Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 8, 2024

CHROMADEX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

001-37752

26-2940963

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

10900 Wilshire Blvd. Suite 600, Los Angeles, California 90024

(Address of principal executive offices, including zip code)

(310) 388-6706

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	CDXC	The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 8, 2024, ChromaDex Corporation (the “Company”) issued a press release announcing its earnings for the quarter ended March 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Item 2.02 and the exhibit hereto are being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, (the “Securities Act”) or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 7.01. Regulation FD Disclosure.

On May 8, 2024, the Company released a corporate presentation which it made available on its website. A copy of the corporate presentation is attached hereto as Exhibit 99.2.

The information in this Item 7.01 and the exhibit hereto are being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit Number						Description

99.1						Press Release dated May 8, 2024
99.2						Investor Presentation of ChromaDex Corporation
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CHROMADEX CORPORATION

Dated: May 8, 2024	By:	/s/ BRIANNA L. GERBER
		Brianna L. Gerber
		Chief Financial Officer
		(principal financial officer and duly authorized on behalf of the registrant)

ChromaDex Corporation Reports First Quarter 2024 Financial Results

Total net sales of $22.2 million, gross margin of 60.7%, a net loss of $0.5 million and a positive Adjusted EBITDA of $0.7 million for the three months ended March 31, 2024. Reiterated full year outlook including net sales growth of at least 16%.

LOS ANGELES, CA - May 8, 2024 - ChromaDex Corp. (NASDAQ:CDXC) today announced financial results for the first quarter of 2024.

First Quarter 2024 Financial and Recent Operational Highlights

•Total net sales were $22.2 million, with $17.4 million from Tru Niagen®.

•Solid gross margin of 60.7%, an increase of 80 basis points, compared to 59.9% from the prior year quarter.

•Sales and marketing expense as a percentage of net sales was 30.4%, an improvement of 450 basis points, compared to 34.9% from the prior year quarter.

•Total operating expenses decreased $1.3 million while increasing investments in research and development initiatives.

•Net loss was $0.5 million or $(0.01) per share, a $1.4 million improvement, or $0.02 per share, from the prior year quarter.

•Adjusted EBITDA, a non-GAAP measure, improved to a positive $0.7 million from a negative $0.1 million in the prior year quarter.

•In March 2024, the Tru Niagen® product portfolio(1) attained third-party verification through the Alkemist Assured™ testing transparency program conducted by Alkemist Labs, a distinguished third-party testing laboratory known for its rigorous analysis of herbal and dietary supplements. This verification reinforces ChromaDex's commitment to excellence by ensuring high-quality, safe ingredients and transparency.

•In April 2024, ChromaDex expanded distribution of Tru Niagen®, announcing partnerships with The Vitamin Shoppe and Sprouts Farmers Market, both targeting health-conscious consumers. Tru Niagen® is now available in 700 The Vitamin Shoppe and Super Supplements specialty retail locations and online, as well as in 400 Sprouts Farmers Market locations, marking the inaugural launch with a major U.S. grocery chain.

“During the first quarter of 2024, we delivered $22.2 million in revenue and, as anticipated, we increased investments in R&D to support our future launches, while continuing to demonstrate financial discipline across the business. We reduced total operating expenses, and delivered positive Adjusted EBITDA of $0.7 million, along with positive operating cash flows, ending with $27.6 million in cash and no debt,” said ChromaDex Chief Executive Officer, Rob Fried. “We are excited about the opportunities ahead as we intensify our efforts for new launches and continue to drive growth in our Tru Niagen business through strategic partnerships. I am proud of the progress made to date and look forward to another exciting year."

(1) Excluding Tru Niagen Pro 1,000 mg, which is NSF Certified for Sport®.

Results of operations for the three months ended March 31, 2024 compared to the prior year quarter

ChromaDex recorded net sales of $22.2 million, a decrease of 2% or $0.4 million from the prior year quarter. This decline in total net sales was primarily due to reduced Tru Niagen® sales, where growth in e-commerce sales was offset by decreased sales through distributor partners, primarily due to timing of sales.

Gross margin percentage improved 80 basis points to 60.7%. The slight improvement in gross margin percentage is primarily driven by changes in business mix.

Operating expense decreased 8%, or $1.3 million, to $14.2 million due to reductions in general and administrative expense as well as sales and marketing expense, partially offset by increased investments in research and development expense to support future launches.

Net loss was $0.5 million, or $0.01 loss per share, compared to a net loss of $1.9 million, or $0.03 loss per share, for the first quarter of 2023. Adjusted EBITDA, a non-GAAP measure, improved to a positive $0.7 million from a negative $0.1 million in the first quarter of 2023. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of non-GAAP Adjusted EBITDA to net loss, the most directly comparable GAAP measure.

Net cash inflow from operating activities was $0.3 million for the three months ended March 31, 2024 compared to a net cash inflow of $2.8 million in the prior year. The $2.5 million reduction in cash provided by operating activities was primarily driven by relatively greater reductions in accounts payable of $1.6 million and lower reductions in inventory and prepaid expenses and other assets of $0.7 million and $0.5 million, respectively.

2024 Full Year Outlook

Looking forward, for the full year, the Company expects the trajectory of full year revenue growth to continue, projecting a higher rate of revenue growth than the prior year growth of 16%. This outlook assumes continued revenue growth through our e-commerce business as well as established partnerships, and assumes upside from opportunities with new partnerships, channels, and products. The Company projects that gross margin will improve slightly year-over-year driven by continued supply chain optimization efforts and cost savings, along with overall scale. Moreover, selling and marketing expense will increase in absolute dollars but remain stable as a percentage of net sales, as the Company continues to make focused investments to drive brand awareness and support new market launches, while maintaining efficiency. The Company plans to continue to invest in research and development to drive future innovation and expects an increase in general and administrative expense of $1.5 million - $2.5 million to support growth.

Investor Conference Call

A live webcast will be held Wednesday, May 8, 2024 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss ChromaDex’s first-quarter financial results and provide a general business update.

To listen to the webcast, or to view the earnings press release and its accompanying financial exhibits, please visit the Investors Relations section of ChromaDex’s website at http://chromadex.com. The toll-free dial-in information for this call is 1-888-596-4144 with Conference ID: 8584242.

The webcast will be recorded, and will be available for replay via the website from 7:30 p.m. Eastern time on May 8, 2024 through 11:59 p.m. Eastern time on May 15, 2024. The replay of the call can also be accessed by dialing 800-770-2030, using the Replay ID: 8584242.

Important Note on Forward Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects,” “anticipates,” “intends” “estimates,” “plans,” “potential,” “possible,” “probable,” “believes” “seeks,” “may,” “will,” “should,” “could,” “predicts,” “projects,” “continue,” “would” or the negative of such terms or other similar expressions. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the quotation from ChromaDex’s Chief Executive Officer, and statements related to the Company’s 2024 financial outlook including but not limited to revenue growth, gross margin, expenses, and investment plans. Risks that contribute to the uncertain nature of the forward-looking statements include: inflationary conditions and adverse economic conditions; our history of operating losses and need to obtain additional financing; the growth and profitability of our product sales; our ability to maintain sales, marketing and distribution capabilities; changing consumer perceptions of our products; our reliance on a single or limited number of third-party suppliers; risks of conducting business in China; and the risks and uncertainties associated with our business and financial condition in general, described in our filings with the Securities and Exchange Commission (SEC), including, without limitation, our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q as filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.

About ChromaDex:

ChromaDex Corporation is a global bioscience company dedicated to healthy aging. The ChromaDex team, which includes world-renowned scientists, is pioneering research on nicotinamide adenine dinucleotide (NAD+), an essential coenzyme that is a key regulator of cellular metabolism and is found in every cell of the human body. NAD+ levels in humans have been shown to decline with age, among other factors, and may be increased through supplementation with NAD+ precursors. ChromaDex is the innovator behind the NAD+ precursor nicotinamide riboside (NR), commercialized as the flagship ingredient Niagen®. Nicotinamide riboside and other NAD+ precursors are protected by ChromaDex’s patent portfolio.

The Company delivers Niagen® as the sole active ingredient in its consumer product Tru Niagen® available at www.TruNiagen.com and through partnerships with global retailers and distributors. The Company also develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products. The Company further offers natural product fine chemicals, known as phytochemicals, and related research and development services. Follow us on X (formerly Twitter) @ChromaDex and Instagram @TruNiagen and subscribe to our latest news via our website accessible at www.ChromaDex.com to which ChromaDex regularly posts copies of its press releases as well as additional updates and financial information about the Company.

Contacts:


Investor Relations
Ben Shamsian
Lytham Partners
+1 (646) 829-9701
Shamsian@LythamPartners.com

Media Relations
Kendall Knysch
Director of Media Relations
+1 (310) 388-6706 Ext. 689
Kendall.Knysch@ChromaDex.com

ChromaDex Corporation and Subsidiaries

Unaudited Condensed Consolidated Statements of Operations


	Three Months Ended March 31,
		2024		2023
(In thousands, except per share data)
Sales, net		$	22,153	$	22,556
Cost of sales		8,697		9,038
Gross profit		13,456		13,518
Operating expenses:
Sales and marketing		6,740		7,874
Research and development		2,095		1,193
General and administrative		5,352		6,419
Total operating expenses		14,187		15,486
Operating loss		(731)		(1,968)

Nonoperating income:

Interest income, net		239		66
Net loss		$	(492)	$	(1,902)

Basic and diluted loss per share attributable to common stockholders:		$	(0.01)	$	(0.03)
Basic and diluted weighted average common shares outstanding		75,230		74,796

ChromaDex Corporation and Subsidiaries

Unaudited Condensed Consolidated Balance Sheets


(In thousands except par values, unless otherwise indicated)	March 31, 2024		December 31, 2023
Assets
Current assets:
Cash and cash equivalents, including restricted cash of $152 for both periods presented	$	27,565	$	27,325
Trade receivables, net of allowances of $87 and $68, respectively; Including receivables from Related Party of $2.7 million and $2.8 million, respectively	6,604		5,234
Inventories	12,495		14,525
Prepaid expenses and other assets	2,312		2,450
Total current assets	48,976		49,534

Leasehold improvements and equipment, net	2,000		2,137
Intangible assets, net	472		510
Right-of-use assets	2,226		2,400
Other long-term assets	405		383
Total assets	$	54,079	$	54,964

Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	7,899	$	10,232
Accrued expenses	10,465		9,493
Current maturities of operating lease obligations	850		691
Current maturities of finance lease obligations	11		11
Customer deposits	227		195
Total current liabilities	19,452		20,622
Deferred revenue	3,311		3,311
Operating lease obligations, less current maturities	2,356		2,563
Finance lease obligations, less current maturities	9		12










Total stockholders’ equity	28,951		28,456
Total liabilities and stockholders’ equity	$	54,079	$	54,964

ChromaDex Corporation and Subsidiaries

Unaudited Condensed Consolidated Statements of Cash Flows


	Three Months Ended March 31,
(In thousands)	2024		2023
Net cash provided by / (used in):
Operating activities	$	295	$	2,792
Investing activities	(41)		(91)
Financing activities	(14)		(1)
Net increase in cash and cash equivalents	240		2,700
Cash and cash equivalents beginning of period	27,325		20,441
Cash and cash equivalents at end of period	$	27,565	$	23,141

ChromaDex Corporation and Subsidiaries

Unaudited Reconciliation of Non-GAAP Financial Measures


Reconciliation of Net Income (Loss) to Adjusted EBITDA
(In thousands)	Q1 2024		Q4 2023		Q3 2023		Q2 2023		Q1 2023

Net income (loss), as reported	$	(492)	$	114	$	(959)	$	(2,191)	$	(1,902)
Adjustments:
Interest (income) expense, net	(239)		(282)		(188)		(125)		(66)
Depreciation	178		177		233		232		228
Amortization of intangibles	38		39		39		39		41
Amortization of right of use assets	174		157		176		173		171
Share-based compensation	984		1,037		1,117		1,324		1,273
Severance and restructuring	27		5		86		766		186

Adjusted EBITDA	$	670	$	1,247	$	504	$	218	$	(69)

Non-GAAP Financial Information:

To supplement ChromaDex’s unaudited financial data presented in accordance with generally accepted accounting principles (GAAP), the Company has presented Adjusted EBITDA, a non-GAAP financial measure. ChromaDex believes the presentation of this non-GAAP financial measure provides important supplemental information to management and investors and enhances the overall understanding of the Company’s historical and current financial operating performance. The Company believes disclosure of the non-GAAP financial measure has substance because the excluded expenses are infrequent in nature, are variable in nature or do not represent current cash expenditures. Further, such non-GAAP financial measure is among the indicators the Company uses as a basis for evaluating the Company’s financial performance as well as for planning and forecasting purposes. Accordingly, disclosure of this non-GAAP financial measure provides investors with the same information that management uses to understand the Company’s economic performance year-over-year.

Adjusted EBITDA is defined as net income (loss) before (a) interest, (b) depreciation, (c) amortization, (d) non-cash share-based compensation costs and (e) severance and restructuring expense. While ChromaDex believes that this non-GAAP financial measure provides useful supplemental information to investors, there are limitations associated with the use of such measure. This measure is not prepared in accordance with GAAP and may not be directly comparable to similarly titled measures of other companies due to potential differences in the method of calculation. Management compensates for these limitations by relying primarily on the Company’s GAAP results and by using Adjusted EBITDA only supplementally and by reviewing the reconciliation of the non-GAAP financial measure to its most comparable GAAP financial measure.

Non-GAAP financial measures are not prepared in accordance with, or an alternative for, generally accepted accounting principles in the United States. The Company’s non-GAAP financial measure is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the company’s consolidated financial statements prepared in accordance with GAAP.

ChromaDex Earnings Conference Call First Quarter 2024 Rob Fried Chief Executive Officer Brianna Gerber Chief Financial Officer Andrew Shao SVP Scientific & Regulatory Affairs Nasdaq: CDXC | May 8, 2024

SAFE HARBOR STATEMENT SAFE HARBOR STATEMENT 2 This presentation and other written or oral statements made from time to time by representatives of ChromaDex contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements reflect the current view about future events. Statements that are not historical in nature, such as 2024 financial outlook, and which may be identified by the use of words like “expects,” “anticipates,” “intends,” “estimates,” “plans,” “potential,” “possible,” “probable,” “believes,” “seeks,” “may,” “will,” “should,” “could,” “predicts,” “projects,” “continue,” “would” or the negative of these terms and other words of similar meaning, are forward-looking statements. Such statements include, but are not limited to, statements contained in this presentation relating to our expected sales, cash flows, planned investments, and financial performance, business, business strategy, expansion, growth, key drivers (including cost savings and increased investments), products and services we recently offered and their impact on our performance or products and services we may offer in the future and the timing of their development, sales and marketing strategy and capital outlook. Forward-looking statements are based on management’s current expectations and assumptions regarding our business, the economy and other future conditions and are subject to inherent risks, uncertainties and changes of circumstances that are difficult to predict and may cause actual results to differ materially from those contemplated or expressed. We caution you therefore against relying on any of these forward-looking statements. These risks and uncertainties include those risk factors discussed in Part I, “Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities Exchange Commission (the “Commission”), and in subsequent filings with the Commission. Any forward-looking statements are qualified in their entirety by reference to the factors discussed in these filings with the Commission. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Important factors that could cause actual results to differ materially from those in the forward looking statements include but are not limited to: inflationary conditions and adverse economic conditions; our history of operating losses and need to obtain additional financing; the growth and profitability of our product sales; our ability to maintain sales, marketing and distribution capabilities; changing consumer perceptions of our products; our reliance on a single or limited number of third-party suppliers; risks of conducting business in China; and the risks and uncertainties associated with our business and financial condition in general. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. About Non-GAAP Financial Measures ChromaDex’s non-GAAP financial measure, Adjusted EBITDA, is defined as net income (loss) before interest, depreciation, amortization, non-cash share- based compensation costs and severance and restructuring expense. ChromaDex used this non-GAAP measures when evaluating its financial results as well as for internal resource management, planning and forecasting purposes. This non-GAAP measure should not be viewed in isolation from or as a substitute for ChromaDex’s financial results in accordance with GAAP. Reconciliation of this non-GAAP measure to the most directly comparable GAAP measure is attached to this presentation. FDA Disclaimer Statements made in this presentation have not been evaluated by the Food and Drug Administration. ChromaDex products are not intended to diagnose, treat, cure, or prevent any disease. The statements in this presentation are for investor relations and educational purposes only and not intended for consumers or vendors.

3 Q1 2024 & Recent Highlights (1) See slide 10 for the non-GAAP reconciliation (2) Excluding Tru Niagen Pro 1,000 mg, which is NSF Certified for Sport®. Built upon solid foundation in the first quarter with continued financial discipline across the P&L, while advancing strategic R&D initiatives and broadening Tru Niagen® retail footprint with new partners. Remain focused on second half 2024 execution. • Total company and Tru Niagen® net sales of $22.2 million and $17.4 million, respectively. • Delivered solid gross margins of 60.7%, up 80 basis points YoY, compared to 59.9%. • Total sales and marketing expense improved as a percentage of net sales YoY (30.4% vs 34.9%). • Net loss was $0.5 million, or $0.01 loss per share, a $1.4 million improvement, or $0.02 per share YoY. • Underlying business, as measured by Adjusted EBITDA, improved to $0.7 million from $(0.1) million in the prior year quarter.(1) • Delivered positive operating cash flows of $0.3 million, ending with $27.6 million in cash and no debt. • In March 2024, the Tru Niagen® product portfolio(2) attained third-party verification through the Alkemist Assured™ testing transparency program conducted by Alkemist Labs, a distinguished third-party testing laboratory known for its rigorous analysis of herbal and dietary supplements. This verification reinforces ChromaDex's commitment to excellence by ensuring high- quality, safe ingredients and transparency. • In April 2024, expanded distribution of Tru Niagen®, announcing partnerships with The Vitamin Shoppe and Sprouts Farmers Market, both targeting health-conscious consumers. Tru Niagen® is now available in 700 The Vitamin Shoppe and Super Supplements specialty retail locations and online, as well as in 400 Sprouts Farmers Market locations, marking the inaugural launch with a major U.S. grocery chain. • Reiterated full year 2024 outlook, including net sales growth of at least 16%. Revenues expected to ramp in second half 2024.

Management Team 4 Rob Fried Chief Executive Officer E-commerce & entertainment industry executive Savoy Pictures, Columbia Pictures, Fried Films, FeeIn, WHN, Healthspan Research Brianna Gerber Chief Financial Officer Over 20 years of diverse experience in investment management and finance at the Capital Group, Mattel, and ChromaDex Andrew Shao SVP, Global Regulatory & Scientific Affairs Over two decades of global nutrition industry experience at Amway, Herbalife Nutrition, and the Council for Responsible Nutrition David Kroes SVP, People Matter(s) Over 20 years of diverse Human Resources experience consulting in companies at various stages of growth to enhance culture, improve productivity, and promote diversity, equity, and inclusion Jason Campbell SVP, Business Development Over 25 years of life science business experience specialized in clinical research, biotechnology, drug discovery and development, and food and nutrition quality and safety

6 Q1 2024 Net Sales Mix E-Commerce 54% Watson's & Other B2B 24% Niagen® Ingredient 17% Analytical Reference Standards & Services 4% Other Ingredients 1% Q1 2023 $22.5 MM E-Commerce 58% Watson's & Other B2B 20% Niagen® Ingredient 19% Analytical Reference Standards & Services 3% $22.2 MM Q1 2024 • Tru Niagen® net sales remained at 78% of net sales for Q1 2024 and Q1 2023(1) • Niagen®-related net sales increased to 97% of net sales in Q1 2024 compared to 95% in Q1 2023(2) Higher mix of Niagen®-related sales in Q1 2024 compared to the prior year, driven by stronger E-Commerce sales and Niagen® ingredient sales. (1) Tru Niagen® net sales include E-Commerce, Watson’s/Other B2B (2) Niagen®-related sales include Tru Niagen® and Niagen® ingredient

7 Q1 2024 Net Sales Q1 2024 Net Sales ($ in millions) 12.9 4.5 4.1 0.7 0.0 E-Commerce Watson's & Other B2B Niagen® Ingredient Analytical Reference Standards & Services Other Ingredients $17.4 YoY % (vs Q1 2023) +5% (17)% +5% (11)% (100)% (2)% Tru Niagen® business down 2% year-over-year driven by lower Watson’s and Other B2B sales, partially offset by higher E-Commerce sales and Niagen® ingredient sales. Total Growth Rates (1) Other Ingredients sales were $.2MM in Q1 2023

8 2022 – 2024 YTD Net Sales Summary ($ in millions) 2022 2023 2024 Description Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 E-Commerce 10.9 12.0 11.3 11.1 45.3 12.2 13.0 12.7 13.3 51.2 12.9 Watsons 2.6 1.5 2.6 3.3 10.0 3.7 3.0 3.1 3.0 12.8 3.0 Other B2B 1.4 1.0 0.7 1.7 4.8 1.7 0.9 1.6 1.3 5.5 1.5 Total TRU NIAGEN 14.9 14.5 14.6 16.1 60.1 17.6 16.9 17.4 17.6 69.5 17.4 NIAGEN Ingredient 1.1 1.5 1.8 3.9 8.3 3.9 2.5 1.4 2.7 10.5 4.1 NIAGEN Related Revenues 16.0 16.0 16.4 20.0 68.4 21.5 19.4 18.8 20.3 80.0 21.5 Other Ingredients 0.3 0.0 0.0 0.1 0.4 0.2 0.2 0.0 0.2 0.6 0.0 Analytical Reference Standards & Services 0.9 0.7 0.7 0.9 3.2 0.8 0.7 0.7 0.7 2.9 0.7 Total Net Sales 17.2 16.7 17.1 21.0 72.0 22.5 20.3 19.5 21.2 83.5 22.2 TRU NIAGEN as % of Total Net Sales 87 % 87 % 85 % 77 % 83 % 78 % 83 % 89 % 83 % 83 % 78 % NIAGEN Related Revenues as % of Total Net Sales 93 % 95 % 96 % 95 % 95 % 95 % 95 % 97 % 96 % 96 % 97 % YOY Growth Rate - Net Sales Total Company 18 % (5) % (1) % 18 % 7 % 31 % 21 % 14 % 1 % 16 % (2) % NIAGEN Related 18 % (4) % (1) % 20 % 8 % 34 % 21 % 15 % 2 % 17 % — % Total TRU NIAGEN 20 % (6) % (1) % 14 % 6 % 18 % 16 % 19 % 9 % 16 % (2) %

9 Q1 2024 vs Q1 2023 Key P&L Metrics (in thousands) Q1 2024 Q1 2023 Notes Net Sales $22,153 $22,556 Tru Niagen® business down 2% as growth in e-commerce sales was offset by lower Watson’s and other distributor partner sales, primarily driven by timing of sales. Gross Profit % of Net Sales 13,456 60.7% 13,518 59.9% Up 80bps primarily driven by changes in business mix. Sales and Marketing % of Net Sales 6,740 30.4% 7,874 34.9% Improvements reflect a focus on initiatives that drive direct & efficient returns in the current year quarter, compared to the prior year quarter which included a large investment in a strategic brand building event. Research and Development 2,095 1,193 Increased R&D investments to support future product launches and strategic initiatives, including NAD+ precursor development. General and Administrative 5,352 6,419 Driven by reductions in executive and other administrative headcount, provisions for credit losses, severance and restructuring expense and share-based compensation expense Total Operating Expense 14,187 15,486 Lower G&A and sales and marketing expenses, partially offset by strategic investments in R&D. Operating Loss $(731) $(1,968) Reflects improved gross margins and lower operating expense.

10 Adjusted EBITDA Summary In Q1 2024 Adjusted EBITDA improved to $0.7 million from $(0.1) million in the prior year quarter, driven by improvements in net loss, partially offset by lower share-based compensation and severance expense as well as higher interest income. ChromaDex Corporation and Subsidiaries Reconciliation of Non-GAAP Finanical Measures (In thousands) Three months ended Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Net loss, as reported $ (7,740) $ (6,397) $ (985) $ (1,418) $ (1,902) $ (2,191) $ (959) $ 114 $ (492) Adjustments Interest (income) expense 8 10 5 (26) (66) (125) (188) (282) (239) Depreciation 201 212 235 221 228 232 233 177 178 Amortization of intangibles 49 50 44 43 41 39 39 39 38 Amortization of right of use assets 299 169 170 191 171 173 176 157 174 Share-based compensation 1,888 1,296 1,229 1,326 1,273 1,324 1,117 1,037 984 Severance and restructuring 821 17 181 13 186 766 86 5 27 Other income - Employee Retention Tax Credit — — (2,085) — — — — — — Adjusted EBITDA $ (4,474) $ (4,643) $ (1,206) $ 350 $ (69) $ 218 $ 504 $ 1,247 $ 670

11 Q1 2024 Operating Loss vs Q1 2023 (in millions) -$1.1 MM+$2.4 MM (2.0) 1.1 0.8 0.2 0.2 0.1 (0.9) (0.2) (0.7) Q1 2023 Operating Loss Sales & Marketing Other G+A Gross Margin Improvement Severance and Restructuring Equity Comp (G+A) Research and Development Volume Q1 2024 Operating Loss (2.0) (1.0) — 1.0

12 Quarterly Balance Sheet Highlights (in thousands) 12/31/21 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 Key Drivers (Q4 2023 vs Q1 2024) Cash $28,219 $20,441 $23,141 $26,406 $26,773 $27,325 $27,565 Up $0.2 million driven by cash provided from operations Inventory 13,601 14,677 11,908 11,973 12,624 14,525 12,495 Down $2.0 million driven by timing of inventory purchases and sales Trade Receivables 5,226 8,482 9,221 6,118 5,601 5,234 6,604 Up $1.4 million driven by timing of purchases and collections Accrued Liabilities 6,481 7,337 8,610 8,079 9,193 9,493 10,465 Up $1.0 million driven by changes in and timing of expenses Accounts Payable 10,423 9,679 8,951 10,031 9,198 10,232 7,899 Down $2.3 million driven by timing of disbursements Equity $31,727 $28,672 $28,017 $27,150 $27,308 $28,456 $28,951 Up $0.5 million driven by share-based compensation, partially offset by net loss Demonstrated financial discipline across the business while increasing investments in R&D to support strategic initiatives.

13 Quarterly Cash Flow Highlights (in thousands) FY 2021 FY 2022 3/31/23 6/30/23 9/30/23 12/31/2023 FY 2023 3/31/24 Net Loss $(27,128) $(16,540) (2) $(1,902) $(2,191) $(959) $114 $(4,938) $(492) Working Capital (4,915) (5,927) (2) 2,644 3,401 (422) (417) 5,206 (643) Cash From / (Used for) Operations (24,163) (15,098) 2,792 3,280 396 649 7,117 295 Cash Used for Investing (409) (334) (91) (5) (26) (21) (143) (41) Cash From / (Used for) Financing 36,094 (1) 7,654 (3) (1) (10) (3) (76) (90) (14) Net Increase / (Decrease) in Cash $11,522 $(7,778) $2,700 $3,265 $367 $552 $6,884 $240 Ending Cash Balance $28,219 $20,441 $23,141 $26,406 $26,773 $27,325 $27,325 $27,565 1. Includes $27.2 million in proceeds from the sale of common stock, net of $428,000 issuance costs and includes $9.5 million in proceeds from exercise of stock options. 2. Includes $2.1 million related to the Employee Retention Tax Credit (no net cash flow impact). 3. Includes $7.7 million in proceeds from the sale of common stock, net of $353,000 issuance costs. Continued to deliver positive cash flows from operations, ending the quarter with $27.6 million and no debt.

14 2024 Financial Outlook (in thousands) 2022 Actual 2023 Actual 2024 Full Year Outlook Key Drivers Net Sales $72,050 $83,570 Higher YoY growth compared to FY 2023 growth of +16% (unchanged from last quarter’s outlook) • Includes growth from e-commerce business and recurring revenues from established partnerships • Includes revenues from new partnerships, new channels, and new product launches Gross Margin % (as a % of net sales) 59.4% 60.8% Slight improvement YoY (unchanged from last quarter’s outlook) • Continued supply chain optimization and cost savings initiatives, building on 2023 progress Selling, Marketing & Advertising (as a % of net sales) 39.3% 31.6% Up in absolute dollars and stable as a % of net sales YoY (unchanged from last quarter’s outlook) • Focused and optimized investments to drive Tru Niagen® brand awareness, and support new market launches, while maintaining efficiency Research & Development $4,826 $4,958 Up in absolute dollars YoY (unchanged from last quarter’s outlook) • Increased investment in new innovations that are close to launch, along with new NAD precursor development and future innovation General & Administrative $36,379 $24,983 Up $1.5 to $2.5 million in absolute dollars YoY (unchanged from last quarter’s outlook) • Increased infrastructure investments and legal expense to support growth of existing business, along with new market launches. Will remain disciplined in overall spending as we scale. Continued solid revenue growth in 2024, with focused investments to support brand building initiatives and new market launches, along with R&D investments to drive future innovation and growth. Disciplined focus on top- and bottom-line.

16 Science Continues to Expand (1) There are 95 ongoing, completed, and published clinical studies currently registered on clinicaltrials.gov to investigate the pharmacokinetics and therapeutic effects of NR alone or in combination with other ingredients. 76 of these use NR only. Clinicaltrials.gov also includes two niacin studies and one device monitoring registry for a total of 98 under the search term “nicotinamide riboside.” (As of April 24, 2024) (2) 275+ research collaborations for Niagen® signed with research institutes and universities around the world. More than 90% of the studies are investigator-initiated and were developed to support applications for or receipt of third-party funding. The studies may not have been initiated if investigators were unable to secure funding. • Two new human trials on nicotinamide riboside registered since prior update:¹ ▪ The University of Texas Health Science Center, Houston (February 2024) • The objective is to determine whether NR decreases glucose uptake in the aorta of patients with smooth muscle dysfunction syndrome (SMDS). • A secondary objective is to evaluate the safety and tolerability of NR in SMDS patients, as well as determine if NR impacts blood NAD+ and NR levels. • Five participants will receive a weight-based dose of NR for 60 days. ▪ The University of Queensland (March 2024) • The objective is to test the effects of NR on ataxia scales (tests that measure coordination and balance), immune function, and nerve cell protection in patients with Ataxia Telangiectasia (AT). • Ten participants will receive 25 mg/kg of NR daily for 12 months. • Three new research studies were signed through ChromaDex External Research Program (CERP®).²

17 Scientific Advisory Board Charles Brenner, Ph.D. Alfred E Mann Family Foundation Chair, Department of Diabetes & Cancer Metabolism City of Hope World's Foremost Authority on NAD Metabolism Roger Kornberg, Ph.D. Chairman Professor of Structural Biology Stanford University Nobel Prize Winner, Chemistry, 2006 Rudolph Tanzi, Ph.D. Kennedy Professor of Neurology Harvard University Leading Alzheimer's Researcher, TIME 100 Most Influential 2015 Dr. Bruce German Chairman of Food, Nutrition, & Health University of California, Davis Leader in Food, Nutrition, & Wellness Innovation Professor Sir John Walker, Ph.D. Emeritus Director, MRC Mitochondrial Biology University of Cambridge Nobel Prize Winner, Chemistry, 1997 Brunie H. Felding, Ph.D. Associate Professor of Molecular Medicine Scripps Research Institute Renowned Breast Cancer Researcher focused on NAD+ supplementation Dr. David Katz President of True Health Initiative CEO of Diet ID World renowned physician & preventive medicine expert Dr. Vilhelm (Will) Bohr, M.D., Ph.D., D.Sc. Professor in Genome Instability and Neurodegeneration, Department of Cellular and Molecular Medicine, University of Copenhagen. One of the world’s most published researchers on aging and neurodegenerative disease NOBEL PRIZE WINNERS | CHEMISTRY

18 Clinical Studies on Niagen® in Multiple Health Areas Note: highlighted achievements in duration, participation and dosage only consider completed studies. (As of April 24, 2024)

The information contained in this documents is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed without the prior written consent (2019) Contact Info: Ben Shamsian Lytham Partners T: +1(646) 829-9701 Shamsian@LythamPartners.com www.ChromaDex.com Where to buy Tru Niagen® TruNiagen.com Amazon.com 19

Cover	May 08, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 08, 2024
Entity Registrant Name	CHROMADEX CORPORATION
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37752
Entity Tax Identification Number	26-2940963
Entity Address, Address Line One	10900 Wilshire Blvd.
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90024
City Area Code	(310)
Local Phone Number	388-6706
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CDXC
Entity Emerging Growth Company	false
Entity Central Index Key	0001386570
Amendment Flag	false
Security Owned Not Readily Marketable, Name [Domain]	NASDAQ