Dyadic International (DYAI) AI Stock Analysis

• Market Cap: $30.66M
• Dividend Yield: N/A
• Average Volume (3M): 396.96K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.07
• Revenue Growth: -0.66%
• EPS Growth: -8.43%
• Country: US
• Employees: 6
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.06
• Shares Outstanding: 36,187,798
• 10 Day Avg. Volume: 144,364
• 30 Day Avg. Volume: 396,964
• PEG Ratio: 0.53
• Price to Book (P/B): 20.77
• Price to Sales (P/S): 14.68
• P/FCF Ratio: -12.91
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 10.90
• Enterprise Value/Gross Profit: 25.82
• Enterprise Value/Ebitda: -4.15
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $0.87 ▼(-6.34% Downside)

The score is held down primarily by weak financial performance (persistent losses, ongoing cash burn, and higher leverage) and bearish technical trends (price below major moving averages with negative MACD). Earnings-call execution milestones and supportive corporate events improve the outlook, but near-term fundamentals and funding/dilution risk remain key constraints.

Positive Factors

Strategic Partnerships

These partnerships provide financial support and enhance Dyadic's credibility and reach in the biopharmaceutical sector, supporting long-term growth.

Revenue Growth

Strong revenue growth indicates successful commercialization efforts and potential for improved financial performance, enhancing future profitability prospects.

Cash Reserves

Increased cash reserves provide a buffer against operational uncertainties and support ongoing R&D and commercialization activities.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities.

Operational Inefficiencies

Operational inefficiencies can hinder profitability and sustainability, requiring strategic adjustments to improve cost management and operational execution.

Delayed Product Commercialization

Delays in product launches can postpone revenue generation and impact investor confidence, requiring effective management to meet market expectations.

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, development, and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles and antigens, monoclonal antibodies, bi/tri-specific antibodies, fab antibody fragments, Fc-fusion proteins, biosimilars and/or biobetters, and other therapeutic enzymes and proteins. It offers DYAI-100, SARS-CoV-2-RBD antigen vaccine candidate towards a first-in-human Phase 1 clinical trial, is to validate to serve as proof of concept for the development of next generation multivariant COVID-19 vaccine candidates. The company has a research and development agreement with VTT Technical Research Centre of Finland, Ltd.; strategic research services agreement with Biotechnology Developments for Industry in Pharmaceuticals, S.L.U.; and collaboration with Syngene International Limited. Dyadic International, Inc. was founded in 1979 and is headquartered in Jupiter, Florida.

How the Company Makes Money

Dyadic International generates revenue through licensing its C1 gene expression technology to pharmaceutical and biotechnology companies. These partnerships often involve upfront payments, milestone payments, and royalties based on the commercial success of products developed using the C1 platform. The company also engages in research and development collaborations, where it provides its expertise and technology in exchange for funding. Additionally, Dyadic may generate revenue through the sale of its proprietary enzymes and other bio-based products developed using its platform.

Dyadic International Financial Statement Overview

Summary

Weak fundamentals dominate: revenue is small and volatile (TTM down ~23% YoY), operating and net results remain deeply negative, and cash flow is still negative despite some improvement in TTM cash burn. The balance sheet has positive equity, but leverage has increased materially (debt ~5.1M vs equity ~2.6M), raising financing risk.

Income Statement

Revenue remains small and volatile, with TTM (Trailing-Twelve-Months) revenue down ~23% versus the prior year, following modest growth in 2024. Profitability is the key weakness: while gross margin improved meaningfully over time and is strong in TTM, operating results remain deeply negative (EBITDA and net margins materially below zero), indicating the cost base is still far above the current revenue run-rate.

Balance Sheet

The balance sheet shows positive equity and a growing asset base into TTM, which provides some support. However, leverage has risen sharply since 2023 as total debt increased to ~5.1M while equity is ~2.6M in TTM, signaling higher financial risk and reduced flexibility. Returns on equity are strongly negative, consistent with ongoing losses.

Cash Flow

Cash generation is a clear concern: operating cash flow and free cash flow are negative across all periods, including TTM, indicating continued cash burn to fund operations. A positive point is that cash burn improved in TTM versus 2024 (free cash flow growth is strongly positive), but cash flow still does not cover the net loss and the business remains reliant on funding until operations improve.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.63M	3.50M	2.90M	2.93M	2.40M	1.60M
Gross Profit	1.11M	2.30M	922.96K	807.11K	459.39K	176.99K
EBITDA	-6.91M	-5.38M	-8.15M	-10.12M	-11.14M	-9.96M
Net Income	-7.35M	-5.81M	-6.80M	-9.74M	-13.07M	-9.33M
Balance Sheet
Total Assets	11.67M	9.93M	8.22M	13.71M	21.30M	30.07M
Cash, Cash Equivalents and Short-Term Investments	10.25M	9.26M	7.26M	12.64M	20.26M	29.09M
Total Debt	5.06M	5.07M	136.93K	0.00	0.00	0.00
Total Liabilities	9.07M	7.46M	2.34M	2.63M	2.91M	1.63M
Stockholders Equity	2.61M	2.47M	5.88M	11.09M	18.39M	28.45M
Cash Flow
Free Cash Flow	-4.63M	-3.97M	-6.73M	-8.08M	-11.28M	-6.57M
Operating Cash Flow	-4.63M	-3.97M	-6.73M	-8.08M	-11.28M	-6.57M
Investing Cash Flow	877.20K	-1.88M	7.45M	-2.37M	5.22M	22.12M
Financing Cash Flow	4.99M	5.85M	0.00	543.59K	1.23M	255.47K

Dyadic International Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 0.89, above the 50-day MA of 0.92, and below the 200-day MA of 1.00, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.72 is Neutral, neither overbought nor oversold. The STOCH value of 24.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DYAI.

Dyadic International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CLGN	48 Neutral	$20.47M	-0.73	-92.74%	―	280.77%	32.82%
DYAI	46 Neutral	$30.66M	-3.59	-244.15%	―	-0.66%	-8.43%
RVPH	41 Neutral	$32.00M	-0.56	―	―	―	58.55%
RANI	41 Neutral	$144.61M	-1.39	―	―	―	25.08%
GBIO	39 Underperform	$37.87M	-0.61	-80.81%	―	-17.82%	57.32%

Dyadic International Corporate Events

Dyadic International Amends Convertible Notes, Extends Maturity Timeline

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 in an event of default, the holders’ option to require the company to redeem all or part of the remaining principal. The changes effectively provide Dyadic with extended time to repay or convert the notes, potentially ease near-term liquidity pressure, and shift more of the capital structure toward equity conversion rather than cash redemption, which may affect both existing shareholders and noteholders by altering dilution prospects and repayment dynamics.

The most recent analyst rating on (DYAI) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Dyadic International stock, see the DYAI Stock Forecast page.