Niagen Bioscience (NAGE) Q1 2026 earnings summary

Executive summary

• Net sales rose 3% year-over-year to $31.5 million in Q1 2026, with Tru Niagen® contributing $22.4 million and core e-commerce business growing 14% year-over-year.

• Net income increased to $6.3 million, up from $5.1 million in Q1 2025, aided by a $4.8 million gain from the sale of the Analytical Reference Standards and Services segment.

• Ended the quarter with $66.5 million in cash and no debt, supporting operational flexibility.

• Launched Niagen Plus at-home injection kit, pilot-launched Niagen NanoCloud skincare product, and expanded into telehealth and cruise ship clinic partnerships.

• Achieved USP dietary supplement ingredient monograph for Niagen, setting a global quality benchmark.

Financial highlights

• Gross margin improved to 63.5%, up 10 basis points from prior year, with gross profit of $20.0 million.

• Tru Niagen revenue grew 4% to $22.4 million, driven by 14% e-commerce growth; Niagen ingredient revenue was $8.2 million, up 2% year-over-year.

• Operating income was $1.6 million, down from $4.8 million in Q1 2025 due to higher operating expenses.

• Adjusted EBITDA was $3.8 million, excluding non-core divestiture gains.

• Net cash used by operations was $1.2 million, compared to $7.9 million provided last year.

Outlook and guidance

• Reaffirmed full-year 2026 revenue growth guidance of 10%-15% year-over-year, excluding the divested segment.

• E-commerce expected to remain a consistent growth engine; innovative launches and new partnerships to provide upside.

• Selling and marketing, as well as R&D expenses, projected to increase to support new initiatives and product launches.

• G&A expenses now expected to rise $3M-$4M year-over-year, less than previously forecast.

• Current cash and expected operating cash flows projected to meet obligations for at least the next twelve months.