Key Highlights

  • Third-quarter net sales at Niagen Bioscience (NASDAQ:NAGE) fell 20% to USD 27.2 million from USD 34.0 million, and the company swung to a net loss of USD 1.2 million from Net Income of USD 4.6 million.
  • Ingredients net sales dropped 47% to USD 3.8 million from USD 7.2 million, after the largest ingredient customer reduced purchases by USD 3.2 million amid softer Downstream demand.
  • Consumer Products sales declined 10% to USD 23.3 million, with lower A.S. Watson sales of USD 1.7 million and E-commerce sales down USD 0.9 million, partly linked to Amazon Prime Day timing.
  • On October 30, 2026, the Federal Circuit reversed an award of about USD 9.2 million in attorneys' fees and costs against the company in the Elysium Patent case, which had no accrual recorded.

Sales Retreat and a Small Quarterly Loss

A Quarterly Report covering the period ended September 30, 2026 was filed by Niagen Bioscience (NASDAQ:NAGE) on November 4, 2026. The Business centers on healthy aging, built around nicotinamide riboside, a precursor to NAD+, which it supplies as the Niagen ingredient and within the Tru Niagen supplement. Net sales came in at USD 27.2 million, against USD 34.0 million, a 20% decline, and the company posted a loss of USD 1.2 million, or USD 0.01 per diluted share, after earning USD 0.05 a share a year earlier. Gross Profit fell 22% to USD 17.1 million as cost of sales climbed to 37.1% of net sales from 35.5%. Over nine months, net sales totaled USD 88.5 million versus USD 95.6 million, and net income was USD 6.1 million compared with USD 13.3 million.

Ingredient Buyer Pullback and Prime Day Calendar Shift

Ingredients posted the steepest decline, with food-grade sales down about USD 3.0 million and pharmaceutical-grade sales down USD 0.1 million. The filing traces this mainly to lower purchasing by the largest ingredient customer. Because fixed overhead did not shrink alongside sales, ingredient cost of sales rose roughly 780 basis points as a share of revenue. In Consumer Products, Tru Niagen sales fell USD 2.7 million, and the filing observes that Amazon Prime Day moved out of the third quarter of 2025 and into the fourth quarter of 2026. The analytical reference standards business was sold in February 2026 for about USD 6.0 million in cash, so it no longer adds revenue.

Cash Position, Elysium Reversal and Marketing Outlay

Cash and equivalents stood at about USD 69.5 million on September 30, 2026, of which USD 69.4 million was unrestricted. Management believes that balance, together with cash from sales, covers obligations for at least twelve months, though it may pursue further Capital afterward. The Elysium decision removes a possible USD 9.2 million liability, but Elysium could still request rehearing or seek Supreme Court review. Marketing spending is set to climb because the Don't Get Old. Age Better campaign launched in October 2026, although its costs were not material in the quarter. Marketing expense had already reached 13.0% of net sales, versus 8.0% a year earlier. The 10-Q lists dependence on Tru Niagen, a single raw material supplier, customer concentration and competing alternatives such as NMN as risks.

Where Things Stand

The move into a loss reflects lower ingredient orders and softer consumer sales rather than a single event. Niagen Bioscience (NASDAQ:NAGE) still reports positive nine-month net income of USD 6.1 million and about USD 69.5 million of cash, yet sales and gross Margin both weakened in the quarter. The filing contains no guidance, consensus figure or price move. Watch fourth-quarter Prime Day timing, whether the largest ingredient customer resumes buying, the cost of the new campaign and any Elysium rehearing request.