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Niagen Bioscience (NAGE) investor relations material
Niagen Bioscience Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net sales rose 33% year-over-year to $34.0 million, with Tru NiagenⓇ sales up 44% to $26.0 million, and net income increasing to $4.6 million ($0.06 per share) from $1.9 million ($0.02 per share) last year.
Adjusted EBITDA reached $6.4 million, up 120% year-over-year, reflecting operational leverage.
Cash provided by operations for the nine months ended September 30, 2025, was $12.8 million, with quarter-end cash at $64.3 million and no debt.
Launched AboutNAD®, a digital platform for NAD+ research, and expanded Niagen Plus™ IV and injectable therapies to over 1,000 clinics nationwide.
Growth was driven by strong e-commerce, new partnerships, and expanded clinical distribution.
Financial highlights
Gross margin improved to 64.5% in Q3 2025, up 100 basis points year-over-year, with gross profit at $21.9 million.
Sales and marketing expense as a percentage of net sales improved to 25.8%, down 170 basis points year-over-year.
Operating income for Q3 2025 was $4.2 million, up from $1.6 million in Q3 2024.
R&D expense was $1.8 million, up $500,000 year-over-year; G&A expense rose by $800,000 to $7.1 million, mainly due to share-based compensation.
Diluted EPS was $0.05 for Q3 2025 and $0.15 for the nine months, compared to $0.02 in both periods last year.
Outlook and guidance
Full-year 2025 net sales growth outlook raised to 25%-30% year-over-year, up from 22%-27%.
R&D and G&A expenses expected to rise in absolute dollars but decline as a percentage of net sales; G&A now projected at $8M–$9M.
Gross margin expected to improve year-over-year, supported by supply chain optimization.
Management expects current cash and cash flow from sales to cover obligations for at least the next twelve months.
Confident in delivering significant shareholder returns in 2026 and beyond.
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