ChromaDex(US:CDXC)2023-11-09 02:08Financial Performance - Q3 2023 - ChromaDex's total company net sales increased by 14% year-over-year[11], reaching $195 million[25] - Tru Niagen® net sales increased by 19% year-over-year[11], and accounted for 89% of net sales in Q3 2023, compared to 85% in Q3 2022[26] - Gross margin improved to 614%, up 160 basis points year-over-year, compared to 598%[11] - Adjusted EBITDA was a positive $05 million, a $17 million improvement year-over-year[12] Year-to-Date 2023 - Year-to-date net sales increased by 22% compared to the same period in 2022[38], with Niagen®-related business up 23%[38] - E-commerce net sales reached $379 million, up 11% year-over-year[34] - Watson's & Other B2B net sales reached $140 million, up 42% year-over-year[35] - Niagen® Ingredient net sales reached $78 million, up 78% year-over-year[36] Financial Outlook for 2023 - The company narrowed its full-year 2023 revenue outlook to between 14% - 16% growth[14] - Gross margin is expected to remain stable year-over-year[64] - Selling, Marketing & Advertising expenses are expected to decrease as a percentage of net sales[64] Science and Research - Tru Niagen® 1,000 mg launched in October 2023, which can elevate NAD levels by up to 150% after three weeks[14] - A clinical study published in Cell Reports found that NR supplementation effectively reduced inflammation[13] - Four new human trials on nicotinamide riboside have registered since prior update[67]