Niagen Bioscience Inc Q1 FY2026 earnings call

Rob Fried mentioned the core e-commerce business grew 14% year-over-year, direct-to-consumer website growth twice as fast as Amazon. Media attention around Niagen and NAD supplementation increased with features in major outlets. Launched Niagen Plus at-home injection kit and telehealth capability, and pilot-launched Niagen NanoCloud skincare product with strong early demand. NAD science research progresses, including work on pharmaceutical applications in orphan indications. Ozan Pamir discussed financials: $31.5 million revenue in 2026, TRU NIAGEN and ingredient revenue details, gross margin improvement, selling and marketing, R&D, and G&A expenses, balance sheet and cash flow, and revised guidance for growth, selling and marketing, and G&A expenses.

In the first quarter, Niagen Bioscience Inc delivered $31.5 million in revenue, a 5% year-over-year growth excluding revenue from the recently divested reference standard business. TRU NIAGEN revenue grew by 4% to $22.4 million, driven primarily by e-commerce revenue of $19.2 million, which was up by 14%. NIAGEN ingredient revenue was $8.2 million, up 2%. Within the ingredients business, $7.3 million in food-grade NIAGEN sales to key partners and $0.85 million in pharma-grade NIAGEN sales. Sales to Watsons and other B2B partners were down by $1.5 million year-over-year due to timing of orders and changes to inventory management, but expected to increase as per Watsons' forecasts.

Reaffirming 10% to 15% year-over-year top-line growth guidance. Revising selling and marketing expenses to increase in absolute dollars and as a percentage of net sales. Revising general and administrative expenses to be up $3 million to $4 million in absolute dollars year-over-year.

Today’s call may include forward-looking statements 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 Form 10-Q and other filings with the SEC.

Q: Big picture, could you talk about the FDA and the last motion and the ramifications of NMN as far as its sales as well as its sales through Amazon, and what is the impact there upon your business? What is the outlook there as well?

A: Rob Fried said NMN is not as effective as NIAGEN, FDA's reversal of drug preclusion ruling is questionable, seeing increase in NMN sellers and sales on Amazon impacting NIAGEN.

Q: What would you speculate the ramifications to NIAGEN have been over the first quarter?

A: Rob Fried said increase in bidding costs for keyword searches on Amazon and more difficulty getting new-to-brand customers.

Q: Could you talk about the IV clinic locations?

A: Rob Fried said in 1,200 clinics now, strong order and repeat rates, more affluent consumers in major cities, does well on cruise ships.

Q: Any initial thoughts on the NIAGEN Plus IV injectable launch—any initial consumer response? And then also, do you have plans in place yet to roll it out to other telehealth platforms, and if so, what would the timing of that be?

A: Rob Fried said launch of Niagen Plus at-home injection kit had outstanding traffic and conversions initially, not yet available in California but hopeful for resolution soon.

Q: Are you thinking about channels as we look forward? Do you eventually maybe go into retail with things like the core NIAGEN supplement? Are there other channels that you are considering?

A: Rob Fried said expect to broaden distribution footprint in other countries and retail in US, supply NIAGEN as ingredient to other skincare brands.

Q: What is the demand from other skincare or beauty companies for the ingredient, especially after you rolled out your own NanoCloud?

A: Rob Fried said been in discussion with two major skincare brands.

Q: What do you expect is going to be the impact in the near and midterm of adding the new compounding pharmacy, and when do you think we will see that impact?

A: Rob Fried said hopeful for wider distribution of sales to clinics and lower price point to end consumer, impact of Olympia in summer.

Q: The increase in the inventory number—what drove that? Is that any indication of acceleration in your expectation of sales, or is there something else going on there? And then in your commentary on G&A and sales and marketing and the outlook, would you expect the reduced outlook for spending in G&A to be offset by the increase in sales and marketing, so we wind up effectively with the same operating income level?

A: Ozan Pamir said inventory level main driver is scheduled purchases from supplier, expect inventory levels to come down, and it's a fair assumption that reduced G&A spending outlook may be offset by increase in sales and marketing.

Q: Have recent developments on the compounded GLP-1 front affected demand for NIAGEN Plus IV?

A: Rob Fried said get many calls and inquiries from clinics and compounding pharmacies about NAD as next big thing after GLP-1.

Q: How do you think the telehealth launch will impact operating efficiency, and what emerging promotional strategies do you expect to deploy under the scope of this approach?

A: Rob Fried said market it similarly to TRU NIAGEN using social media, paid ads, earned media, PR, influencers and studies.

Q: Would you be able to go into the status of the complaint aimed at removing NMN products from the U.S. market?

A: Rob Fried said sued FDA as ruling was incorrect, awaiting hearings and judge's decision within a year.

Q: Relative to the NanoCloud skincare product, would you walk us through how you are marketing that and how you ended up getting such great traction so early on? And secondarily, what you are learning from having that product in the market?

A: Rob Fried said mostly existing TRU NIAGEN consumers purchasing as bundle, little paid advertising, got positive responses from early consumers.

Q: As you see the consumer behavior, has that led to any learnings in terms of how, when you do your commercial launch in October, you want to approach it? What are you seeing or learning from any of the social media that is taking place?

A: Rob Fried said predominantly female product, high repurchase rate, may adjust pricing, considering retail interest.

Q: Do you see meaningful overlap between the oral supplement user, the high-end IV user, and this newer at-home injectable user? Are they completely distinct populations, or do they overlap?

A: Rob Fried said Niagen injection product is more acute, oral is maintenance, some may use both intermittently but early days to tell.

Q: Are you teed up on a bunch of podcasts? That would be the best marketing you can possibly do, I think.

A: Rob Fried said done a few, signed up more, many podcasters requested IV or injection and may follow up with interviews.