10-Q Filing

Niagen Bioscience, Inc. CIK: 1386570 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001628280-23-017204`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	cdcx-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$122.00K	USD	Point-in-time
Trade receivables, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$499.00K	USD	Point-in-time
Receivables from related party	`AccountsReceivableRelatedPartiesCurrent`	$3.50M	USD	Point-in-time
Receivables from related party	`AccountsReceivableRelatedPartiesCurrent`	$3.10M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.99M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.14M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods presented	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	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 $499 and $122, respectively; Including receivables from Related Party of: $3.5 million and $3.1 million, respectively	`AccountsReceivableNetCurrent`	$8.48M	USD	Point-in-time
Trade receivables, net of allowances of $499 and $122, respectively; Including receivables from Related Party of: $3.5 million and $3.1 million, respectively	`AccountsReceivableNetCurrent`	$9.22M	USD	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock authorized (in shares)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventories	`InventoryNet`	$11.91M	USD	Point-in-time
Inventories	`InventoryNet`	$14.68M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	74.57M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$2.97M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	74.67M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$2.29M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	74.57M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.57M	USD	Point-in-time
Common stock outstanding (in shares)	`CommonStockSharesOutstanding`	74.67M	shares	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$2.80M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$2.69M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$671.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$630.00K	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$3.52M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$3.35M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$497.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$532.00K	USD	Point-in-time
Total assets	`Assets`	$54.06M	USD	Point-in-time
Total assets	`Assets`	$53.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.95M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.61M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.34M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$697.00K	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`	$17.00K	USD	Point-in-time
Customer deposits	`DeferredIncomeCurrent`	$157.00K	USD	Point-in-time
Customer deposits	`DeferredIncomeCurrent`	$148.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.42M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$3.96M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$3.96M	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$3.35M	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$3.54M	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$22.00K	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$20.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$25.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.75M	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value; authorized 150,000 shares; 74,666 shares and 74,567 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$74.00K	USD	Point-in-time
Common stock, $0.001 par value; authorized 150,000 shares; 74,666 shares and 74,567 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$74.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$214.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$215.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-187.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-185.49M	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	$-3.00K	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.02M	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`	$53.77M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$54.06M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$17.26M	USD	1 Quarter
Sales, net	`Revenues`	$22.56M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$6.73M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$9.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.53M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$8.24M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.87M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.19M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.95M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.26M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$15.49M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.97M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.73M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$66.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-8.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Basic loss per common share attributable to ChromaDex Corporation (in dollars per share)	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Basic loss per common share attributable to ChromaDex Corporation (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Diluted loss per common share attributable to ChromaDex Corporation (in dollars per share)	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Diluted loss per common share attributable to ChromaDex Corporation (in dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	74.80M	shares	1 Quarter
Basic weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	68.31M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	68.31M	shares	1 Quarter
Diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	74.80M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$152.00K	USD	Point-in-time
Net loss attributable to ChromaDex Corporation	`NetIncomeLoss`	$-7.74M	USD	1 Quarter
Net loss attributable to ChromaDex Corporation	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$228.00K	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$201.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$49.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$41.00K	USD	1 Quarter
Amortization of right of use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$299.00K	USD	1 Quarter
Amortization of right of use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$171.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.27M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.89M	USD	1 Quarter
Provision for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$10.00K	USD	1 Quarter
Provision for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$316.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$-18.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$-21.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$1.08M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$1.09M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.77M	USD	1 Quarter
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	$114.00K	USD	1 Quarter
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	$27.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-616.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-643.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-728.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.27M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.65M	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInDeferredRevenue`	$-18.00K	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInDeferredRevenue`	$-6.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-39.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-169.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.20M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.79M	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$91.00K	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-91.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$1.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$3.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.23M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.70M	USD	1 Quarter
Cash and cash equivalents, including restricted cash of $152 for both periods - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.99M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.14M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.99M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.22M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.14M	USD	Point-in-time
Cash and cash equivalents, including restricted cash of $152 for both periods - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.44M	USD	Point-in-time
Cash payments for principal on operating lease liabilities	`OperatingLeasePayments`	$180.00K	USD	1 Quarter
Cash payments for principal on operating lease liabilities	`OperatingLeasePayments`	$58.00K	USD	1 Quarter
Stockholders' equity attributable to parent	`StockholdersEquity`	$25.88M	USD	Point-in-time
Stockholders' equity attributable to parent	`StockholdersEquity`	$28.02M	USD	Point-in-time
Stockholders' equity attributable to parent	`StockholdersEquity`	$28.67M	USD	Point-in-time
Stockholders' equity attributable to parent	`StockholdersEquity`	$31.73M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$25.88M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$28.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$28.67M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$31.73M	USD	Point-in-time
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.89M	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.27M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00K	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$25.88M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$28.02M	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.