Niagen Bioscience Inc

Niagen Bioscience reported first-quarter 2026 revenue of $31.5 million, or $31.1 million excluding the reference standard segment, up 5% year over year. Tru Niagen revenue rose 4% to $22.4 million, including $19.2 million of e-commerce revenue, up 14%; Niagen ingredient revenue was $8.2 million, up 2%. Gross margin improved to 63.5% from 63.4% a year ago. Net income was $6.3 million, or $0.08 per share, versus $0.07 per share in Q1 2025. Cash ended at $66.5 million with no debt. For full-year 2026, management reaffirmed revenue growth guidance of 10% to 15%. It also now expects selling and marketing expense to increase in absolute dollars and as a percentage of net sales, and expects G&A to be up $3 million to $4 million year over year, versus a prior expectation of $4 million to $5 million.

Rob Fried emphasized that Niagen’s brand and science are gaining broader recognition, citing major media coverage and the USP monograph as proof points of differentiation. He framed the new Niagen+ at-home injection kit, the Nanocloud skincare launch, and the expanding research base as signs that the company is moving into new longevity and wellness applications. His tone was confident and expansionary, but also methodical, repeatedly stressing that these launches will be iterated carefully and supported by science.

Ozan Pamir said the quarter was marked by strong e-commerce growth, margin stability, and solid profitability. He highlighted gross margin of 63.5%, S&M at 30.7% of sales, R&D of $1.5 million, G&A of $7.2 million, and net income of $6.3 million, or $0.08 per share. On cash flow, he noted $66.5 million in cash, no debt, $1.2 million of cash used in operations, $5.8 million of proceeds from the reference standards sale, and $2.4 million of share repurchases under a $20 million repurchase program. He also said inventory should come down through the rest of the year and that the company is increasing S&M spending while revising G&A expectations lower than previously guided.

Analysts focused on the FDA/NMN situation, the effect of rising NMN competition on Amazon and keyword bidding, and how that pressure is affecting Niagen sales. Management said NMN is already causing headwinds, especially on Amazon, but argued Niagen remains superior scientifically and said the FDA ruling could still be reversed through litigation. Questions also centered on the new IV/injectable rollout, clinic placements, pricing, and the Nanocloud launch; management said the IV business is in about 1,200 clinics with strong order and repeat rates, and that the at-home injectable launch had encouraging early traffic and conversions, with California access expected to be resolved in the next few weeks. On Nanocloud, management said early demand is very strong, with a wider launch planned for October.