Chromadex Corporation Reports Second Quarter FY2023 Financial Results on June 30th 2023
August 16, 2023
🌥️Earnings Overview
Chromadex Corporation ($NASDAQ:CDXC) reported their financial results for the second quarter of fiscal year 2023 on June 30, 2023. Their total revenue saw a 21.5% increase year-over-year, coming in at USD 20.3 million, but their net income decreased from -6.4 million to -2.2 million.
Stock Price
The stock opened at $1.6 and closed at $1.6, slightly lower than the previous day’s closing price of $1.7. After the release of the financial results, the company’s management highlighted the positive developments that helped drive its strong performance in the quarter. These developments included a successful launch of several new products and strong partnerships with leading retailers. Chromadex Corporation also reported a favorable financial position, with a healthy cash flow and a positive free cash flow on increased sales and reduced expenses.
Overall, investors have reacted favorably to the strong financial results reported by Chromadex Corporation. While the stock price has dropped slightly, analysts are optimistic about the company’s future prospects and expect the stock to recover soon. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chromadex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 80.94 | -6.5 | -8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chromadex Corporation. More…
| Operations | Investing | Financing |
| 2 | -0.32 | 7.65 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chromadex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 53.17 | 26.02 | 0.36 |
Key Ratios Snapshot
Some of the financial key ratios for Chromadex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.9% | – | -10.9% |
| FCF Margin | ROE | ROA |
| 2.1% | -19.9% | -10.3% |
Analysis
As part of GoodWhale’s analysis of CHROMADEX CORPORATION, we have looked at their Star Chart to determine their category. This company is classified as a ‘cheetah,’ which means they have achieved high revenue or earnings growth but are considered less stable due to lower profitability. Given these metrics, it is likely that investors who are looking for higher-risk, higher-reward options may be interested in CHROMADEX CORPORATION. They have an intermediate health score of 4/10 considering their cashflows and debt, which suggests that they might be able to sustain future operations in times of crisis. Specifically, CHROMADEX CORPORATION is strong in asset, growth, and weak in dividend, profitability. They have medium-high revenue growth, above average asset turnover, and above average financial leverage. However, their profitability is low, indicating that they are not generating much in the way of profits. More…
Peers
In recent years, the market for natural ingredients and supplements has exploded. This has led to intense competition between companies like ChromaDex Corp and its rivals Xeno Transplants Corp, Abcam PLC, and Kidswell Bio Corp. Each company is vying for a piece of the pie, and each has its own unique selling points.
– Xeno Transplants Corp ($OTCPK:XENO)
Xeno Transplants Corp is a company that specializes in transplants using xenotransplantation, which is the transplantation of living cells, tissues, or organs from one species to another. As of 2022, the company has a market cap of 64.58k.
– Abcam PLC ($LSE:ABC)
Abcam PLC is a biotechnology company that develops, manufactures, and sells antibodies and related protein products. The company has a market cap of 3.27B as of 2022 and a return on equity of 2.69%. Abcam’s products are used in scientific research, including drug discovery and development, and in commercial applications such as diagnostics. The company’s products are sold to customers in over 100 countries.
– Kidswell Bio Corp ($TSE:4584)
Kidswell Bio Corp is a pharmaceutical company that focuses on the development and commercialization of drugs for the treatment of rare pediatric diseases. The company has a market cap of 9.18B as of 2022 and a Return on Equity of -10.61%. The company’s products include treatments for rare genetic disorders, cancer, and infectious diseases.
Summary
The investing analysis of CHROMADEX CORPORATION in its second quarter of FY2023 reveals positive revenue growth of 21.5%.
However, net income decreased from -6.4 million to -2.2 million. This marks a slight decline, but it is still an improvement from the prior year. Investors need to be mindful of CHROMADEX CORPORATION’s current profitability and its potential to grow in the near future. Analysts will need to weigh current financials and the company’s strategic plans to determine whether it has potential for long-term returns.
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