Financial Data and Key Metrics Changes - In Q4 2025, revenue was $33.8 million, a 16% year-over-year increase, with net income of $4.1 million [6][24] - For the full year 2025, net revenue reached $129.4 million, representing a 30% growth year-over-year, and net income was $17.4 million [7][26] - The company ended the year with $64.8 million in cash and no debt, reinforcing financial stability [30] Business Line Data and Key Metrics Changes - Revenue from Tru Niagen grew by 21% to $27.5 million, primarily driven by e-commerce sales of $20.2 million, which increased by 17% [26][28] - Niagen ingredient revenue was $5.6 million, up 5% year-over-year, with food-grade sales at $4.7 million and pharma-grade sales at $900,000 [27] - Revenue from B2B distribution partners totaled $7.3 million, supported by strategic partnerships [27] Market Data and Key Metrics Changes - The company is expanding its presence in over 1,200 health clinics and plans to launch at-home injection kits through a telehealth platform [10] - The market for NAD products is growing, with increased competition, particularly from NMN products [8][11] Company Strategy and Development Direction - The company aims to build on its strong foundation in NAD science, focusing on expanding its product offerings and market presence [8][10] - Plans include launching Niagen Plus branded at-home injection kits and expanding into the beauty cosmetics market [10][11] - The company is pursuing litigation against the FDA regarding NMN products, believing it has a strong case [11][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong performance in 2026 despite challenges from increased competition [8] - The company anticipates 10%-15% growth in net sales for 2026, with a slight improvement in gross margin [32][33] - Management emphasized the importance of scientific integrity and continued investment in R&D to support innovation [29] Other Important Information - The company divested its ChromaDex Reference Standards business to streamline operations and focus on core activities [13][32] - A recent patent was secured for NR and derivatives in intravenous and injectable formulations, indicating potential growth opportunities [10] Q&A Session Summary Question: Discussion on injections and SKUs - The company plans to initially offer one SKU for injections, targeting the biohacker community and expanding to other audiences later [40] Question: Guidance for the year - Management indicated that guidance is conservative, reflecting a cautious approach to revenue projections [43] Question: Growth drivers for the year - Growth is expected from existing products, new distribution channels, and increased awareness of Niagen and Tru Niagen [50] Question: Legal proceedings against the FDA - Management believes the lawsuit will not significantly impact costs and expects a summary judgment [62] Question: Share repurchase strategy - The company plans to utilize its $10 million buyback program more actively in the future [65]

Financial Data and Key Metrics Changes - In Q4 2025, revenue was $33.8 million, a 16% year-over-year increase, with net income of $4.1 million [5][21] - For the full year 2025, net revenue reached $129.4 million, representing a 30% growth year-over-year, and net income was $17.4 million compared to $8.6 million in 2024 [5][23] - The company ended the year with $64.8 million in cash and no debt, reinforcing financial stability [5][26] Business Line Data and Key Metrics Changes - Revenue from Tru Niagen grew by 21% to $27.5 million, primarily driven by e-commerce sales of $20.2 million, up 17% [23][24] - Niagen ingredient revenue was $5.6 million, a 5% increase year-over-year, with food-grade sales at $4.7 million and pharma-grade sales at $900,000 [24] - Revenue from B2B distribution partners totaled $7.3 million, supported by strategic partnerships [24] Market Data and Key Metrics Changes - The company is expanding its presence in over 1,200 health clinics and plans to launch at-home injection kits through a telehealth platform in 2026 [8] - The company anticipates continued growth in Asia-Pacific markets and selective retail channels [47] Company Strategy and Development Direction - The company aims to focus on NAD science and has divested non-core activities, such as the sale of the ChromaDex Reference Standards business [11][29] - Plans include launching Niagen Plus branded at-home injection kits and expanding into the beauty cosmetics market [8][9] - The company is pursuing litigation against the FDA regarding NMN products, believing it has a strong case [9][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong performance in 2026 despite increased competition in the NAD space [6][31] - The company expects 10%-15% growth in net sales for 2026, with a slight improvement in gross margin due to supply chain efficiencies [29][30] - Management emphasized the importance of scientific integrity and continued investment in R&D to support innovation [25][30] Other Important Information - The company secured a patent for intravenous and injectable formulations of NR, indicating potential for new product offerings [8] - Management highlighted the therapeutic potential of NR supplementation based on recent studies, including benefits for long COVID and cognitive health [14][16] Q&A Session Summary Question: Discussion on injections and SKUs - The company plans to start with one SKU for injections, targeting the biohacker community and those interested in longevity interventions [35][36] Question: Guidance for the year - Management indicated that guidance is conservative, reflecting a cautious approach to revenue projections [40] Question: Growth drivers for the year - Growth is expected from existing products, new IV and beauty products, and expanded distribution channels [46][47] Question: Lawsuit against the FDA - Management believes the lawsuit will not significantly impact costs and anticipates a summary judgment [56][57] Question: Share repurchase strategy - The company plans to utilize its $10 million buyback program more actively in the future [60]