Business Segments and Concentrations (Tables)

12 Months Ended

Dec. 31, 2024

The following tables set forth financial information by segment:


Year Ended December 31, 2024	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total

(In thousands)
Net sales	$	76,772	$	19,814	$	3,011	$	—	$	99,597
Cost of sales	27,478		7,808		2,725		—		38,011
Gross profit	49,294		12,006		286		—		61,586
Operating expenses:

Sales and marketing:
Advertising	11,102		—		—		—		11,102
Marketing	8,346		195		4		—		8,545
Selling	9,285		40		497		—		9,822
Research and development	4,782		1,234		—		—		6,016
General and administrative	—		—		—		18,375		18,375
Operating expenses	33,515		1,469		501		18,375		53,860

Operating income (loss)	$	15,779	$	10,537	$	(215)	$	(18,375)	$	7,726


Year Ended December 31, 2023	Consumer Products segment		Ingredients segment		Analytical Reference Standards and Services segment		Corporate and other		Total

(In thousands)
Net sales	$	69,528	$	11,137	$	2,905	$	—	$	83,570
Cost of sales	24,755		4,980		3,055		—		32,790
Gross profit (loss)	44,773		6,157		(150)		—		50,780
Operating expenses:

Sales and marketing:
Advertising	10,259		—		—		—		10,259
Marketing	7,354		—		10		—		7,364
Selling	8,401		52		362		—		8,815
Research and development	4,273		685		—		—		4,958
General and administrative	—		—		—		24,983		24,983
Operating expenses	30,287		737		372		24,983		56,379

Operating income (loss)	$	14,486	$	5,420	$	(522)	$	(24,983)	$	(5,599)

Disaggregated revenues are as follows:


Year Ended December 31, 2024	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	76,772	$	—	$	—	$	76,772
Food-grade Niagen®	—		17,540		—		17,540
Pharmaceutical-grade Niagen®	—		1,700		—		1,700
Subtotal Niagen® Related	76,772		19,240		—		96,012

Other Ingredients	—		574		—		574
Reference Standards	—		—		2,891		2,891
Consulting and Other	—		—		120		120
Subtotal Other Goods and Services	—		574		3,011		3,585

Total Net Sales	$	76,772	$	19,814	$	3,011	$	99,597


Year Ended December 31, 2023	Consumer Products Segment		Ingredients Segment		Analytical Reference Standards and Services Segment		Total
(In thousands)
Tru Niagen®, Consumer Product	$	69,528	$	—	$	—	$	69,528
Food-grade Niagen®	—		10,550		—		10,550
Pharmaceutical-grade Niagen®	—		—		—		—
Subtotal Niagen® Related	69,528		10,550		—		80,078

Other Ingredients	—		587		—		587
Reference Standards	—		—		2,804		2,804
Consulting and Other	—		—		101		101
Subtotal Other Goods and Services	—		587		2,905		3,492

Total Net Sales	$	69,528	$	11,137	$	2,905	$	83,570

Net sales from international sources detailed by each business segment are as follows:


	Year Ended December 31,
(In millions)	2024		2023
Consumer Products Segment	$	19.8	$	21.3
Ingredients Segment	3.6		$	2.7
Analytical Reference Standards and Services Segment	0.9		$	1.0
Total net sales from international sources	$	24.3	$	25.0

Percentage of revenues from major customers of the Company’s consumer products segment for the years indicated were as follows:

* Represents less than 10%

(1) Customer was classified as a related party for part of the year. See Note 6, Related Party Transactions for further details.

The percentage of the amounts due from major customers to total accounts receivable, net as of the periods indicated were as follows:

* Represents less than 10%

(1) Customer was classified as a related party for part of the year. See Note 6, Related Party Transactions for further details.

The Company’s major vendor who accounted for more than 10% of the Company’s total accounts payable is as follows: