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We expect investors to focus on the sales performance of ChromaDex Corp.'s CDXC marketed product, Niagen, and updates on the pipeline when it reports third-quarter 2024 results on Oct. 31, after market close.
The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $23.70 million, while the same for earnings is pinned at 1 cent per share.
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Let's see how things might have shaped up for the quarter to be reported.
Factors to Note Ahead of CDXC's Upcoming Results
ChromaDex currently markets Niagen as the most efficient and superior-quality NAD+ booster, which is available in several countries, including the United States. CDXC delivers Niagen as the sole active ingredient in its dietary supplement consumer product, Tru Niagen.
Revenues in the last reported quarter increased year over year, driven by higher TRU Niagen sales with steady e-commerce performance, a trend most likely to have continued in the to-be-reported quarter.
Earlier this year, the FDA granted Orphan Drug Designation (ODD) and Rare Pediatric Disease (RPD) Designation to CDXC’s investigational candidate, nicotinamide riboside chloride (NRC) to treat ataxia telangiectasia (AT). AT is a rare and progressive neurodegenerative disease that causes severe disability (premature aging).
Updates on the planned investigational new drug (IND) application for NRC are expected on the third-quarter earnings call. Subject to IND clearance by the FDA, ChromaDex will begin evaluating the candidate in human clinical studies.
The strong performance of the global e-commerce business, new and existing partnerships and the launch of new products are expected to have driven sales in the to-be-reported quarter.
Operating expenses are likely to have declined in the third quarter.
Shares of ChromaDex have skyrocketed 156.6% so far this year against the industry’s decrease of 3.9%.
Image Source: Zacks Investment Research
CDXC's Earnings Surprise History
ChromaDex has an excellent earnings surprise history. The company’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 83.34%. In the last reported quarter, CDXC’s earnings beat estimates by 100.00%.
ChromaDex Corporation Price and EPS Surprise
ChromaDex Corporation price-eps-surprise | ChromaDex Corporation Quote
Earnings Whispers for CDXC Stock
Our proven model does not conclusively predict an earnings beat for ChromaDex this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.