Dyadic International Inc
dyadic.comWhat Do They Do?
Develops and commercializes animal-free recombinant proteins and enzymes for life-sciences, food and nutrition, and bio-industrial customers.
10-K for FY2025, filed Mar 25, 2026Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”), doing business as Dyadic Applied BioSolutions, is a global…View ↗
Recognizing the longer development timelines and regulatory requirements associated with pharmaceutical products, Dyadic has expanded its…View ↗
To accelerate commercialization across its core sectors, Dyadic developed the Dapibus™ platform—a proprietary expression system designed to…View ↗
How Do They Make Money?
Grant funding from governments, agencies, and private and nonprofit organizations supports research collaborations. Partners also fund research and development work; collaboration revenue can relate to work completed or progress on the work, while technology licenses can bring upfront and milestone payments and royalties when related sales occur.
10-K for FY2025, filed Mar 25, 2026Revenue related to grants: The Company receives grants from governments, agencies, and other private and not-for-profit organizations.…View ↗
Revenue related to research collaborations and agreements: The Company typically performs research and development services as specified in…View ↗
Revenue related to sublicensing agreements: If the sublicense to the Company’s intellectual property is determined to be distinct from the…View ↗
Milestone payments: At the inception of each arrangement that includes development, commercialization, and regulatory milestone payments…View ↗
Royalties: With respect to licenses deemed to be the predominant item to which the sales-based royalties relate, including milestone…View ↗
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10-K for FY2025, filed Mar 25, 2026
FY2025 revenue by product or service ↗
$3.1M
-
10-K for FY2025, filed Mar 25, 2026
$3.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Research and Development
Mix
10-K for FY2025, filed Mar 25, 2026 |
31%
FY2022: 92%
|
Research and Development, FY2025
$967.3K Sources
|
Mix |
|
Grant
|
60% |
Grant, FY2025
$1.9M Sources
|
|
|
License
Licensed
|
8.6%
FY2022: 8.4%
|
License, FY2025
$265K Sources
|
Licensed |
Who Are Their Customers?
Researchers and life-sciences buyers can purchase directly or through distribution partners; biotech and other commercial partners collaborate on product development and sales.
10-K for FY2025, filed Mar 25, 2026Dyadic’s commercialization strategy includes direct product sales, distribution partnerships, manufacturing collaborations, and technology…View ↗
Dyadic is developing and commercializing a portfolio of recombinant proteins and enzymes for life sciences applications, including cell…View ↗
Recombinant Serum Albumin: In partnership with Proliant Health and Biologicals, Dyadic supported development of AlbuFree™ DX, a recombinant…View ↗
Do Revenues Turn Into Profits?
No. It lost $7.4M in FY2025.
10-K for FY2025, filed Mar 25, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 12, 2026
−$2.1MView ↗
- ▲ +18% (Loss)
- vs −$1.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 12, 2026
Open tableView ↗
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Jul 24, 2026
Dyadic regained Nasdaq listing compliance
Nasdaq confirmed the company regained compliance with listing rules, and its shares continue trading on the Nasdaq Capital Market.
Sources
8-K, filed Jul 24, 2026
On July 24, 2026, Dyadic International, Inc. (the “Company”) issued a press release announcing that the Nasdaq Stock Market LLC (“Nasdaq”)…View ↗
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Jun 18, 2026
Nasdaq began delisting proceedings over listing deficiencies
Nasdaq cited failures to meet the minimum bid-price and continued-listing standards.
Sources
8-K, filed Jun 18, 2026
On June 18, 2026, Dyadic International, Inc. (the “Company” or “Dyadic”) received a notification (the “Notification”) from The Nasdaq Stock…View ↗
Growing. Revenue grew 29% in 4 years, from $2.4M in FY2021 to $3.1M in FY2025, about 6% a year.
From platform development to product commercialization
The older report centers on building microbial platforms for biopharmaceutical applications and other protein production. The latest report emphasizes commercializing recombinant proteins and enzymes for life sciences, food and nutrition, and industrial markets, while continuing funded biopharmaceutical collaborations.
10-K for FY2022, filed Mar 29, 2023 10-K for FY2025, filed Mar 25, 2026After the DuPont Transaction, the Company has been focused on building innovative microbial platforms to address the growing demand for…View ↗
The C1-cell protein production platform is a robust and versatile thermophilic filamentous fungal expression system for the development and…View ↗
The Company also developed the Dapibus™ thermophilic filamentous fungal based microbial protein production platform to enable the rapid…View ↗
Recognizing the longer development timelines and regulatory requirements associated with pharmaceutical products, Dyadic has expanded its…View ↗
Given the reduced development timelines and regulatory requirements associated with many non-pharmaceutical applications, we believe these…View ↗
Dyadic advances selected biopharmaceutical programs through fully funded collaborations with global health organizations, government…View ↗
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