Niagen Bioscience (NAGE) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 net sales of $29.8M, with $24.2M from Tru Niagen and 23% year-over-year growth in direct-to-consumer sales; gross margin was 64.8% and net income was $1M, reflecting strong operational performance and profitability.

• Expanded business model beyond supplements to include IV/injection (Niagen Plus), skincare, and pharmaceuticals, with launches in telehealth and regulatory designations for NB4168.

• Completed the sale of the Analytical Reference Standards and Services segment in February 2026, recognizing a $4.8M gain.

• Ended the quarter with $66.7M in cash and no debt, supporting long-term growth investments and $2.8M in stock repurchases.

• Strategic focus on disciplined investment, maintaining profitability, and building a platform for accelerated growth in 2027 and beyond.

Financial highlights

• Q2 2026 net sales were $29.8M, with Tru Niagen contributing $24.2M and e-commerce revenue at $20.5M (+14% YoY).

• Gross margin was 64.8% in Q2 2026, down from 65% YoY; net income was $1M ($0.01 per diluted share), and adjusted EBITDA was $3M.

• Operating income for Q2 2026 was $0.7M, down from $3.2M in Q2 2025.

• Cash from operations year-to-date was $1.6M, with a quarter-end cash balance of $66.7M.

• Selling and marketing expense rose to 34% of net sales (from 26.4% YoY), reflecting investments in growth and new channels.

Outlook and guidance

• E-commerce expected to grow 10%-15% YoY for full year 2026; ingredient business anticipated to be lower due to competition.

• Operating expenses, including R&D and G&A, expected to increase as new products and markets are developed.

• Major revenue growth in Niagen Plus (IV/injection) and new skincare partnerships expected in 2027 after price reductions and broader market access.

• Continued investment in pharmaceutical pipeline, with first-in-human studies for NB4168 planned for next year.

• Operating cash flows expected to fluctuate due to working capital changes and timing of collections and payments.