DYADIC INTERNATIONAL INC DYAI
doing business as Dyadic Applied BioSolutions, is a global biotechnology company based in Jupiter, Florida, with operations in the United
States and a satellite office in the Netherlands. The Company develops, manufactures, and commercializes precision-engineered, animal-free
recombinant proteins and enzymes for applications in life sciences, food and nutrition, and bio-industrial markets. These products are
produced using Dyadic's proprietary microbial expression platforms, including the C1 and Dapibus™ systems, which enable scalable
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1M | $3.5M | $2.9M | $2.9M | $2.4M | $1.6M | $1.7M | $1.3M | $758.4K | — |
| Cost of revenue | $2.3M | $1.2M | $2.0M | $2.1M | $1.9M | $1.4M | $1.5M | $1.0M | $680.2K | — |
| Gross profit | $770.5K | $2.3M | $923.0K | $807.1K | $459.4K | $177.0K | $221.4K | $268.2K | $78.2K | — |
| R&D | $2.2M | $2.0M | $3.3M | $4.5M | $8.4M | $3.9M | $3.1M | $2.1M | $1.8M | — |
| SG&A | $5.8M | $6.1M | $5.8M | $6.4M | $6.7M | $6.1M | $5.5M | $4.5M | $5.0M | — |
| Total operating expenses | $10.3M | $9.4M | $11.1M | $13.1M | $17.1M | $11.6M | $11.0M | $8.9M | $7.9M | — |
| Operating income | -$7.2M | -$5.9M | -$8.2M | -$10.2M | -$14.7M | -$10.0M | -$9.3M | -$7.6M | -$7.1M | — |
| Pre-tax income | — | — | — | — | -$13.1M | -$9.3M | -$8.3M | -$4.7M | -$2.1M | — |
| Income tax | — | — | — | — | $0 | $31.3K | $10.3K | $1.0M | $66.7K | — |
| Net income | -$7.4M | -$5.8M | -$6.8M | -$9.7M | -$13.1M | -$9.3M | -$8.3M | -$5.7M | -$2.1M | — |
| EPS, basic | -0.23 | -0.20 | -0.24 | -0.34 | -0.47 | — | — | — | — | — |
| EPS, diluted | -0.23 | -0.20 | — | — | -0.47 | -0.34 | -0.31 | -0.21 | -0.07 | — |
| Shares, diluted (wtd. avg.) | $32.6M | $29.3M | $28.8M | $28.4M | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.6M | $6.5M | $6.5M | $5.8M | $15.7M | $20.6M | $4.8M | $2.4M | $5.8M | $14.3M |
| Short-term investments | $2.7M | $2.8M | — | — | — | — | — | — | — | — |
| Receivables | $1.1M | $237.0K | $466.2K | $330.0K | $277.8K | $294.2K | $558.5K | $318.7K | $271.0K | — |
| Total current assets | $9.9M | $9.8M | $8.1M | $13.4M | $21.0M | $29.8M | $35.6M | $42.7M | $49.6M | — |
| Total assets | $9.9M | $9.9M | $8.2M | $13.7M | $21.3M | $30.1M | $37.5M | $43.3M | $50.7M | — |
| Accounts payable | $852.0K | $482.3K | $656.4K | $1.3M | $1.5M | $1.0M | $943.4K | $309.1K | $520.3K | — |
| Total current liabilities | $3.7M | $2.4M | $2.3M | $2.4M | $2.6M | $1.6M | $1.6M | $849.6K | $768.9K | — |
| Total liabilities | $8.7M | $7.5M | $2.3M | $2.6M | $2.9M | $1.6M | — | — | — | — |
| Retained earnings | -$93.5M | -$86.1M | -$80.3M | -$73.5M | -$63.7M | -$50.7M | -$41.4M | -$33.0M | -$27.4M | — |
| Total equity | $1.2M | $2.5M | $5.9M | $11.1M | $18.4M | $28.4M | $35.9M | $42.5M | $50.0M | $57.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.7M | -$4.0M | -$6.7M | -$8.1M | -$11.3M | -$6.6M | -$5.8M | -$4.4M | -$1.7M | — |
| Stock-based compensation | $930.2K | $1.1M | $1.2M | $1.9M | $1.8M | $1.7M | $1.2M | $467.2K | $643.4K | — |
| Investing cash flow | $82.1K | -$1.9M | $7.4M | -$2.4M | $5.2M | $22.1M | $7.7M | $3.3M | -$812.1K | — |
| Financing cash flow | $5.0M | $5.8M | $0 | $543.6K | $1.2M | $255.5K | $550.2K | -$2.3M | -$6.2M | — |
| Buybacks | — | — | — | — | — | — | $0 | $2.3M | $6.2M | $3.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-022505.
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