ChromaDex Corporation Reports 2020 Financial Results Revenue for the Three-Month Period Ended

ChromaDex Corporation Reports 2020 Financial Results

Revenue for the Three-Month Period Ended December 31, 2020 Totals

$15.4 Million, up 18% Year-over-Year, with

Gross Margin of 61.0%, and Lower Operating Expenses. Full Year

Revenue of $59.3 Million, with $47.1 Million from Tru

LOS ANGELES, March 10, 2021 (GLOBE NEWSWIRE) - ChromaDex Corp. (NASDAQ:CDXC)

reported fourth quarter and full year 2020 financial

Fourth Quarter 2020 and Recent Highlights

Total net sales of $15.4 million, up 18% from $13.1 million in the

Tru Niagen net sales of $12.3 million, a 21% increase from

the year ago quarter.

Gross margin of 61.0%, a 400 basis point increase from the year ago

Net loss was ($6.1) million or ($0.10) per share, an improvement of

$0.05 per share year-over-year.

excluding total legal expense, a non-GAAP measure, was a loss of

($1.1) million, a $1.0 million improvement

clinical research suggests that nicotinamide riboside

( NR ) may support important areas of human

study showed a reduction in liver fat and inflammatory markers in

patients with non-alcoholic fatty liver disease (NAFLD) when

receiving a nutritional protocol that included NR.

study on 300 patients in Turkey with mild-to-moderate COVID-19

showed a 3.5 day reduction in recovery time when adding a daily

nutritional protocol that included NR to the local standard of

Most Favourite Brand' award by Watsons Hong Kong

loyalty members for the second consecutive year.

Full Year 2020 Highlights

Delivered on financial outlook to investors across all metrics.

Slightly better than target on selling and marketing and G&A

Total net sales of $59.3 million, up 28% from $46.3 million in the

Tru Niagen net sales of

$47.1 million, a 31% increase from $36.1 million in the prior

Gross margins of 59.5%, a 390 basis point increase from the prior

Lower selling and marketing expense as a percentage of net sales

(35.4% in 2020 versus 39.4% in 2019).

Net loss was ($19.9) million or ($0.33) per share, an improvement

of $0.24 per share year-over-year.

excluding total legal expense, a non-GAAP measure, was a loss of

($1.0) million for FY 2020, a $7.8 million improvement

Signed 225th material

transfer agreement through ChromaDex External Research Program

(CERP), which has resulted in 60 published studies to date,

including 11 published clinical studies, on

Expanded in Europe and Australia, following regulatory approval for

Nestl Health Science's new Celltrient Cellular

Energy products featuring Tru Niagen launched in the

United States, following the launch of Tru Niagen capsules on

Persona, a Nestl Health Science company and leading

personalized vitamin subscription program, earlier this

Scientific Advisor, Dr. Charles Brenner, Receives 2020 National

Scientific Achievement Award from the American Society for

philosophy of focusing on business fundamentals with a

science-based strategic approach continued in 2020, said

ChromaDex CEO Rob Fried. In 2021, we will further our

position as the world's leading NAD+ company by

growing the Tru Niagen brand, extending partnerships and furthering

scientific advancements with world-leading

Results of operations for the three months ended December 31,

three months ended December 31, 2020 ( Q4 2020 ),

ChromaDex reported net sales of $15.4 million, up 18% compared to

$13.1 million in the fourth quarter of 2019 ("Q4 2019"). The

increase in Q4 2020 revenues was driven by growth in sales of Tru

Niagen and Niagen ingredient

margin percentage improved by 400 basis points to 61.0% in Q4 2020

compared to 57.0% in Q4 2019. The improvement in gross margin

percentage was driven by the positive impact of increased Tru

product sales and product cost savings initiatives.

expenses decreased by $0.8 million to $15.5 million in Q4 2020,

compared to $16.3 million in Q4 2019. The decrease in operating

expenses was driven by a decrease of $1.9 million in general and

administrative expense, and a decrease of $0.1 million of R&D

expense, partially offset by $1.2 million of higher selling and

marketing expenses. The decrease in general and administrative

expense was driven by the absence of $2.2 million of bad debt

expense related to the write-off of an Elysium receivable in Q4

loss for Q4 2020 was ($6.1) million or ($0.10) per share as

reported compared to a net loss of ($8.9) million or ($0.15) per

share for Q4 2019 as reported. Non-GAAP net loss per share in Q4

2019 was ($0.11) excluding a $2.2 million, or $0.04 per share,

non-cash charge related to the write-off of the Elysium receivable

EBITDA excluding total legal expense, a non-GAAP measure, was a

loss of ($1.1) million for Q4 2020, compared to a loss of ($2.1)

million for Q4 2019, a $1.0 million improvement.

defines Adjusted EBITDA excluding total legal expense as net income

or (loss) which is adjusted for interest, income tax, depreciation,

amortization, non-cash stock compensation costs, severance and

restructuring expense, bad debt expense related to Elysium Health

and total legal expense.

2020, the net cash flow from operating activities was at

break-even, versus ($0.6) million used in Q4 2019.

Results of operations for the year ended December 31,

full year ended December 31, 2020 ( FY 2020 ),

ChromaDex reported net sales of $59.3 million, up 28% compared to

$46.3 million in the full year ended December 31, 2019 ("FY 2019").

The increase in FY 2019 revenues was driven by growth in sales of

margin percentage improved by 390 basis points to 59.5% in FY 2020

compared to 55.7% in FY 2019. The improvement in gross margin

percentage was driven by the positive impact of increased Tru

product sales and product cost savings initiatives.

expenses decreased by $1.9 million to $55.1 million in FY 2020,