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v3.23.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | The following tables set forth financial information by segment:
Three months ended June 30, 2023 |  | Consumer Products segment |  | Ingredients segment |  | Analytical Reference Standards and Services segment |  | Corporate and other |  | Total
(In thousands) |  |  |  |  |
Net sales |  | $ | 16,891 |  |  | $ | 2,704 |  |  | $ | 728 |  |  | $ | — |  |  | $ | 20,323 |
Cost of sales |  | 5,959 |  |  | 1,232 |  |  | 776 |  |  | — |  |  | 7,967 |
Gross profit (loss) |  | 10,932 |  |  | 1,472 |  |  | (48) |  |  | — |  |  | 12,356 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Sales and marketing |  | 5,892 |  |  | 19 |  |  | 98 |  |  | — |  |  | 6,009 |
Research and development |  | 1,169 |  |  | 196 |  |  | — |  |  | — |  |  | 1,365 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 7,298 |  |  | 7,298 |
Operating expenses |  | 7,061 |  |  | 215 |  |  | 98 |  |  | 7,298 |  |  | 14,672 |
Operating income (loss) |  | $ | 3,871 |  |  | $ | 1,257 |  |  | $ | (146) |  |  | $ | (7,298) |  |  | $ | (2,316) |
Six Months Ended June 30, 2023 |  | Consumer Products segment |  | Ingredients segment |  | Analytical Reference Standards and Services segment |  | Corporate and other |  | Total
(In thousands) |  |  |  |  |
Net sales |  | $ | 34,524 |  |  | $ | 6,828 |  |  | $ | 1,527 |  |  | $ | — |  |  | $ | 42,879 |
Cost of sales |  | 12,363 |  |  | 3,113 |  |  | 1,529 |  |  | — |  |  | 17,005 |
Gross profit (loss) |  | 22,161 |  |  | 3,715 |  |  | (2) |  |  | — |  |  | 25,874 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Sales and marketing |  | 13,665 |  |  | 37 |  |  | 181 |  |  | — |  |  | 13,883 |
Research and development |  | 2,136 |  |  | 422 |  |  | — |  |  | — |  |  | 2,558 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 13,717 |  |  | 13,717 |
Operating expenses |  | 15,801 |  |  | 459 |  |  | 181 |  |  | 13,717 |  |  | 30,158 |
Operating income (loss) |  | $ | 6,360 |  |  | $ | 3,256 |  |  | $ | (183) |  |  | $ | (13,717) |  |  | $ | (4,284) |
Three months ended June 30, 2022 |  | Consumer Products segment |  | Ingredients segment |  | Analytical Reference Standards and Services segment |  | Corporate and other |  | Total
(In thousands) |  |  |  |  |
Net sales |  | $ | 14,520 |  |  | $ | 1,464 |  |  | $ | 748 |  |  | $ | — |  |  | $ | 16,732 |
Cost of sales |  | 5,218 |  |  | 681 |  |  | 791 |  |  | — |  |  | 6,690 |
Gross profit (loss) |  | 9,302 |  |  | 783 |  |  | (43) |  |  | — |  |  | 10,042 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Sales and marketing |  | 7,864 |  |  | — |  |  | 157 |  |  | — |  |  | 8,021 |
Research and development |  | 1,113 |  |  | 132 |  |  | — |  |  | — |  |  | 1,245 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 7,163 |  |  | 7,163 |
Operating expenses |  | 8,977 |  |  | 132 |  |  | 157 |  |  | 7,163 |  |  | 16,429 |
Operating income (loss) |  | $ | 325 |  |  | $ | 651 |  |  | $ | (200) |  |  | $ | (7,163) |  |  | $ | (6,387) |
Six Months Ended June 30, 2022 |  | Consumer Products segment |  | Ingredients segment |  | Analytical Reference Standards and Services segment |  | Corporate and other |  | Total
(In thousands) |  |  |  |  |
Net sales |  | $ | 29,457 |  |  | $ | 2,891 |  |  | $ | 1,643 |  |  | $ | — |  |  | $ | 33,991 |
Cost of sales |  | 10,470 |  |  | 1,403 |  |  | 1,544 |  |  | — |  |  | 13,417 |
Gross profit |  | 18,987 |  |  | 1,488 |  |  | 99 |  |  | — |  |  | 20,574 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Sales and marketing |  | 15,938 |  |  | 24 |  |  | 296 |  |  | — |  |  | 16,258 |
Research and development |  | 2,115 |  |  | 208 |  |  | — |  |  | — |  |  | 2,323 |
General and administrative |  | — |  |  | — |  |  | — |  |  | 16,112 |  |  | 16,112 |
Operating expenses |  | 18,053 |  |  | 232 |  |  | 296 |  |  | 16,112 |  |  | 34,693 |
Operating income (loss) |  | $ | 934 |  |  | $ | 1,256 |  |  | $ | (197) |  |  | $ | (16,112) |  |  | $ | (14,119) |
Schedule of Disaggregation of Revenue | Disaggregated revenues are as follows:
Three Months Ended June 30, 2023 |  | Consumer Products Segment |  | Ingredients Segment |  | Analytical Reference Standards and Services Segment |  | Total
(In thousands) |  |  |  |
Tru Niagen®, Consumer Product |  | $ | 16,891 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,891 |
Niagen® Ingredient |  | — |  |  | 2,500 |  |  | — |  |  | 2,500 |
Subtotal Niagen® Related |  | 16,891 |  |  | 2,500 |  |  | — |  |  | 19,391 |
Other Ingredients |  | — |  |  | 204 |  |  | — |  |  | 204 |
Reference Standards |  | — |  |  | — |  |  | 693 |  |  | 693 |
Consulting and Other |  | — |  |  | — |  |  | 35 |  |  | 35 |
Subtotal Other Goods and Services |  | — |  |  | 204 |  |  | 728 |  |  | 932 |
Total Net Sales |  | $ | 16,891 |  |  | $ | 2,704 |  |  | $ | 728 |  |  | $ | 20,323 |
Six Months Ended June 30, 2023 |  | Consumer Products Segment |  | Ingredients Segment |  | Analytical Reference Standards and Services Segment |  | Total
(In thousands) |  |  |  |
Tru Niagen®, Consumer Product |  | $ | 34,524 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,524 |
Niagen® Ingredient |  | — |  |  | 6,398 |  |  | — |  |  | 6,398 |
Subtotal Niagen® Related |  | 34,524 |  |  | 6,398 |  |  | — |  |  | 40,922 |
Other Ingredients |  | — |  |  | 430 |  |  | — |  |  | 430 |
Reference Standards |  | — |  |  | — |  |  | 1,468 |  |  | 1,468 |
Consulting and Other |  | — |  |  | — |  |  | 59 |  |  | 59 |
Subtotal Other Goods and Services |  | — |  |  | 430 |  |  | 1,527 |  |  | 1,957 |
Total Net Sales |  | $ | 34,524 |  |  | $ | 6,828 |  |  | $ | 1,527 |  |  | $ | 42,879 |
Three Months Ended June 30, 2022 |  | Consumer Products Segment |  | Ingredients Segment |  | Analytical Reference Standards and Services Segment |  | Total
(In thousands) |  |  |  |
Tru Niagen®, Consumer Product |  | $ | 14,520 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,520 |
Niagen® Ingredient |  | — |  |  | 1,454 |  |  | — |  |  | 1,454 |
Subtotal Niagen® Related |  | 14,520 |  |  | 1,454 |  |  | — |  |  | 15,974 |
Other Ingredients |  | — |  |  | 10 |  |  | — |  |  | 10 |
Reference Standards |  | — |  |  | — |  |  | 704 |  |  | 704 |
Consulting and Other |  | — |  |  | — |  |  | 44 |  |  | 44 |
Subtotal Other Goods and Services |  | — |  |  | 10 |  |  | 748 |  |  | 758 |
Total Net Sales |  | $ | 14,520 |  |  | $ | 1,464 |  |  | $ | 748 |  |  | $ | 16,732 |
Six Months Ended June 30, 2022 |  | Consumer Products Segment |  | Ingredients Segment |  | Analytical Reference Standards and Services Segment |  | Total
(In thousands) |  |  |  |
Tru Niagen®, Consumer Product |  | $ | 29,457 |  |  | $ | — |  |  | $ | — |  |  | $ | 29,457 |
Niagen® Ingredient |  | — |  |  | 2,585 |  |  | — |  |  | 2,585 |
Subtotal Niagen® Related |  | 29,457 |  |  | 2,585 |  |  | — |  |  | 32,042 |
Other Ingredients |  | — |  |  | 306 |  |  | — |  |  | 306 |
Reference Standards |  | — |  |  | — |  |  | 1,587 |  |  | 1,587 |
Consulting and Other |  | — |  |  | — |  |  | 56 |  |  | 56 |
Subtotal Other Goods and Services |  | — |  |  | 306 |  |  | 1,643 |  |  | 1,949 |
Total Net Sales |  | $ | 29,457 |  |  | $ | 2,891 |  |  | $ | 1,643 |  |  | $ | 33,991 |
Schedule of Major Customers | Percentage of net sales from major customers of the Company’s consumer products segment and ingredients segment for the periods indicated were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Major Customers |  | 2023 |  | 2022 |  | 2023 |  | 2022
A.S. Watson Group - Related Party |  | 14.7 | % |  | * |  | 15.6 | % |  | 12.0 | %
Life Extension |  | 10.0 | % |  | * |  | * |  | *
* Represents less than 10% The percentage of the amounts due from major customers to total trade receivables, net for the periods indicated were as follows:
Major Customers |  | At June 30, 2023 |  | At December 31, 2022
A.S. Watson Group - Related Party |  | 45.3 | % |  | 36.6 | %
Nestlé (NHSc) |  | * |  | 23.6 | %
Amazon Marketplaces |  | 11.2 | % |  | *
Life Extension |  | 22.8 | % |  | *
* Represents less than 10%

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