also expects research and development expenses to decline as a percentage of net sales, while still increasing in absolute dollars. General and administrative expenses are expected to increase by $8 million to $9 million year-over-year.

Valuation

With a P/E Ratio of 30.66 and an ROE of 35.46%, Niagen Biosciences' stock appears to be reasonably valued. The company's EV/EBITDA ratio is 27.07, indicating a moderate valuation. Analysts estimate next year's revenue growth at 21.4%, which, combined with the company's strong Q3 performance, suggests a positive outlook for the stock.

3. NewsRoom

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ChromaDex Evolves Into Niagen Bioscience, Marking a New Era of Uncovering the Potential of NAD+ With Precision Science

Mar -19

Source: businesswire.com

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ChromaDex Corp. Announces Name Change to Niagen Bioscience, Inc. and New Ticker Symbol "NAGE" Effective March 19, 2025

Mar -13

Source: businesswire.com

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ChromaDex Capitalizes On Longevity Boom But Valuation Remains High

Mar -06

Source: seekingalpha.com

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ChromaDex Corporation (CDXC) Q4 2024 Earnings Call Transcript

Mar -05

Source: seekingalpha.com

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ChromaDex (CDXC) Q4 Earnings and Revenues Surpass Estimates

Mar -04

Source: zacks.com

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ChromaDex Corporation Reports Fourth Quarter and Fiscal Year 2024 Results

Mar -04

Source: businesswire.com

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Pick These 4 Stocks With Solid Net Profit Margin to Boost Return

Feb -20

Source: zacks.com

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ChromaDex to Participate in the Lytham Partners 2025 Investor Healthcare Summit on January 13, 2025

Jan -06

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (14.43%)

6. Segments

Consumer Products

Expected Growth: 15%

ChromaDex Corporation's 15% growth in Consumer Products is driven by increasing demand for healthy aging and wellness products, particularly among the aging population. The company's proprietary Nicotinamide Riboside (NR) ingredient, a key component in its Tru Niagen supplement, is a major contributor to this growth. Additionally, expanding distribution channels, strategic partnerships, and a growing e-commerce presence also support the segment's rapid growth.

Ingredients

Expected Growth: 12%

ChromaDex Corporation's 12% growth is driven by increasing demand for healthy aging and wellness products, rising adoption of Tru Niagen, a proprietary nicotinamide riboside (NR) ingredient, and expansion into new markets. Additionally, growing awareness of the importance of nicotinamide adenine dinucleotide (NAD+) in energy metabolism and DNA repair is fueling demand for ChromaDex's ingredients.

Analytical Reference Standards and Services

Expected Growth: 10%

ChromaDex's Analytical Reference Standards and Services segment growth is driven by increasing demand for quality control in the pharmaceutical, nutraceutical, and food industries. Rising regulatory requirements, growing consumer awareness of product safety, and the need for precise analytical testing are key factors contributing to 10% growth.

7. Detailed Products

TRU NIAGEN

A proprietary nicotinamide riboside (NR) supplement that supports energy metabolism and overall health

Immulina

A proprietary, patented, and clinically-tested beta-1,3-D glucan ingredient that supports immune system function

pTeroPure

A proprietary, patented, and clinically-tested pterostilbene antioxidant supplement that supports heart health and cognitive function

Nicotinamide Riboside (NR)

A vitamin B3 derivative that supports energy metabolism, mitochondrial function, and overall health

ChromaDex External Sales

A range of proprietary, patented, and clinically-tested ingredients sold to third-party companies for use in their products

8. ChromaDex Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

ChromaDex Corporation's products are highly specialized and unique, making it difficult for substitutes to emerge.

Bargaining Power Of Customers

While ChromaDex Corporation has a diverse customer base, some large customers may have bargaining power due to their significant purchasing volumes.

Bargaining Power Of Suppliers

ChromaDex Corporation has a diversified supplier base, reducing the bargaining power of individual suppliers.

Threat Of New Entrants

The nutritional supplement industry is highly competitive, and new entrants may emerge, posing a threat to ChromaDex Corporation's market share.

Intensity Of Rivalry

The nutritional supplement industry is highly competitive, with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 10.33%
Debt Cost 3.95%
Equity Weight 89.67%
Equity Cost 13.76%
WACC 12.74%
Leverage 11.52%

11. Quality Control: ChromaDex Corporation passed 7 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
ChromaDex

A-Score: 4.8/10

Value: 1.7

Growth: 7.3

Quality: 9.1

Yield: 0.0

Momentum: 9.5

Volatility: 1.3

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Ligand Pharmaceuticals

A-Score: 4.8/10

Value: 4.4

Growth: 4.4

Quality: 3.9

Yield: 0.0

Momentum: 10.0

Volatility: 6.0

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Protagonist Therapeutics

A-Score: 4.7/10

Value: 0.2

Growth: 9.4

Quality: 8.0

Yield: 0.0

Momentum: 8.0

Volatility: 2.3

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Ardelyx

A-Score: 3.8/10

Value: 6.8

Growth: 6.2

Quality: 4.7

Yield: 0.0

Momentum: 3.0

Volatility: 2.0

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BeyondSpring

A-Score: 3.7/10

Value: 8.3

Growth: 5.8

Quality: 6.7

Yield: 0.0

Momentum: 0.5

Volatility: 0.7

1-Year Total Return ->

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Y-mAbs Therapeutics

A-Score: 3.3/10

Value: 6.8

Growth: 7.3

Quality: 4.6

Yield: 0.0

Momentum: 0.5

Volatility: 0.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.87$

Current Price

7.87$

Potential

-0.00%

Expected Cash-Flows