ChromaDex(US:CDXC)2024-10-31 20:01Financial Performance - Total net sales reached $25.6 million, a 31% increase year-over-year, with $18.1 million from Tru Niagen®[1] - Net income was $1.9 million, or $0.02 per share, compared to a net loss of $1.0 million or $(0.01) per share in Q3 2023[10] - Adjusted EBITDA reached a record $2.9 million, up from $0.5 million in the same quarter last year[11] - Net income for Q3 2024 was reported at $1,878,000, a significant improvement from a loss of $959,000 in Q3 2023[23] - Adjusted EBITDA for Q3 2024 reached $2,888,000, compared to $504,000 in Q3 2023, reflecting a year-over-year increase of 472.2%[23] Sales and Marketing - Niagen® ingredient sales, including food-grade and pharmaceutical-grade, surged to $6.7 million, up 368% YoY[2] - Sales and marketing expense as a percentage of net sales improved to 27.5%, a 350 basis point improvement from the prior year[2] - The company expects approximately 15% revenue growth year-over-year for the full year 2024, driven by e-commerce and the Niagen+ product line launch[13] - ChromaDex expanded the availability of Niagen+ to over 100 wellness clinics, with further expansion expected[4] Assets and Liabilities - Total current assets increased to $52,134,000 as of September 30, 2024, compared to $49,534,000 at December 31, 2023, representing a growth of 3.2%[21] - Cash and cash equivalents at the end of the period were $32,398,000, up from $27,325,000, marking an increase of 18.8%[22] - Total liabilities decreased to $22,153,000 as of September 30, 2024, down from $26,496,000 at December 31, 2023, indicating a reduction of 16.5%[21] - Current liabilities decreased to $17,699,000, down from $20,622,000, representing a decrease of 14.0%[21] - The company’s total stockholders' equity increased to $34,369,000 as of September 30, 2024, compared to $28,456,000 at December 31, 2023, reflecting a growth of 20.7%[21] Operating Expenses - Operating expenses increased by 12% to $14.6 million, with selling and marketing expenses rising but improving as a percentage of net sales[9] - Cash flows from operating activities had a net inflow of $3.5 million for the nine months ended September 30, 2024[12] - The company reported a net cash provided by operating activities of $3,526,000 for the nine months ended September 30, 2024, compared to $6,468,000 for the same period in 2023[22] Inventory and Receivables - Trade receivables increased to $7,096,000, up from $5,234,000, which is a rise of 35.6%[21] - Inventories decreased to $10,544,000 from $14,525,000, showing a decline of 27.4%[21]