Niagen Bioscience, Inc.

Ladies and gentlemen, thank you for standing by and welcome to Chromadex Corporation's fourth quarter of 2024 earnings conference call. My name is Prilla and I will be your conference operator today. At this time, all participants are in the listen-only mode. And as a reminder, this conference call is being recorded. This afternoon, Chromadex issued a news release announcing the company's financial results for the fourth quarter of 2024. If you have not reviewed this information, both are available within the investor relations section of Chromadex website at www.chromadex.com. I would now like to turn the conference over to Ben Shamshan, Vice President of Dayton Partners. Please go ahead, Mr. Shamshan.

Thank you, good afternoon, and welcome to Chromadex Corporation's fourth quarter of 2024 results conference call. With us today are Chromadex's Chief Executive Officer, Rob Fried, Chief Financial Officer, Ozan Pamir, and Senior Vice President of Scientific and Regulatory Affairs, Dr. Andrew Schaaf, who will join the call for Q&A. Today's conference call may include forward-looking statements. including statements related to Chromadex's research and development and clinical trial plans and the timing and results of such trials, the timing of future regulatory filings, the expansion of the sale of Niagen products and ingredients in new markets, business development opportunities, future financial results, cash needs, operating performance, investor interest, and business prospects and opportunities. as well as anticipated results of operations. Forward-looking statements represent only the company's estimates on the date of this conference call and are not intended to give any assurance as to actual future results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could cause Chromadex's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These risk factors include those contained in Chromadex's quarterly reports and Form 10-K most recently filed with the SEC, including results of operations, financial condition, cash flows, as well as impact of global markets and economic conditions on our business. Please note that the company assumes no obligation to update any forward-looking statements after the date of this conference call. We conform with forward-looking statements after results or to changes in its expectations. In addition, certain financial information presented in this call reference non-GAAP financial measures. The company's earnings presentation and earnings press release, which were issued this afternoon, are available on the company's website, present reconciliation to the appropriate measures. Finally, this conference call is being recorded via webcast. The webcast will be available at the investor relations section of our website at www.chromadex.com. With that, it's now my pleasure to turn the call over to our Chief Executive Officer, Rob Fried.

Thank you, Ben, and welcome, everybody. In the fourth quarter, we delivered record revenues of $29.1 million, a 37% increase year over year, and net income of $7.2 million. For the full year, we delivered net revenues of $99.6 million, a 19% growth year over year, and net income of $8.6 million. We generated $12.1 million in positive cash flow from operations in 2024, and we ended the year with $44.7 million in cash and no debt. It appears that the world is finally catching on to the importance of NAD and the fact that Niagen is the safest and most effective way to increase NAD levels, particularly in damaged cells. In the fourth quarter, our e-commerce channel experienced robust organic growth with net sales of 17.3 million, a 30% increase year over year. Our food grade and pharmaceutical grade nitrogen ingredient business had net sales of 5.3 million, a 96% increase year over year. True nitrogen distribution through our strategic partners, partners like Watson's, remained consistently solid. As the demand for NAD boosting products continues to grow, we're seeing a proliferation of companies entering the arena that pursue misleading and dangerous practices. There are companies that knowingly infringe on the hard-earned patents of others. There are companies that make false label claims. Companies who sloppy manufacturing processes introduce dangerous endotoxins. Companies that claim to be science-based. but have never conducted a single study. We're encouraged to see that Amazon and other marketplaces have taken some steps to police this activity. We do hope to see more. We need to see more action taken by the FDA and the FTC to prevent companies from deceiving consumers. And we'd also like to see the experts who give advice on podcasts and newsletters to be more vigilant in screening brands. We plan to use our position as a leader in the industry to drive awareness to consumer safety and product excellence. To be candid, I personally would not take a supplement that did not say Chromadex or Niagen on the label. Last August, we launched our Niagen Plus product line and introduced Niagen IV and injections at clinics. through a compound pharmacy network. The launch started off very strong with pharmaceutical grade ingredient quickly selling out. But due to issues in the supply chain, we were delayed two to three months in pharmaceutical grade availability. We have now since resolved these issues. Today, Niagen IV is available in about 500 clinics nationwide. Niagen IV and Niagen injections are on pace for great growth in the second half of this year. Last year, Chromadex initiated communication with the FDA as part of the company's effort to pursue an investigational new drug application for the use of NR in the treatment of ataxia telangiectasia, AT. We continue to work with the agency to address its comments and its feedback. With regard to the NOPARC study for the use of NR in the treatment of Parkinson's disease, The last participant was enrolled last June, so we expect that the study will be completed by June of this year. We will not be able to see results for some time thereafter, but we very much look forward to sharing more updates on this and other pharmaceutical plans in the near future. In the coming weeks, we will be making an announcement that we are changing the company's name to better represent the evolution of the company and the strategic direction of the company. This has been a major undertaking internally, and we're excited to finally share the company name. I believe this past year marks an inflection point for this company and that it is the right time to change our name to better align with our mission. In summary, your company is healthy. Your company is growing. and your company is very well positioned for the future. Let's now turn it over to Ozan.