Q3 2024 ChromaDex Corp Earnings Call
To changes in its expectations. In addition, certain financial information presented in this call references non-GAAP financial measures. The company's earnings presentation and earnings press release, which were issued this afternoon and are available on the Companys website present reconciliations Tuesday approach.
GAAP measures. Finally this conference call is being recorded via webcast. The webcast will be available at the Investor Relations section of our website at www Dot chroma decks dot com.
Speaker Change: Now, it's my pleasure to turn the call over to our Chief Executive Officer, Rob Fried.
Rob Fried: Thank you Ben.
Rob Fried: Good afternoon, everyone. Thank you for joining today's investor call.
Speaker Change: I am quite pleased to share that in the third quarter, we achieved record results on both our top line.
And our bottom line.
Speaker Change: With $25 $6 million in revenue, a 31% increase year over year.
And net income of $1.9 million.
Speaker Change: This quarter also marks our sixth consecutive quarter of positive adjusted EBITDA, reaching $2 $9 million.
Speaker Change: And we generated total positive cash flow of $5 1 million.
Speaker Change: We ended the quarter with $32 $4 million in cash and <unk>.
Speaker Change: No debt.
Speaker Change: This quarter's financial results highlight our unyielding dedication to maintaining fiscal discipline and achieving profitable growth.
Speaker Change: While still advancing our key business initiatives.
Speaker Change: The record sales this quarter were driven primarily by growth in our E Commerce business.
Speaker Change: As well as the <unk> ingredient business, which included this quarter initial sales of our pharmaceutical grade nitrogen to selected clinics, they viewing nitrogen plus or nitrogen IV.
Speaker Change: At $14 8 million for the third quarter.
Speaker Change: And representing a 16% growth year over year.
Speaker Change: E Commerce continues to be a cornerstone of our total business.
Speaker Change: In contrast, with the second quarter were e-commerce growth was stable year over year, the third quarter reflected stronger trends on Amazon as well as our own website.
Speaker Change: On Amazon, we saw sustained growth following prime day in July.
Speaker Change: This growth was fueled by refreshed marketing efforts to reinforce <unk> position as the top NAD boosting supplement.
Speaker Change: Additionally, we were encouraged to see that Amazon has taken steps to address the emergence of brands that are offered and promoted and boosting products that did not live up to their claims to say the least.
Speaker Change: And our own website, we are seeing improvements from our marketing efforts to better drive brand awareness effectively through PR.
Speaker Change: As well as Influencer marketing to <unk>.
Speaker Change: Better engaged with customers through refreshed social media content and to improve conversion through competitive messaging and performance marketing.
Speaker Change: More recently, our team has completed a migration to an updated web platform along with the redesign of our own website.
Speaker Change: Refresh take on educating the consumer of the company's commitment to product excellence as well as the company's 25 years of innovation and scientific advancements in Nab research.