ChromaDex
Earnings Conference Call Fourth Quarter 2020
Rob Fried
Chief Executive Officer
Frank Jaksch
Co-Founder / Executive Chairman
Kevin Farr
Chief Financial Officer
Nasdaq: CDXC | March 10, 2021
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. Forward-looking statements reflect the current view about future events. Statements that are not historical in nature, such as 2020 financial outlook, and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be," "future" 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 and financial performance, business, business strategy, expansion, growth, products and services we may offer in the future and the timing of their development, sales and marketing strategy and capital outlook, and the timing and results of pre-clinical and clinical trials. 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
Annual Report on Form 10-K for the year ended December 31, 2020, to be filed with the Securities Exchange Commission (the
SAFE HARBOR
STATEMENT
"Commission"), and in our other periodic 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: the effect of the COVID-19 pandemic on our business, results of operations, financial condition and cash flows; a decline in general economic conditions nationally and internationally; decreased demand for our products and services; market acceptance of our products; the ability to protect our intellectual property rights; impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; inability to raise capital to fund continuing operations; changes in government regulation; and the ability to complete customer transactions and capital raising transactions.
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 measures exclude interest, income tax, depreciation, amortization, non-cash share-based compensation costs, severance and restructuring expense, bad debt expense related to Elysium Health and total legal expense for adjusted EBITDA excluding total legal expense. ChromaDex used these non-GAAP measures when evaluating its financial results as well as for internal resource management, planning and forecasting purposes. These non-GAAP measures should not be viewed in isolation from or as a substitute for ChromaDex's financial results in accordance with GAAP. Reconciliation of GAAP to non-GAAP measures are 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.
SAFE HARBOR STATEMENT
Q4 2020 & Recent Highlights
✓ Total company net sales up 9% and Tru Niagen® up 4% sequentially. Niagen® up 21% YoY.
Total company net sales up 18% and Tru
✓ Net loss was ($6.1) million or ($0.10) per share, compared to a net loss of ($8.9) million or ($0.15) per share in Q4 2019.
✓ Underlying business, as measured by Adjusted EBITDA excluding legal expense, delivered a loss of ($1.1) million, a $1.0 million improvement YoY and approaching break-even objective for full year 2020, with a loss of ($1.0) million.
✓ Delivered supply chain and organizational realignment cost savings, with 61% gross margins and controlled growth in operating expense.
✓ Delivered on full year 2020 financial outlook across all metrics. Slightly better than target on selling and marketing and G&A expense.
✓ Growing body of clinical research suggests that nicotinamide riboside ("NR") may support areas of human health.
✓ Ended the year with $16.7 million in cash. In February, strengthened the balance sheet with $25 million common stock investment.
✓ Remain committed to achieving cash flow break-even while making investments to drive long-term growth.
Demonstrated financial and operational discipline. Advanced the science. Invested in organizational infrastructure, brand building initiatives and R&D pipeline to capitalize on the rapidly growing global NAD+ market.
Management Team
Rob Fried
Chief Executive Officer
E-Commerce & entertainment industry executive
Savoy Pictures, Columbia Pictures, Fried Films, FeeIn, WHN, Healthspan Research
Frank Jaksch
Executive Chairman
Co-founded ChromaDex in 2000
Kevin Farr
Chief Financial Officer
Former CFO, Mattel PriceWaterhouse Licensed CPA
Mark Friedman
Chief Legal Officer
Former EVP & General Counsel, Herbalife
Frank Fazio
SVP of Global Business Development & Sales
Over 25 years of experience with leading consumer brands in the healthcare industry
ZO Skin Health, Suneva Medical, Allergan/Inamed
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ChromaDex Corp. published this content on 10 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 March 2021 21:11:06 UTC.