Chromadex Corp (OTCMKTS:CDXC) reported record revenue for the first three months ended April 4, 2015. The financial numbers marks the fourth successive quarter of record revenues. In the quarter, the company posted record net revenue of $5.3 million, a growth of 71% over 1Q2014. The higher revenue was largely due to strong sales recorded in ingredients business division, led by NIAGEN® branded ‘nicotinamide riboside’. The net sales of the ingredients segment came at $2.7 million, a growth of 136% from 1Q2014. The ingredient business segment reported 36% sequential growth in the quarter.
The performance
The core standards and services division also recorded its largest quarterly growth of 32%, as it reported record net revenue of $2.3 million in 1Q2015. The scientific and regulatory consulting division net sales came at $281,000 compared to $202,000 for 1Q2014. The net loss assignable to common stock holders for 1Q2015 was $0.01 per share against a net loss of $0.02 per share for 1Q2014. At the end of quarter, cash/cash equivalents and marketable securities came at $3.2 million.
The momentum
Frank Jaksch, Jr., the CEO of Chromadex Corp (OTCMKTS:CDXC), said that net sales of company over the last four quarters indicate the strong momentum recorded in business model. The growing interest in brand NIAGEN® remains a prime revenue driver. The other segments including core standards and services sector are also witnessing strong growth. The company expects strong demand for services and programs that resolves quality concerns in supplements.
The achievement
A key achievement in the first quarter was ChromaDex’s PR in February that stated the initial data of the first human clinical trial for its NIAGEN® NR had achieved its primary endpoint. The data showed that a single NR dose resulted in statistically considerable growth in the co-enzyme NAD+ in healthy volunteers.
Chromadex Corp (OTCMKTS:CDXC) is currently trading at $1.36 gaining 0.76% from yesterday’s close.
