Niagen Bioscience Reports 30% Year-Over-Year Net Sales Increase to $129.4 million, 103% Net Income Increase to $17.4 million or $0.22 Basic EPS in 2025

Net sales increased 30% year-over-year to $129.4 million in 2025Gross margin increased 250 bps year-over-year to 64.3% in 2025Net income increased 103% year-over-year to $17.4 million in 2025Adjusted EBITDA increased 139% year-over-year to $20.4 million in 2025Cash and cash equivalents totaled $64.8 million at December 31, 2025 compared to $44.7 million at December 31, 2024Full year 2026 net sales outlook reflects between 10-15% growth, excluding the recently sold reference standards segment

LOS ANGELES--(BUSINESS WIRE)--$NAGE#Biotech--Niagen Bioscience, Inc. (NASDAQ:NAGE) today announced its fourth quarter and fiscal year 2025 financial results.

Fourth Quarter 2025 Financial Highlights Compared to Prior Year Quarter

Full Year 2025 Financial Highlights Compared to Prior Year

Recent Operational Highlights

“Niagen Bioscience delivered net sales of $33.8 million for the fourth quarter of 2025, representing a 16% increase compared to the prior year period, and generated net income of $4.1 million. For the full year, net sales were $129.4 million, an increase of 30% year-over-year, with net income of $17.4 million and operating cash flow of $13.5 million,” said Rob Fried, Niagen Bioscience Chief Executive Officer. “We ended the year with $64.8 million in cash, providing a strong financial foundation to support continued investment in our strategic priorities and growth.”

Results of operations for the three months ended December 31, 2025 compared to the prior year quarter

Net Salesfor Niagen Bioscience increased 16%, or $4.7 million, to $33.8 million. Net sales growth was driven by a $4.8 million increase in Tru Niagen® sales, largely attributed to e-commerce growth, partially offset by lower ingredient sales.

Gross Marginimproved 160 basis points to 64.1% driven by the sale of lower-cost inventory and improved labor and overhead utilization on higher sales volume.

Operating Expense, netincreased 59%, or $6.5 million, to $17.6 million.

Net Incomewas $4.1 million compared to $7.2 million for the fourth quarter of 2024, primarily driven by elevated operating expenses in the current year quarter, as the prior year quarter included benefits that exceeded the $2.0 million gain recognized in the current quarter.

Basic and Diluted Earnings Per Sharewere $0.05 and $0.05, respectively, compared to $0.09 for both basic and diluted earnings per share in the prior year quarter.

Adjusted EBITDA, a non-GAAP measure, was $4.1 million, an increase of $0.7 million from $3.4 million for the fourth quarter of 2024. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of non-GAAP Adjusted EBITDA to net income, the most directly comparable GAAP measure.

Results of operations for the year ended December 31, 2025 compared to the prior year

Net Salesfor Niagen Bioscience increased 30%, or $29.8 million, to $129.4 million. Net sales growth was driven by $20.9 million increase in Tru Niagen® sales and $8.9 million increase in ingredient sales, largely from food-grade Niagen®.

Gross Marginimproved 250 basis points to 64.3%, driven by favorable product mix, the sale of lower-cost inventory, and improved labor and overhead utilization on higher sales volume.

Operating Expense, netincreased 24%, or $13.1 million, to $66.9 million.

Net Incomewas $17.4 million compared to $8.6 million for fiscal year 2024.

Basic and Diluted Earnings Per Sharewere $0.22 and $0.20, respectively, compared to a $0.11 for both basic and diluted earnings per share in the prior year.

Adjusted EBITDA, a non-GAAP measure, was $20.4 million, an increase of $11.9 million compared to $8.5 million for fiscal year 2024. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of non-GAAP Adjusted EBITDA to net income, the most directly comparable GAAP measure.

Cash Flow from Operating Activitieshad a net cash inflow of $13.5 million, compared to $12.1 million for fiscal year 2024 driven by improvements in net income, largely offset by increased investment in working capital, including higher inventory levels to support business growth.

Cash and cash equivalentstotaled $64.8 million at December 31, 2025, compared to $44.7 million at December 31, 2024.

2026 Outlook

Investor Conference Call

A live webcast will be held Wednesday, March 4, 2026 at 4:30 p.m. Eastern Standard Time (1:30 p.m. Pacific Standard Time) to discuss Niagen Bioscience’s fourth quarter and fiscal year 2025 financial results and provide a general business update.

To listen to the webcast, or to view the earnings press release and its accompanying financial exhibits, please visit the Investor Relations section of Niagen Bioscience’s website athttps://investors.niagenbioscience.com. The toll-free dial-in information for this call is 1-800-715-9871 with Conference ID: 8584242.

The webcast will be recorded, and will be available for replay via the website from 7:30 p.m. Eastern Standard Time on March 4, 2026 to 11:59 p.m. Eastern Daylight Time on March 11, 2026. The replay of the call can also be accessed by dialing 1-800-770-2030, using the Replay ID: 8584242 followed by the # key.

Important Note on Forward Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects,” “anticipates,” “intends” “estimates,” “plans,” “potential,” “possible,” “probable,” “believes” “seeks,” “may,” “will,” “should,” “could,” “predicts,” “projects,” “continue,” “would” or the negative of such terms or other similar expressions. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the quotation from Niagen Bioscience’s Chief Executive Officer, statements related to the Company’s 2026 financial outlook including but not limited to revenue growth, gross margin, expenses, and investment plans.

Risks that contribute to the uncertain nature of the forward-looking statements include: our relationships with major customers; a decline in general economic conditions nationally and internationally; the market and size of the vitamin mineral and dietary supplement market and the intravenous market; decreased demand for our products and services; market acceptance of our products; the ability to protect our intellectual property rights; impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; our ability to develop pharmaceutical business; inability to raise capital to fund continuing operations or new product development; changes in government regulation or regulatory priorities of government officials; the ability to complete customer transactions and capital raising transactions; inflationary conditions and adverse economic conditions; our history of operating losses; the growth and profitability of our product sales; our ability to maintain and grow sales, marketing and distribution capabilities; changing consumer perceptions of our products; our reliance on a single or limited number of third-party suppliers; risks of conducting business in China; unanticipated developments in and risks related to the Company’s ability to secure adequate quantities of pharmaceutical-grade Niagen in a timely manner; the Company’s ability to obtain appropriate contracts and arrangements with U.S. FDA-registered 503B outsourcing facilities required to compound and distribute pharmaceutical-grade Niagen to clinics; the Company’s ability to remain on the U.S. FDA Bulk Drug Substances Nominated for Use in Compounding Under Section 503B of the Federal Food, Drug, and Cosmetic Act Category 1 list; the Company’s ability to maintain and enforce the Company’s existing intellectual property and obtain new patents; whether the potential benefits of NRC can be further supported; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials; determinations made by the FDA and other governmental authorities, including with respect to products seeking to compete in our market; mislabeling or other misleading marketing practices by competitors; economic and market instability, including as a result of tariffs or trade conflicts; and the risks and uncertainties associated with our business and financial condition in general, described in our filings with the Securities and Exchange Commission (SEC), including, without limitation, our most recent Annual Report on Form 10-K as filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and Niagen Bioscience undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

About Niagen Bioscience, Inc.:

Niagen Bioscience is a global bioscience company dedicated to healthy aging. The Niagen Bioscience team, which includes world-renowned scientists, is pioneering research on NAD+ (nicotinamide adenine dinucleotide), an vital coenzyme found in every cell of the human body. NAD+ levels decline with age and exposure to everyday lifestyle stressors, among other factors, and may be increased through supplementation with NAD+ precursors. Niagen Bioscience is the innovator behind the NAD+ precursor nicotinamide riboside chloride (“NRC” or “NRCL”, commonly referred to as “NR”), commercialized as the flagship ingredient Niagen®, available in both food and pharmaceutical grades. Nicotinamide riboside chloride and other NAD+ precursors are protected by Niagen Bioscience’s patent portfolio.

The Company delivers Niagen® as the sole or principal dietary ingredient in its consumer product line Tru Niagen® available atwww.TruNiagen.comand through partnerships with global retailers and distributors. The Company also develops and commercializes proprietary-based ingredient technologies, including food-grade Niagen® and pharmaceutical-grade Niagen®, and supplies these ingredients as raw materials to the manufacturers of consumer products and U.S. FDA-registered 503B outsourcing facilities, respectively. The Company further offers natural product fine chemicals, known as phytochemicals, and related research and development services. Follow us on X @NiagenBio and Instagram @NiagenBioscience, @TruNiagen, and @NiagenPlus and subscribe to our latest news via our website accessible atwww.NiagenBioscience.comto which Niagen Bioscience regularly posts copies of its press releases as well as additional updates and financial information about the Company.