10-Q Filing

Niagen Bioscience, Inc. CIK: 1386570 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-005211`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	cdxc_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 62 Stockholders Equity 15

Balance Sheet 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
Trade receivables, allowances	`AllowanceForDoubtfulOtherReceivablesCurrent`	$200.00K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulOtherReceivablesCurrent`	$200.00K	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`CashAndCashEquivalentsAtCarryingValue`	$44.69M	USD	Point-in-time
Receivables from related party, Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$900.00K	USD	Point-in-time
Receivables from related party, Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.30M	USD	Point-in-time
Cash, including restricted cash of $0.2 million and $0.2 million, respectively	`CashAndCashEquivalentsAtCarryingValue`	$16.70M	USD	Point-in-time
Trade receivables, net of allowances of $0.2 million and $0.2 million, respectively; Receivables from Related Party: $1.3 million and $0.9 million, respectively	`TradeReceivablesNetOfAllowances`	$4.65M	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
Trade receivables, net of allowances of $0.2 million and $0.2 million, respectively; Receivables from Related Party: $1.3 million and $0.9 million, respectively	`TradeReceivablesNetOfAllowances`	$2.69M	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Inventories	`InventoryNet`	$11.68M	USD	Point-in-time
Inventories	`InventoryNet`	$12.76M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$1.12M	USD	Point-in-time
Common stock, shares, issued (in thousands)	`CommonStockSharesIssued`	61.88M	shares	Point-in-time
Common stock, shares, issued (in thousands)	`CommonStockSharesIssued`	67.70M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$1.15M	USD	Point-in-time
Common stock, shares, outstanding (in thousands)	`CommonStockSharesOutstanding`	61.88M	shares	Point-in-time
Common stock, shares, outstanding (in thousands)	`CommonStockSharesOutstanding`	67.70M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$32.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.22M	USD	Point-in-time
Leasehold Improvements and Equipment, net	`PropertyPlantAndEquipmentNet`	$3.21M	USD	Point-in-time
Leasehold Improvements and Equipment, net	`PropertyPlantAndEquipmentNet`	$3.06M	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.08M	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.02M	USD	Point-in-time
Right of Use Assets	`OperatingLeaseRightOfUseAsset`	$1.23M	USD	Point-in-time
Right of Use Assets	`OperatingLeaseRightOfUseAsset`	$1.10M	USD	Point-in-time
Other Long-term Assets	`OtherAssetsNoncurrent`	$625.00K	USD	Point-in-time
Other Long-term Assets	`OtherAssetsNoncurrent`	$594.00K	USD	Point-in-time
Total assets	`Assets`	$68.99M	USD	Point-in-time
Total assets	`Assets`	$38.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.69M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$6.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.33M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$485.00K	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$589.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$19.00K	USD	Point-in-time
Current maturities of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$31.00K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$231.00K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$278.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.76M	USD	Point-in-time
Deferred Revenue	`DeferredRevenueNoncurrent`	$4.44M	USD	Point-in-time
Deferred Revenue	`DeferredRevenueNoncurrent`	$4.44M	USD	Point-in-time
Operating Lease Obligations, Less Current Maturities	`OperatingLeaseLiabilityNoncurrent`	$997.00K	USD	Point-in-time
Operating Lease Obligations, Less Current Maturities	`OperatingLeaseLiabilityNoncurrent`	$947.00K	USD	Point-in-time
Finance Lease Obligations, Less Current Maturities	`FinanceLeaseLiabilityNoncurrent`	$17.00K	USD	Point-in-time
Finance Lease Obligations, Less Current Maturities	`FinanceLeaseLiabilityNoncurrent`	$20.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$21.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.16M	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2021 67,702 shares and December 31, 2020 61,881 shares	`CommonStockValue`	$68.00K	USD	Point-in-time
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding March 31, 2021 67,702 shares and December 31, 2020 61,881 shares	`CommonStockValue`	$62.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$192.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$158.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-149.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-141.82M	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	$-2.00K	USD	Point-in-time
Cumulative translation adjustments	`TranslationAdjustmentFunctionalToReportingCurrencyNetOfTax`	$-3.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$43.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.45M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$68.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.36M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$14.68M	USD	1 Quarter
Sales, net	`Revenues`	$14.35M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$5.45M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$6.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.23M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$4.45M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.26M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$919.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$824.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.51M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.84M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$16.60M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$14.20M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-7.36M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.89M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$19.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$12.00K	USD	1 Quarter
Nonoperating expense	`NonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Nonoperating expense	`NonoperatingIncomeExpense`	$-19.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	59.78M	shares	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	64.16M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$221.00K	USD	1 Quarter
Depreciation of leasehold improvements and equipment	`Depreciation`	$214.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$62.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$92.00K	USD	1 Quarter
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$126.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.87M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.28M	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$14.00K	USD	1 Quarter
Allowance for doubtful trade receivables	`ProvisionForDoubtfulAccounts`	$-2.71M	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$23.00K	USD	1 Quarter
Non-cash financing costs	`OtherNoncashIncomeExpense`	$28.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$1.33M	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$-1.97M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$255.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.08M	USD	1 Quarter
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	-	USD	1 Quarter
Implementation costs for cloud computing arrangement	`ImplementationCostsForCloudComputingArrangement`	$-28.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$252.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$74.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.25M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.20M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$833.00K	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$-47.00K	USD	1 Quarter
Customer deposits and other	`IncreaseDecreaseInCustomerDeposits`	$69.00K	USD	1 Quarter
Principal payments on operating leases	`IncreaseDecreaseInPrincipalPaymentsOnOperatingLeases`	$-143.00K	USD	1 Quarter
Principal payments on operating leases	`IncreaseDecreaseInPrincipalPaymentsOnOperatingLeases`	$-154.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.41M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.22M	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$-15.00K	USD	1 Quarter
Purchases of leasehold improvements and equipment	`PurchasesOfLeaseholdImprovementsAndEquipment`	$-46.00K	USD	1 Quarter
Investment in other long-term assets	`InvestmentInOtherLongTermAssets`	-	USD	1 Quarter
Investment in other long-term assets	`InvestmentInOtherLongTermAssets`	$-5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.00K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$24.87M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$132.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.63M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$15.00K	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$44.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$80.00K	USD	1 Quarter
Principal payments on finance leases	`FinanceLeasePrincipalPayments`	$15.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.45M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.99M	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.20M	USD	1 Quarter
Cash Beginning of Period, including restricted cash of $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.81M	USD	Point-in-time
Cash Beginning of Period, including restricted cash of $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.70M	USD	Point-in-time
Cash Beginning of Period, including restricted cash of $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.69M	USD	Point-in-time
Cash Beginning of Period, including restricted cash of $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.61M	USD	Point-in-time
Cash Ending of Period, including restricted cash $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.81M	USD	Point-in-time
Cash Ending of Period, including restricted cash $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.70M	USD	Point-in-time
Cash Ending of Period, including restricted cash $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.69M	USD	Point-in-time
Cash Ending of Period, including restricted cash $0.2 million for both 2021 and 2020	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.61M	USD	Point-in-time
Cash payments for interest on finance leases	`InterestPaidNet`	$1.00K	USD	1 Quarter
Cash payments for interest on finance leases	`InterestPaidNet`	$6.00K	USD	1 Quarter
Financing lease obligation incurred for purchase of computer equipment and software	`FinancingLeaseObligationIncurredForPurchaseOfComputerEquipmentAndSoftware`	$47.00K	USD	1 Quarter
Financing lease obligation incurred for purchase of computer equipment and software	`FinancingLeaseObligationIncurredForPurchaseOfComputerEquipmentAndSoftware`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$16.55M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$43.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$16.42M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$20.45M	USD	Point-in-time
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$132.00K	USD	1 Quarter
Exercise of stock options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$8.63M	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.87M	USD	1 Quarter
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.28M	USD	1 Quarter
Net loss	`ProfitLoss`	$-7.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-5.90M	USD	1 Quarter
Issuance of common stock, net of offering costs of $0.1 million, amount	`IssuanceOfCommonStockNetOfOfferingCostsAmount`	$24.87M	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$16.55M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$43.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$16.42M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$20.45M	USD	Point-in-time

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