10-Q Filing

Niagen Bioscience, Inc. CIK: 1386570 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-005723`
Period End Date	20200331
Filing Date	20200518
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	cdxc-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 26 Cash Flow Statement 69 Stockholders Equity 14

Balance Sheet 69 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
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$100.00K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.80M	USD	Point-in-time
Receivables from related party	`DueFromRelatedParties`	$800.00K	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$19.33M	USD	Point-in-time
Receivables from related party	`DueFromRelatedParties`	$500.00K	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$22.62M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$13.61M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`Cash`	$18.81M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net of allowances of $0.1 million and $2.8 million, respectively; receivables from related party: $0.5 million and $0.8 million, respectively	`AccountsReceivableNetCurrent`	$3.56M	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net of allowances of $0.1 million and $2.8 million, respectively; receivables from related party: $0.5 million and $0.8 million, respectively	`AccountsReceivableNetCurrent`	$2.17M	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	150,000.00	shares	Point-in-time
Inventories	`InventoryNet`	$11.54M	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	150,000.00	shares	Point-in-time
Inventories	`InventoryNet`	$11.28M	USD	Point-in-time
Common stock, shares, issued (in thousands)	`CommonStockSharesIssued`	59,605.00	shares	Point-in-time
Common stock, shares, issued (in thousands)	`CommonStockSharesIssued`	59,562.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$701.00K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$996.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.52M	USD	Point-in-time
Common stock, shares, outstanding (in thousands)	`CommonStockSharesOutstanding`	59,605.00	shares	Point-in-time
Common stock, shares, outstanding (in thousands)	`CommonStockSharesOutstanding`	59,562.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$29.15M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentNet`	$3.61M	USD	Point-in-time
Leasehold improvements and equipment, net	`PropertyPlantAndEquipmentNet`	$3.77M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.25M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.31M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$799.00K	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$891.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$762.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$802.00K	USD	Point-in-time
Total assets	`Assets`	$40.25M	USD	Point-in-time
Total assets	`Assets`	$35.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.25M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.42M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$614.00K	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$595.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$258.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$206.00K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$169.00K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$238.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.06M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.87M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.87M	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$848.00K	USD	Point-in-time
Operating lease obligations, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$687.00K	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$18.00K	USD	Point-in-time
Finance lease obligations, less current maturities	`FinanceLeaseLiabilityNoncurrent`	$36.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.80M	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2020 59,605 shares and December 31, 2019 59,562 shares	`CommonStockValue`	$60.00K	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2020 59,605 shares and December 31, 2019 59,562 shares	`CommonStockValue`	$60.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$144.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$142.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-127.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.45M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$35.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$40.25M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$10.05M	USD	1 Quarter
Sales, net	`Revenues`	$14.35M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.75M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$6.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.31M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.45M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.17M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$919.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.17M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.84M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.33M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$14.20M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$13.67M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.37M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.89M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$35.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-12.00K	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Nonoperating income (expense)	`NonoperatingIncomeExpense`	$35.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.34M	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	1 Quarter
Basic and diluted weighted average common shares outstanding (in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55,325.00	shares	1 Quarter
Basic and diluted weighted average common shares outstanding (in thousands)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	59,782.00	shares	1 Quarter

Cash Flow Statement 69 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
Restricted cash	`RestrictedCash`	$200.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-5.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.34M	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$214.00K	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$173.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$61.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$62.00K	USD	1 Quarter
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$92.00K	USD	1 Quarter
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$138.00K	USD	1 Quarter
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$2.03M	USD	1 Quarter
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$1.87M	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$-2.71M	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$5.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$-23.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$-1.33M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInReceivables`	$956.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$16.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-255.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$421.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$140.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-252.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$206.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$833.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$279.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.96M	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$88.00K	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$69.00K	USD	1 Quarter
Principal payments on operating leases	`OperatingLeasePaymentsUse`	$119.00K	USD	1 Quarter
Principal payments on operating leases	`OperatingLeasePaymentsUse`	$143.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.22M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.05M	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$239.00K	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.00K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$10.00K	USD	1 Quarter
Investment in other long-term assets	`PaymentsToAcquireInvestments`	$47.00K	USD	1 Quarter
Investment in other long-term assets	`PaymentsToAcquireInvestments`	$5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-296.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$132.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$107.00K	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt issuance cost	`PaymentsOfDebtIssuanceCosts`	$15.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$80.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$52.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$55.00K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.20M	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.29M	USD	1 Quarter
Cash, beginning of period, including restricted cash of $0.2 million for both 2020 and 2019	`Cash`	$19.33M	USD	Point-in-time
Cash, beginning of period, including restricted cash of $0.2 million for both 2020 and 2019	`Cash`	$22.62M	USD	Point-in-time
Cash, beginning of period, including restricted cash of $0.2 million for both 2020 and 2019	`Cash`	$13.61M	USD	Point-in-time
Cash, beginning of period, including restricted cash of $0.2 million for both 2020 and 2019	`Cash`	$18.81M	USD	Point-in-time
Cash, ending of period, including restricted cash $0.2 million for both 2020 and 2019	`Cash`	$19.33M	USD	Point-in-time
Cash, ending of period, including restricted cash $0.2 million for both 2020 and 2019	`Cash`	$22.62M	USD	Point-in-time
Cash, ending of period, including restricted cash $0.2 million for both 2020 and 2019	`Cash`	$13.61M	USD	Point-in-time
Cash, ending of period, including restricted cash $0.2 million for both 2020 and 2019	`Cash`	$18.81M	USD	Point-in-time
Cash payments for interest on finance leases	`InterestPaidNet`	$6.00K	USD	1 Quarter
Cash payments for interest on finance leases	`InterestPaidNet`	$7.00K	USD	1 Quarter
Financing lease obligation incurred for purchase of computer equipment	`FinancingLeaseObligationIncurredForPurchaseOfComputerEquipment`	-	USD	1 Quarter
Financing lease obligation incurred for purchase of computer equipment	`FinancingLeaseObligationIncurredForPurchaseOfComputerEquipment`	$47.00K	USD	1 Quarter
Operating lease obligation incurred for tenant improvement credit received	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$64.00K	USD	1 Quarter
Operating lease obligation incurred for tenant improvement credit received	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$20.98M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$20.45M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$16.55M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$27.18M	USD	Point-in-time
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$107.00K	USD	1 Quarter
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$132.00K	USD	1 Quarter
Share-based compensation, amount	`ShareBasedCompensation`	$2.03M	USD	1 Quarter
Share-based compensation, amount	`ShareBasedCompensation`	$1.87M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.90M	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`	$20.45M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$16.55M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$27.18M	USD	Point-in-time

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