Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Financial Information

The following tables set forth financial information by segment:

Three months ended September 30, 2023	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total
(In thousands)
Net sales	$	17,400	$	1,424	$	671	$	—	$	19,495
Cost of sales	6,024		739		763		—		7,526
Gross profit (loss)	11,376		685		(92)		—		11,969
Operating expenses:
Sales and marketing	5,934		—		101		—		6,035
Research and development	1,142		99		—		—		1,241
General and administrative	—		—		—		5,840		5,840
Operating expenses	7,076		99		101		5,840		13,116
Operating income (loss)	$	4,300	$	586	$	(193)	$	(5,840)	$	(1,147)

Nine Months Ended September 30, 2023	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total
(In thousands)
Net sales	$	51,924	$	8,252	$	2,198	$	—	$	62,374
Cost of sales	18,387		3,852		2,292		—		24,531
Gross profit (loss)	33,537		4,400		(94)		—		37,843
Operating expenses:
Sales and marketing	19,599		37		282		—		19,918
Research and development	3,278		521		—		—		3,799
General and administrative	—		—		—		19,557		19,557
Operating expenses	22,877		558		282		19,557		43,274
Operating income (loss)	$	10,660	$	3,842	$	(376)	$	(19,557)	$	(5,431)

Three months ended September 30, 2022	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total
(In thousands)
Net sales	$	14,561	$	1,819	$	683	$	—	$	17,063
Cost of sales	5,224		899		733		—		6,856
Gross profit (loss)	9,337		920		(50)		—		10,207
Operating expenses:
Sales and marketing	5,696		12		160		—		5,868
Research and development	1,089		135		—		—		1,224
General and administrative	—		—		—		6,180		6,180
Operating expenses	6,785		147		160		6,180		13,272
Operating income (loss)	$	2,552	$	773	$	(210)	$	(6,180)	$	(3,065)

Nine Months Ended September 30, 2022	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total
(In thousands)
Net sales	$	44,018	$	4,710	$	2,326	$	—	$	51,054
Cost of sales	15,694		2,302		2,277		—		20,273
Gross profit	28,324		2,408		49		—		30,781
Operating expenses:
Sales and marketing	21,634		36		456		—		22,126
Research and development	3,204		343		—		—		3,547
General and administrative	—		—		—		22,292		22,292
Operating expenses	24,838		379		456		22,292		47,965
Operating income (loss)	$	3,486	$	2,029	$	(407)	$	(22,292)	$	(17,184)

Schedule of Disaggregation of Revenue

Disaggregated revenues are as follows:

Three Months Ended September 30, 2023	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	17,400	$	—	$	—	$	17,400
Niagen® Ingredient	—		1,424		—		1,424
Subtotal Niagen® Related	17,400		1,424		—		18,824
Other Ingredients	—		—		—		—
Reference Standards	—		—		654		654
Consulting and Other	—		—		17		17
Subtotal Other Goods and Services	—		—		671		671
Total Net Sales	$	17,400	$	1,424	$	671	$	19,495

Nine Months Ended September 30, 2023	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	51,924	$	—	$	—	$	51,924
Niagen® Ingredient	—		7,822		—		7,822
Subtotal Niagen® Related	51,924		7,822		—		59,746
Other Ingredients	—		430		—		430
Reference Standards	—		—		2,122		2,122
Consulting and Other	—		—		76		76
Subtotal Other Goods and Services	—		430		2,198		2,628
Total Net Sales	$	51,924	$	8,252	$	2,198	$	62,374

Three Months Ended September 30, 2022	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	14,561	$	—	$	—	$	14,561
Niagen® Ingredient	—		1,804		—		1,804
Subtotal Niagen® Related	14,561		1,804		—		16,365
Other Ingredients	—		15		—		15
Reference Standards	—		—		661		661
Consulting and Other	—		—		22		22
Subtotal Other Goods and Services	—		15		683		698
Total Net Sales	$	14,561	$	1,819	$	683	$	17,063

Nine Months Ended September 30, 2022	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	44,018	$	—	$	—	$	44,018
Niagen® Ingredient	—		4,389		—		4,389
Subtotal Niagen® Related	44,018		4,389		—		48,407
Other Ingredients	—		321		—		321
Reference Standards	—		—		2,248		2,248
Consulting and Other	—		—		78		78
Subtotal Other Goods and Services	—		321		2,326		2,647
Total Net Sales	$	44,018	$	4,710	$	2,326	$	51,054

Schedule of Major Customers

Percentage of net sales from major customers of the Company’s consumer products segment and ingredients segment for the periods indicated were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
Major Customers	2023		2022		2023		2022
A.S. Watson Group - Related Party	16.0	%	15.4	%	15.7	%	12.0	%

The percentage of the amounts due from major customers to total trade receivables, net for the periods indicated were as follows:

Major Customers	At September 30, 2023		At December 31, 2022
A.S. Watson Group - Related Party	52.0	%	36.6	%
Nestlé (NHSc)	*		23.6	%
Amazon Marketplaces	20.2	%	*
Life Extension	12.9	%	*

* Represents less than 10%