10-Q Filing

Niagen Bioscience, Inc. CIK: 1386570 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-19-005553`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	cdxc-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 26 Cash Flow Statement 74 Stockholders Equity 21

Balance Sheet 80 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, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$500.00K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$500.00K	USD	Point-in-time
Receivables from related party	`DueFromRelatedParties`	$1.00M	USD	Point-in-time
Receivables from related party	`DueFromRelatedParties`	$700.00K	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$45.39M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$41.04M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$19.33M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$22.62M	USD	Point-in-time
Receivables held in escrow, allowances	`AllowanceForDoubtfulEscrowReceivableCurrent`	$100.00K	USD	Point-in-time
Receivables held in escrow, allowances	`AllowanceForDoubtfulEscrowReceivableCurrent`	$100.00K	USD	Point-in-time
Trade receivables, net of allowances of $0.5 million and $0.5 million, respectively; receivables from related party: $1.0 million and $0.7 million, respectively	`AccountsReceivableNetCurrent`	$4.36M	USD	Point-in-time
Trade receivables, net of allowances of $0.5 million and $0.5 million, respectively; receivables from related party: $1.0 million and $0.7 million, respectively	`AccountsReceivableNetCurrent`	$5.31M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$72.00K	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$56.00K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150,000.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150,000.00	shares	Point-in-time
Receivable held at escrow, net of allowance of $0.1 million	`ReceivableHeldAtEscrow`	$677.00K	USD	Point-in-time
Receivable held at escrow, net of allowance of $0.1 million	`ReceivableHeldAtEscrow`	$677.00K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	55,089.00	shares	Point-in-time
Inventories	`InventoryNet`	$8.25M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	55,321.00	shares	Point-in-time
Inventories	`InventoryNet`	$8.67M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	55,089.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$721.00K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$577.00K	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	55,321.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$36.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.78M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentNet`	$3.58M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentNet`	$3.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.55M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.50M	USD	Point-in-time
Right of use	`LeaseRightOfUseAssetNoncurrent`	$1.33M	USD	Point-in-time
Right of use	`LeaseRightOfUseAssetNoncurrent`	-	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$607.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$566.00K	USD	Point-in-time
Total assets	`Assets`	$42.23M	USD	Point-in-time
Total assets	`Assets`	$41.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.55M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.59M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.31M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$675.00K	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$173.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$164.00K	USD	Point-in-time
Contract liabilities and customer deposits	`CustomerAdvancesAndDeposits`	$363.00K	USD	Point-in-time
Contract liabilities and customer deposits	`CustomerAdvancesAndDeposits`	$275.00K	USD	Point-in-time
Deferred rent, current	`DeferredRentCreditCurrent`	$131.00K	USD	Point-in-time
Deferred rent, current	`DeferredRentCreditCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.55M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.96M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$1.34M	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$94.00K	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$137.00K	USD	Point-in-time
Deferred rent, less current	`DeferredRentCreditNoncurrent`	$477.00K	USD	Point-in-time
Deferred rent, less current	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$15.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.95M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2019 55,321 shares and December 31, 2018 55,089 shares	`CommonStockValue`	$55.00K	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2019 55,321 shares and December 31, 2018 55,089 shares	`CommonStockValue`	$55.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$119.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$116.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-89.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-98.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$46.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$53.83M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$42.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$41.92M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$6.57M	USD	1 Quarter
Sales, net	`Revenues`	$10.05M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.75M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.27M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.17M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.83M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.33M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$13.67M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$11.54M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.40M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.37M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-44.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$35.00K	USD	1 Quarter
Nonoperating income (expense):	`NonoperatingIncomeExpense`	$35.00K	USD	1 Quarter
Nonoperating income (expense):	`NonoperatingIncomeExpense`	$-44.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-8.44M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-8.34M	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55,325.00	shares	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	54,858.00	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.34M	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$173.00K	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$121.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$61.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$58.00K	USD	1 Quarter
Amortization of right of use assets	`AmortizationOfRightofUseAssets`	-	USD	1 Quarter
Amortization of right of use assets	`AmortizationOfRightofUseAssets`	$138.00K	USD	1 Quarter
Share-based compensation expense	`AllocatedShareBasedCompensationExpense`	$1.26M	USD	1 Quarter
Share-based compensation expense	`AllocatedShareBasedCompensationExpense`	$2.03M	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$-112.00K	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$5.00K	USD	1 Quarter
Loss from disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss from disposal of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$32.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$-956.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$679.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$-16.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$3.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-421.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$733.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-367.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$206.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.14M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$64.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$279.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.96M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$88.00K	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$-4.00K	USD	1 Quarter
Principal payments on operating leases	`OperatingLeasePaymentsUse`	-	USD	1 Quarter
Principal payments on operating leases	`OperatingLeasePaymentsUse`	$-119.00K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	-	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-50.00K	USD	1 Quarter
Due to officer	`IncreaseDecreaseInDueToOfficersAndStockholders`	$-100.00K	USD	1 Quarter
Due to officer	`IncreaseDecreaseInDueToOfficersAndStockholders`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.99M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.05M	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$161.00K	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$239.00K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$10.00K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Investment in other long-term assets	`PaymentsToAcquireInvestments`	$47.00K	USD	1 Quarter
Investment in other long-term assets	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-161.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-296.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$255.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$107.00K	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$-404.00K	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	$6.00K	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$47.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$52.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$55.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-202.00K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.35M	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.29M	USD	1 Quarter
Cash, beginning of period	`Cash`	$45.39M	USD	Point-in-time
Cash, beginning of period	`Cash`	$41.04M	USD	Point-in-time
Cash, beginning of period	`Cash`	$19.33M	USD	Point-in-time
Cash, beginning of period	`Cash`	$22.62M	USD	Point-in-time
Cash, ending of period	`Cash`	$45.39M	USD	Point-in-time
Cash, ending of period	`Cash`	$41.04M	USD	Point-in-time
Cash, ending of period	`Cash`	$19.33M	USD	Point-in-time
Cash, ending of period	`Cash`	$22.62M	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$12.00K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$7.00K	USD	1 Quarter
Adjustment to retained earnings - cumulative effect of initially applying ASC 606	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	-	USD	1 Quarter
Adjustment to retained earnings - cumulative effect of initially applying ASC 606	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	$164.00K	USD	1 Quarter
Operating lease obligation incurred for tenant improvement credit received from landlord	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Operating lease obligation incurred for tenant improvement credit received from landlord	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$64.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$20.98M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$27.18M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$46.66M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$53.83M	USD	Point-in-time
Adjustment to retained earnings: cumulative effect of initially applying ASC 606	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	-	USD	1 Quarter
Adjustment to retained earnings: cumulative effect of initially applying ASC 606	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	$164.00K	USD	1 Quarter
Exercise of stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	57.00	shares	1 Quarter
Exercise of stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	65.00	shares	1 Quarter
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$255.00K	USD	1 Quarter
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$107.00K	USD	1 Quarter
Repurchase of common stock, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	1 Quarter
Repurchase of common stock, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-404.00K	USD	1 Quarter
Vested restricted stock, amount	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Share-based compensation, amount	`ShareBasedCompensation`	$1.26M	USD	1 Quarter
Share-based compensation, amount	`ShareBasedCompensation`	$2.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.34M	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$20.98M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$27.18M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$46.66M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$53.83M	USD	Point-in-time

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