Dyadic International (DYAI)
NASDAQ:DYAI
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Dyadic International
(NASDAQ:DYAI)
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Rating:47Neutral
Price Target:
$0.70
▼(-24.84% Downside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial fundamentals (persistent losses, negative equity, and ongoing cash burn) and bearish technicals (below major moving averages with negative MACD). The earnings call provides a partial offset via strong YoY revenue growth, commercialization progress, and runway guidance, while valuation signals are limited due to negative earnings and no dividend.
Positive Factors
Platform clinical validation
Completed Phase I human and nonhuman primate monoclonal antibody studies materially reduce technical and clinical execution risk for the C1 platform. This validation supports partner confidence, eases regulatory conversations, and increases likelihood of licensing, milestones and royalty streams over the next 2–6 months and beyond.
Negative Factors
Deteriorated balance sheet
Negative equity and rising debt materially weaken financial flexibility and increase refinancing risk. Over 2–6 months this constrains the firm's ability to fund operations or pursue opportunities without dilutive financing or costly debt, elevating execution risk if commercial receipts lag projections.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform clinical validation
Completed Phase I human and nonhuman primate monoclonal antibody studies materially reduce technical and clinical execution risk for the C1 platform. This validation supports partner confidence, eases regulatory conversations, and increases likelihood of licensing, milestones and royalty streams over the next 2–6 months and beyond.
Read all positive factors
Dyadic International (DYAI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$26.88M
Dividend YieldN/A
Average Volume (3M)396.96K
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue Growth7.13%
EPS Growth-8.85%
CountryUS
Employees6
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.21
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)24.89
P/FCF Ratio-5.38
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue9.03
Enterprise Value/Gross Profit28.89
Enterprise Value/Ebitda-3.87
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.1
Revenue Forecast (FY)$6.77M
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 seeks to generate revenue by licensing its C1 expression system and related intellectual property to third parties that develop and commercialize biologic products. Under these arrangements, the company can earn upfront license fe...
Dyadic International Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call communicated clear operational and commercial progress: strong YoY revenue growth (182%), multiple product launches and shipments, expanded distribution and partner-funded biopharma validation (Gates and CEPI grants), and platform de-risking via Phase I and preclinical data. At the same time, the company remains early-stage with modest absolute revenues, rising cost of revenue (+~166%) and increased G&A (+10%), continued net losses, dependence on partner execution, and a cash runway that, while adequate into Q2 2027, may require future financing if product revenues do not scale. Overall, the tone is constructive and progress-focused but still highlights execution and scale risks typical of a company transitioning toward commercialization.Positive Updates
Strong Revenue Growth
Total revenue for Q1 2026 was approximately $1.1M, a 182% increase versus ~$394K in Q1 2025, driven by higher R&D revenue (~$220K from the Proliant Agreement), grant revenues (~$277K from CEPI and Gates-supported programs) and milestone revenue (~$200K under the Inzymes Agreement).
Negative Updates
Rising Cost of Revenue
Total cost of revenue increased to approximately $792K in Q1 2026 from ~$298K in Q1 2025, an increase of ~166%, primarily due to higher activity associated with R&D and grant-funded programs (CEPI and Gates initiatives).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue for Q1 2026 was approximately $1.1M, a 182% increase versus ~$394K in Q1 2025, driven by higher R&D revenue (~$220K from the Proliant Agreement), grant revenues (~$277K from CEPI and Gates-supported programs) and milestone revenue (~$200K under the Inzymes Agreement).
Read all positive updates
Company Guidance
The company provided quantitative near‑term guidance and context: Q1 2026 revenue was ~$1.1M (up 182% vs. ~$394k in Q1 2025) driven by R&D revenue of ~$220k, grant revenue of ~$277k and $200k of milestone revenue; cost of revenue was ~$792k (vs. ~$298k prior year), internal R&D was ~$476k (down ~4% YoY), G&A rose ~$159k (to ~$1.8M, +10%), loss from operations improved to ~ $1.9M (≈5% better YoY) and net loss was ~$1.95M or $0.05/share (vs. ~$2.03M or $0.07/share). They reported cash and equivalents of ~$6.6M, said 2026 cash burn should be similar to or less than 2025’s < $5.7M, giving runway into Q2 2027, and reiterated expectations for product revenue growth in the remainder of 2026 (including IBT‑distributed DNase‑1 and transferrin shipments and anticipated initial bioindustrial royalties in 2026) while keeping operating expenses generally in line with 2025.Dyadic International Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
19
Very Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.97M | 1.23M | 3.50M | 2.90M | 2.93M | 2.40M |
| Gross Profit | 929.95K | -1.09M | 2.30M | 922.96K | 807.11K | 459.39K |
| EBITDA | -6.94M | -6.91M | -5.38M | -8.15M | -10.12M | -11.14M |
| Net Income | -7.29M | -7.36M | -5.81M | -6.80M | -9.74M | -13.07M |
Balance Sheet | ||||||
| Total Assets | 7.81M | 9.95M | 9.93M | 8.22M | 13.71M | 21.30M |
| Cash, Cash Equivalents and Short-Term Investments | 6.52M | 7.32M | 9.26M | 7.26M | 12.64M | 20.26M |
| Total Debt | 5.05M | 5.06M | 5.07M | 136.93K | 0.00 | 0.00 |
| Total Liabilities | 8.22M | 8.71M | 7.46M | 2.34M | 2.63M | 2.91M |
| Stockholders Equity | -407.73K | 1.23M | 2.47M | 5.88M | 11.09M | 18.39M |
Cash Flow | ||||||
| Free Cash Flow | -5.72M | -5.70M | -3.97M | -6.73M | -8.08M | -11.28M |
| Operating Cash Flow | -5.72M | -5.70M | -3.97M | -6.73M | -8.08M | -11.28M |
| Investing Cash Flow | 866.18K | 82.08K | -1.88M | 7.45M | -2.37M | 5.22M |
| Financing Cash Flow | 4.94M | 4.96M | 5.85M | 0.00 | 543.59K | 1.23M |
Dyadic International Technical Analysis
Negative
0.93
Price Trends
0.80
Negative
0.83
Negative
0.91
Negative
Market Momentum
-0.03
Negative
44.70
Neutral
52.94
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 0.75, above the 50-day MA of 0.80, and above the 200-day MA of 0.91, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 44.70 is Neutral, neither overbought nor oversold. The STOCH value of 52.94 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 47 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% | |
50 Neutral | $134.92M | ― | -245.45% | ― | 164.08% | 58.49% | |
47 Neutral | $26.88M | -3.82 | -695.82% | ― | 7.13% | -8.85% | |
42 Neutral | $6.49M | -1.40 | -92.74% | ― | 360.39% | 35.61% | |
40 Underperform | $5.01M | -0.40 | ― | ― | ― | 71.01% |
* Healthcare Sector Average
DYAI
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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...
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.