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ChromaDex Corporation (CDXC)
NASDAQ:CDXC
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Chromadex
(NASDAQ:CDXC)
71Outperform
Positive Factors
Earnings Performance
ChromaDex reported impressive earnings outperformance with multiple revenue accelerants.
Market Expansion
Niagen Plus products are now available at over 475 leading wellness clinics in the U.S., indicating a massive expansion.
Strategic Rebranding
ChromaDex announced that it will change its corporate name to Niagen Bioscience, Inc. and trade under the new NASDAQ symbol 'NAGE', indicating a strategic rebranding effort.
Negative Factors
Regulatory Challenges
If the NO-PARK results prove positive, ChromaDex may explore the possibility of obtaining regulatory approval for a pharmaceutical-grade formulation of NR to treat Parkinson's disease.
Research and Development Costs
The company plans to continue investing in R&D to drive future innovation.
Sales and Marketing Expenses
Sales and marketing expenses accounted for only 27.5% of net sales vs. 31% in the year-ago period.
Chromadex (CDXC) vs. S&P 500 (SPY)
Market Cap
$611.90M
Dividend YieldN/A
Average Volume (3M)1.23M
Price to Earnings (P/E)73.5
Beta (1Y)0.57
Revenue Growth19.18%
EPS GrowthN/A
CountryUS
Employees106
SectorHealthcare
Sector Strength71
IndustryBiotechnology
Share Statistics
EPS (TTM)0.10
Shares Outstanding77,750,450
10 Day Avg. Volume2,817,099
30 Day Avg. Volume1,226,803
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)6.20
Price to Cash Flow (P/CF)18.00
P/FCF Ratio18.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$9.03Price Target Upside16.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Chromadex Business Overview & Revenue Model
Company DescriptionChromadex Corp. is a nutraceutical company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It operates through the following segments: Ingredients, Consumer Products, and Analytical Reference Standards and Services. The Ingredients segment offers NIAGEN in an ingredient form to partners. The Consumer Products segment sells TRU NIAGEN to improve health by safely raising NAD levels. The Analytical Reference Standards and Services segment provides product regulatory approval and scientific advisory services to the clients in the food, supplement, and pharmaceutical industries. The company was founded by Mark S. Germain and Frank L. Jaksch, Jr. in September 1999 and is headquartered in Irvine, CA.
How the Company Makes MoneyChromaDex makes money through the sale of its proprietary ingredient, Niagen, and its branded dietary supplement product, Tru Niagen. The company generates revenue primarily via direct-to-consumer sales through its e-commerce platform as well as through retail partnerships with major retailers and distributors. Additionally, ChromaDex licenses its ingredient technology to third parties, which further contributes to its revenue streams. The company also invests in research and development to support product efficacy claims, enhance brand credibility, and expand its market reach through scientific validation and partnerships with research institutions.
Chromadex Financial Statement Overview
Summary
ChromaDex shows strong financial improvements with positive net income and cash flow. The balance sheet remains robust with low leverage. However, declining revenue poses a long-term risk.Income Statement
Chromadex shows a substantial recovery in net income from a loss of $4.94M in 2023 to a profit of $8.55M in 2024, indicating strong profitability improvements. However, revenue decreased from $83.57M in 2023 to $61.59M in 2024, resulting in a negative revenue growth rate, which is a concern. The company achieved a positive EBIT margin, shifting from a negative margin in the previous year, reflecting improved operational efficiency.65
Positive
Balance Sheet
The company has a strong equity position with a debt-to-equity ratio of 0.06, indicating low leverage. The equity ratio increased to 67.5% in 2024, up from 51.8% in 2023, highlighting a solid capital structure. Return on equity improved significantly with positive net income, reflecting enhanced shareholder value. The balance sheet is robust, but a reduction in total revenue could impact future stability.72
Positive
Cash Flow
Chromadex's free cash flow increased significantly from $6.97M in 2023 to $11.95M in 2024, showcasing strong cash generation capabilities. The operating cash flow to net income ratio is healthy, indicating efficient conversion of income into cash. Despite a decrease in investing cash flow, the strong free cash flow growth signals good financial health.78
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 61.59M | 83.57M | 72.05M | 67.45M | 59.26M | Gross Profit |
| 61.59M | 50.78M | 42.80M | 41.49M | 35.27M | EBIT |
| 7.73M | -5.60M | -18.63M | -27.07M | -19.85M | EBITDA |
| 7.73M | -3.89M | -16.74M | -25.45M | -18.34M | Net Income Common Stockholders |
| 8.55M | -4.94M | -14.45M | -25.56M | -18.48M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 44.66M | 27.32M | 20.24M | 28.02M | 16.50M | Total Assets |
| 68.28M | 54.96M | 54.06M | 57.84M | 38.36M | Total Debt |
| 2.65M | 3.28M | 4.26M | 4.70M | 1.64M | Net Debt |
| -42.01M | -23.90M | -15.98M | -23.32M | -14.86M | Total Liabilities |
| 22.18M | 26.51M | 25.39M | 26.11M | 21.93M | Stockholders Equity |
| 46.09M | 28.46M | 28.67M | 31.73M | 16.42M |
| Cash Flow | Free Cash Flow | |||
| 11.95M | 6.97M | -15.43M | -24.57M | -10.74M | Operating Cash Flow |
| 12.11M | 7.12M | -15.10M | -24.16M | -10.60M | Investing Cash Flow |
| -143.00K | -143.00K | -334.00K | -409.00K | -165.00K | Financing Cash Flow |
| 5.37M | -90.00K | 7.65M | 36.09M | 8.65M |
Chromadex Technical Analysis
Positive
7.74
Price Trends
6.32
Positive
6.30
Positive
4.73
Positive
Market Momentum
0.45
Positive
58.50
Neutral
39.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDXC, the sentiment is Positive. The current price of 7.74 is above the 20-day moving average (MA) of 7.25, above the 50-day MA of 6.32, and above the 200-day MA of 4.73, indicating a bullish trend. The MACD of 0.45 indicates Positive momentum. The RSI at 58.50 is Neutral, neither overbought nor oversold. The STOCH value of 39.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CDXC.
Chromadex Risk Analysis
Chromadex disclosed 55 risk factors in its most recent earnings report. Chromadex reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Chromadex Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $611.90M | 73.50 | 22.94% | ― | 19.18% | ― | |
71 Outperform | $184.00M | 27.53 | 25.67% | 1.00% | 0.57% | 155.00% | |
70 Outperform | $230.67M | 30.89 | 4.98% | ― | 2.03% | -47.76% | |
66 Neutral | $853.09M | 3.24 | -31.74% | ― | -1.37% | 75.47% | |
66 Neutral | $496.43M | 11.99 | 7.76% | ― | -7.22% | -33.67% | |
55 Neutral | $154.77M | 73.26 | 1.02% | ― | -43.80% | -97.89% | |
49 Neutral | $6.90B | 0.78 | -53.24% | 2.46% | 20.86% | 1.26% |
* Healthcare Sector Average
Performance Comparison
CDXC
Chromadex
7.52
3.85
104.90%
HLF
Herbalife
8.22
-1.25
-13.20%
MED
Medifast
13.86
-23.67
-63.07%
NATR
Nature's Sunshine Products
12.48
-7.75
-38.31%
USNA
USANA Health
26.26
-22.01
-45.60%
LFVN
LifeVantage
14.66
8.54
139.54%
Chromadex Earnings Call Summary
Earnings Call Date: Mar 4, 2025 | % Change Since: 38.21% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong financial performance with record revenues, increased cash flow, and improved operational efficiency. However, the company faces challenges in the supply chain and regulatory landscape, necessitating vigilance against market competitors' misleading practices. Overall, the positive financial results and strategic initiatives suggest a promising outlook despite these challenges.Highlights
Record-Breaking Revenue and Growth
ChromaDex delivered record revenues of $29.1 million for Q4 2024, a 37% increase year-over-year, and net income of $7.2 million. Full year net revenues were $99.6 million, a 19% growth YOY.
Strong Cash Flow and Financial Position
Generated $12.1 million in positive cash flow from operations in 2024, ended the year with $44.7 million in cash and no debt.
E-commerce and Ingredient Business Growth
E-commerce channel net sales were $17.3 million, a 30% increase YOY. Food grade and pharmaceutical-grade Niagen ingredient business had net sales of $5.3 million, a 96% increase YOY.
Improved Operational Efficiency
Gross margins improved by 150 basis points to 62.5% in Q4 2024, reflecting operational efficiency and a strategic business mix.
Reduction in Expenses
Selling and marketing expenses as a percentage of net sales improved by 90 basis points, and general and administrative expenses decreased by $6.6 million YOY.
Strategic Initiatives and Name Change
ChromaDex plans to announce a company name change to better represent its strategic direction and growth.
Lowlights
Supply Chain Challenges for Niagen IV
Issues in the pharmaceutical-grade supply chain delayed the availability of Niagen IV by 2 to 3 months, affecting sales.
Regulatory and Market Challenges
Faced challenges with misleading and dangerous practices by competitors in the NAD market, including patent infringements and false claims.
FDA and FTC Regulatory Actions Needed
Company expressed the need for more action from the FDA and FTC to prevent consumer deception in the NAD market.
Company Guidance
During the ChromaDex Corporation's Fourth Quarter 2024 earnings call, the company reported record revenues of $29.1 million, marking a 37% year-over-year increase, and net income of $7.2 million for the quarter. For the full year, ChromaDex achieved net revenues of $99.6 million, a 19% growth from the previous year, and net income of $8.6 million. The company generated a positive cash flow of $12.1 million from operations in 2024 and ended the year with $44.7 million in cash and no debt. The e-commerce channel experienced a 30% year-over-year growth with net sales of $17.3 million, while the Niagen ingredient business saw a 96% increase in sales year-over-year. Gross margins improved by 150 basis points to 62.5% in the fourth quarter. For 2025, ChromaDex projects an 18% growth in net sales, with anticipated modest improvements in gross margins. The company also plans to increase R&D and general administrative expenses while maintaining operational efficiency. Additionally, a corporate rebranding is expected to be announced in the coming weeks.Chromadex Corporate Events
Delistings and Listing ChangesBusiness Operations and Strategy
Chromadex Rebrands to Niagen Bioscience, Inc.
Positive
Mar 19, 2025
On March 19, 2025, ChromaDex Corp. announced its rebranding to Niagen Bioscience, Inc., reflecting its focus on NAD+ research and healthy-aging solutions. The company aims to strengthen its market position and expand scientific discoveries, with its stock now trading under the new Nasdaq symbol ‘NAGE’. The rebranding is part of a strategic evolution to highlight its leadership in NAD+ supplementation, supported by strong financial results and a robust product portfolio.
Product-Related AnnouncementsBusiness Operations and StrategyFinancial Disclosures
Chromadex Reports Strong Q4 2024 Financial Growth
Positive
Mar 4, 2025
ChromaDex Corporation reported significant financial growth for the fourth quarter and fiscal year 2024, with a 37% increase in fourth quarter net sales to $29.1 million and a 19% rise in full-year net sales to $99.6 million. The company achieved a record net income of $7.2 million for the quarter and $8.6 million for the year, driven by strong sales of Tru Niagen® and Niagen ingredients. ChromaDex also launched Niagen Plus in 2024, expanding its market presence in wellness clinics. The company ended the year with $44.7 million in cash and no debt, positioning itself strongly for future growth.
Executive/Board ChangesBusiness Operations and Strategy
Chromadex Amends CEO Compensation Package for 2025
Neutral
Feb 27, 2025
On February 25, 2025, ChromaDex Corporation amended its Executive Employment Agreement with CEO Robert Fried, effective January 1, 2025, increasing his base salary to $650,000 and setting a target performance bonus at 75% of his salary. Additionally, the company granted Fried 1,518,600 performance stock units, which vest based on achieving specific stock price targets over a seven-year period, reflecting the company’s strategy to retain leadership and align executive incentives with shareholder value.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.