Niagen Bioscience
NAGE on Nasdaq. Niagen Bioscience sells supplements to consumers who want to stay healthy as they age. Market value $212m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$2.68 a share, 3% above its 1-year low
Over the past year the price has ranged from $2.61 to $7.95.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $67m | $72m | $84m | $100m | $129m |
| Operating margin | |||||
| Operating margin | -40.1% | -25.9% | -6.7% | 7.8% | 12.6% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.08bn | 0.08bn | 0.08bn | 0.08bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 16.9% a year
- Buying back its own sharesNo, 6% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $30 million last quarter, down 4% on a year ago.
- Profit: $963,000, down 73% on a year ago.
- It keeps 8 cents of each $1 of sales as operating profit, down from 14 cents a year earlier.
- 4% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $26m |
| December 2024 | $29m |
| March 2025 | $30m |
| June 2025 | $31m |
| September 2025 | $34m |
| December 2025 | $34m |
| March 2026 | $31m |
| June 2026 | $30m |
| Quarter to | Amount |
|---|---|
| September 2024 | $2m |
| December 2024 | $7m |
| March 2025 | $5m |
| June 2025 | $4m |
| September 2025 | $5m |
| December 2025 | $4m |
| March 2026 | $6m |
| June 2026 | $963,000 |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 4 March 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 140 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| GAMCO InvestorsMario Gabelli | $231,913 | <0.1% | Cut |
| Royce & AssociatesChuck Royce | $38,819 | <0.1% | New |
Largest holders overall
- BlackRock$13mAdded
- SteelPeak Wealth$11mAdded
- Vanguard Capital Management$7m
- Tieton Capital Management$6m
- Qube Research & Technologies$5mCut
- Geode Capital Management$5mAdded
- UBS Group AG$4mCut
- Goldman Sachs Group$4m
- Arrowstreet Capital, Limited Partnership$4mCut
- Vanguard Portfolio Management$4mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- BlackRock, Inc.Passive investor5.2%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 5.2% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $45,616 of shares on the open market.
- Pamir OzanChief Financial OfficerBought
- Date
- 14 November 2025
- Shares
- 6,685
- Price
- $6.82
- Value
- $45,616
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 14 November 2025 | Pamir Ozan Chief Financial Officer | Bought | 6,685 | $6.82 | $45,616 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the serious warning signs we check for were found. 1 thing worth knowing.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 4 Mar 2026, plus the 10-Q filed 4 Aug 2026 and 4 later 8-Ks.
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On October 8, 2024, Marcum LLP (“Marcum”) notified ChromaDex Corporation (the “Company”) that it was resigning, effective October 31, 2024, as the independent registered public accounting firm for the Company due to independence concerns relating to Marcum’s impending merger with CBIZ Inc., which provides human resources consulting and health insurance brokerage services to the Company.”
From an 8-K filed 11 October 2024: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.