ChromaDex Corporation ( (CDXC) ) has released its Q3 earnings. Here is a breakdown of the information ChromaDex Corporation presented to its investors.
ChromaDex Corporation is a global bioscience company that specializes in pioneering research on NAD+ and its role in cellular metabolism, offering products like Tru Niagen® to support healthy aging.
ChromaDex Corporation has reported an impressive performance for the third quarter of 2024, with a remarkable 31% increase in total net sales compared to the previous year, reaching $25.6 million. The company achieved a gross margin of 63.5% and a record net income of $1.9 million, highlighting strong financial health and strategic growth.
Key drivers of this growth include a significant rise in Niagen® ingredient sales, which soared by 368% year-over-year, and steady gains in Tru Niagen® sales. The company also improved its sales and marketing efficiency, reducing expenses as a percentage of net sales by 350 basis points. Additionally, ChromaDex celebrated its 25th anniversary by expanding the availability of its Niagen+ product line to over 100 wellness clinics, reflecting its commitment to innovative health solutions.
Looking forward, ChromaDex aims for approximately 15% revenue growth for the full year, focusing on expanding its e-commerce business and strategic partnerships. The company plans to maintain its investment in research and development to drive future innovation while keeping a stable expense structure to support brand awareness and market expansion.
