Niagen Bioscience, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to Niagen Bioscience, Inc.' 's fourth quarter of 2025 earnings conference call. My name is Tiffany, and I will be the 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 Bioscience issued a news release announcing the company's financial results for the fourth quarter of 2025. If you have not reviewed this information, both are available within the investor relations section of Niogen Bioscience website at www.niogenbioscience.com. I would now like to turn the conference call over to Kendall Knish, Senior Director of Publicity and Public Relations. Please go ahead, Ms. Knish.

Thank you, good afternoon, and welcome to Niagen Bioscience, Inc.' 's fourth quarter of 2025 results investor call. With us today are Niagen Bioscience's Chief Executive Officer, Rob Fried, Chief Financial Officer, Ozan Pamir, and Senior Vice President of Scientific and Regulatory Affairs, Dr. Andrew Hsiao. 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 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 Diagen Bioscience'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 Diagen Bioscience's annual report on Form 10-K, 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 statement's 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 and 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.niaginbioscience.com. With that, it is now my pleasure to turn the call over to our Chief Executive Officer, Rob Freed.

Thank you, Kendall. Good afternoon, everyone, and thank you for joining us on today's investor call. We delivered another quarter of strong financial performance. In the fourth quarter, revenue was 33.8 million, growing 16% year over year, with net income of 4.1 million. So for the full year of 2025, we delivered 129.4 million in net revenue representing 30% growth year over year and net income for the year of $17.4 million. We ended the year with 64.8 million in cash and no debt. I'm very proud of what the NiagenBio team accomplished in 2025. We began the year with an initial top line guidance of 18% growth and finished the year at 30%. And we dramatically exceeded expectations on the bottom line as well. But most importantly, we're well positioned to deliver a great 2026. There are some challenges. There's increased competition in this fast growing entity space, a space that is only hitting the tip of the spear. But we have spent many years laying a strong foundation. We have the expertise, we have the intellectual property, we have the relationships, and we have the trusted brand. We're ready to build on this foundation. The most critical element of this foundation is our science. Niagen Bioscience continues to be the undisputed global leader in NAD science. Since our last earnings call, a total of 29 studies involving nicotinamide riboside were published. Eight of these studies were clinical studies. So I've asked Dr. Andrew Schauer, Senior VP of Global Scientific and Regulatory Affairs, to summarize some of these studies on this call. Of note, is a study out of Finland that showed NR supplementation slowed biological aging according to several epigenetic clocks. Also a comparison study from Dr. Tzouzoulis in Norway between NR and NMN that showed significant superiority of NR. We're seeing some consistent trends in these studies that show fatigue to be a consistent positive functional benefit from NR. as was displayed in the recent Harvard Long COVID study. Some of these studies did not show a clear benefit, such as the NOPARC Parkinson's study, but still provide great learnings for future research. We can see how elevating NAD with Niagen improves people's lives, and we will continue to further our understanding of how it works, when it works, and how to best deliver it. Another important component of our foundation is Niagen Plus. Last week, we announced that the company secured a patent that covers the methods of use of NR and derivatives in intravenous and injectable formulations. There is great opportunity for Niagen Plus. We're now present in over 1,200 health clinics, and we'll be adding doctors' offices and med spas this year. Now those locations mostly offer Niagen IV, but we plan to launch our Niagen Plus branded at-home injection kits through our own telehealth platform during the first half of 2026. And we hope to partner with other telehealth providers to distribute our at-home Niagen Plus injection kits later in the year. We also plan to expand our presence in the beauty cosmetics market this year. Following the successful launch of True Niogen Beauty in late 2025, we've developed topical products featuring Niogen. In addition to our own True Niogen branded topical products, we're in discussions with large cosmetics companies for Niogen ingredient partnerships. And I hope to share more about these partnerships in the near future. As mentioned on the previous earnings call, last September, the FDA reversed its prior determination that NMN could not be lawfully marketed as a dietary supplement. This decision by the FDA has been met with confusion within the industry as the agency did not provide a clear rationale for its seemingly arbitrary reversal. Earlier this year, we commenced litigation in federal court in Washington, D.C., challenging the FDA's reversal. We believe we have a strong case, and as a reminder, all NMN sellers in the market are at their own risk as they are all infringing on existing patents that cover the commercially available forms of NMN. Last December, we announced the acquisition of existing patents for multiple NR salt forms, including NR malate and NR tartrate and other NR derivatives. This consolidation of core intellectual property not only provides protection to Niagen in the marketplace, but also provides the company with enhanced flexibility and control over our portfolio to advance innovation in NAD science. And we continue to work with our NAD precursor portfolio for pharmaceutical applications in orphan indications, particularly ataxia telangiectasia. We've identified NB4168 as our lead development small molecule candidate for AT. We intend to continue to make strategic R&D investments to further characterize NB4168 with the long-term objective of advancing toward regulatory approval. Potential value creation pathways for this asset include a spin-out transaction or an out-licensing partnership. We'll continue to update shareholders as we achieve key development milestones. And last month, we announced the sale of the Chromadex Reference Standards business. This divestiture further streamlines NIAID's operations, advances the company's strategy to exit non-core activities, and focuses resources on NAD science, intellectual property, and commercial growth. NAD Plus remains at the forefront of health and longevity discussions. with continued coverage across mainstream press, healthcare practitioner channels, and general discourse with consumers on social media platforms. NAD is not just a trend or a fad. It is a fundamental component to cellular health and overall healthy aging. While awareness of the benefits of NAD is expanding, we believe that the category has not yet reached its tipping point. As I repeated in the past, NAD itself, the molecule NAD, in any form of administration is not proven to directly and effectively boost NAD levels. Individuals require an NAD precursor to properly boost NAD levels. And Niagen remains the gold standard for NAD precursors. and remains the most trusted and clinically and scientifically validated solution to effectively raise NAD levels. As the leader in this space, we will continue to stand by our scientific research to drive innovation, and I look forward to future announcements of new ways and new products for Niagen to benefit everyone's lives. And I would now like to hand the call over to Andrew. to provide an update on this scientific research. OZON will then run through the financial performance in greater detail, our outlook, and we will then end on Q&A and closing remarks. Andrew?