Niagen Bioscience, Inc.

Ladies and gentlemen, thank you for standing by and welcome to Niagen Biosciences Inc's second quarter of 2025 earnings conference call. My name is JL and I will be your conference operator today. At this time all participants are in a listen-only mode and as a reminder this conference call is being recorded. This afternoon Niagen Biosciences issued a news release announcing the company's financial results for the second quarter of 2025. If you have not reviewed this information, Both are available within the investor relations section of Niogen Bioscience's website at www.niogenbioscience.com. I would now like to turn the conference call over to Kendall, Senior Director of Publicity and Public Relations. Please go ahead.

Thank you. Good afternoon, and welcome to Niogen Bioscience, Inc. second quarter of 2025 conference call. With us today are Niagen Biosciences Chief Executive Officer Rob Fried, Chief Financial Officer Ozan Pamir, and Senior Vice President of Scientific and Regulatory Affairs, Dr. Andrew Hsiao. Dr. Hsiao will join the call for Q&A. Today's conference call may include forward-looking statements, including statements related to the company'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 operation. 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 Niagen Biosciences actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These risk factors include those contained in Niagen Bioscience's quarterly report on Form 10Q most recently filed with the SEC, including results of operations, financial condition, cash flows, as well as global market 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 to conform with the forward-looking statements, actual results, or to changes in its expectations. In addition, certain financial information presented in this call references 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 reconciliations to the appropriate gap 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.niagenbioscience.com. With that, it is now my pleasure to turn the call over to our Chief Executive Officer, Ron Freed.

Thank you, Kendall. Good afternoon, everyone, and thank you for joining us on today's investor call. For the second quarter, I'm pleased to share that we delivered yet another record performance with $31.1 million in revenue, a 37% increase year over year, and net income of $3.6 million compared to virtually break-even a year ago. We ended the quarter with $60.5 million in cash and no debt. Our e-commerce business remains the largest component of our business, with net sales of $18.1 million, a 39% increase year over year. Our food grade and pharmaceutical grade nitrogen ingredient business grew 135% year over year, with $7.4 million in revenue in the second quarter. Since launching last August, Niagen Plus continues to be a strategic focus of the company. As of today, we've onboarded over 800 wellness clinics nationwide to offer our Niagen Plus product line, which includes Niagen intravenous and Niagen injections. As the clinic's adoption continues to grow, we are seeing increased interest in the Niagen Plus injections. To build on this trend, Wells Pharmacy Network, our compound pharmacy partner, is launching an at-home injection kit. by the end of the year. We are exploring adding telehealth functionality to our website as a way for our valued customers to access Niagen Plus from our website. While the demand for Niagen Plus continues to grow, we are seeing increased scrutiny from the state of California around 503 outsourcing facility practices. Wells Pharmacy Network remains a partner for us to maintain a network nationwide, and we expect that to continue as our partnership grows the Niagen Plus business. The buzz around Niagen is strong and growing. We've been featured in the last quarter In major media outlets, including Business Insider, People Magazine, Vogue, LA Times, New York Post, US News and World Report, Everyday Health, Elle, Allure. We've been featured in top podcasts, including the All In podcast, Call Her Daddy podcast, and just this past weekend with Theo Vaughn. People are starting to realize that NAD is important for their health, especially as they age. But that by far the best, most tested, most trusted, legal, patented way to elevate NAD is with Niagen. And that Niagen bioscience is the gold standard in the NAD space. If it doesn't say Niagen, I would recommend you save your money. Niagen has also had a strong presence at major events and with some important influencers. We partner with some of our clinics to administer Niagen Plus IVs and injections. We attended the Miami Grand Prix Formula One event, and we gave out in partnership with our friends at the All In podcast to many attendees of F1, as well as the NFL training camp in Miami and the Sports Front Office Forum in Santa Monica. We attended Cannes Lyon Festival of Creativity. where we were featured on the panel discussion and we did an interview with the LA Times. We also administered IV and injections at an event hosted by Gary Vaynerchuk, two attendees at Cannes. We attended the Longevity Leadership Conference, which is a gathering of leaders and innovators in the longevity space and gave out some IVs and injections. We attended the Aflatech Innovation Summit, an event featuring wellness fitness leaders and periodically we go to the Allo Gym events in partnership with Allo Yoga and give out IVs and injections to influencers. We also have visited the homes and offices of numerous athletes and celebrities and rock musicians before they go on tour or before they perform or before they play. People are becoming very aware of Niagen in general, not just true Niagen but also the efficacy of injections and IV. and it is growing in popularity. And the reason for that is because we have the best product in the market, and we continue to represent the highest standard in NAD science, and we represent authenticity, transparency, and scientific innovation in the dietary supplement industry in general. We're consistently recognized by the industry, by trade associations, by third-party testers, the gold standard in the space and one of the very very few truly trusted brands that does the research does the science goes through the proper channels with the FDA and the FTC and Deliver something that actually works We also do many many actual clinical high-impact factor peer-reviewed published studies For example in the United States It is estimated that between 10 and 15 people are actively experiencing symptoms from what is known as long COVID, with a subset of this population reporting that symptoms significantly limit their daily activities. These are symptoms like fatigue and sleep problems and depression. A study conducted by Harvard University examined the effect of NR supplementation on reducing fatigue addressing these depressive symptoms, sleep quality, cognition. This study was completed recently and is currently going through the peer review publication process. There's also another long COVID study conducted in Norway as well, a slightly larger study, but the participants in that are slightly different. Their definition of long COVID differs slightly from the one at Harvard and here in the U.S., But we're looking forward to the results of those studies, and we will make them known to you when they are published. A notable article recently discussed the potential benefits of NAD supplementation and cellular health on fertility. Well, there's limited research on the effects of NAD modulation for fertility to date. We recognize but this is an important area of opportunity, and we're currently working with independent investigators through our external research program on a study looking at the potential for NR to support fertility and reproductive health. We understand that these egg cells, oocytes, have NAD as well, and at a certain point in the life cycle of these cells, the NAD becomes depleted, and the cells become less fertile, less healthy, and there might be an opportunity to elongate, lengthen the fertility clock by elevating NAD levels in these cells. Last month, we announced that the company entered into a worldwide exclusive license agreement with the Haukeland University Hospital in Bergen, Norway. This arrangement grants the company exclusive rights to develop and commercialize its patented nicotinamide riboside molecule as a potential pharmaceutical therapy for Parkinson's disease or to sub-license the program to a strategic pharmaceutical partner. Partnership also provides the company exclusive access to the data resulting from this no-par clinical trial and data from previous related studies as well. This marks a meaningful step forward in Nitrogen Biosciences' pursuit of pharmaceutical applications of NR to benefit patients with Parkinson's disease and potentially other neurodegenerative disorders. This phase three no-part clinical trial was completed in June, and we expect the study to be submitted to peer review sometime in October. As it relates to NR for the treatment of ataxia telangiectasia, AT, we're actively engaging with the FDA to get our program ready for an investigational new drug application for the use of NR in the treatment of AT. We continue to have ongoing dialogue with the agency to address its comments and feedback. We hope to have an update later this year. In last quarter's call, I discussed the FDA's pending response to the litigation and citizen's petition related to its determination that NMN is not a lawful dietary ingredient under the Federal Food, Drug, and Cosmetic Act. While the FDA's response has now been delayed until the end of September 2025 due to administrative disruptions, we continue to reaffirm our support of the agency's position, and we believe that the FDA must maintain its stance to ensure consumer safety and regulatory integrity. As I reflect on the progress we've made so far this year, I remain confident that we are well positioned to continue our growth trajectory and advance toward our key strategic goals. I am grateful for the dedication of our leadership and our team and their unwavering commitment to the company's mission to benefit the health and lives of every individual. As the global leader in NAD science, we will continue to reinforce Niagen as the gold standard and the premium solution to age better. I'd now like to hand the call over to Ozan to run through the quarter's financials and then on to Q&A and closing remarks.