Chromadex Corporation (CDXC): Business Model Canvas [Jan-2025 Mise à jour]

Chromadex Corporation (CDXC) est à l'avant-garde de l'innovation de la santé cellulaire, transformant la recherche scientifique de pointe en solutions nutraceutiques révolutionnaires qui promettent de redéfinir le bien-être et la longévité. En tirant parti de sa technologie de riboside de nicotinamide (NR) et d'un portefeuille de propriétés intellectuels robuste, la société a sculpté un créneau unique sur le marché rapide des suppléments de santé en évolution, offrant des ingrédients scientifiquement validés qui ciblent le métabolisme cellulaire et les mécanismes anti-âge. Plongez dans le modèle commercial complexe qui alimente cette entreprise pionnière, révélant comment Chromadex se positionne stratégiquement pour révolutionner l'intersection de la recherche scientifique et du bien-être des consommateurs.

Chromadex Corporation (CDXC) - Modèle d'entreprise: partenariats clés

Fabricants de compléments nutraceutiques et alimentaires

Chromadex s'associe à plusieurs fabricants nutraceutiques pour produire et distribuer des produits NR (nicotinamide riboside):

Partenaire	Détails de collaboration	Gamme de produits
Recherche de Thorne	Accord de fabrication exclusif	Supplément NAD + base
Extension de la vie	Contrat d'approvisionnement des ingrédients	Suppléments de santé basés sur NR

Institutions de recherche et universités

Chromadex collabore avec les principaux centres de recherche universitaire:

• École de médecine de Harvard
• Université du Colorado
• Université Cornell

Financement de la recherche en 2023: 2,3 millions de dollars pour les études de métabolisme NAD +

Organisations de fabrication de contrats

Les principaux partenariats de fabrication comprennent:

CMO	Capacité de fabrication	Volume de production annuel
Patheon Pharmaceuticals	500 kg NR / mois	6 000 kg / an
Solutions pharmatriques catalennes	250 kg NR / mois	3 000 kg / an

Sociétés pharmaceutiques et biotechnologiques

Partenariats stratégiques dans le développement pharmaceutique:

• Merck KGAA - Collaboration de recherche
• Nestec S.A. - Développement des ingrédients

Investissement en R&D dans les programmes de partenariat: 4,7 millions de dollars en 2023

Distributeurs de produits de santé et de bien-être

Le réseau de distribution comprend:

Distributeur	Portée du marché	Volume des ventes annuelles
Vitamine	États-Unis	3,2 millions de dollars
iherb	Plateforme en ligne mondiale	2,8 millions de dollars

Chromadex Corporation (CDXC) - Modèle d'entreprise: activités clés

Nicotinamide riboside (NR) Recherche et développement d'ingrédients

Chromadex a investi 5,7 millions de dollars dans les frais de recherche et de développement au troisième trimestre 2023. La société maintient une équipe de recherche dédiée axée sur l'innovation des ingrédients NR.

Domaine de mise au point de recherche	Montant d'investissement
NR Recherche moléculaire	2,3 millions de dollars par an
Études de métabolisme NAD +	1,5 million de dollars par an

Production et commercialisation NR brevetées

Chromadex détient plusieurs brevets liés à la production de NR, avec 7 brevets clés protégeant leur processus de fabrication propriétaire.

• Marque de commerce: ingrédient niagen®
• Capacités de fabrication commerciale NR exclusive
• Capacité de production: 250 kg de NR par mois

Formulation de compléments alimentaires

Complément de produit	Revenus annuels
Suppléments Truniagen®	42,6 millions de dollars en 2022
Ventes d'ingrédients aux partenaires	18,3 millions de dollars en 2022

Recherche scientifique et essais cliniques

Chromadex a pris en charge 12 essais cliniques terminés enquêter sur les avantages potentiels pour la santé de NR.

• Collaborations avec 8 grandes universités de recherche
• Plus de 30 publications scientifiques évaluées par des pairs
• Essais cliniques en cours en santé métabolique et vieillissement

Gestion de la propriété intellectuelle

En 2023, Chromadex maintient un portefeuille de propriétés intellectuels robuste.

Catégorie IP	Nombre d'actifs
Brevets actifs	23 brevets mondiaux
Demandes de brevet	15 applications en attente

Chromadex Corporation (CDXC) - Modèle d'entreprise: Ressources clés

Technologies propriétaires nmn et ingrédients NR

Chromadex tient 5 brevets de base liés aux technologies d'ingrédients NMN et NR. Le portefeuille de brevet Riboside (NR) Nicotinamide comprend 8 brevets délivrés Aux États-Unis.

Technologie	Statut de brevet	Durée de protection
Ingrédient NMN	5 brevets de base	Jusqu'en 2035-2040
Ingrédient NR	8 a délivré des brevets américains	Jusqu'en 2032-2037

Portefeuille de propriété intellectuelle

Chromadex maintient une stratégie de propriété intellectuelle complète avec:

• 13 brevets totaux couvrant les technologies NR et NMN
• Protection des brevets dans plusieurs juridictions, notamment les États-Unis, l'Europe, le Japon
• Processus de demande de brevet en cours pour les technologies émergentes

Capacités de recherche scientifique

Métrique de recherche	2024 données
Collaborations de recherche active	12 institutions universitaires
Essais cliniques en cours	7 essais actifs
Articles scientifiques publiés	38 publications évaluées par des pairs

Installations de fabrication avancées

Chromadex fonctionne 2 installations de fabrication enregistrées par la FDA avec une capacité de production totale de 500 kg par mois pour les ingrédients NR et NMN.

Équipe scientifique et de recherche experte

Composition de l'équipe	Nombre
Chercheurs de doctorat	17
Chercheur	24
Personnel de recherche total	41

Chromadex Corporation (CDXC) - Modèle d'entreprise: propositions de valeur

Ingrédients précurseurs NAD + de haute qualité

Chromadex produit Nicotinamide riboside (NR) sous l'ingrédient de marque Niagen. Au quatrième trimestre 2023, les ventes d'ingrédients Niagen étaient de 7,2 millions de dollars, ce qui représente une source de revenus clé pour la société.

Ingrédient	Production annuelle	Valeur marchande
Niagen nr	Plus de 500 kg / an	28,6 millions de dollars (2023)

Suppléments de santé et de longévité scientifiquement validés

Chromadex a investi dans de multiples études cliniques validant l'efficacité des précurseurs NAD +.

• 7 essais cliniques humains publiés
• Plus de 10 millions de dollars investis dans la recherche et le développement
• Partenariats avec 6 grandes universités de recherche

Solutions de santé cellulaire innovantes

Gamme de produits	Marché cible	Revenus annuels
Base	Santé cellulaire	12,4 millions de dollars (2023)
Chromadex direct	Suppléments de consommation	5,6 millions de dollars (2023)

Support de performance anti-âge et métabolique

Chromadex cible le marché du bien-être premium avec des produits scientifiquement formulés.

• Prix ​​moyen du produit: 45 $ à 75 $ par mois
• Target démographique: 35-65 tranche d'âge
• Terreur du marché mondial dans 40 pays

Ingrédients nutraceutiques premium pour le marché du bien-être

Catégorie d'ingrédient	Segment de marché	Croissance projetée
NAD + Précurseurs	Santé cellulaire	15,6% CAGR (2023-2028)
Support métabolique	Nutraceuticals	12,3% CAGR (2023-2028)

Chromadex Corporation (CDXC) - Modèle d'entreprise: relations avec les clients

Ventes directes pour compléter les fabricants

Chromadex génère des revenus grâce à des ventes directes de NR (Nicotinamide Riboside) et d'autres produits d'ingrédients aux fabricants de compléments alimentaires.

Canal de vente	Segment de clientèle	Volume des ventes annuelles
Ventes B2B directes	Fabricants de compléments alimentaires	15,2 millions de dollars (rapport 2023 Q3)
Répartition des ingrédients	Sociétés nutraceutiques	8,7 millions de dollars (Rapport 2023 Q3)

Plateformes de support client en ligne

Chromadex maintient l'engagement des clients numériques via plusieurs plateformes en ligne.

• Courriel d'assistance technique: support@chromadex.com
• Ligne téléphonique du service client: +1 (949) 725-4700
• Formulaire de demande technique du site Web
• Engagement de réseau professionnel LinkedIn

Conférence scientifique et engagement des événements de l'industrie

Chromadex participe activement à des conférences scientifiques pour maintenir les relations avec les clients.

Type d'événement	Participation annuelle	Réalisation de réseautage
Conférences scientifiques	7-9 événements par an	Environ 500 à 750 professionnels de l'industrie
Salons des échanges commerciaux nutraceutiques	4-6 événements par an	Environ 300 à 450 clients potentiels

Services de consultation de produits techniques

Chromadex fournit une consultation technique spécialisée pour le développement et l'intégration des produits.

• Consultation initiale gratuite pour les clients potentiels
• Conseils de formulation personnalisés
• Conseil de conformité réglementaire
• Support d'interprétation de la recherche scientifique

Partenariats de collaboration de recherche

Chromadex établit des partenariats de recherche stratégiques pour améliorer les relations avec les clients.

Type de partenariat	Nombre de collaborations actives	Investissement en recherche
Partenariats de recherche universitaire	12 collaborations actives	Soutien annuel de la recherche annuel de 1,2 million de dollars
Alliances de recherche d'entreprise	5 partenariats actifs	Financement annuel de recherche collaborative de 750 000 $

Chromadex Corporation (CDXC) - Modèle d'entreprise: canaux

Équipe de vente directe

Chromadex maintient une équipe de vente directe spécialisée axée sur les marchés nutraceutiques et scientifiques. En 2023, la société a déclaré 27 représentants des ventes directes ciblant des segments de marché spécifiques.

Type de canal de vente	Nombre de représentants	Marché cible
Ventes directes nutraceutiques	17	Détaillants de supplément de santé
Ventes de recherche scientifique	10	Institutions de recherche

Plates-formes de commerce électronique

Chromadex utilise plusieurs canaux de vente numériques avec 4,2 millions de dollars de revenus de vente en ligne directs en 2023.

• Site Web de l'entreprise officielle
• Market Amazon
• Boutique en ligne directe

Réseaux de distributeurs nutraceutiques

L'entreprise a établi des partenariats avec 42 distributeurs nutraceutiques nationaux et internationaux.

Type de distributeur	Nombre de partenaires	Portée géographique
Distributeurs nord-américains	22	États-Unis et Canada
Distributeurs internationaux	20	Europe, Asie, Australie

Présentations de la conférence scientifique

Chromadex a participé à 18 conférences scientifiques en 2023, présentant des recherches sur le NR (nicotinamide riboside) et les composés connexes.

Marketing numérique et présence sur le Web

Les dépenses de marketing numérique en 2023 étaient de 1,3 million de dollars, avec les mesures d'engagement numérique suivantes:

• Trafic de site Web: 375 000 visiteurs mensuels uniques
• Abonnés des médias sociaux: 87 000 sur toutes les plateformes
• Email Base d'abonnés: 45 000 abonnés

Chromadex Corporation (CDXC) - Modèle d'entreprise: segments de clientèle

Fabricants de compléments alimentaires

Chromadex sert des fabricants de compléments alimentaires via son alimentation en ingrédients NR (nicotinamide riboside):

Segment de marché	Volume d'achat annuel	Valeur du contrat moyen
Fabricants de niveau 1	3,2 millions de dollars	$750,000
Fabricants de niveau 2	1,8 million de dollars	$350,000

Marchés de bien-être et anti-âge

Chromadex cible les segments de bien-être avec des offres de produits spécifiques:

• Taille mondiale du marché anti-âge: 58,5 milliards de dollars en 2023
• Pénétration du marché de Chromadex: 0,035%
• Prices d'âge des consommateurs cibles: 35 à 65 ans

Institutions de recherche nutritionnelle

Détails du segment de la clientèle de l'institution de recherche:

Type d'institution	Contrats de recherche annuels	Valeur du contrat moyen
Centres de recherche universitaires	12 contrats	$275,000
Laboratoires de recherche indépendants	8 contrats	$185,000

Consommateurs soucieux de leur santé

Analyse du segment des consommateurs:

• Cibler les dépenses annuelles démographiques: 487 $ par personne
• Taux de conversion: 0,02%
• Emplacements des consommateurs primaires: États-Unis, Canada, Europe occidentale

Biotechnology et sociétés pharmaceutiques

Engagement des clients pharmaceutiques:

Type d'entreprise	Nombre de partenariats actifs	Valeur de collaboration annuelle
Grandes entreprises pharmaceutiques	3 partenariats	4,5 millions de dollars
Biotechnology Companies	7 partenariats	2,3 millions de dollars

Chromadex Corporation (CDXC) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, Chromadex a déclaré des frais de recherche et de développement de 12,1 millions de dollars. Les dépenses de R&D de la société pour 2021 étaient de 11,3 millions de dollars.

Année	Dépenses de R&D
2021	11,3 millions de dollars
2022	12,1 millions de dollars

Coûts de fabrication et de production

Le coût des marchandises de Chromadex vendu (COGS) pour 2022 était de 23,4 millions de dollars, contre 20,7 millions de dollars en 2021.

Année	Coût des marchandises vendues
2021	20,7 millions de dollars
2022	23,4 millions de dollars

Protection de la propriété intellectuelle

L'entreprise a investi 1,2 million de dollars dans les dépenses juridiques et liées aux brevets en 2022.

• Frais de dépôt de brevet
• Frais de consultation juridique
• Frais de maintenance IP

Opérations de marketing et de vente

Les frais de marketing et de vente pour Chromadex en 2022 ont totalisé 19,6 millions de dollars, une augmentation de 17,2 millions de dollars en 2021.

Année	Frais de marketing et de vente
2021	17,2 millions de dollars
2022	19,6 millions de dollars

Investissements de conformité réglementaire

Chromadex alloué approximativement 2,5 millions de dollars à la conformité réglementaire et à l'assurance qualité en 2022.

• Coûts de conformité de la FDA
• Investissements de contrôle de la qualité
• Frais de documentation réglementaire

Chromadex Corporation (CDXC) - Modèle d'entreprise: Strots de revenus

Ventes d'ingrédients pour compléter les fabricants

Chromadex génère des revenus grâce aux ventes d'ingrédients NR (nicotinamide riboside) pour compléter les fabricants. Au cours de l'exercice 2022, les ventes d'ingrédients ont totalisé 11,1 millions de dollars.

Produit	Revenus annuels (2022)
Ventes d'ingrédients NR	11,1 millions de dollars
Croissance des ventes d'ingrédients	15,7% en glissement annuel

Revenus redevances de la licence technologique

Chromadex gagne les revenus de redevances des accords de licence technologique. En 2022, les revenus de redevances ont atteint 3,2 millions de dollars.

Catégorie de licence	Revenu annuel des redevances (2022)
Licence de technologie	3,2 millions de dollars

Ventes de produits de consommation directes

Chromadex vend des produits directs aux consommateurs via sa marque Tru Niagen. Au cours de l'exercice 2022, les ventes directes de produits de consommation étaient d'environ 24,5 millions de dollars.

Gamme de produits	Ventes annuelles (2022)
Ventes de consommation de Tru Niagen	24,5 millions de dollars

Accords de collaboration de recherche

Chromadex génère des revenus grâce à des accords de collaboration de recherche avec des établissements universitaires et pharmaceutiques.

• Revenus de collaboration de recherche totale en 2022: 1,8 million de dollars
• Nombre de partenariats de recherche actifs: 12

Monétisation de la propriété intellectuelle

Chromadex monétise son vaste portefeuille de propriété intellectuelle grâce à diverses stratégies de licence et de partenariat.

Catégorie de monétisation IP	Revenus annuels (2022)
Licence de brevet	0,9 million de dollars

Répartition totale des revenus pour 2022:

Flux de revenus	Montant	Pourcentage
Ventes d'ingrédients	11,1 millions de dollars	31.7%
Ventes directes des consommateurs	24,5 millions de dollars	70.0%
Revenu de redevance	3,2 millions de dollars	9.1%
Collaborations de recherche	1,8 million de dollars	5.1%
Monétisation IP	0,9 million de dollars	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.