Niagen Bioscience IncNiagen Bioscience Inc
Niagen Bioscience Inc

Niagen Bioscience Inc

NAGE
Health Care·Pharmaceuticals

Niagen Bioscience, Inc. is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, Analytical Reference Standards and Services, and Pharmaceuticals. The Consumer Products segment provides finished dietary supplement products that contain the firm’s proprietary ingredients directly to consumers as well as to distributors. The Ingredients segment supplies ingredients as raw materials to the manufacturers of consumer products. The Analytical Reference Standards and Services segment includes supply of phytochemical reference standards and other research and development services. The Pharmaceuticals segment focuses on the pharmaceutical development of NAD precursor portfolio for potential therapeutic applications in rare diseases. The company was founded by Mark S. Germain and Frank L. Jaksch, Jr. in 1999 and is headquartered in Los Angeles, CA.

California; U.S.A
Market cap
$209.7MNo data
Revenue
$129.4M+29.9% YoY
Net income
$17.4M+103.3% YoY
Free cash flow
$13.5M+11.5% YoY

Market

Listed stock
NAGEPriceNasdaq
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Financial performance

Revenue
$129.4M+29.9% YoY
Operating income
$16.3M+110.7% YoY
Net income
$17.4M+103.3% YoY
Free cash flow
$13.5M+11.5% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $67.4M, 2022 $72.1M, 2023 $83.6M, 2024 $99.6M, 2025 $129.4M. Operating income: 2021 $-27.1M, 2022 $-18.6M, 2023 $-5.6M, 2024 $7.7M, 2025 $16.3M. Net income: 2021 $-27.1M, 2022 $-16.5M, 2023 $-4.9M, 2024 $8.6M, 2025 $17.4M. Free cash flow: 2021 $-24.2M, 2022 $-15.1M, 2023 $7.1M, 2024 $12.1M, 2025 $13.5M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
29.9%+1077 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $-27.1M, 2022-12-31 $-18.6M, 2023-12-31 $-5.6M, 2024-12-31 $7.7M, 2025-12-31 $16.3M. Net income: 2021-12-31 $-27.1M, 2022-12-31 $-16.5M, 2023-12-31 $-4.9M, 2024-12-31 $8.6M, 2025-12-31 $17.4M. Free cash flow: 2021-12-31 $-24.2M, 2022-12-31 $-15.1M, 2023-12-31 $7.1M, 2024-12-31 $12.1M, 2025-12-31 $13.5M

Growth heatmap

2022202320242025CAGR
Revenue
+6.8%
+16.0%
+19.2%
+29.9%
+17.7%
Gross profit
+3.2%
+18.7%
+21.3%
+35.1%
+19.0%
Operating income
+31.2%
+69.9%
+238.0%
+110.7%
No data
Free cash flow
+37.5%
+147.1%
+70.1%
+11.5%
No data

Earnings quality

Operating cash flow
$13.5M+11.5% YoY
Net income
$17.4M+103.3% YoY
Free cash flow
$13.5M+11.5% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 78%, 2024-12-31 142%, 2023-12-31 -144%, 2022-12-31 91%, 2021-12-31 89%. Free cash flow: 2025-12-31 78%, 2024-12-31 142%, 2023-12-31 -144%, 2022-12-31 91%, 2021-12-31 89%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
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No data
Free cash flow yield
No data
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No data