Niagen Bioscience Doubles Annual Profit, CEO Signals Acquisition Hunt And GLP-1-Style Expansion
Niagen Bioscience (NASDAQ:NAGE), whose anti-aging product counts longevity entrepreneur Bryan Johnson among its customers, reported its strongest financial results to date on Wednesday, doubling full-year profits and posting 30% revenue growth. The Los Angeles-based company also signaled it is actively looking at acquisitions and planning to expand into new consumer markets this year.
CEO Rob Fried, speaking exclusively with Benzinga ahead of the earnings call, said the company is evaluating potential acquisition targets, though no deal is imminent. “We are looking at companies,” Fried said. “We have not found one to pull the trigger on yet, but it is possible.”
The Next Bet: Injections, Beauty, And A Possible Deal
Founded in 1999, Niagen Bioscience makes NAD+ precursor supplements — compounds the body uses to produce a coenzyme that declines with age. Its flagship product, Tru Niagen, which is used by Johnson, competes in an increasingly crowded market.
NAD is a coenzyme essential to healthy bodies, but levels decline with age. Most NAD supplements are ineffective, and so, experts recommend precursors instead. Niagen’s active ingredient, nicotinamide riboside, has passed FDA safety reviews, though the product is not approved to treat or prevent disease.
Fried was blunt about the newer entrants. “These are people that are just basically marketers. They are selling sawdust,” he said of companies selling NAD as a direct supplement, which he says the body cannot absorb.
Niagen currently supplies pharmaceutical-grade products to more than 900 clinics as an IV infusion and is launching an at-home self-injection kit later this year. It would be available to order via its website, but requires a prescription, Fried said.
“The at-home self-injection market for GLP-1 products has grown quite dramatically, and we are seeing great interest for Niagen in that market,” Fried said. The company is also in talks with major cosmetics firms about supplying its ingredient as a premium alternative to niacinamide, a widely used skincare compound.
Fried said Niagen is also targeting a partnership deal in orphan diseases within the next 18 months, where Fried said “there is a fair amount of interest,” as results from the widely anticipated NOPARK Parkinson’s trial is due for journal submission within weeks.
A Record Year, But 2026 Looks More Modest
For the full year 2025, Niagen posted net sales of $129.4 million, up 30% year-over-year, hitting the top end of its own guidance and beating Wall Street’s estimates. Net income doubled to $17.7 million from $8.6 million. The company ended the year with $64.8 million in cash and no debt.
The fourth quarter came in softer. Revenue rose 16% to $33.8 million, a slower pace than earlier in the year. Net income fell to $4.4 million from $7.2 million in the prior-year quarter, though that comparison is somewhat skewed by one-time legal settlements and royalty reversals that boosted the year-ago period. Earnings per share were 5 cents, compared to 9 cents last year.
For 2026, Niagen is guiding to $145 million in revenue, which indicates roughly 15% growth. Fried attributed the measured outlook to competitive dynamics in the supplement market. “Historically, we tend to be fairly conservative with our projections, and I don’t think that is going to change,” he added.
Why The Stock Hasn’t Caught Up
Despite consistently strong results, Niagen’s shares trade below $5, more than 60% below their 52-week high of $14.69. Analysts carry an average price target of $16.33, according to Benzinga’s ratings. Year-to-date, the stock is down about 22%.
The next meaningful catalysts for investors are likely the launch of the at-home injection product, any movement on the pharma partnership front, and the publication of the NOPARK trial results in the coming months.
Benzinga’s Edge Rankings show a moderate value score, and the stock reflects negative price trends across the short-, medium-, and long-term time frames.
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