Niagen Bioscience, Inc.

Ladies and gentlemen, thank you for standing by and welcome to Niagen Bioscience Inc.' 's first quarter 2026 earnings conference call. My name is Karina and I will be the conference operator today. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded. Earlier today, Niagen Bioscience issued a press release announcing its financial results for the first quarter of 2026. If you have not reviewed this information... It is available within the Investor Relations section of Niogen Bioscience's website at www.niogenbioscience.com. I would now like to turn the call over to Lauren Brzozanski, Assistant Controller. Please go ahead.

Good afternoon, and welcome to Niogen Bioscience, Inc.' 's first quarter 2026 conference call. Joining me today are our Chief Executive Officer, Rob Freed, Chief Financial Officer, Ozan Pamir, and Senior Vice President of Scientific and Regulatory Affairs, Dr. Andrew Hsiao. Dr. Hsiao will be joining the call for Q&A. Before we begin, I'd like to remind everyone that today's call may include forward-looking statements. These statements relate to, among other things, our research and development activities, clinical trial plans and timing, regulatory filings, expansion into new markets, business development opportunities, and our expected financial and operating performance. These statements are based on our current expectations as of today and are subject to risks and uncertainties that could cause actual results to differ materially. For a discussion of these risks, please refer to our most recent forum time queue and other filings with the SEC. We undertake no obligation to update these statements except as required by law. In addition, we may reference certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures can be found in today's earnings release and presentation, both available in the Investors Relations section of our website. With that, it's now my pleasure to turn the call over to our CEO, Rob Free.

Thank you, Lauren. Good afternoon, everyone, and thank you for joining us. On today's investor call, in the first quarter, we delivered $31.5 million in revenue, a 5% year-over-year growth excluding revenue from the recently divested reference standard business. We generated a net income of $6.3 million and ended the quarter with $66.5 million in cash and no debt. We had an increase in working capital of about $5.4 million from the prior quarter, leaving a total of $82.3 million. The core e-commerce business grew 14% year over year. The direct-to-consumer website grew twice as fast as Amazon. As anticipated, two of our customers did not order this quarter as much as they did a year ago, which impacted overall growth. but we do see promising indicators to start the year. The awareness around Niagen and the benefits of NAD supplementation continues to gain media attention. Over the last year, we've garnered many features with major media outlets, including a cover feature in the Business by LA Times studio's and additional digital features on LA Times, The Wall Street Journal, The Washington Post, Business Insider, People Magazine, GQ, Vogue, Vanity Fair, Bio Tuesdays, The New York Post, US News and World Report, Everyday Health, Elle, Allure, and others. These features serve as a powerful validation that overall awareness of the importance of NAD is growing stronger and major media outlets are recognizing the strength of our science. and the quality of our products and our leadership in the industry. An example of why experts and industry journalists understand Niagen to be unique in this space is our recent launch of the Niagen Plus at-home injection kit and our telehealth capability. There are numerous federal and state requirements that had to be met in order to offer a product such as this, and the ingredient itself must be pharmaceutical grade. It must conform to very high purity and sterilization standards and it has taken many years and countless hours from the exceptional Niagen Bioscience team to get here. I am very proud of this achievement. It is the first product launch through our very own telehealth platform and places us firmly in the heart of a growing and important longevity trend. Of course, as we do with most things, we're approaching this new endeavor carefully and methodically, and I expect it to iterate and improve with time. Niagen Plus is not our only new development in our product pipeline. In March, we pilot launched the Niagen NanoCloud, our first skincare topical product. Early demand has been extremely strong, and we're already nearly sold out. The wide launch will be in October. Surveys of the early adopters of NanoCloud has yielded enthusiastic results. They see visibly more youthful, smoother, and more moisturized skin and improved skin texture. These results are consistent with the recently completed independent study. In addition to our own true Niagen consumer products, we expect to supply Niagen as an ingredient to reputable and trustworthy skincare brands. Last month, we announced that NR chloride, patented as Niagen, has achieved a published USP dietary supplement ingredient monograph. The USP monograph is usually reserved for approved drugs and rarely dietary supplements. There is now a global benchmark for what high-quality NR chloride should look like in dietary supplements, and that benchmark is Niagen. Niagen is the only ingredient among the NAD and NMN companies to reach this standard. This is merely one of many examples of our dedication to investing in science and innovation and in high quality, and makes our company truly unique in the NAD space. NAD science continues to evolve, and as the leader in NAD science, we take pride in contributing to research that advances the understanding of NAD and its implications for human health. In March, we were the lead sponsor of the inaugural NAD for Health scientific meeting hosted by the University of Copenhagen. This brought together world-renowned researchers, clinicians, and industry partners. A prominent discussion at this conference was a new development in the understanding how, when, and where different NAD precursors exhibit their effects. We learned that while whole blood NAD remains an important biomarker, tissue NAD may be the key determinant of functional outcomes. Emerging evidence suggests that NR administered through IV or injection can support more rapid, direct, and substantial NAD augmentation in peripheral tissues such as the liver, kidney, brain, skeletal muscle, and skin. Additionally, recent evidence suggests that combining NAD boosting supplementation with exercise may produce additive or potentially synergistic effects on certain functional outcomes, such as blood flow and aerobic capacity. These learnings will require further validation in human clinical trials, and we look forward to this next phase of research. We continue to make steady but deliberate progress towards pharmaceutical applications of our MAD precursor portfolio in orphan indications, particularly ataxia telangiectasia. We are working with CROs to design and execute key IND-enabling preclinical studies, a portion of which were initiated earlier this year. And I hope to have more updates or key developments on future calls. Niagen Bioscience continues to set an example in the industry. We are dedicated to doing things the right way, to advancing the science, and to promoting the understanding of how Niagen plays a critical role in improving health. This is what sets us apart from all other NAD companies. I would 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. Ozan?