What is Niagen Bioscience's operating income?

Niagen Bioscience's total operating income in 2025 was $16.28 million, based on the following breakdown: Total Gross Profit: $83.19 million Total Operating Expenses: $66.91 million

Niagen Bioscience (NAGE) Financials

$3.21 +0.02 (+0.63%)

Closing price 07/24/2026 04:00 PM Eastern

Extended Trading

$3.22 +0.00 (+0.16%)

As of 07/24/2026 07:34 PM Eastern

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Annual Income Statements for Niagen Bioscience

This table shows Niagen Bioscience's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/2/2016	12/31/2016	12/30/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.77	-2.93	-11	-33	-32	-20	-27	-17	-4.94	8.55	17
Consolidated Net Income / (Loss)	-2.77	-2.93	-11	-33	-32	-20	-27	-17	-4.94	8.55	17
Net Income / (Loss) Continuing Operations	-2.64	-3.55	-17	-33	-32	-20	-27	-17	-4.94	8.55	17
Total Pre-Tax Income	-2.63	-3.55	-17	-33	-32	-20	-27	-19	-4.94	8.86	18
Total Operating Income	-2.07	-2.91	-16	-33	-31	-20	-27	-19	-5.60	7.73	16
Total Gross Profit	7.53	10	10	16	26	35	41	43	51	62	83
Total Revenue	18	22	21	32	46	59	67	72	84	100	129
Operating Revenue	18	22	21	32	46	59	67	72	84	100	129
Total Cost of Revenue	10	11	11	16	21	24	26	29	33	38	46
Operating Cost of Revenue	10	11	11	16	21	24	26	29	33	38	46
Total Operating Expenses	9.60	13	27	49	57	55	69	61	56	54	67
Selling, General & Admin Expense	7.20	9.21	18	27	34	31	36	28	25	18	27
Marketing Expense	1.51	1.56	4.46	17	18	21	28	28	26	29	36
Research & Development Expense	0.89	2.52	4.01	5.48	4.42	3.42	3.83	4.83	4.96	6.02	6.33
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	-	0.00	-1.98
Total Other Income / (Expense), net	-0.57	-0.65	-0.15	-0.14	-0.85	-0.07	-0.06	0.00	0.66	1.13	1.91
Interest & Investment Income	-	-	-	-	-	-	-	-	0.66	1.13	2.13
Other Income / (Expense), net	0.00	0.00	-	-0.07	-0.85	-	-	-	-	0.00	-0.21
Income Tax Expense	-0.00	0.00	-	-	-	-	-	-	0.00	0.31	0.81
Basic Earnings per Share	($0.08)	($0.08)	($0.26)	($0.61)	($0.56)	($0.33)	($0.40)	($0.24)	($0.07)	$0.11	$0.22
Weighted Average Basic Shares Outstanding	35.88M	37.29M	44.60M	55.01M	57.06M	61.07M	67.19M	69.73M	74.99M	75.93M	79.18M
Diluted Earnings per Share	($0.08)	($0.08)	($0.26)	($0.61)	($0.56)	($0.33)	($0.40)	($0.24)	($0.07)	$0.11	$0.20
Weighted Average Diluted Shares Outstanding	35.88M	37.29M	44.60M	55.01M	57.06M	61.07M	67.19M	69.73M	74.99M	78.13M	85.44M
Weighted Average Basic & Diluted Shares Outstanding	35.88M	37.29M	44.60M	55.01M	57.06M	61.07M	68.31M	74.84M	75.31M	77.75M	80.08M

This table shows Niagen Bioscience's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-0.96	0.11	-0.49	-0.02	1.88	7.18	5.06	3.61	4.58	4.13	6.32
Consolidated Net Income / (Loss)	-0.96	0.11	-0.49	-0.02	1.88	7.18	5.06	3.61	4.58	4.13	6.32
Net Income / (Loss) Continuing Operations	-0.96	0.11	-0.49	-0.02	1.88	7.18	5.06	3.61	4.58	4.13	6.32
Total Pre-Tax Income	-0.96	0.11	-0.49	-0.02	1.88	7.48	5.23	3.74	4.80	4.42	6.74
Total Operating Income	-1.15	-0.17	-0.73	-0.26	1.60	7.11	4.77	3.19	4.24	4.09	1.58
Total Gross Profit	12	13	13	14	16	18	19	20	22	22	20
Total Revenue	19	21	22	23	26	29	30	31	34	34	31
Operating Revenue	19	21	22	23	26	29	30	31	34	34	31
Total Cost of Revenue	7.53	8.26	8.70	9.05	9.34	11	11	11	12	12	11
Operating Cost of Revenue	7.53	8.26	8.70	9.05	9.34	11	11	11	12	12	11
Total Operating Expenses	13	13	14	14	15	11	15	17	18	18	18
Selling, General & Admin Expense	5.84	5.43	5.35	5.66	6.30	1.06	5.18	7.27	7.13	7.48	7.24
Marketing Expense	6.04	6.52	6.74	6.97	7.04	8.72	8.12	8.21	8.77	10	9.68
Research & Development Expense	1.24	1.16	2.10	1.32	1.29	1.32	1.26	1.57	1.80	1.71	1.48
Total Other Income / (Expense), net	0.19	0.28	0.24	0.24	0.28	0.37	0.46	0.55	0.56	0.34	5.16
Interest & Investment Income	0.19	-	0.24	0.24	0.28	-	0.46	0.55	0.56	0.55	0.38
Other Income / (Expense), net	-	-	-	-	-	-	0.00	-	-	-	4.78
Income Tax Expense	-	-	0.00	0.00	0.00	-	0.17	0.13	0.22	0.29	0.42
Basic Earnings per Share	($0.01)	-	($0.01)	$0.00	$0.02	$0.10	$0.07	$0.05	$0.06	$0.04	$0.08
Weighted Average Basic Shares Outstanding	75.05M	74.99M	75.23M	75.56M	75.97M	75.93M	77.81M	79.25M	79.78M	79.18M	79.92M
Diluted Earnings per Share	($0.01)	-	($0.01)	$0.00	$0.02	$0.10	$0.06	$0.04	$0.05	$0.05	$0.07
Weighted Average Diluted Shares Outstanding	75.05M	74.99M	75.23M	75.56M	77.77M	78.13M	83.23M	86.24M	86.62M	85.44M	84.57M
Weighted Average Basic & Diluted Shares Outstanding	75.12M	75.31M	75.54M	75.93M	76.38M	77.75M	78.77M	79.75M	79.81M	80.08M	79.64M

This table details how cash moves in and out of Niagen Bioscience's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/2/2016	12/31/2016	12/30/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.58	-3.91	44	-23	-3.80	-2.12	12	-7.78	6.88	17	20
Net Cash From Operating Activities	-2.11	-2.94	-9.80	-21	-20	-11	-24	-15	7.12	12	14
Net Cash From Continuing Operating Activities	8.68	5.08	-4.51	-18	-12	-11	-24	-15	7.12	12	14
Net Income / (Loss) Continuing Operations	-2.77	-2.93	-11	-33	-32	-20	-27	-17	-4.94	8.55	17
Consolidated Net Income / (Loss)	-2.77	-2.93	-11	-33	-32	-20	-27	-17	-4.94	8.55	17
Depreciation Expense	0.29	0.33	0.51	0.61	0.76	0.87	0.89	0.87	0.87	0.66	0.61
Amortization Expense	0.05	0.09	0.21	0.24	1.61	0.64	0.74	1.02	0.16	0.15	0.17
Non-Cash Adjustments To Reconcile Net Income	2.54	2.34	-1.19	6.27	8.91	6.87	6.35	5.88	6.47	-0.39	3.63
Changes in Operating Assets and Liabilities, net	-2.21	-2.77	2.04	5.29	0.43	0.94	-5.01	-6.32	4.56	3.13	-8.30
Net Cash From Investing Activities	-0.65	-1.72	4.60	-1.78	-0.25	-0.17	-0.41	-0.33	-0.14	-0.14	-0.29
Net Cash From Continuing Investing Activities	-0.65	-1.72	4.60	-1.78	0.15	-0.17	-0.41	-0.33	-0.14	-0.14	-0.29
Purchase of Property, Plant & Equipment	-0.53	-1.50	-1.17	-1.32	-0.74	-0.12	-0.41	-0.33	-0.15	-0.16	-0.29
Other Investing Activities, net	-	-	-	0.00	0.49	-0.02	-	0.00	0.01	0.02	0.00
Net Cash From Financing Activities	4.34	0.75	49	-0.09	17	8.65	36	7.65	-0.09	5.37	6.92
Net Cash From Continuing Financing Activities	4.34	0.75	49	-0.09	17	8.65	36	7.65	-0.09	5.37	6.92
Repayment of Debt	-0.23	-5.40	-0.68	-0.22	-0.39	-0.32	-0.11	-0.09	-0.09	-0.05	-0.08
Repurchase of Common Equity	-	-	-	-	-0.57	-	-	-	-	0.00	-0.25
Other Financing Activities, net	2.59	0.44	3.04	0.53	11	4.12	9.46	-	0.00	5.42	7.25
Cash Interest Paid	0.43	0.26	0.06	0.04	0.03	0.01	0.00	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Niagen Bioscience's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	0.37	0.55	0.24	0.32	4.51	12	11	4.86	3.82	0.50	1.76
Net Cash From Operating Activities	0.40	0.65	0.30	-0.26	3.50	8.58	7.88	1.25	3.69	0.68	-1.19
Net Cash From Continuing Operating Activities	0.40	0.65	0.30	-0.26	3.50	8.58	7.88	1.25	3.69	0.68	-1.19
Net Income / (Loss) Continuing Operations	-0.96	0.11	-0.49	-0.02	1.88	7.18	5.06	3.61	4.58	4.13	6.32
Consolidated Net Income / (Loss)	-0.96	0.11	-0.49	-0.02	1.88	7.18	5.06	3.61	4.58	4.13	6.32
Depreciation Expense	0.23	0.18	0.18	0.17	0.16	0.15	0.16	0.16	0.16	0.14	0.12
Amortization Expense	0.22	-0.48	0.04	0.20	0.20	-0.46	0.04	0.04	0.04	0.06	0.18
Non-Cash Adjustments To Reconcile Net Income	1.33	1.75	1.21	1.22	0.75	-4.01	-0.06	1.75	1.92	0.02	-2.68
Changes in Operating Assets and Liabilities, net	-0.42	-0.91	-0.64	-1.84	0.50	5.73	2.68	-4.30	-3.00	-3.67	-5.12
Net Cash From Investing Activities	-0.03	-0.02	-0.04	-0.01	-0.02	-0.07	-0.03	-0.14	-0.02	-0.10	5.25
Net Cash From Continuing Investing Activities	-0.03	-0.02	-0.04	-0.01	-0.02	-0.07	-0.03	-0.14	-0.02	-0.10	5.25
Purchase of Property, Plant & Equipment	-0.03	-0.02	-0.04	-0.01	-0.04	-	-0.03	-0.14	-0.02	-0.10	-0.06
Divestitures	-	-	-	-	-	-	0.00	-	-	-	5.80
Other Investing Activities, net	-	-	-	-	0.02	-0.16	0.00	-	-	-	-0.49
Net Cash From Financing Activities	-0.00	-0.08	-0.01	0.60	1.04	3.75	3.11	3.74	0.15	-0.08	-2.29
Net Cash From Continuing Financing Activities	-0.00	-0.08	-0.01	0.60	1.04	3.75	3.11	3.74	0.15	-0.08	-2.29
Repayment of Debt	-0.00	-0.08	-0.01	-0.00	-0.00	-0.04	-0.01	-0.01	0.01	-0.07	0.00
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-2.35
Other Financing Activities, net	-	-	0.00	-	1.04	3.79	3.11	3.75	0.14	0.24	0.06

This table presents Niagen Bioscience's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/2/2016	12/31/2016	12/30/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	19	20	63	42	40	38	58	54	55	68	106
Total Current Assets	17	16	57	37	34	32	49	47	50	64	97
Cash & Equivalents	5.55	1.64	45	23	19	17	-	20	27	45	65
Accounts Receivable	2.45	5.85	5.34	4.36	-	2.69	5.23	8.48	5.23	7.77	9.74
Inventories, net	8.17	7.91	5.80	8.25	12	12	14	15	15	9.19	20
Prepaid Expenses	0.37	0.31	0.66	0.58	1.00	1.15	1.86	2.97	2.45	2.48	1.31
Other Current Assets	-	-	0.00	0.73	2.18	-	-	-	-	0.00	0.54
Plant, Property, & Equipment, net	1.79	1.78	2.87	3.59	3.77	0.00	0.00	2.80	2.14	1.72	1.32
Total Noncurrent Assets	0.41	2.24	2.67	2.11	2.96	6.14	8.94	4.69	3.29	2.46	8.28
Intangible Assets	0.35	0.49	1.65	1.55	1.31	1.08	0.86	0.67	0.51	0.36	5.66
Other Noncurrent Operating Assets	0.06	0.38	1.02	0.57	1.65	1.85	5.08	4.02	2.78	2.10	2.62
Total Liabilities & Shareholders' Equity	19	20	63	42	40	38	58	54	55	68	106
Total Liabilities	13	9.78	8.89	15	20	22	26	25	27	22	30
Total Current Liabilities	9.59	8.87	8.09	14	15	16	18	18	21	18	20
Accounts Payable	6.22	5.98	3.72	9.55	9.63	9.45	10	9.68	10	8.53	11
Accrued Expenses	1.30	2.17	3.65	4.44	4.42	6.13	6.48	7.34	9.49	7.82	7.72
Current Deferred Revenue	0.04	0.08	0.11	-	-	0.28	-	0.16	0.20	0.61	0.40
Current Employee Benefit Liabilities	-	0.00	0.10	-	-	-	-	-	-	-	0.00
Other Current Liabilities	-	-	-	0.17	0.85	0.62	0.55	0.70	0.70	0.99	1.00
Total Noncurrent Liabilities	3.89	0.91	0.80	0.61	4.74	5.46	8.50	7.52	5.89	4.24	9.95
Noncurrent Deferred Revenue	0.10	0.38	0.49	0.48	3.87	4.44	4.35	3.96	3.31	2.58	2.67
Noncurrent Employee Benefit Liabilities	-	-	-	-	-	-	-	-	-	0.00	5.47
Other Noncurrent Operating Liabilities	-	-	-	0.14	0.87	1.00	4.15	3.56	2.58	1.66	1.82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5.27	9.97	54	27	20	16	32	29	28	46	77
Total Preferred & Common Equity	5.27	9.97	54	27	20	16	32	29	28	46	77
Total Common Equity	5.27	9.97	54	27	20	16	32	29	28	46	77
Common Stock	48	55	110	117	142	158	201	214	219	228	241
Retained Earnings	-42	-45	-57	-90	-122	-142	-169	-185	-190	-182	-165
Other Equity Adjustments	-	-	-	-	0.00	-0.00	-0.00	-0.00	-0.00	-	-0.01

This table presents Niagen Bioscience's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	46	54	53	53	54	54	57	81	92	98	114
Total Current Assets	38	47	46	47	49	49	52	76	87	94	105
Cash & Equivalents	13	23	26	27	28	28	32	56	60	64	67
Accounts Receivable	4.74	9.22	6.12	5.60	6.60	7.82	7.10	7.05	9.66	8.51	13
Inventories, net	16	12	12	13	12	12	11	11	14	19	24
Prepaid Expenses	4.26	2.30	1.89	2.18	2.31	2.09	2.10	2.37	2.14	2.03	1.49
Other Current Assets	-	-	-	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	2.79	2.69	2.50	2.29	2.00	1.84	1.72	1.66	1.63	1.50	1.30
Total Noncurrent Assets	4.97	4.51	4.29	4.01	3.10	2.89	2.67	3.46	3.21	3.02	7.91
Intangible Assets	0.71	0.63	0.59	0.55	0.47	0.44	0.40	0.32	0.28	0.25	5.49
Other Noncurrent Operating Assets	4.26	3.88	3.70	3.46	2.63	2.46	2.27	3.14	2.93	2.78	2.43
Total Liabilities & Shareholders' Equity	46	54	53	53	54	54	57	81	92	98	114
Total Liabilities	25	26	26	26	25	23	22	26	27	27	32
Total Current Liabilities	17	18	19	19	19	18	18	21	22	23	23
Accounts Payable	9.12	8.95	10	9.20	7.90	8.11	6.90	11	14	13	13
Accrued Expenses	6.76	8.61	8.08	9.19	10	8.62	9.59	9.05	7.38	8.70	7.62
Current Deferred Revenue	-	0.15	0.17	0.19	0.23	0.16	0.18	0.21	0.30	0.29	0.38
Current Employee Benefit Liabilities	-	-	-	-	-	-	-	-	-	-	0.51
Other Current Liabilities	0.69	0.71	0.79	0.86	0.86	0.99	1.02	0.95	0.96	0.98	1.03
Total Noncurrent Liabilities	7.92	7.33	6.96	6.73	5.68	5.45	4.45	5.16	5.00	4.75	9.18
Noncurrent Deferred Revenue	4.23	3.96	3.81	3.81	3.31	3.31	2.58	2.58	2.67	2.67	2.57
Noncurrent Employee Benefit Liabilities	-	-	-	-	-	-	-	-	-	-	5.06
Other Noncurrent Operating Liabilities	3.69	3.37	3.15	2.93	2.37	2.14	1.88	2.58	2.33	2.08	1.54
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	21	28	27	27	29	31	34	55	64	71	82
Total Preferred & Common Equity	21	28	27	27	29	31	34	55	64	71	82
Total Common Equity	21	28	27	27	29	31	34	55	64	71	82
Common Stock	205	215	217	218	220	222	223	232	237	239	241
Retained Earnings	-184	-187	-190	-191	-191	-191	-189	-177	-173	-169	-158
Other Equity Adjustments	-	-	-	-	-0.00	-0.00	-0.01	-0.01	-0.00	-0.01	-0.00

This table displays calculated financial ratios and metrics derived from Niagen Bioscience's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/2/2016	12/31/2016	12/30/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	79,806,139.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	79,806,139.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.79%	21.13%	-2.14%	48.85%	46.69%	28.01%	13.82%	6.82%	15.99%	19.18%	29.95%
EBITDA Growth	65.10%	-43.22%	-530.06%	-106.85%	8.08%	38.41%	-38.74%	34.20%	72.70%	286.83%	97.31%
EBIT Growth	60.51%	-40.61%	-463.71%	-102.95%	3.28%	38.24%	-36.36%	31.19%	69.94%	237.99%	107.93%
NOPAT Growth	60.51%	-40.61%	-463.71%	-102.55%	5.64%	36.57%	-36.36%	31.19%	69.94%	290.34%	108.50%
Net Income Growth	48.57%	-5.67%	-288.57%	-192.81%	3.51%	38.02%	-36.15%	39.03%	70.15%	273.15%	103.30%
EPS Growth	46.67%	0.00%	-225.00%	-134.62%	8.20%	41.07%	-21.21%	40.00%	70.83%	257.14%	81.82%
Operating Cash Flow Growth	18.19%	-39.10%	-233.86%	-113.26%	2.24%	48.14%	-127.95%	37.52%	147.14%	70.14%	11.52%
Free Cash Flow Firm Growth	13.85%	-15.13%	-182.35%	-48.39%	-0.79%	36.72%	-89.08%	21.79%	117.91%	125.01%	-26.74%
Invested Capital Growth	87.61%	46.76%	15.88%	-49.03%	-64.20%	-115.49%	1,486.56%	134.64%	-86.26%	26.79%	719.04%
Revenue Q/Q Growth	-18.31%	6.54%	39.15%	5.12%	9.52%	4.14%	3.55%	4.70%	0.24%	8.65%	3.78%
EBITDA Q/Q Growth	-1.91%	-187.04%	-60.80%	1.62%	-4.72%	13.31%	2.89%	19.04%	10.16%	338.85%	-16.08%
EBIT Q/Q Growth	-2.45%	-132.04%	-57.39%	1.40%	-4.78%	12.28%	2.75%	17.21%	18.56%	1,628.41%	-16.78%
NOPAT Q/Q Growth	-2.45%	-132.04%	-57.39%	1.60%	-2.02%	12.28%	2.75%	17.21%	18.56%	1,568.88%	-16.18%
Net Income Q/Q Growth	-7.75%	-32.61%	-141.94%	1.78%	-2.02%	12.15%	2.77%	19.11%	23.68%	475.76%	-14.92%
EPS Q/Q Growth	42.86%	-33.33%	-85.71%	4.69%	0.00%	13.16%	6.98%	14.29%	30.00%	1,000.00%	-20.00%
Operating Cash Flow Q/Q Growth	-40.43%	26.24%	-67.71%	-7.01%	18.13%	5.63%	-25.87%	23.41%	15.91%	190.04%	-36.92%
Free Cash Flow Firm Q/Q Growth	-13.64%	22.23%	-69.18%	0.13%	24.95%	-14.53%	-27.34%	16.65%	23.69%	823.65%	-62.92%
Invested Capital Q/Q Growth	1.82%	-23.31%	-13.01%	-17.79%	-82.56%	-106.31%	48.77%	3.94%	111.40%	-27.25%	83.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.13%	47.96%	49.42%	50.88%	55.67%	59.53%	61.51%	59.40%	60.76%	61.84%	64.28%
EBITDA Margin	-9.70%	-11.47%	-73.87%	-102.66%	-64.33%	-30.95%	-37.73%	-23.24%	-5.47%	8.57%	13.02%
Operating Margin	-11.55%	-13.41%	-77.25%	-105.12%	-67.62%	-33.50%	-40.14%	-25.85%	-6.70%	7.76%	12.58%
EBIT Margin	-11.55%	-13.41%	-77.25%	-105.32%	-69.45%	-33.50%	-40.14%	-25.85%	-6.70%	7.76%	12.41%
Profit (Net Income) Margin	-15.49%	-13.52%	-53.67%	-105.57%	-69.45%	-33.62%	-40.22%	-22.96%	-5.91%	8.58%	13.43%
Tax Burden Percent	105.24%	82.45%	68.83%	100.00%	100.00%	100.00%	100.00%	88.81%	100.00%	96.56%	95.55%
Interest Burden Percent	127.44%	122.25%	100.93%	100.24%	100.00%	100.36%	100.20%	99.98%	88.19%	114.61%	113.24%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.44%	4.45%
Return on Invested Capital (ROIC)	-35.85%	-31.32%	-137.50%	-343.68%	-707.34%	-2,014.17%	-1,164.43%	-222.16%	-83.73%	581.67%	236.04%
ROIC Less NNEP Spread (ROIC-NNEP)	184.13%	47.79%	-137.86%	-313.76%	-657.92%	-1,980.21%	-1,128.00%	-207.77%	-79.46%	578.64%	232.70%
Return on Net Nonoperating Assets (RNNOA)	-23.92%	-7.09%	101.83%	261.43%	572.34%	1,906.09%	1,051.75%	167.39%	66.44%	-558.73%	-207.70%
Return on Equity (ROE)	-59.77%	-38.40%	-35.66%	-82.25%	-135.01%	-108.09%	-112.68%	-54.77%	-17.29%	22.94%	28.35%
Cash Return on Invested Capital (CROIC)	-96.77%	-69.22%	-152.21%	-278.72%	-612.78%	0.00%	-647.44%	-302.63%	67.95%	558.04%	79.57%
Operating Return on Assets (OROA)	-13.65%	-15.09%	-39.71%	-63.34%	-77.95%	-50.52%	-56.29%	-33.29%	-10.27%	12.54%	18.39%
Return on Assets (ROA)	-18.31%	-15.21%	-27.59%	-63.49%	-77.95%	-50.70%	-56.40%	-29.56%	-9.06%	13.88%	19.90%
Return on Common Equity (ROCE)	-59.77%	-38.40%	-35.66%	-82.25%	-135.01%	-108.09%	-112.68%	-54.77%	-17.29%	22.94%	28.35%
Return on Equity Simple (ROE_SIMPLE)	-52.54%	-29.36%	-21.14%	-122.58%	-157.24%	-121.32%	-85.50%	-57.69%	-17.35%	18.55%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.45	-2.03	-11	-23	-22	-14	-19	-13	-3.92	7.46	16
NOPAT Margin	-8.09%	-9.39%	-54.07%	-73.58%	-47.33%	-23.45%	-28.10%	-18.10%	-4.69%	7.49%	12.02%
Net Nonoperating Expense Percent (NNEP)	-219.98%	-79.11%	0.36%	-29.91%	-49.42%	-33.97%	-36.43%	-14.39%	-4.27%	3.03%	3.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-13.77%	16.18%	20.32%
Cost of Revenue to Revenue	57.87%	52.04%	50.58%	49.12%	44.33%	40.47%	38.49%	40.60%	39.24%	38.16%	35.72%
SG&A Expenses to Revenue	40.26%	42.53%	86.73%	86.23%	74.38%	51.92%	53.94%	39.26%	29.89%	18.45%	20.91%
R&D to Revenue	4.99%	11.64%	18.90%	17.36%	9.55%	5.76%	5.68%	6.70%	5.93%	6.04%	4.89%
Operating Expenses to Revenue	53.68%	61.37%	126.66%	155.99%	123.28%	93.03%	101.65%	85.25%	67.46%	54.08%	51.70%
Earnings before Interest and Taxes (EBIT)	-2.07	-2.91	-16	-33	-32	-20	-27	-19	-5.60	7.73	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.74	-2.49	-16	-32	-30	-18	-25	-17	-4.57	8.54	17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	30.41	12.58	5.26	6.95	12.56	18.06	8.05	4.36	3.78	8.79	6.63
Price to Tangible Book Value (P/TBV)	32.60	13.22	5.43	7.37	13.42	19.33	8.27	4.47	3.84	8.86	7.16
Price to Revenue (P/Rev)	8.97	5.79	13.36	5.99	5.55	5.01	3.79	1.74	1.29	4.07	3.92
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	47.39	29.20
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%	3.42%
Enterprise Value to Invested Capital (EV/IC)	30.47	16.11	26.64	36.47	145.72	0.00	64.76	12.72	70.82	251.43	37.70
Enterprise Value to Revenue (EV/Rev)	8.97	5.74	11.25	5.27	5.14	4.72	3.37	1.45	0.96	3.62	3.42
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	42.22	26.28
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	46.67	27.56
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	48.33	28.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.26	29.78	32.79
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.18	50.38	84.45
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.05	0.06	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.72	0.03	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.13	-0.15	-0.74	-0.83	-0.87	-0.96	-0.93	-0.81	-0.84	-0.97	-0.89
Leverage Ratio	3.26	2.52	1.29	1.30	1.73	2.13	2.00	1.85	1.91	1.65	1.42
Compound Leverage Factor	4.16	3.09	1.30	1.30	1.73	2.14	2.00	1.85	1.68	1.89	1.61
Debt to Total Capital	51.22%	5.67%	0.93%	0.00%	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	16.17%	2.42%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	35.05%	3.25%	0.57%	0.00%	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	48.78%	94.33%	99.07%	100.00%	100.00%	99.88%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	-3.19	-0.24	-0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.01	0.43	2.87	0.00	0.00	0.91	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	-2.18	-0.14	-0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-3.83	-0.29	-0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.01	0.52	3.92	0.00	0.00	1.20	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-2.62	-0.17	-0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	5.02	5.52	18.28	3.34	2.60	3.27	2.05	-1.01	-0.60	9.87	10.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.73	1.77	7.07	2.53	2.23	1.96	2.78	2.61	2.40	3.57	4.86
Quick Ratio	0.83	0.85	6.27	1.87	1.25	1.18	0.30	1.62	1.58	2.92	3.74
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.90	-4.49	-13	-19	-19	-12	-23	-18	3.18	7.16	5.24
Operating Cash Flow to CapEx	-401.94%	-195.13%	0.00%	-1,582.74%	-2,750.87%	-8,548.39%	-5,907.82%	-4,520.36%	4,808.78%	0.00%	4,624.66%
Free Cash Flow to Firm to Interest Expense	-6.89	-6.95	-82.95	-238.37	0.00	-169.18	-412.95	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-3.72	-4.54	-64.08	-264.66	0.00	-149.30	-439.33	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-4.65	-6.87	-32.80	-281.38	0.00	-151.04	-446.76	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.18	1.13	0.51	0.60	1.12	1.51	1.40	1.29	1.53	1.62	1.48
Accounts Receivable Turnover	8.21	5.22	3.79	6.51	0.00	0.00	17.03	10.51	12.19	15.32	14.78
Inventory Turnover	1.74	1.40	1.56	2.21	2.07	2.07	2.05	2.07	2.25	3.21	3.12
Fixed Asset Turnover	11.72	12.15	9.12	9.77	12.60	0.00	0.00	0.00	33.86	51.66	85.09
Accounts Payable Turnover	2.14	1.85	2.21	2.34	2.14	2.52	2.61	2.91	3.29	4.05	4.79
Days Sales Outstanding (DSO)	44.46	69.94	96.32	56.08	0.00	0.00	21.43	34.72	29.95	23.82	24.69
Days Inventory Outstanding (DIO)	209.97	260.40	233.29	165.35	175.94	176.68	177.75	176.42	162.53	113.87	116.90
Days Payable Outstanding (DPO)	170.60	197.52	165.03	156.19	170.51	145.12	139.68	125.41	110.82	90.06	76.27
Cash Conversion Cycle (CCC)	83.83	132.82	164.59	65.24	5.42	31.56	59.51	85.73	81.66	47.63	65.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5.26	7.72	8.95	4.56	1.63	-0.25	3.51	8.23	1.13	1.43	12
Invested Capital Turnover	4.43	3.34	2.54	4.67	14.94	85.88	41.44	12.28	17.85	77.66	19.64
Increase / (Decrease) in Invested Capital	2.46	2.46	1.23	-4.39	-2.93	-1.89	3.76	4.72	-7.10	0.30	10
Enterprise Value (EV)	160	124	238	166	238	280	227	105	80	361	443
Market Capitalization	160	125	283	189	257	297	255	125	107	405	508
Book Value per Share	$0.05	$0.26	$1.12	$0.49	$0.34	$0.27	$0.46	$0.39	$0.38	$0.60	$0.96
Tangible Book Value per Share	$0.05	$0.25	$1.08	$0.47	$0.32	$0.25	$0.45	$0.38	$0.37	$0.60	$0.89
Total Capital	11	11	54	27	20	16	32	29	28	46	77
Total Debt	5.54	0.60	0.51	0.00	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	3.79	0.34	0.31	0.00	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Net Debt	-0.01	-1.06	-45	-23	-19	-17	-28	-20	-27	-45	-65
Capital Expenditures (CapEx)	0.53	1.50	-4.79	1.32	0.74	0.12	0.41	0.33	0.15	0.00	0.29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.16	5.48	3.90	-0.52	-0.36	-0.95	3.07	8.26	1.59	1.49	12
Debt-free Net Working Capital (DFNWC)	8.71	7.12	49	22	18	16	31	29	29	46	77
Net Working Capital (NWC)	6.96	6.87	49	22	18	16	31	29	29	46	77
Net Nonoperating Expense (NNE)	1.32	0.89	-0.09	10	10	6.03	8.18	3.50	1.02	-1.09	-1.83
Net Nonoperating Obligations (NNO)	-0.01	-2.25	-45	-23	-19	-17	-28	-20	-27	-45	-65
Total Depreciation and Amortization (D&A)	0.33	0.42	0.72	0.84	2.37	1.51	1.63	1.88	1.03	0.81	0.79
Debt-free, Cash-free Net Working Capital to Revenue	17.67%	25.30%	18.38%	-1.65%	-0.77%	-1.61%	4.56%	11.46%	1.90%	1.50%	9.35%
Debt-free Net Working Capital to Revenue	48.70%	32.88%	232.47%	70.01%	39.87%	26.57%	46.39%	39.83%	34.60%	46.34%	59.41%
Net Working Capital to Revenue	38.92%	31.70%	231.55%	70.01%	39.87%	26.57%	46.39%	39.83%	34.60%	46.34%	59.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.03)	($0.08)	($0.26)	($0.61)	($0.56)	($0.33)	($0.40)	($0.24)	($0.07)	$0.11	$0.22
Adjusted Weighted Average Basic Shares Outstanding	109.53M	37.91M	54.84M	55.29M	59.79M	66.74M	67.19M	69.73M	74.99M	75.93M	79.18M
Adjusted Diluted Earnings per Share	($0.03)	($0.08)	($0.26)	($0.61)	($0.56)	($0.33)	($0.40)	($0.24)	($0.07)	$0.11	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	109.53M	37.91M	54.84M	55.29M	59.79M	66.74M	67.19M	69.73M	74.99M	78.13M	85.44M
Adjusted Basic & Diluted Earnings per Share	($0.03)	($0.08)	($0.26)	($0.61)	($0.56)	($0.33)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	107.63M	37.29M	44.60M	55.01M	57.06M	61.07M	68.31M	74.84M	75.31M	77.75M	80.08M
Normalized Net Operating Profit after Tax (NOPAT)	-1.45	-2.03	-11	-23	-22	-14	-19	-13	-3.92	7.46	16
Normalized NOPAT Margin	-8.09%	-9.39%	-54.07%	-73.58%	-47.33%	-23.45%	-28.10%	-18.10%	-4.69%	7.49%	12.02%
Pre Tax Income Margin	-14.72%	-16.39%	-77.97%	-105.57%	-69.45%	-33.62%	-40.22%	-25.85%	-5.91%	8.89%	14.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.64	-4.49	-107.04	-420.72	0.00	-279.63	-492.24	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-2.55	-3.15	-74.93	-293.93	0.00	-195.74	-344.57	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-4.57	-6.82	-75.76	-437.44	0.00	-281.38	-499.67	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-3.48	-5.47	-43.65	-310.65	0.00	-197.49	-352.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-1.76%	0.00%	0.00%	0.00%	0.00%	0.00%	1.44%

This table displays calculated financial ratios and metrics derived from Niagen Bioscience's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	78,769,662.00	79,752,957.00	79,806,139.00	80,080,488.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	78,769,662.00	79,752,957.00	79,806,139.00	80,080,488.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	0.05	0.06	0.05	0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.25%	0.95%	-1.79%	11.89%	31.21%	37.41%	37.59%	36.84%	32.86%	16.19%	3.26%
EBITDA Growth	73.28%	52.28%	66.30%	106.09%	381.55%	1,540.47%	1,064.47%	7,000.00%	145.62%	-41.30%	33.90%
EBIT Growth	62.58%	88.37%	62.86%	88.95%	239.67%	4,332.74%	752.80%	1,344.14%	164.42%	-42.54%	33.28%
NOPAT Growth	62.58%	83.38%	62.86%	88.95%	299.53%	4,332.74%	1,002.63%	1,816.47%	152.19%	-44.05%	-67.99%
Net Income Growth	2.64%	108.04%	74.13%	99.32%	295.83%	6,197.37%	1,129.07%	24,160.00%	143.77%	-42.44%	24.79%
EPS Growth	0.00%	0.00%	66.67%	100.00%	300.00%	0.00%	700.00%	0.00%	150.00%	-50.00%	16.67%
Operating Cash Flow Growth	110.59%	297.87%	-89.43%	-108.05%	782.58%	1,222.50%	2,572.20%	573.48%	5.64%	-92.09%	-115.15%
Free Cash Flow Firm Growth	185.40%	220.90%	502.69%	-214.16%	-97.48%	-1.79%	110.72%	196.46%	-325.85%	-199.64%	-332.22%
Invested Capital Growth	-93.24%	-86.26%	-71.58%	280.78%	268.41%	26.79%	-119.55%	31.34%	224.00%	719.04%	5,923.25%
Revenue Q/Q Growth	-4.07%	8.73%	4.52%	2.65%	12.49%	13.86%	4.66%	2.09%	9.22%	-0.43%	-6.99%
EBITDA Q/Q Growth	62.66%	32.48%	-9.11%	133.43%	1,626.32%	245.48%	-26.95%	-31.93%	31.06%	-3.30%	55.22%
EBIT Q/Q Growth	50.48%	85.35%	-335.12%	64.98%	725.78%	343.88%	-32.89%	-33.26%	33.00%	-3.54%	55.65%
NOPAT Q/Q Growth	50.48%	79.08%	-204.58%	64.98%	993.97%	343.88%	-35.05%	-33.40%	31.35%	-5.54%	-61.26%
Net Income Q/Q Growth	56.23%	111.89%	-531.58%	96.95%	12,620.00%	282.27%	-29.47%	-28.72%	26.85%	-9.74%	52.90%
EPS Q/Q Growth	66.67%	0.00%	0.00%	100.00%	0.00%	400.00%	-40.00%	-33.33%	25.00%	0.00%	40.00%
Operating Cash Flow Q/Q Growth	-87.93%	63.89%	-54.55%	-189.49%	1,423.86%	145.58%	-8.16%	-84.14%	195.36%	-81.61%	-275.85%
Free Cash Flow Firm Q/Q Growth	231.24%	5.33%	-57.04%	-176.16%	107.32%	4,001.20%	-7.82%	-65.14%	-117.14%	-1,632.31%	-124.39%
Invested Capital Q/Q Growth	-28.09%	111.40%	22.55%	104.40%	-30.43%	-27.25%	-118.90%	1,473.06%	71.62%	83.92%	34.36%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.40%	61.04%	60.74%	60.22%	63.49%	62.48%	63.42%	65.00%	64.52%	64.14%	63.47%
EBITDA Margin	-3.59%	-2.23%	-2.32%	0.50%	7.69%	23.34%	16.30%	10.87%	13.04%	12.66%	21.13%
Operating Margin	-5.88%	-0.79%	-3.30%	-1.13%	6.26%	24.42%	15.66%	10.24%	12.46%	12.07%	5.01%
EBIT Margin	-5.88%	-0.79%	-3.30%	-1.13%	6.26%	24.42%	15.66%	10.24%	12.46%	12.07%	20.21%
Profit (Net Income) Margin	-4.92%	0.54%	-2.22%	-0.07%	7.34%	24.65%	16.61%	11.60%	13.47%	12.21%	20.07%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	95.92%	96.79%	96.57%	95.38%	93.40%	93.81%
Interest Burden Percent	83.61%	-67.86%	67.31%	5.86%	117.23%	105.25%	109.62%	117.33%	113.31%	108.27%	105.90%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.21%	3.43%	4.63%	6.60%	6.19%
Return on Invested Capital (ROIC)	-81.23%	-14.15%	-61.36%	-37.71%	458.17%	1,896.07%	2,933.40%	350.82%	354.79%	221.51%	78.99%
ROIC Less NNEP Spread (ROIC-NNEP)	-80.45%	-15.33%	-61.43%	-38.32%	457.24%	1,895.88%	2,932.33%	349.62%	353.67%	220.93%	71.07%
Return on Net Nonoperating Assets (RNNOA)	66.38%	12.82%	54.68%	35.95%	-438.66%	-1,830.65%	-2,893.55%	-325.48%	-325.54%	-197.19%	-63.06%
Return on Equity (ROE)	-14.85%	-1.33%	-6.68%	-1.76%	19.51%	65.42%	39.85%	25.35%	29.25%	24.32%	15.93%
Cash Return on Invested Capital (CROIC)	60.84%	67.95%	13.94%	-206.90%	-78.93%	558.04%	0.00%	464.92%	338.43%	79.57%	-23.27%
Operating Return on Assets (OROA)	-9.89%	-1.22%	-5.09%	-1.80%	10.44%	39.46%	24.95%	16.36%	20.10%	17.89%	26.94%
Return on Assets (ROA)	-8.27%	0.82%	-3.43%	-0.11%	12.24%	39.84%	26.48%	18.53%	21.72%	18.09%	26.76%
Return on Common Equity (ROCE)	-14.85%	-1.33%	-6.68%	-1.76%	19.51%	65.42%	39.85%	25.35%	29.25%	24.32%	15.93%
Return on Equity Simple (ROE_SIMPLE)	-23.69%	0.00%	-12.19%	-4.40%	4.32%	0.00%	25.49%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-0.80	-0.17	-0.51	-0.18	1.60	7.11	4.62	3.08	4.04	3.82	1.48
NOPAT Margin	-4.12%	-0.79%	-2.31%	-0.79%	6.26%	24.42%	15.15%	9.89%	11.89%	11.28%	4.70%
Net Nonoperating Expense Percent (NNEP)	-0.78%	1.18%	0.08%	0.60%	0.93%	0.19%	1.07%	1.21%	1.11%	0.58%	7.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.59%	-1.77%	-	-	15.43%	8.35%	4.79%	5.72%	4.99%	1.80%
Cost of Revenue to Revenue	38.60%	38.96%	39.26%	39.78%	36.51%	37.52%	36.58%	35.00%	35.48%	35.86%	36.53%
SG&A Expenses to Revenue	29.96%	25.60%	24.16%	24.91%	24.64%	3.62%	17.01%	23.35%	20.98%	22.10%	23.02%
R&D to Revenue	6.37%	5.47%	9.46%	5.79%	5.04%	4.52%	4.13%	5.04%	5.28%	5.05%	4.71%
Operating Expenses to Revenue	67.28%	61.83%	64.04%	61.34%	57.22%	38.06%	47.76%	54.76%	52.06%	52.06%	58.46%
Earnings before Interest and Taxes (EBIT)	-1.15	-0.17	-0.73	-0.26	1.60	7.11	4.77	3.19	4.24	4.09	6.36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-0.70	-0.47	-0.52	0.11	1.97	6.80	4.97	3.38	4.43	4.29	6.65
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.01	3.78	9.05	6.71	8.06	8.79	9.69	17.68	10.53	6.63	4.29
Price to Tangible Book Value (P/TBV)	4.09	3.84	9.20	6.81	8.16	8.86	9.75	17.76	10.57	7.16	4.60
Price to Revenue (P/Rev)	1.31	1.29	3.15	2.41	3.02	4.07	4.97	9.76	5.97	3.92	2.71
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	186.64	47.39	38.03	64.02	36.42	29.20	18.95
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.54%	2.11%	2.63%	1.56%	2.75%	3.42%	5.28%
Enterprise Value to Invested Capital (EV/IC)	154.72	70.82	169.20	62.95	124.18	251.43	0.00	288.79	106.45	37.70	18.16
Enterprise Value to Revenue (EV/Rev)	0.99	0.96	2.82	2.08	2.67	3.62	4.46	9.24	5.45	3.42	2.20
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	125.77	42.22	34.29	61.57	33.86	26.28	15.46
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	547.56	46.67	36.35	64.46	35.22	27.56	16.24
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	547.56	48.33	37.57	66.65	36.63	28.47	23.15
Enterprise Value to Operating Cash Flow (EV/OCF)	13.48	11.26	50.76	165.74	58.62	29.78	24.41	50.66	31.75	32.79	64.74
Enterprise Value to Free Cash Flow (EV/FCFF)	32.19	25.18	537.13	0.00	0.00	50.38	33.26	70.53	48.07	84.45	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.83	-0.84	-0.89	-0.94	-0.96	-0.97	-0.99	-0.93	-0.92	-0.89	-0.89
Leverage Ratio	2.05	1.91	1.89	1.85	1.78	1.65	1.61	1.53	1.47	1.42	1.42
Compound Leverage Factor	1.72	-1.30	1.27	0.11	2.09	1.74	1.76	1.80	1.67	1.54	1.51
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-0.37	-0.28	3.46	2.63	5.27	9.84	11.68	24.50	16.13	10.24	6.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.43	2.40	2.52	2.76	2.95	3.57	3.66	3.88	4.12	4.86	4.61
Quick Ratio	1.67	1.58	1.76	2.00	2.23	2.92	3.01	3.14	3.21	3.74	3.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	6.58	6.93	2.98	-2.27	0.17	6.81	6.28	2.19	-0.37	-6.49	-15
Operating Cash Flow to CapEx	1,523.08%	3,090.48%	719.51%	-2,200.00%	8,524.39%	0.00%	24,634.38%	925.93%	15,383.33%	672.28%	-1,957.38%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.68	1.53	1.54	1.60	1.67	1.62	1.59	1.60	1.61	1.48	1.33
Accounts Receivable Turnover	16.12	12.19	10.51	12.28	14.44	15.32	15.81	13.31	15.99	14.78	12.96
Inventory Turnover	2.37	2.25	2.66	2.86	3.05	3.21	3.42	3.27	3.07	3.12	2.65
Fixed Asset Turnover	32.80	33.86	35.47	39.42	45.71	51.66	59.06	66.98	77.53	85.09	88.33
Accounts Payable Turnover	3.66	3.29	3.85	3.70	4.39	4.05	4.37	3.88	4.58	4.79	3.90
Days Sales Outstanding (DSO)	22.65	29.95	34.73	29.72	25.28	23.82	23.09	27.42	22.83	24.69	28.16
Days Inventory Outstanding (DIO)	153.90	162.53	137.25	127.83	119.64	113.87	106.80	111.79	118.90	116.90	137.91
Days Payable Outstanding (DPO)	99.75	110.82	94.77	98.72	83.14	90.06	83.58	93.97	79.62	76.27	93.67
Cash Conversion Cycle (CCC)	76.79	81.66	77.21	58.83	61.77	47.63	46.32	45.24	62.11	65.32	72.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.54	1.13	1.39	2.83	1.97	1.43	-0.27	3.72	6.39	12	16
Invested Capital Turnover	19.72	17.85	26.56	47.85	73.16	77.66	193.59	35.49	29.85	19.64	16.82
Increase / (Decrease) in Invested Capital	-7.38	-7.10	-3.49	2.09	1.44	0.30	-1.66	0.89	4.42	10	16
Enterprise Value (EV)	83	80	235	178	245	361	481	1,075	680	443	287
Market Capitalization	110	107	262	206	277	405	536	1,135	744	508	353
Book Value per Share	$0.36	$0.38	$0.38	$0.41	$0.45	$0.60	$0.71	$0.82	$0.89	$0.96	$1.03
Tangible Book Value per Share	$0.36	$0.37	$0.38	$0.40	$0.45	$0.60	$0.71	$0.81	$0.88	$0.89	$0.96
Total Capital	27	28	29	31	34	46	55	64	71	77	82
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-27	-27	-28	-28	-32	-45	-56	-60	-64	-65	-67
Capital Expenditures (CapEx)	0.03	0.02	0.04	0.01	0.04	0.00	0.03	0.14	0.02	0.10	0.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.96	1.59	1.96	3.55	2.04	1.49	-0.24	3.88	6.61	12	16
Debt-free Net Working Capital (DFNWC)	28	29	30	31	34	46	55	64	71	77	82
Net Working Capital (NWC)	28	29	30	31	34	46	55	64	71	77	82
Net Nonoperating Expense (NNE)	0.16	-0.28	-0.02	-0.16	-0.28	-0.07	-0.44	-0.53	-0.54	-0.32	-4.84
Net Nonoperating Obligations (NNO)	-27	-27	-28	-28	-32	-45	-56	-60	-64	-65	-67
Total Depreciation and Amortization (D&A)	0.45	-0.30	0.22	0.37	0.37	-0.31	0.20	0.20	0.20	0.20	0.29
Debt-free, Cash-free Net Working Capital to Revenue	1.16%	1.90%	2.36%	4.15%	2.22%	1.50%	-0.22%	3.33%	5.30%	9.35%	12.08%
Debt-free Net Working Capital to Revenue	33.27%	34.60%	35.50%	36.73%	37.56%	46.34%	51.31%	55.33%	56.86%	59.41%	63.10%
Net Working Capital to Revenue	33.27%	34.60%	35.50%	36.73%	37.56%	46.34%	51.31%	55.33%	56.86%	59.41%	63.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.01)	$0.00	($0.01)	$0.00	$0.02	$0.10	$0.07	$0.05	$0.06	$0.04	$0.08
Adjusted Weighted Average Basic Shares Outstanding	75.05M	74.99M	75.23M	75.56M	75.97M	75.93M	77.81M	79.25M	79.78M	79.18M	79.92M
Adjusted Diluted Earnings per Share	($0.01)	$0.00	($0.01)	$0.00	$0.02	$0.10	$0.06	$0.04	$0.05	$0.05	$0.07
Adjusted Weighted Average Diluted Shares Outstanding	75.05M	74.99M	75.23M	75.56M	77.77M	78.13M	83.23M	86.24M	86.62M	85.44M	84.57M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	75.12M	75.31M	75.54M	75.93M	76.38M	77.75M	78.77M	79.75M	79.81M	80.08M	79.64M
Normalized Net Operating Profit after Tax (NOPAT)	-0.80	-0.12	-0.51	-0.18	1.12	4.98	4.62	3.08	4.04	3.82	1.48
Normalized NOPAT Margin	-4.12%	-0.55%	-2.31%	-0.79%	4.38%	17.09%	15.15%	9.89%	11.89%	11.28%	4.70%
Pre Tax Income Margin	-4.92%	0.54%	-2.22%	-0.07%	7.34%	25.70%	17.16%	12.01%	14.12%	13.07%	21.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.44%	13.98%

Financials Breakdown Chart

Key Financial Trends

Niagen Bioscience (NASDAQ:NAGE) delivered a mixed first quarter of 2026, with strong profitability on the income statement but weaker cash generation from operations. The company reported $31.5 million in revenue, up from $29.1 million in Q4 2024 and roughly in line with recent quarterly results, while net income came in at $6.3 million. However, operating cash flow was negative in the quarter, and a one-time divestiture helped boost investing cash flow.

Revenue and profitability trends have improved meaningfully versus 2024. In Q1 2026, revenue rose to $31.5 million from $22.2 million in Q1 2024, while gross profit increased to $20.0 million from $13.5 million. Operating income was $1.6 million, reversing the operating losses seen in early 2024. The company has also moved from a loss of $0.01 per share in Q1 2024 to $0.08 per share in Q1 2026 on a basic basis.

Margins were solid, but quarter-to-quarter operating momentum softened. Compared with Q4 2025, revenue dipped slightly from $33.8 million to $31.5 million, and operating income fell from $4.1 million to $1.6 million. Marketing and operating expense discipline still appears important, as marketing expense was $9.7 million in Q1 2026, down from $10.4 million in Q4 2025, but still a major cost center.

Cash generation is the biggest swing factor. Q1 2026 operating cash flow was negative $1.2 million, compared with positive $679,000 in Q4 2025 and positive $8.6 million in Q4 2024. The quarter benefited from $5.8 million in divestiture proceeds, which lifted investing cash flow to $5.2 million and helped total cash increase by $1.8 million.

The balance sheet remains strong, with plenty of liquidity. Cash and equivalents totaled $66.5 million at March 31, 2026, up from $55.6 million at March 31, 2025 and $27.6 million at March 31, 2024. Total current assets were $105.1 million versus total current liabilities of $22.8 million, suggesting the company remains well-capitalized for near-term operations.

Revenue growth since 2024 has been strong, with quarterly sales rising from about $22.2 million in Q1 2024 to $31.5 million in Q1 2026.
Profitability has improved materially, with Q1 2026 net income of $6.3 million versus a loss of $492,000 in Q1 2024.
Gross profit expanded significantly, indicating the company is capturing more profit dollars from each sales dollar than it did two years ago.
Liquidity is ample, with $66.5 million in cash and equivalents and current assets far exceeding current liabilities.
Shareholders’ equity improved year over year, rising to $82.3 million from $55.3 million in Q1 2025.
A divestiture boosted Q1 2026 cash flow, adding $5.8 million and making investing cash flow look unusually strong for the period.
Marketing remains a large expense line, so future margin expansion may depend on whether this spending converts into faster revenue growth.
Operating cash flow turned negative in Q1 2026, which is a caution sign even though earnings were positive.
Quarterly operating income declined sequentially, dropping from $4.1 million in Q4 2025 to $1.6 million in Q1 2026.
Retained earnings remain deeply negative at -$158.2 million, reflecting the company’s long history of cumulative losses.

Bottom line: Niagen Bioscience shows a clear multi-year turnaround in revenue and profitability, and the balance sheet is in good shape. Still, investors should watch whether the company can convert earnings into consistent operating cash flow and whether the recent step-down in quarterly operating income is temporary or a sign of pressure on margins.

07/25/26 04:51 PM ETAI Generated. May Contain Errors.

Niagen Bioscience Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Niagen Bioscience's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Niagen Bioscience's net income appears to be on a downward trend, with a most recent value of $17.38 million in 2025, falling from -$2.77 million in 2015. The previous period was $8.55 million in 2024. Check out Niagen Bioscience's forecast to explore projected trends and price targets.

Niagen Bioscience's total operating income in 2025 was $16.28 million, based on the following breakdown:

Total Gross Profit: $83.19 million
Total Operating Expenses: $66.91 million

Over the last 10 years, Niagen Bioscience's total revenue changed from $17.88 million in 2015 to $129.42 million in 2025, a change of 623.6%.

Niagen Bioscience's total liabilities were at $29.87 million at the end of 2025, a 34.7% increase from 2024, and a 121.7% increase since 2015.

In the past 10 years, Niagen Bioscience's cash and equivalents has ranged from $0.00 in 2021 to $64.79 million in 2025, and is currently $64.79 million as of their latest financial filing in 2025.

Over the last 10 years, Niagen Bioscience's book value per share changed from 0.05 in 2015 to 0.96 in 2025, a change of 1,885.5%.

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Financial statements for NASDAQ:NAGE last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Niagen Bioscience (NAGE) Financials

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Niagen Bioscience (NAGE) Financials

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