10-K Filing

Niagen Bioscience, Inc. CIK: 1386570 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001628280-23-006968`
Period End Date	20221231
Filing Date	20230308
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	cdxc-20221231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 31 Cash Flow Statement 68 Stockholders Equity 17

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$65.00K	USD	Point-in-time
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$122.00K	USD	Point-in-time
Receivables from related party	`AccountsReceivableRelatedPartiesCurrent`	$2.10M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.70M	USD	Point-in-time
Receivables from related party	`AccountsReceivableRelatedPartiesCurrent`	$3.10M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	USD	Point-in-time
Trade receivables, net of allowances of $122 and $65, respectively; Including receivables from Related Party of $3.1 million and $2.1 million, respectively.	`AccountsReceivableNetCurrent`	$5.23M	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net of allowances of $122 and $65, respectively; Including receivables from Related Party of $3.1 million and $2.1 million, respectively.	`AccountsReceivableNetCurrent`	$8.48M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventories	`InventoryNet`	$14.68M	USD	Point-in-time
Inventories	`InventoryNet`	$13.60M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$2.97M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	68.13M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$1.86M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	74.57M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$48.91M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	68.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.57M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	74.57M	shares	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$2.80M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$3.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$671.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$857.00K	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$4.35M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$3.52M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$723.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$497.00K	USD	Point-in-time
Total assets	`Assets`	$54.06M	USD	Point-in-time
Total assets	`Assets`	$57.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.42M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.48M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$528.00K	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$680.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$16.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$20.00K	USD	Point-in-time
Customer deposits	`DeferredIncomeCurrent`	$161.00K	USD	Point-in-time
Customer deposits	`DeferredIncomeCurrent`	$157.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.61M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$3.96M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$4.35M	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$3.54M	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$4.15M	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$22.00K	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$26.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.39M	USD	Point-in-time
Commitments and Contingencies (Notes 10 and 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Notes 10 and 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; authorized 150,000 shares; 74,567 shares and 68,126 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively.	`CommonStockValue`	$74.00K	USD	Point-in-time
Common stock, $0.001 par value; authorized 150,000 shares; 74,567 shares and 68,126 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively.	`CommonStockValue`	$68.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$200.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$214.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-185.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-168.95M	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	$-3.00K	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	$-2.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.73M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$54.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$57.84M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$67.45M	USD	Annual
Sales, net	`Revenues`	$72.05M	USD	Annual
Cost of sales	`CostOfRevenue`	$29.25M	USD	Annual
Cost of sales	`CostOfRevenue`	$25.96M	USD	Annual
Gross profit	`GrossProfit`	$42.80M	USD	Annual
Gross profit	`GrossProfit`	$41.49M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$28.35M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$28.31M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.83M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.83M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$36.38M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$28.29M	USD	Annual
Total operating expenses	`OperatingExpenses`	$68.56M	USD	Annual
Total operating expenses	`OperatingExpenses`	$61.42M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-18.63M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-27.07M	USD	Annual
Other income, net - Employee Retention Tax Credit	`OtherIncomeNetEmployeeRetentionCreditCARESAct`	-	USD	Annual
Other income, net - Employee Retention Tax Credit	`OtherIncomeNetEmployeeRetentionCreditCARESAct`	$2.08M	USD	Annual
Other income, net - Employee Retention Tax Credit	`OtherIncomeNetEmployeeRetentionCreditCARESAct`	$2.10M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$3.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-55.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-16.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-27.13M	USD	Annual
Basic loss per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.40	USD	Annual
Basic loss per common share (in dollars per share)	`EarningsPerShareDiluted`	$-0.24	USD	Annual
Diluted loss per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.40	USD	Annual
Diluted loss per common share (in dollars per share)	`EarningsPerShareBasic`	$-0.24	USD	Annual
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.19M	shares	Annual
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	69.73M	shares	Annual
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	67.19M	shares	Annual
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	69.73M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-16.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-27.13M	USD	Annual
Depreciation of leasehold improvements and equipment	`Depreciation`	$869.00K	USD	Annual
Depreciation of leasehold improvements and equipment	`Depreciation`	$890.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$186.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$225.00K	USD	Annual
Amortization of right of use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$829.00K	USD	Annual
Amortization of right of use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$511.00K	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$6.20M	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$5.74M	USD	Annual
Loss on disposal of leasehold improvements and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Loss on disposal of leasehold improvements and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.00K	USD	Annual
Provision for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$63.00K	USD	Annual
Provision for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$46.00K	USD	Annual
Non-cash financing costs	`OtherNoncashIncomeExpense`	$-108.00K	USD	Annual
Non-cash financing costs	`OtherNoncashIncomeExpense`	$-67.00K	USD	Annual
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$2.58M	USD	Annual
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$3.32M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.08M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.92M	USD	Annual
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	$304.00K	USD	Annual
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	$278.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$872.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$810.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$978.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-744.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$856.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$348.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-95.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-391.00K	USD	Annual
Customer deposits and other	`IncreaseDecreaseInDeferredRevenue`	$-116.00K	USD	Annual
Customer deposits and other	`IncreaseDecreaseInDeferredRevenue`	$-5.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-463.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-541.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.16M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.10M	USD	Annual
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$409.00K	USD	Annual
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$334.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-334.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-409.00K	USD	Annual
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$7.75M	USD	Annual
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$26.74M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.49M	USD	Annual
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$77.00K	USD	Annual
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$110.00K	USD	Annual
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$16.00K	USD	Annual
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$31.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.09M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.65M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.52M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.78M	USD	Annual
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.70M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.70M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $0.2 million for both 2022 and 2021 - end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	USD	Point-in-time
Cash payments for interest on finance leases	`InterestPaidNet`	$1.00K	USD	Annual
Cash payments for interest on finance leases	`InterestPaidNet`	$1.00K	USD	Annual
Cash payments for principal on operating lease liabilities	`OperatingLeasePayments`	$541.00K	USD	Annual
Cash payments for principal on operating lease liabilities	`OperatingLeasePayments`	$507.00K	USD	Annual
Right-of-use assets and operating lease obligations incurred for entering into lease amendment	`RightOfUseAssetsAndOperatingLeaseLiabilitiesIncurredDueToLeaseAmendment`	-	USD	Annual
Right-of-use assets and operating lease obligations incurred for entering into lease amendment	`RightOfUseAssetsAndOperatingLeaseLiabilitiesIncurredDueToLeaseAmendment`	$3.64M	USD	Annual
Financing lease obligation incurred for computer equipment and software	`FinanceLeaseObligationIncurredForPurchaseOfComputerEquipmentAndSoftware`	$34.00K	USD	Annual
Financing lease obligation incurred for computer equipment and software	`FinanceLeaseObligationIncurredForPurchaseOfComputerEquipmentAndSoftware`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$400.00K	USD	Annual
Offering costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$400.00K	USD	Annual
Beginning balance	`StockholdersEquity`	$16.42M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$28.67M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$31.73M	USD	Point-in-time
Issuance of common stock, net of offering costs	`IssuanceOfCommonStockNetOfOfferingCostsAmount`	$26.74M	USD	Annual
Issuance of common stock, net of offering costs	`IssuanceOfCommonStockNetOfOfferingCostsAmount`	$7.75M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.49M	USD	Annual
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.20M	USD	Annual
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.74M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-1.00K	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$1.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-16.54M	USD	Annual
Net loss	`NetIncomeLoss`	$-27.13M	USD	Annual
Ending balance	`StockholdersEquity`	$16.42M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$28.67M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$31.73M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.