ChromaDex Corporation (CDXC): History, Ownership, Mission, How It Works & Makes Money

How does a bioscience company like ChromaDex Corporation (CDXC)-which rebranded to Niagen Bioscience Inc. in March 2025-transition from a pure research focus to a profitable leader in the healthy aging space? After delivering a record-breaking 2024 with $99.6 million in net sales and a net income of $8.6 million, the company is projecting approximately 18% revenue growth for the 2025 fiscal year. That growth isn't just a projection; it's grounded in the patented Niagen ingredient and its expansion into clinical settings, with pharmaceutical-grade Niagen available in over 475 U.S. wellness clinics and a goal to defintely double its Niagen IV clinic presence by year-end. So, how exactly does this science-backed strategy translate into a sustainable business model, and what does it mean for the rapidly expanding longevity market?

ChromaDex Corporation (CDXC) History

You're looking for the bedrock of a company that just rebranded in 2025, and honestly, the story of ChromaDex Corporation, now Niagen Bioscience, Inc., is a classic pivot from a niche science service to a consumer-facing bioscience leader. It started in the analytical chemistry world, but the real money and mission came from betting big on one single molecule: Nicotinamide Riboside (NR). That decision transformed a small standards company into a publicly traded firm with a clear focus on NAD+ (nicotinamide adenine dinucleotide) research and healthy aging.

Given Company's Founding Timeline

Year established

The company was initially established in 1999, starting as a provider of analytical testing and reference standards for the natural products industry.

Original location

The company is headquartered in Los Angeles, California, though early operations were also noted in Irvine, California.

Founding team members

The company was co-founded by Frank Jaksch, who led the business through its early phases as CEO and currently serves as Co-Founder and Chairman of the Board.

Initial capital/funding

The exact initial capital from the 1999 founding is not publicly disclosed, but the company later raised substantial capital to fuel its pivot to the ingredient business. For instance, a 2017 funding round raised $48 million to support research and development, and a 2021 private placement brought in approximately $25.0 million.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's trajectory fundamentally changed when it moved from just selling reference standards to owning and commercializing a high-value, patented ingredient. This was a high-risk, high-reward move that paid off, but it came with a lot of legal friction. You can see the impact of this focus in the latest financials: for the third quarter of 2025, Niagen Bioscience reported net sales of $34.0 million, a 33% year-over-year increase, and net income of $4.6 million.

The most significant transformative decisions were:

• The Niagen Bet: Licensing the patents for Nicotinamide Riboside (NR) in 2011 was the single biggest shift. It moved the company from a B2B analytical service to a B2C nutraceutical and pharmaceutical pipeline.
• Protecting IP: The company has been relentless in legal battles to protect its intellectual property (IP) around Niagen. This commitment to scientific rigor and patent defense is defintely what underpins its premium market position and valuation.
• The 2025 Rebrand: The name change to Niagen Bioscience, Inc. in March 2025, with the new NASDAQ ticker NAGE, cemented the company's focus on its core asset and the broader NAD+ category. It's a very clear signal to the market about where the future value lies.
• Clinical Expansion: In 2024 and 2025, the company expanded its pharmaceutical-grade Niagen (Niagen+) into clinical settings, including Niagen IV and injections, which are available by prescription. This is a crucial step in moving beyond dietary supplements into the higher-margin medical space.

To be fair, this aggressive growth strategy requires a lot of capital and operating efficiency. The company ended Q3 2025 with a strong cash position of $64.3 million and no debt, which gives them the flexibility to continue this dual-track growth in consumer and clinical markets. If you want to dive deeper into the current market sentiment and who is funding this growth, you should check out Exploring ChromaDex Corporation (CDXC) Investor Profile: Who's Buying and Why?

ChromaDex Corporation (CDXC) Ownership Structure

As a seasoned analyst, I see that control of ChromaDex Corporation-now officially known as Niagen Bioscience, Inc. (NASDAQ: NAGE) since March 2025-is a balanced mix, though large institutional and insider holdings drive the strategic direction.

This structure means you have significant professional scrutiny from major funds, but also strong alignment with management, which holds a substantial equity stake. The company is projecting strong financial momentum for the current year, with net sales expected to reach approximately $117.53 million for the 2025 fiscal year, up from $99.6 million in 2024.

Given Company's Current Status

Niagen Bioscience, Inc., is a publicly traded company listed on the Nasdaq Stock Market. It was formerly known as ChromaDex Corporation, trading under the ticker CDXC until the corporate name change and rebrand became effective on March 19, 2025. This move was a clear signal to the market, emphasizing its flagship ingredient, Niagen (nicotinamide riboside), and its focus on bioscience and healthy aging.

The company maintains a significant market capitalization, which means it is subject to the rigorous financial reporting and governance standards of the U.S. Securities and Exchange Commission (SEC). That transparency is defintely a plus for investors like you.

For a deeper dive into the company's core principles, you can review their Mission Statement, Vision, & Core Values of ChromaDex Corporation (CDXC).

Given Company's Ownership Breakdown

The ownership is split between institutional money managers, company insiders (executives and directors), and the general public, including retail investors. The high level of insider ownership is a critical factor, suggesting management's interests are closely tied to stock performance and long-term growth.

Here's the quick math on who holds the shares as of November 2025:

Given Company's Leadership

The executive team at Niagen Bioscience is a blend of media, finance, and scientific expertise, which is necessary for a consumer-facing bioscience company. Their average tenure is quite strong, at over five years, which signals stability in the strategic vision.

• Robert Fried, Chief Executive Officer (CEO): Appointed in 2018, Mr. Fried brings a decade of experience in the longevity sector, plus a background in digital media and entertainment, which is key for a consumer brand like Tru Niagen.
• Ozan Pamir, Chief Financial Officer (CFO): Mr. Pamir leads the company's financial strategy and reporting, bringing prior CFO experience from a NASDAQ-listed biotechnology company.
• Dr. Andrew Shao, Senior Vice President of Global Regulatory & Scientific Affairs: Dr. Shao is the scientific and regulatory anchor, overseeing global compliance and research strategy with over 25 years in the nutrition industry.
• Carlos Lopez, Senior Vice President and General Counsel: Oversees all legal affairs, providing strategic counsel, and previously served as General Counsel at The Vitamin Shoppe, which is valuable for navigating the dietary supplement regulatory landscape.
• Frank L. Jaksch Jr., Co-Founder and Chairman of the Board: Though no longer an executive officer, the co-founder remains a key figure, transitioning to Chairman in 2022 to focus on strategic initiatives.

ChromaDex Corporation (CDXC) Mission and Values

ChromaDex Corporation operates with a clear mandate to improve global health by pioneering the science of healthy aging, specifically through its proprietary nicotinamide riboside (NR) technology. This commitment to scientific rigor and transparency forms the cultural defintely DNA of the company, which officially changed its name to Niagen Bioscience, Inc. (NAGE) in March 2025.

The company's focus on cellular health is a core driver, and this mission is what's fueling the projected net sales growth for the 2025 fiscal year, which is expected to be between 25% to 30% year-over-year.

Given Company's Core Purpose

The company, which you know as ChromaDex Corporation, is built on the belief that scientific validation is the only way to earn consumer trust in the nutraceutical space (dietary supplements). They invest heavily in clinical trials and research, a practice that sets them apart from many competitors.

Here's the quick math: The company reported net sales of $99.6 million in 2024; a 25% to 30% increase for 2025 would put their net sales in the range of $124.5 million to $129.48 million. This growth is a direct reflection of their mission's market acceptance.

Official mission statement

The formal mission of ChromaDex Corporation centers on leveraging breakthrough science to positively impact the human aging process.

• Improve global health and wellness through innovative ingredient technologies.
• Transform healthy aging through breakthrough nicotinamide riboside (NR) technology.
• Uncover the full potential of NAD+ (nicotinamide adenine dinucleotide)-a vital coenzyme crucial for cellular energy and repair-to combat age-related health changes.

Vision statement

While a single, stiff vision statement isn't always used, the company's communications and actions point to a clear, ambitious goal for its industry leadership.

• Lead the nutraceutical industry through scientific innovation.
• Set new standards for product quality, safety, and transparency.
• Be recognized as a trusted source of health and wellness solutions.

The company's core values are what make this vision achievable: they emphasize scientific rigor, safety, quality, and ethical business practices in everything they do.

Given Company slogan/tagline

ChromaDex Corporation uses taglines that directly connect their patented science to the consumer benefit, focusing on their flagship ingredient, Niagen® (nicotinamide riboside).

• Niagen®: Cellular Health, Simplified. Healthy Aging, Amplified.
• TRU NIAGEN® is helping the world AGE BETTER®.

The company is the global authority on NAD+ research, and that focus is their entire brand. For a deeper dive into how these values translate into financial performance, you should read Breaking Down ChromaDex Corporation (CDXC) Financial Health: Key Insights for Investors.

ChromaDex Corporation (CDXC) How It Works

ChromaDex Corporation, which officially changed its name to Niagen Bioscience, Inc. (NAGE) in March 2025, operates as a bioscience company focused on nicotinamide adenine dinucleotide (NAD+) research and commercialization. The company creates value by translating its patented ingredient, Niagen® (nicotinamide riboside or NR), from scientific discovery into a portfolio of consumer and pharmaceutical-grade products that boost cellular NAD+ levels, a coenzyme vital for metabolic function and healthy aging.

ChromaDex Corporation's Product/Service Portfolio

ChromaDex Corporation's Operational Framework

The company's operational framework is built around science-first validation, which is a key differentiator in the crowded supplement space. It's a lean, asset-light model that focuses on intellectual property and commercialization, not heavy manufacturing.

• Scientific Research and Development: Invests in clinical trials and academic collaborations with over 250 research institutions globally to validate Niagen's efficacy and explore new applications for NAD+ precursors, driving future product development.
• Strategic Manufacturing: Uses third-party strategic manufacturing partnerships to ensure a reliable supply of high-quality Niagen®, which helps keep capital expenditure low and allows for a strong gross margin, which was approximately 61.8% in 2024.
• Multi-Channel Sales: Employs a multi-channel distribution strategy, with a heavy focus on high-margin direct-to-consumer (DTC) e-commerce sales for Tru Niagen®, plus business-to-business (B2B) sales of the Niagen® ingredient to partners.
• Financial Trajectory: Following a strong 2024 with net sales of $99.6 million, the company projects approximately 18% year-over-year revenue growth in 2025, aiming for net sales around $117.5 million. Here's the quick math: that growth is well ahead of the sector median.

If you want to dive deeper into the financial mechanics, you can read Breaking Down ChromaDex Corporation (CDXC) Financial Health: Key Insights for Investors.

ChromaDex Corporation's Strategic Advantages

You need to see the competitive landscape clearly, and for ChromaDex Corporation, their advantages are rooted in science and legal protection. Honestly, this is what separates them from the rest of the nutraceutical pack.

• Intellectual Property (IP) Moat: Holds a robust, global patent portfolio protecting Niagen® (nicotinamide riboside) and other NAD+ precursors, which creates a significant barrier to entry against generic competitors and copycat products.
• Scientific Gold Standard: Positioned as the global authority on NAD+ science, collaborating with Nobel Prize-winning researchers and maintaining rigorous quality control, which builds significant consumer trust and professional credibility.
• Pharmaceutical-Grade Expansion: The launch of the Niagen Plus™ line, offering pharmaceutical-grade Niagen® IV and injections through U.S. FDA-registered facilities, diversifies their revenue and opens a higher-value clinical market.
• Strong Balance Sheet: The company ended 2024 with $44.7 million in cash and no debt, giving them the flexibility to invest in R&D and brand expansion without the pressure of external financing.

What this estimate hides is the expected increase in general and administrative expenses, which management projected to climb by $5 million to $6 million in 2025 as they invest in brand and operations. Still, the IP protection is defintely the core asset.

ChromaDex Corporation (CDXC) How It Makes Money

ChromaDex Corporation generates revenue primarily by selling its proprietary, patented ingredient, nicotinamide riboside (NR), branded as Niagen, through two main channels: direct-to-consumer (DTC) sales of its finished product, Tru Niagen, and business-to-business (B2B) sales of the ingredient itself to partners for use in their own products. Honestly, it's a classic biotech/nutraceutical model-sell the finished product and license the core science.

ChromaDex Corporation's Revenue Breakdown

Based on the company's full-year 2024 results and the projected 18% year-over-year revenue growth for the full fiscal year 2025, total net sales are expected to reach approximately $117.5 million. This growth is heavily weighted toward the ingredient business and e-commerce expansion.

Business Economics

ChromaDex employs a premium pricing strategy for its Niagen products, which is supported by its extensive patent portfolio and the clinical research backing its flagship ingredient, nicotinamide riboside (NR). This scientific rigor lets them charge more.

• Gross Margin Strength: The company reported a strong gross margin of 61.8% for the full year 2024, reflecting efficient cost management and the high-margin nature of its patented ingredient sales.
• Cost Control: Operating expenses are expected to climb by $5 million to $6 million in 2025 due to increased spending on brand expansion and marketing, which is a necessary investment for a growth company, but it puts pressure on near-term operating income.
• DTC vs. B2B Mix: The shift toward higher-margin e-commerce sales of Tru Niagen and the rapid growth of the ingredient business, particularly the pharmaceutical-grade Niagen for clinical use (like Niagen IV), are key drivers for margin expansion into the mid-60s range.
• Intellectual Property (IP): The company's business model is fundamentally protected by its IP, which creates a significant barrier to entry for competitors trying to sell generic NR. This is defintely the core economic moat.

ChromaDex Corporation's Financial Performance

The company has achieved a significant financial turnaround, moving from a net loss to profitability, which is a crucial indicator of business health and sustainability. This inflection point makes the 2025 outlook much more compelling.

• Total Net Sales (FY 2024): Reached $99.6 million, marking a 19% increase year-over-year.
• Net Income (FY 2024): The company reported a net income of $8.6 million, a major improvement from the prior year's net loss.
• Cash Position: ChromaDex ended 2024 in a strong position with $44.7 million in cash and no debt, giving it flexibility for strategic investments in R&D and market expansion.
• Operating Cash Flow (FY 2024): Generated a positive cash flow from operating activities of $12.1 million.
• Valuation Metric: The stock is priced for growth, with a forward Price-to-Earnings (P/E) ratio projected around 42.26x for 2025, which means investors are banking on continued, rapid earnings growth to justify the current valuation.

To understand the strategic foundation of this financial engine, you should review the Mission Statement, Vision, & Core Values of ChromaDex Corporation (CDXC).

ChromaDex Corporation (CDXC) Market Position & Future Outlook

ChromaDex Corporation, now operating under the name Niagen Bioscience, Inc. (NAGE), is solidifying its position as the scientific leader in the Nicotinamide Adenine Dinucleotide (NAD+) precursor market by translating its robust patent portfolio into tangible commercial growth and profitability. The company is projecting a full-year 2025 net sales growth of between 25% to 30%, which puts its estimated 2025 revenue at approximately $124.5 million (based on the low end of the revised guidance from $99.6 million in 2024), driven by strong e-commerce performance and the expansion of its pharmaceutical-grade ingredient business.

Competitive Landscape

The NAD+ precursor market is a fragmented, high-growth space, with Nicotinamide Mononucleotide (NMN) products commanding the largest share, estimated at 45% of the total market revenue in 2025. ChromaDex Corporation, through its flagship ingredient Niagen (Nicotinamide Riboside or NR), distinguishes itself by focusing on scientific validation, which is a key differentiator against competitors, many of whom sell NMN products with less regulatory clarity. While the company is the number one healthy-aging NAD+ supplement in the U.S. consumer market, its overall market share in the broader NAD+ precursor space is estimated to be around ~3%.

Here's the quick math on the market: the total NAD+ precursor supplement market is valued at $876.2 million in 2025, so even a small percentage represents significant revenue.

Opportunities & Challenges

You're seeing the company execute well, but you also need to map the near-term landscape. The Q3 2025 results show a net income of $4.6 million and a gross margin of 64.5%, which is defintely strong, but the growth hinges on a few key levers and risks.

Industry Position

ChromaDex Corporation is positioned as the premium, science-first player in the longevity market, prioritizing clinical validation and intellectual property protection over all-out volume. This strategy has resulted in a healthy cash balance of $64.3 million and zero debt as of September 30, 2025, providing a strong buffer for continued R&D and legal defense. Their successful National Advertising Division challenge in September 2025 against a competitor's false claims underscores their commitment to a science-backed market.

• Maintain a high gross margin of 64.5% (Q3 2025), reflecting premium pricing and operational efficiency.
• Own a robust patent portfolio of over 90 patents related to NAD+ precursors, securing their long-term position against generic competition.
• Focus is shifting toward higher-margin, pharmaceutical-grade ingredient sales through the Niagen Plus line, which saw a 222% growth year-to-date in 2025.
• The core value proposition remains the extensive independent research program, which fosters collaborations with over 200 institutions globally.

To understand the foundation of this strategy, you should review the Mission Statement, Vision, & Core Values of ChromaDex Corporation (CDXC).