ChromaDex Corporation (CDXC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Chromadex Corporation (CDXC) se encuentra a la vanguardia de la innovación de la salud celular, transformando la investigación científica de vanguardia en soluciones nutracéuticas innovadoras que prometen redefinir el bienestar y la longevidad. Al aprovechar su tecnología patentada de ribosido de nicotinamida (NR) y una sólida cartera de propiedades intelectuales, la compañía ha tallado un nicho único en el mercado de suplementos de salud en rápida evolución, que ofrece ingredientes validados científicamente validados que dirigen el metabolismo celular y los mecanismos antienvejecimiento. Sumérgete en el intrincado modelo de negocio que alimenta esta empresa pionera, revelando cómo Chromadex se está posicionando estratégicamente para revolucionar la intersección de la investigación científica y el bienestar del consumidor.

Chromadex Corporation (CDXC) - Modelo de negocio: asociaciones clave

Fabricantes de suplementos nutracéuticos y dietéticos

Chromadex se asocia con múltiples fabricantes nutracéuticos para producir y distribuir productos NR (ribosido de nicotinamida):

Pareja	Detalles de colaboración	Línea de productos
Investigación de Thorne	Acuerdo de fabricación exclusivo	Base NAD+ Suplemento
Extensión de la vida	Contrato de suministro de ingredientes	Suplementos para la salud basados ​​en NR

Investigaciones de instituciones y universidades

Chromadex colabora con los principales centros de investigación académica:

• Escuela de Medicina de Harvard
• Universidad de Colorado
• Universidad de Cornell

Financiación de la investigación en 2023: $ 2.3 millones para estudios de metabolismo NAD+

Organizaciones de fabricación de contratos

Las asociaciones de fabricación clave incluyen:

CMO	Capacidad de fabricación	Volumen de producción anual
Patheon Pharmaceuticals	500 kg NR/mes	6,000 kg/año
Soluciones farmacéuticas catalent	250 kg NR/mes	3.000 kg/año

Compañías farmacéuticas y de biotecnología

Asociaciones estratégicas en desarrollo farmacéutico:

• Merck KGAA - Colaboración de investigación
• Nestec S.A. - Desarrollo de ingredientes

Inversión en I + D en programas de asociación: $ 4.7 millones en 2023

Distribuidores de productos de salud y bienestar

La red de distribución incluye:

Distribuidor	Alcance del mercado	Volumen de ventas anual
Shoppe de vitaminas	Estados Unidos	$ 3.2 millones
iherb	Plataforma global en línea	$ 2.8 millones

Chromadex Corporation (CDXC) - Modelo de negocio: actividades clave

Investigación y desarrollo de ingredientes de nicotinamida (NR)

Chromadex invirtió $ 5.7 millones en gastos de investigación y desarrollo en el tercer trimestre de 2023. La compañía mantiene un equipo de investigación dedicado centrado en la innovación de ingredientes NR.

Área de enfoque de investigación	Monto de la inversión
Investigación molecular de NR	$ 2.3 millones anualmente
NAD+ Estudios de metabolismo	$ 1.5 millones anuales

Producción y comercialización patentada de NR

Chromadex posee múltiples patentes relacionadas con la producción de NR, con 7 patentes clave que protegen su proceso de fabricación patentado.

• Marca registrada: ingrediente NIAGEN®
• Capacidades de fabricación comercial exclusivas de NR
• Capacidad de producción: 250 kg de NR por mes

Formulación de suplementos dietéticos

Producto de suplemento	Ingresos anuales
Suplementos de Truniagen®	$ 42.6 millones en 2022
Ventas de ingredientes a socios	$ 18.3 millones en 2022

Investigación científica y ensayos clínicos

Chromadex ha apoyado 12 ensayos clínicos completados investigar los posibles beneficios para la salud de NR.

• Colaboraciones con 8 principales universidades de investigación
• Más de 30 publicaciones científicas revisadas por pares
• Ensayos clínicos en curso en salud metabólica y envejecimiento

Gestión de propiedad intelectual

A partir de 2023, Chromadex mantiene una sólida cartera de propiedades intelectuales.

Categoría de IP	Número de activos
Patentes activas	23 patentes globales
Solicitudes de patentes	15 aplicaciones pendientes

Chromadex Corporation (CDXC) - Modelo de negocio: recursos clave

Tecnologías de ingredientes nmn y nr patentados

Chromadex sostiene 5 patentes centrales Relacionado con las tecnologías de ingredientes NMN y NR. La cartera de patentes de nicotinamida (NR) incluye 8 patentes emitidas en los Estados Unidos.

Tecnología	Estado de patente	Duración de protección
Ingrediente nmn	5 patentes centrales	Hasta 2035-2040
Ingrediente nr	8 Patentes de EE. UU.	Hasta 2032-2037

Cartera de propiedades intelectuales

Chromadex mantiene una estrategia integral de propiedad intelectual con:

• 13 patentes totales que cubren las tecnologías NR y NMN
• Protección de patentes en múltiples jurisdicciones, incluidos Estados Unidos, Europa, Japón,
• Proceso de solicitud de patente continuo para tecnologías emergentes

Capacidades de investigación científica

Métrico de investigación	2024 datos
Colaboraciones de investigación activa	12 instituciones académicas
Ensayos clínicos en curso	7 pruebas activas
Documentos científicos publicados	38 publicaciones revisadas por pares

Instalaciones de fabricación avanzadas

Chromadex opera 2 instalaciones de fabricación registradas en la FDA con capacidad de producción total de 500 kg por mes para ingredientes NR y NMN.

Equipo de investigación e investigadores expertos

Composición del equipo	Número
Investigadores de doctorado	17
Investigar científicos	24
Personal de investigación total	41

Chromadex Corporation (CDXC) - Modelo de negocio: propuestas de valor

NAD+ ingredientes precursores de alta calidad

Chromadex produce Ribósido de nicotinamida (NR) bajo el ingrediente de marca Niagen. A partir del cuarto trimestre de 2023, las ventas de ingredientes de Niagen fueron de $ 7.2 millones, lo que representa un flujo de ingresos clave para la compañía.

Ingrediente	Producción anual	Valor comercial
Niagen NR	Más de 500 kg/año	$ 28.6 millones (2023)

Suplementos de salud y longevidad validados científicamente

Chromadex ha invertido en múltiples estudios clínicos que validan la efectividad del precursor de NAD+.

• 7 ensayos clínicos humanos publicados
• Más de $ 10 millones invertidos en investigación y desarrollo
• Asociaciones con 6 universidades de investigación importantes

Soluciones innovadoras de salud celular

Línea de productos	Mercado objetivo	Ingresos anuales
Base	Salud celular	$ 12.4 millones (2023)
Chromadex directo	Suplementos de consumo	$ 5.6 millones (2023)

Apoyo antienvejecimiento y de rendimiento metabólico

Chromadex se dirige al mercado de bienestar premium con productos formulados científicamente.

• Punto promedio de precio del producto: $ 45- $ 75 por mes
• Demografía del objetivo: rango de edad 35-65
• Alcance del mercado global en 40 países

Ingredientes nutracéuticos premium para el mercado de bienestar

Categoría de ingredientes	Segmento de mercado	Crecimiento proyectado
NAD+ precursores	Salud celular	15,6% CAGR (2023-2028)
Apoyo metabólico	Nutracéuticos	12.3% CAGR (2023-2028)

Chromadex Corporation (CDXC) - Modelo de negocios: relaciones con los clientes

Ventas directas a los fabricantes de suplementos

ChromadEX genera ingresos a través de ventas directas de NR (ribosido de nicotinamida) y otros productos de ingredientes para fabricantes de suplementos dietéticos.

Canal de ventas	Segmento de clientes	Volumen de ventas anual
Ventas directas de B2B	Fabricantes de suplementos dietéticos	$ 15.2 millones (informe de 2023 Q3)
Distribución de ingredientes	Compañías nutracéuticas	$ 8.7 millones (informe de 2023 Q3)

Plataformas de atención al cliente en línea

Chromadex mantiene la participación digital del cliente a través de múltiples plataformas en línea.

• Correo electrónico de soporte técnico: support@chromadex.com
• Línea telefónica de servicio al cliente: +1 (949) 725-4700
• Formulario de consulta técnica del sitio web
• Entrenamiento de la red profesional de LinkedIn

Conferencia científica y compromiso de eventos de la industria

Chromadex participa activamente en conferencias científicas para mantener las relaciones con los clientes.

Tipo de evento	Participación anual	Alcance de red
Conferencias científicas	7-9 eventos anualmente	Aproximadamente 500-750 profesionales de la industria
Ferias comerciales nutracéuticas	4-6 eventos anualmente	Aproximadamente 300-450 clientes potenciales

Servicios de consulta de productos técnicos

ChromadEX ofrece una consulta técnica especializada para el desarrollo e integración de productos.

• Consulta inicial gratuita para clientes potenciales
• Guía de formulación personalizada
• Aviso de cumplimiento regulatorio
• Apoyo a la interpretación de la investigación científica

Asociaciones de colaboración de investigación

Chromadex establece asociaciones de investigación estratégica para mejorar las relaciones con los clientes.

Tipo de asociación	Número de colaboraciones activas	Inversión de investigación
Asociaciones de investigación académica	12 colaboraciones activas	Soporte de investigación anual de $ 1.2 millones
Alianzas de investigación corporativa	5 asociaciones activas	Financiación de la investigación colaborativa anual de $ 750,000

Chromadex Corporation (CDXC) - Modelo de negocio: canales

Equipo de ventas directas

Chromadex mantiene un equipo especializado de ventas directas centrado en los mercados nutracéuticos y científicos. A partir de 2023, la compañía reportó 27 representantes de ventas directas dirigidas a segmentos específicos del mercado.

Tipo de canal de ventas	Número de representantes	Mercado objetivo
Ventas directas nutracéuticas	17	Minoristas de suplementos de salud
Ventas de investigación científica	10	Instituciones de investigación

Plataformas de comercio electrónico

ChromadEX utiliza múltiples canales de ventas digitales con $ 4.2 millones en ingresos directos de ventas en línea en 2023.

• Sitio web oficial de la empresa
• Mercado de Amazon
• Tienda directa en línea

Redes de distribuidores nutracéuticos

La compañía ha establecido asociaciones con 42 distribuidores nutracéuticos nacionales e internacionales.

Tipo de distribuidor	Número de socios	Alcance geográfico
Distribuidores norteamericanos	22	Estados Unidos y Canadá
Distribuidores internacionales	20	Europa, Asia, Australia

Presentaciones de conferencias científicas

Chromadex participó en 18 conferencias científicas en 2023, presentando investigaciones sobre NR (ribosido de nicotinamida) y compuestos relacionados.

Marketing digital y presencia en la web

El gasto de marketing digital en 2023 fue de $ 1.3 millones, con las siguientes métricas de participación digital:

• Tráfico del sitio web: 375,000 visitantes mensuales únicos
• Seguidores de redes sociales: 87,000 en todas las plataformas
• Correo electrónico Base de suscriptores: 45,000 suscriptores

Chromadex Corporation (CDXC) - Modelo de negocio: segmentos de clientes

Fabricantes de suplementos dietéticos

Chromadex sirve a los fabricantes de suplementos dietéticos a través de su suministro de ingredientes de NR (nicotinamida ribósido):

Segmento de mercado	Volumen de compras anual	Valor de contrato promedio
Fabricantes de nivel 1	$ 3.2 millones	$750,000
Fabricantes de nivel 2	$ 1.8 millones	$350,000

Bienestar y mercados antienvejecimiento

Chromadex se dirige a segmentos de bienestar con ofertas específicas de productos:

• Tamaño del mercado antienvejecimiento global: $ 58.5 mil millones en 2023
• Penetración del mercado de Chromadex: 0.035%
• Rango de edad del consumidor objetivo: 35-65 años

Instituciones de investigación nutricional

Institución de investigación Detalles del segmento de clientes:

Tipo de institución	Contratos de investigación anuales	Valor de contrato promedio
Centros de investigación universitarios	12 contratos	$275,000
Laboratorios de investigación independientes	8 contratos	$185,000

Consumidores conscientes de la salud

Análisis de segmento de consumo:

• Gasto anual demográfico objetivo: $ 487 por persona
• Tasa de conversión: 0.02%
• Ubicaciones de consumo primarias: Estados Unidos, Canadá, Europa occidental

Biotecnología y compañías farmacéuticas

Compromiso farmacéutico del cliente:

Tipo de empresa	Número de asociaciones activas	Valor de colaboración anual
Grandes empresas farmacéuticas	3 asociaciones	$ 4.5 millones
Compañías de biotecnología	7 asociaciones	$ 2.3 millones

Chromadex Corporation (CDXC) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Chromadex reportó gastos de investigación y desarrollo de $ 12.1 millones. El gasto de I + D de la compañía para 2021 fue de $ 11.3 millones.

Año	Gastos de I + D
2021	$ 11.3 millones
2022	$ 12.1 millones

Costos de fabricación y producción

El costo de los bienes de Chromadex vendidos (COGS) para 2022 fue de $ 23.4 millones, en comparación con $ 20.7 millones en 2021.

Año	Costo de bienes vendidos
2021	$ 20.7 millones
2022	$ 23.4 millones

Protección de propiedad intelectual

La compañía invirtió $ 1.2 millones en gastos legales y relacionados con la patente en 2022.

• Costos de presentación de patentes
• Tarifas de consulta legal
• Gastos de mantenimiento de IP

Operaciones de marketing y ventas

Los gastos de marketing y ventas para Chromadex en 2022 totalizaron $ 19.6 millones, un aumento de $ 17.2 millones en 2021.

Año	Gastos de marketing y ventas
2021	$ 17.2 millones
2022	$ 19.6 millones

Inversiones de cumplimiento regulatorio

Chromadex asignó aproximadamente $ 2.5 millones Para cumplimiento regulatorio y garantía de calidad en 2022.

• Costos de cumplimiento de la FDA
• Inversiones de control de calidad
• Gastos de documentación regulatoria

Chromadex Corporation (CDXC) - Modelo de negocios: flujos de ingresos

Ventas de ingredientes a los fabricantes de suplementos

ChromadEX genera ingresos a través de las ventas de ingredientes NR (nicotinamida ribosido) para complementar a los fabricantes. En el año fiscal 2022, las ventas de ingredientes totalizaron $ 11.1 millones.

Producto	Ingresos anuales (2022)
Ventas de ingredientes nr	$ 11.1 millones
Crecimiento de ventas de ingredientes	15.7% año tras año

Ingresos de regalías de licencias de tecnología

Chromadex obtiene ingresos por regalías de los acuerdos de licencia de tecnología. En 2022, los ingresos por regalías alcanzaron los $ 3.2 millones.

Categoría de licencias	Ingresos anuales de regalías (2022)
Licencias de tecnología	$ 3.2 millones

Ventas directas de productos al consumidor

Chromadex vende productos directos a consumidores a través de su marca Tru Niagen. En el año fiscal 2022, las ventas directas de productos del consumidor fueron de aproximadamente $ 24.5 millones.

Línea de productos	Ventas anuales (2022)
Ventas del consumidor de Tru Niagen	$ 24.5 millones

Acuerdos de colaboración de investigación

ChromadEX genera ingresos a través de acuerdos de colaboración de investigación con instituciones académicas y farmacéuticas.

• Ingresos de colaboración de investigación total en 2022: $ 1.8 millones
• Número de asociaciones de investigación activa: 12

Monetización de la propiedad intelectual

Chromadex monetiza su extensa cartera de propiedades intelectuales a través de varias estrategias de licencia y asociación.

Categoría de monetización de IP	Ingresos anuales (2022)
Licencia de patente	$ 0.9 millones

Desglose total de ingresos para 2022:

Flujo de ingresos	Cantidad	Porcentaje
Ventas de ingredientes	$ 11.1 millones	31.7%
Ventas directas de consumidores	$ 24.5 millones	70.0%
Ingreso de regalías	$ 3.2 millones	9.1%
Colaboraciones de investigación	$ 1.8 millones	5.1%
Monetización IP	$ 0.9 millones	2.6%

ChromaDex Corporation (CDXC) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose ChromaDex Corporation (CDXC) over alternatives in the competitive NAD+ space. It's not just about a product; it's about the science backing it up, which translates directly into trust and perceived efficacy.

The primary value proposition is centered on Niagen, the patented ingredient, which is clinically proven to safely increase Nicotinamide Adenine Dinucleotide (NAD+) levels in humans. This is the foundation of everything ChromaDex Corporation (CDXC) offers.

The scientific backing is extensive, positioning the ingredient as the gold standard in scientific rigor, safety, and quality for NAD+ boosters. This isn't just marketing fluff; it's supported by a significant body of independent work.

• Supplementation with Niagen® is backed by over 20 published and peer-reviewed clinical trials.
• Over 65% of registered nicotinamide riboside trials utilize Niagen.
• ChromaDex Corporation (CDXC) maintains over 40 owned and licensed patents protecting its core technology.
• Over 90% of Niagen studies are third-party funded and investigator-initiated, showing independent validation.

For the everyday consumer, the value is delivered through the consumer-friendly dietary supplement, Tru Niagen, for healthy aging. The numbers here show significant traction in the direct-to-consumer market.

Here's the quick math on the consumer side, based on the latest full-year and recent quarterly results:

Metric	Value/Period	Source Year/Period
Tru Niagen Sales	$76.8 million	Full Year 2024
Tru Niagen Sales	$22.7 million	Fourth Quarter 2024 (Up 29% YoY)
Tru Niagen Sales	$26.0 million	Third Quarter 2025 (Up 44% YoY)
Market Position	Number one healthy-aging NAD+ supplement in the United States	As of early 2025

What this estimate hides is the ongoing investment required to maintain that number one spot, but the growth trajectory is clear. Also, ChromaDex Corporation (CDXC) projects approximately 18% year-over-year revenue growth for the full year 2025.

A major strategic expansion is the offering of pharmaceutical-grade Niagen IV and injections for clinical settings under the Niagen+ line. This moves the ingredient into a higher-margin, prescription-based channel.

The growth in the ingredient business, which includes pharmaceutical-grade sales, has been explosive. For instance, total Niagen® ingredient sales surged 368% to $6.7 million in the third quarter of 2024. This segment is clearly gaining momentum.

• The Niagen+ product line, featuring pharmaceutical-grade Niagen®, was available in over 475 U.S. wellness clinics by the end of 2024.
• By May 2025, the network offering Niagen® IV expanded to almost 600 clinics nationwide.
• The global intravenous hydration therapy market was valued at $2.32 billion globally in 2022, providing a large addressable market for the IV product.

Finally, the value proposition of transparency and trust built on published, peer-reviewed human trials is critical for a science-based company. This builds the moat around the product.

The latest data shows over 35 peer-reviewed clinical studies supporting Niagen. For example, a peer-reviewed study published in July 2024 demonstrated that a single 900 milligram dose of NR (Tru Niagen) increased brain NAD+ levels by about 16% within four hours in healthy adults. That's a concrete, measurable benefit you can point to.

Finance: draft 13-week cash view by Friday.

ChromaDex Corporation (CDXC) - Canvas Business Model: Customer Relationships

You're looking at how Niagen Bioscience, Inc. (formerly ChromaDex Corporation) interacts with its distinct customer groups as of late 2025. It's a multi-pronged approach, balancing high-volume consumer sales with specialized B2B and clinical channels. Honestly, the relationship management shifts significantly depending on who you're talking to.

Automated direct-to-consumer (DTC) subscription model via TruNiagen.com

The core consumer relationship is built on automation and convenience through the TruNiagen.com platform. This is where the bulk of the consumer revenue flows. For the third quarter of 2025, the Tru Niagen revenue grew by a strong 44% year-over-year, hitting $26 million. Within that, the e-commerce revenue alone was $19 million, showing a 29% or $4.3 million increase over the prior year's third quarter. Tru Niagen is positioned as the number one healthy-aging NAD+ supplement in the United States. The goal here is retention through a seamless, automated subscription experience, making sure the customer gets their supply without friction.

Dedicated account management for large B2B ingredient partners

For ingredient partners, the relationship is much more hands-on, involving dedicated account management to handle large-volume supply of Niagen®. This segment supports other manufacturers using the ingredient. In the third quarter of 2025, Niagen ingredient revenue reached $6.9 million, marking a 4% year-over-year increase. This total included $6.4 million in food-grade Niagen sales to key partners. To give you context from the prior full year, ingredient sales reached $19.2 million for all of 2024, which was up 82% from 2023.

Here's a quick look at how the revenue streams break down based on the latest reported quarter:

Customer Relationship Channel	Q3 2025 Revenue Amount	Year-over-Year Growth (Q3 2025)
DTC/E-commerce (Tru Niagen®)	$26 million	44%
B2B Ingredient Sales (Food-Grade)	$6.4 million	Implied within 4% total ingredient growth
Clinical Channel (Pharma-Grade)	$0.5 million	Implied within 4% total ingredient growth

Prescription-based relationship with U.S. wellness clinics

The clinical channel establishes a prescription-based relationship, primarily through the pharmaceutical-grade Niagen IV and injection offerings, which are distributed via U.S. FDA-registered 503B outsourcing facilities. This segment is growing rapidly. As of the announcement in September 2024, Niagen IV and injections were rolling out to 14 new clinics. By March 2025, the Niagen IV product was available in 500 clinics across the country, with management projecting that number to double by the end of 2025. As of the start of 2025, Niagen Plus products were already available at over 475 leading wellness clinics in the U.S.. This channel requires a high degree of trust and regulatory alignment with the clinics themselves.

High-touch scientific communication with researchers and media

The scientific communication strategy is high-touch because the product's value proposition rests entirely on rigorous science. This relationship management targets credibility building with key opinion leaders, researchers, and the media. The company continues to invest in research and innovation, supporting its claims. The communications engine is designed to amplify awareness of Niagen's 40 peer-reviewed published clinical studies. This scientific backing is critical for maintaining the premium positioning of Niagen as the most efficient, effective, and only legal NAD booster available.

The key touchpoints for this relationship focus include:

• Supporting ongoing research and development projects.
• Amplifying results from new clinical studies.
• Educating healthcare practitioners and consumers on NAD+ science.
• Maintaining transparency regarding safety and quality standards.

Finance: review Q3 2025 marketing spend allocation across DTC vs. clinical channel support by next Tuesday.

ChromaDex Corporation (CDXC) - Canvas Business Model: Channels

You're looking at how ChromaDex Corporation, which officially became Niagen Bioscience, Inc. (NAGE) in March 2025, gets its products to the customer. The channel strategy is clearly multi-pronged, balancing high-margin direct sales with broad market reach via established partners.

Direct-to-Consumer (DTC) e-commerce via TruNiagen.com remains a core focus, driving significant revenue. For the fourth quarter of 2024, this channel saw net sales of $17.3 million, representing robust organic growth of 30% year-over-year. This channel is expected to see continued expansion throughout 2025, supporting the overall projection of approximately 18% year-over-year revenue growth for the full fiscal year 2025. This DTC focus helps capture higher margins directly from the consumer base.

The company maintains a solid foothold in major online marketplaces. While Amazon is noted as historically doing the heavy lifting, the Shopify platform is reportedly starting to pull its weight after an initial underwhelming stretch. The overall e-commerce business, which includes these marketplaces, saw stable sales of $13 million in the second quarter of 2024. The overall strategy anticipates growth through these established partnerships.

International retail distribution is heavily reliant on key partners. The relationship with A.S. Watson Group, which includes Watsons, is a key component of the B2B segment. In the fourth quarter of 2024, combined sales through Watsons and other B2B channels increased by 26% compared to the prior year period. The partnership with iHerb is also critical for global reach, as nearly 90% of iHerb's sales are generated outside the United States, and iHerb serves 10 million active customers across more than 180 countries.

The newer channel involves U.S. wellness clinics and compounding pharmacies for the pharmaceutical-grade Niagen Plus products (IV/injections). This segment is showing rapid adoption. As of May 2025, pharmaceutical-grade Niagen IV was available in almost 600 clinics nationwide. Management expressed an expectation that this number would double by the end of 2025, suggesting this segment is targeted to become a steady source of revenue. This channel also includes the ingredient business, where food-grade and pharmaceutical-grade Niagen ingredient sales reached $5.3 million in Q4 2024, marking a 96% year-over-year increase for that quarter.

Here's a quick look at the performance metrics across the primary sales avenues based on the latest available figures:

Channel Type	Specific Channel/Metric	Latest Reported Value (Q4 2024 or Goal)	Context/Growth
Direct-to-Consumer (DTC)	TruNiagen.com Net Sales (Q4 2024)	$17.3 million	Up 30% year-over-year
Online Marketplaces	E-commerce Sales (Q2 2024)	$13 million	Reported as stable
International Retail	Watsons & Other B2B Sales (Q4 2024)	Combined Sales Increase	Up 26% year-over-year
Clinical/Prescription	Niagen IV Clinics (May 2025)	Almost 600 clinics	Goal to double by end of 2025
Ingredient Sales	Food/Pharma Grade Niagen Sales (Q4 2024)	$5.3 million	Up 96% year-over-year

The company's overall strategy relies on these distinct pathways to market:

• TruNiagen.com for direct customer relationship and margin capture.
• Amazon, iHerb, Walmart.com for broad online accessibility.
• Watsons and other partners for established international retail presence.
• Wellness Clinics for prescription-based, high-value IV/injection delivery.

The full-year 2024 net sales for ChromaDex Corporation reached $99.6 million, and the projection for 2025 is approximately 18% revenue growth, which depends on the successful execution across all these channels.

Finance: draft 13-week cash view by Friday.

ChromaDex Corporation (CDXC) - Canvas Business Model: Customer Segments

You're looking at the core groups ChromaDex Corporation (now Niagen Bioscience, Inc. as of March 19, 2025) serves to drive its revenue and research pipeline. This isn't just about selling a bottle; it's about supplying a science-backed ingredient across multiple channels.

The customer base is segmented into four distinct, yet interconnected, groups that rely on the company's flagship ingredient, Niagen (patented nicotinamide riboside or NR).

Health-conscious consumers focused on longevity and cellular health.

This segment buys the direct-to-consumer product, Tru Niagen®. This group is targeted as people focused on healthy aging and cellular health, seeking to boost NAD+ levels.

• Tru Niagen® is the number one healthy-aging NAD+ supplement in the United States, based on revenue per the largest U.S. e-commerce marketplace (as of the period ending February 29, 2024).
• For the full year 2024, net sales from Tru Niagen® reached $76.8 million.
• In the fourth quarter of 2024, Tru Niagen® net sales were $22.7 million.

B2B dietary supplement and functional food manufacturers.

These are other companies that purchase pharmaceutical-grade Niagen® as an active ingredient for their own branded products, including supplements and functional foods. This is a key ingredient licensing/supply stream.

Metric	2024 Full Year Amount	Q4 2024 Amount
Niagen Ingredients Net Sales	$19.2 million	Not explicitly stated separately from total Q4 ingredient sales, but Q3 2024 ingredient sales were $6.7 million.
Ingredient Sales YoY Growth (2024 vs 2023)	82%	Ingredient sales grew 368% year-over-year in Q3 2024.
B2B Sales as % of Net Sales (Historical Context)	Not specified for 2024	24% in Q1 2022.

The company also supplies pharmaceutical-grade Niagen® to U.S. FDA-registered 503B outsourcing facilities for compounding into injectable/IV products for clinics.

U.S. wellness and anti-aging clinics (over 475 clinics in 2024).

This segment purchases the Niagen Plus product line, which includes Niagen IV and injectables, available exclusively by prescription at participating clinics.

• As of the fiscal year 2024 results announcement (early 2025), Niagen Plus products were available at over 475 leading wellness clinics in the U.S..
• One analysis noted availability in 500 clinics across the country, with management expecting that number to double by the end of 2025.
• This availability was noted to have expanded to over 100 wellness clinics as of October 31, 2024.

Academic and pharmaceutical researchers.

This group engages with ChromaDex Corporation through the ChromaDex External Research Program (CERP™) to advance the science of NAD+.

Here's a look at the scale of the research engagement:

Research Metric	Number/Amount
Research Agreements Worldwide	275+
Countries with Research Agreements	30+
Peer-Reviewed Publications through CERP	200+
Published Human Clinical Studies	35+
Research Materials Provided (Cumulative)	Over $4.5 million

The company is also actively pursuing a pharmaceutical path, having initiated discussions with the FDA regarding an Investigational New Drug (IND) application for nicotinamide riboside (NR) in the treatment of Ataxia Telangiectasia (AT).

ChromaDex Corporation (CDXC) - Canvas Business Model: Cost Structure

You're looking at the expense side of Niagen Bioscience Inc.'s (formerly ChromaDex Corporation) operations as of late 2025. This structure shows where the money is going to support the science, brand, and supply chain for Niagen.

The cost structure is heavily weighted toward commercialization and maintaining scientific leadership. For the third quarter of 2025, total operating expenses increased 21%, or $3.1 million, to $17.7 million, reflecting investments for business growth and brand awareness.

Here is a breakdown of the key cost components for the third quarter of 2025:

• High R&D investment, totaling $1.8 million in Q3 2025.
• Significant selling and marketing expenses for brand expansion.
• General and administrative (G&A) expenses, $7.1 million in Q3 2025.
• Manufacturing and supply chain costs for Niagen production.
• Legal costs for patent defense and enforcement.

The primary operating expenses for the third quarter of 2025 are detailed below. Note that the company's net sales for the period were $34.0 million.

Cost Component	Q3 2025 Amount/Metric	Context/Detail
Research & Development (R&D)	$1.8 million	Expense was $0.5 million higher year-over-year, supporting science as the cornerstone of the company.
General & Administrative (G&A)	$7.1 million	This figure is as reported, though the full-year outlook was updated to expect G&A to be between $8.0 to $9.0 million.
Selling & Marketing (S&M)	25.8% of Net Sales	This percentage of net sales represents an improvement of 170 basis points year-over-year, despite an absolute dollar increase of $1.7 million year-over-year to support brand growth.
Manufacturing/COGS Efficiency	Gross Margin of 64.5%	This reflects supply chain optimization, favorable product mix, and the use of lower-cost inventory purchases.
Legal/Patent Defense	Successful challenge against competitor's false advertising claims	Ongoing costs are tied to defending the robust patent portfolio against infringement claims, such as those related to NMN crystallization.

The manufacturing and supply chain costs are managed to drive the gross margin, which reached 64.5% in Q3 2025, up 100 basis points from the prior year period. This efficiency is supported by a U.S.-based supply chain for Niagen ingredient manufacturing by their partner, W.R. Grace.

For G&A, the increase of $0.8 million (or 28%) over the prior year period was primarily driven by higher employee-related expenses and share-based compensation.

The S&M spend is viewed through an efficiency lens; while the absolute spend increased to support brand awareness, it improved to 25.8% of net sales, showing operating leverage.

Finance: draft 13-week cash view by Friday.

ChromaDex Corporation (CDXC) - Canvas Business Model: Revenue Streams

You're looking at the core ways ChromaDex Corporation generates cash as of late 2025. The business model clearly splits revenue between direct-to-consumer sales and business-to-business ingredient licensing and sales.

The largest component is the Tru Niagen consumer product sales. For the third quarter of 2025, this channel brought in $26 million. Honestly, the e-commerce segment within this is anchoring the growth, delivering net sales of $19 million in that same quarter, which was a 29% increase year-over-year. So, direct consumer engagement remains critical.

Next up is the Niagen ingredient sales to B2B partners. This segment generated $6.9 million in Q3 2025. This ingredient revenue is further segmented based on the end-use application, which is important for understanding the quality tiers ChromaDex services.

The third distinct revenue pathway involves Pharmaceutical-grade Niagen sales (IV/injections) to clinics. This is the newer, higher-grade vertical. For the third quarter of 2025, the sales specifically from pharmaceutical-grade Niagen were $0.5 million, which came out of the total ingredient sales. Management has been actively expanding the footprint for these prescription-based offerings, aiming to capitalize on the intravenous hydration therapy market.

Here's a quick math look at the Q3 2025 revenue composition:

Revenue Stream Component	Q3 2025 Amount (USD)
Tru Niagen Consumer Sales	$26 million
Total Niagen Ingredient Sales to B2B Partners	$6.9 million
Food-Grade Niagen Sales to Key Partners (within Ingredient Sales)	$6.4 million
Pharmaceutical-Grade Niagen Sales (IV/Injections)	$0.5 million

The overall top-line expectation for ChromaDex Corporation shows confidence in continued momentum. The full-year 2025 revenue projected to grow approximately 18% year-over-year, building on the strong performance seen in the earlier part of the year. This outlook reflects expected expansion in e-commerce, growth via established partnerships, and increased revenue from that pharmaceutical-grade Niagen ingredient business.

On the bottom line for the quarter, the company achieved a net income of $4.6 million in Q3 2025. That's a significant improvement compared to the net income of $1.9 million reported in the third quarter of 2024. The company ended the quarter with $64.3 million in cash and no debt, which definitely supports their investment strategy.

You should track the clinic count for the IV/injection business; management had previously indicated a goal to double the number of clinics offering Niagen IV by the end of 2025 from the 500 clinics reported in August 2024.

Finance: draft 13-week cash view by Friday.