Dyadic International (DYAI) Q3 2025 earnings summary

Executive summary

• Transitioned from R&D to a commercially focused biotech, rebranding as Dyadic Applied BioSolutions and launching a new website to enhance commercial and investor engagement in August 2025.

• Expanded product portfolio in life sciences, food nutrition, and bio-industrial segments, with new partnerships and global market reach initiatives, including Asia.

• Integrated CRISPR-Cas9 gene editing via ERS Genomics license to accelerate strain optimization and product development.

• Achieved key milestones in food, nutrition, and legacy collaborations, including Gates Foundation and CEPI grants.

• Secured first commercial bulk sale and purchase orders for Dyadic-produced proteins in Q4 2025.

Financial highlights

• Q3 2025 total revenue was $1.17M, down from $1.97M–$1.96M year-over-year, mainly due to lower license and milestone revenue.

• Total revenue for the nine months ended September 30, 2025, was $2.52M, down from $2.68M year-over-year.

• Net loss for Q3 2025 rose to $1.98M ($0.06/share) from $0.20M ($0.01/share) year-over-year; nine-month net loss was $5.80M, up from $4.26M.

• Cash, cash equivalents, and investment-grade securities totaled $10.4M as of September 30, 2025, up from $9.3M at year-end 2024.

• Closed public offering in August 2025, raising $4.9M net proceeds for working capital and product development.

Outlook and guidance

• Expecting growth in product revenue in life sciences and food nutrition for the remainder of 2025, with additional product launches and commercial expansion in 2026.

• Anticipates commercial launch of animal-free serum albumin in late 2025 or early 2026, and scale-up of non-animal dairy enzymes.

• Operating expenses projected to remain in line with prior year; ongoing losses and negative cash flows anticipated as commercialization continues.

• Existing liquidity of $10.4M expected to cover operational needs for at least the next 12 months; additional capital may be sought if needed.