Niagen Cuts 2026 E-Commerce Outlook After Sales Slip

The Tip Desk · November 4, 2026 · 3 min read

Third-quarter net sales were $27.2 million as the company lowered full-year e-commerce growth to about 5% from a prior 10% to 15% range.

Niagen Bioscience, Inc. (NAGE), the NAD+ and healthy-aging company, reported third-quarter net sales of $27.2 million, including $23.3 million from Tru Niagen, and cut its full-year 2026 e-commerce growth outlook to approximately 5% year-over-year from a prior 10% to 15% range.

The sequential sales decline continued from the second quarter’s $29.8 million and the first quarter’s $31.5 million. Tru Niagen sales were $23.3 million versus $24.2 million in the second quarter. Direct-to-consumer website sales grew 13% year-over-year, slower than the 23% year-over-year increase reported in the second quarter.

Gross margin compressed to 62.9% from 64.8% in the second quarter, after 63.5% in the first quarter. The company said the 62.9% figure reflects the strength of its operational foundation.

The company swung to a net loss of $1.2 million, or $(0.01) a share, from net income of $1.0 million, or $0.01 a share, in the second quarter. Adjusted EBITDA, a non-GAAP measure, fell to $0.5 million from $3.0 million in the second quarter, after $3.8 million in the first quarter. Operating expenses were $18.7 million in the three months ended September 30, 2026, versus $17.7 million a year earlier. Sales and marketing expense was $8.7 million. General and administrative expense was $8.2 million. Research and development expense was $1.8 million.

Operating cash flow was $2.6 million in the three-month period. Cash and cash equivalents rose to $69.5 million at September 30 from $66.7 million at June 30.

Chief Executive Officer Rob Fried said the company navigated near-term commercial headwinds while continuing to generate positive adjusted EBITDA and $2.6 million in operating cash flow. He said 2026 is an investment year and that progress across consumer health, ingredients, injectables, skincare, and pharmaceuticals provides a springboard for growth in 2027 and beyond. The company continues to expect operating expenses to increase as it invests across commercial, research and administrative functions.

For the full year 2026, the company expects direct website revenues to grow 15% to 20% year-over-year and overall e-commerce to grow about 5% year-over-year. It expects the remainder of its consumer business to offset e-commerce growth. The ingredient business is expected to be lower than the prior year, primarily due to decreased volume from key ingredient partners because of competitive market dynamics, although additional ingredient partners were added in the third quarter and more are expected in the near term. The company is planning to introduce a lower-cost NR salt form, patented by Niagen Bioscience, which it expects will reduce cost of goods sold and strengthen the ingredient business. It expects Niagen Plus growth and new skincare partnerships to become meaningful contributors beginning in 2027.

During the quarter the company launched the liquid, ready-to-inject Niagen Plus At-Home Injection Kit through the Niagen Plus telehealth platform, launched Tru Niagen Skincare with Niagen NanoCloud as the first dermatologist-tested topical product, and started a “Don’t Get Old. Age Better.” brand campaign featuring Kelly Slater and more than 20 partners. It also launched Tru Niagen on Walmart.com and at nearly 300 GNC and Sam’s Club locations across 44 states combined.

NAD Pharmaceuticals engaged Red Sky Partners to support NB4168, a small-molecule investigational candidate targeting rare genetic diseases and aging-related disorders. The company announced a Start-Up Agreement with Mass General Brigham to begin planning what it envisions as the largest and most comprehensive clinical trial of Niagen to date, and published a peer-reviewed analysis in Aging Cell examining past clinical studies of Niagen supplementation and muscle epigenetic age acceleration.