Dyadic International (DYAI)
NASDAQ:DYAI
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Dyadic International
(NASDAQ:DYAI)
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Rating:44Neutral
Price Target:
$0.68
▼(-26.88% Downside)
Action:ReiteratedDate:03/27/26
The score is held down mainly by weak financial performance (ongoing losses, negative cash flow, and higher leverage). Technicals also reflect a downtrend with bearish momentum. Partially offsetting these are a more encouraging earnings-call outlook (commercial launches/partnerships and runway guidance) and a financing event that eases near-term repayment pressure, though dilution risk remains.
Positive Factors
Platform validation via collaborations
External validation by Gates, CEPI, NIAID, Scripps, Oxford and multiple academic partners materially reduces technical and adoption risk. Durable third-party proof points make licensing and partnership discussions easier, supporting sustained platform licensing, milestone and royalty revenue over quarters as partners progress.
Negative Factors
Sharply increased leverage
Rapidly rising debt relative to a shrinking equity base materially weakens the balance sheet. High leverage limits financial flexibility, raises refinancing and covenant risk, and increases the likelihood that future capital raises will dilute shareholders or prioritize debt servicing over growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform validation via collaborations
External validation by Gates, CEPI, NIAID, Scripps, Oxford and multiple academic partners materially reduces technical and adoption risk. Durable third-party proof points make licensing and partnership discussions easier, supporting sustained platform licensing, milestone and royalty revenue over quarters as partners progress.
Read all positive factors
Dyadic International (DYAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.73M
Dividend YieldN/A
Average Volume (3M)396.96K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth-0.66%
EPS Growth-8.43%
CountryUS
Employees6
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.04
Shares Outstanding36,438,700
10 Day Avg. Volume144,364
30 Day Avg. Volume396,964
Financial Highlights & Ratios
PEG Ratio-0.28
Price to Book (P/B)24.88
Price to Sales (P/S)9.92
P/FCF Ratio-5.38
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue8.81
Enterprise Value/Gross Profit10.94
Enterprise Value/Ebitda-3.81
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.11
Revenue Forecast (FY)$7.40M
Dyadic International Business Overview & Revenue Model
Company Description
Dyadic International, Inc., a biotechnology platform company, develops, produces, and sells enzymes and other proteins in the United States. The company utilizes its patented and proprietary C1 platform and other technologies to conduct research, ...
How the Company Makes Money
Dyadic primarily makes money by licensing its C1 expression system and related intellectual property to third parties that use the platform to develop and manufacture biologic products. Revenue is generated through (1) upfront license or access fe...
Dyadic International Earnings Call Summary
Earnings Call Date:Mar 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful operational progress: multiple product launches, distribution and manufacturing partnerships, grant funding, and platform validation through reputable collaborators, signaling a substantive transition toward commercialization. However, near-term financials show declining revenue (-11.7%) and larger losses (+~26.7% net loss increase), with continued cash burn and dependence on partner/grant-driven revenue. Management presents a credible path to scale and a runway into 2027 but acknowledges a measured, gradual revenue ramp as customers qualify products; the strategic progress and non-dilutive funding moderately outweigh short-term financial headwinds.Positive Updates
Commercial Product Launches and Expanded Partnerships
Multiple products moved into commercialization: recombinant human albumin (ProLyte) commercially launched in early 2026 via a profit-sharing partnership with ProLiant; recombinant RNase-free DNase I launched with Fermox under expanded partnership; first sales of fibroblast growth factor (FGF) in 2025; OEM distribution agreement with IVT BioServices to accelerate global sales and market penetration.
Negative Updates
Decline in Total Revenue
Total revenue fell to $3,090,000 in 2025 from $3,500,000 in 2024, a decrease of $410,000 or approximately -11.7%, driven primarily by lower R&D collaboration activity and reduced license and milestone revenue despite higher grant income.
Read all updates
Q4-2025 Updates
Positive
Negative
Commercial Product Launches and Expanded Partnerships
Multiple products moved into commercialization: recombinant human albumin (ProLyte) commercially launched in early 2026 via a profit-sharing partnership with ProLiant; recombinant RNase-free DNase I launched with Fermox under expanded partnership; first sales of fibroblast growth factor (FGF) in 2025; OEM distribution agreement with IVT BioServices to accelerate global sales and market penetration.
Read all positive updates
Company Guidance
Management's guidance emphasized disciplined cash use and near-term commercialization: for FY2025 they reported $3.09M revenue (down from $3.50M), cost of R&D revenue $600K (vs $1.2M), grant-related costs $1.72M, internal R&D $2.16M, G&A $5.76M, loss from operations $7.19M, net loss $7.36M (‑$0.23/share), about $8.6M in cash and equivalents, and ~$5.7M net cash used in operations; they have received ~$2.4M of a $3.1M Gates grant to date. Looking ahead they expect product revenue growth (life sciences, food & nutrition) from recent launches (recombinant albumin commercialized early 2026, DNase I and FGF sales begun, chymosin targeting 2026), operating expenses generally in line with 2025, a cash runway into 2027 under the current plan, optional access to an ATM for opportunistic financing, and increasing repeat orders and recurring revenue through 2026 and beyond.Dyadic International Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
24
Negative
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.09M | 3.50M | 2.90M | 2.93M | 2.40M |
| Gross Profit | 2.49M | 2.30M | 922.96K | 807.11K | 459.39K |
| EBITDA | -7.15M | -5.38M | -8.15M | -10.12M | -11.14M |
| Net Income | -7.36M | -5.81M | -6.80M | -9.74M | -13.07M |
Balance Sheet | |||||
| Total Assets | 9.95M | 9.93M | 8.22M | 13.71M | 21.30M |
| Cash, Cash Equivalents and Short-Term Investments | 7.32M | 9.26M | 7.26M | 12.64M | 20.26M |
| Total Debt | 7.12M | 5.07M | 136.93K | 0.00 | 0.00 |
| Total Liabilities | 8.71M | 7.46M | 2.34M | 2.63M | 2.91M |
| Stockholders Equity | 1.23M | 2.47M | 5.88M | 11.09M | 18.39M |
Cash Flow | |||||
| Free Cash Flow | -5.70M | -3.97M | -6.73M | -8.08M | -11.28M |
| Operating Cash Flow | -5.70M | -3.97M | -6.73M | -8.08M | -11.28M |
| Investing Cash Flow | 82.08K | -1.88M | 7.45M | -2.37M | 5.22M |
| Financing Cash Flow | 4.96M | 5.85M | 0.00 | 543.59K | 1.23M |
Dyadic International Technical Analysis
Negative
0.93
Price Trends
0.83
Negative
0.88
Negative
0.95
Negative
Market Momentum
-0.01
Positive
38.32
Neutral
21.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DYAI, the sentiment is Negative. The current price of 0.93 is above the 20-day moving average (MA) of 0.80, above the 50-day MA of 0.83, and below the 200-day MA of 0.95, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 38.32 is Neutral, neither overbought nor oversold. The STOCH value of 21.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DYAI.
Dyadic International Risk Analysis
Dyadic International disclosed 41 risk factors in its most recent earnings report. Dyadic International reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Dyadic International Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $24.73M | -4.16 | -695.82% | ― | -0.66% | -8.43% | |
44 Neutral | $8.98M | -1.49 | -92.74% | ― | 280.77% | 32.82% | |
44 Neutral | $100.26M | -3.01 | -718.54% | ― | ― | 25.08% | |
41 Neutral | $9.44M | -1.67 | ― | ― | ― | 58.55% |
* Healthcare Sector Average
DYAI
Dyadic International
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Dyadic International Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Dyadic International Establishes At-the-Market Equity Offering Program
Neutral
Mar 6, 2026
On March 6, 2026, Dyadic International, Inc. entered into an at-the-market issuance sales agreement with Craig-Hallum Capital Group LLC, allowing the company to sell up to $4,237,818 of its common stock from time to time through the sales agent un...
Business Operations and StrategyPrivate Placements and Financing
Dyadic International Amends Convertible Notes, Extends Maturity Timeline
Positive
Dec 29, 2025
On December 23, 2025, Dyadic International, Inc. amended its Senior Secured Convertible Promissory Notes due March 8, 2027, extending their maturity date to December 31, 2027, changing the conversion price to $1.05 per share, and removing, except ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.