Synthesizes the second messengers cyclic ADP-ribose and nicotinate-adenine dinucleotide phosphate, the former a second messenger for calcium mobilization from endoplasmic reticulum. Also has cADPr hydrolase activity. H2O + NAD(+) = ADP-D-ribose + H(+) + nicotinamide NADP(+) + nicotinate = nicotinamide + nicotinate-adenine dinucleotide phosphate Activity is presumably regulated by its sequestration in vesicles before egg fertilization. After fertilization and upon NADase release, it could then be regulated via its potential phosphorylation sites. Localized to vesicles or granules within ova of all stages. Ovotestis. Belongs to the ADP-ribosyl cyclase family.