Q1 2024 Chromadex Corp Earnings Call Transcript
Key Points
- ChromaDex Corp (CDXC) reported a solid start to 2024 with $22.2 million in revenue and a positive adjusted EBITDA of $0.7 million, marking the fourth consecutive quarter of positive adjusted EBITDA.
- The company has maintained a strong balance sheet with $27.6 million in cash and no debt, demonstrating robust financial health.
- ChromaDex Corp (CDXC) has seen a 5% year-over-year increase in e-commerce sales, indicating successful online marketing strategies and campaigns.
- New partnerships with major specialty retail distributors like Sprouts Farmers Market and Vitamin Shoppe are expected to broaden consumer access and enhance the company's market presence.
- ChromaDex Corp (CDXC) continues to invest in scientific research and innovation, with several preclinical studies showing promising results for the therapeutic potential of their products.
- Despite overall growth, ChromaDex Corp (CDXC) experienced a 2% decline in total net sales compared to the first quarter of 2023, primarily due to a decrease in B2B sales.
- The company reported a net loss of $0.5 million for the quarter, indicating challenges in achieving profitability.
- ChromaDex Corp (CDXC)'s operating loss for Q1 2024 was $0.7 million, although this was an improvement from the previous year, it still reflects ongoing financial pressures.
- The anticipated launch of a new vertical has been delayed, which may affect revenue projections and growth expectations for 2024.
- Legal uncertainties and potential liabilities related to ongoing litigation could impact financial stability and distract from core business activities.
Ladies and gentlemen, thank you for standing by, and welcome to ChromaDex Corporation's First Quarter of 2024 earnings conference call. My name is Jessica, and I will be the conference operator today. At this time, all participants are in listen mode only mode. And as a reminder, this conference call is being recorded.
This afternoon, ChromaDex issued a news release announcing the Company's financial results for the first quarter of 2024. If you have not reviewed this information, both are available within the Investor Relations section of ChromaDex website at www.chromadex.com. I would now like to turn the conference call over to Ben Shamsian, Vice President of lithium partners. Please go ahead, Mr. Shafter.
Thank you. Good afternoon, and welcome to ChromaDex Corporation's First Quarter of 2024 Results Investor Call. With us today are ChromaDex's Chief Executive Officer, Rob Friel, Chief Financial Officer, Brianna Gerber, and Senior Vice President of
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