Dyadic International, Inc. (DYAI) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DYAI SEC filings page.
Dyadic International, Inc. (DYAI) reported $3.8M in revenue over the twelve months to Jun 30, 2026, down 8.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Dyadic remains a loss-making research-led business whose financing increasingly supports operations as margins and equity weaken.
The 2024 gross-margin surge to65.8% was not durable: FY2025 margin fell to24.9% . At the same time, operating loss widened to$7.2M and operating cash outflow reached$5.7M , showing that gross-profit improvement has not yet translated into a self-funding operating model.
Liabilities reached
FY2025 financing cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Dyadic International, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Dyadic International, Inc. held $7.3M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $5.7M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Dyadic International, Inc. scores 40/100 among other emerging companies.
Dyadic International, Inc. had 36M shares outstanding at the end of fiscal year 2025, against 30M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Dyadic International, Inc. scores 45/100 among other emerging companies.
Dyadic International, Inc. spent $2.2M on research and development in fiscal year 2025, which was 21.0% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Dyadic International, Inc. scores 52/100 among other emerging companies.
Dyadic International, Inc. reported revenue of $3.1M in fiscal year 2025, against $3.5M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Dyadic International, Inc. scores 47/100 among other emerging companies.
Dyadic International, Inc.'s operations used $5.7M of cash in fiscal year 2025, against $4.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Dyadic International, Inc. scores 54/100 among other emerging companies.
Dyadic International, Inc.'s cash, cash equivalents and investments came to $7.3M at the end of fiscal year 2025, against $8.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Dyadic International, Inc. scores 55/100 among other emerging companies.
Dyadic International, Inc. scores -13.22, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($18.3M) relative to total liabilities ($8.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Dyadic International, Inc. passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Dyadic International, Inc. reported a net loss of $7.4M while operations used $5.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Dyadic International, Inc. generated $961K in revenue in Q2 2026. This represents a decrease of 0.6% from the same quarter a year earlier. Against the prior quarter it is down 13.5%.
Dyadic International, Inc. reported -$2.1M in net income in Q2 2026. This represents a decrease of 18.4% from the same quarter a year earlier. Against the prior quarter it is down 8.7%.
Dyadic International, Inc. earned -$0.06 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 20.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Dyadic International, Inc. held $1.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Dyadic International, Inc.'s gross margin was -2.4% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 38.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.1 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Dyadic International, Inc. invested $333K in research and development in Q2 2026. This represents a decrease of 47.2% from the same quarter a year earlier. Against the prior quarter it is down 30.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
DYAI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $961K-0.6% | $1.1M+182.3% | $566K-30.8% | $1.2M-40.5% | $967K+150.5% | $394K+17.6% | $817K+19.1% | $2.0M+393.0% |
| Cost of Revenue | $984K+60.4% | $792K+166.0% | $385K+9.0% | $1.0M+158.7% | $614K+103.2% | $298K+106.8% | $353K+0.8% | $396K+273.9% |
| Gross Profit | -$23K-106.5% | $319K+232.7% | $181K-61.1% | $141K-91.0% | $353K+320.6% | $96K-49.7% | $465K+38.1% | $1.6M+436.3% |
| R&D Expenses | $333K-47.2% | $476K-3.8% | $458K-16.0% | $572K+24.3% | $629K+22.1% | $495K-5.3% | $546K-36.0% | $460K-35.8% |
| SG&A Expenses | $1.7M+17.6% | $1.8M+10.0% | $1.2M-13.4% | $1.5M+14.1% | $1.4M-10.6% | $1.6M-10.7% | $1.4M-12.8% | $1.3M+1.2% |
| Operating Income | -$2.1M-18.8% | -$1.9M+5.0% | -$1.5M-0.4% | -$1.9M-850.3% | -$1.7M+15.3% | -$2.0M+5.8% | -$1.5M+29.4% | -$203K+88.2% |
| Income Tax | N/A | $0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.1M-18.4% | -$2.0M+3.6% | -$1.6M-1.1% | -$2.0M-871.2% | -$1.8M+12.3% | -$2.0M-0.9% | -$1.6M+25.1% | -$203K+87.4% |
| EPS (Basic) | -$0.060.0% | -$0.05+28.6% | -$0.06-20.0% | -$0.06-500.0% | -$0.06+14.3% | -$0.070.0% | -$0.05+37.5% | -$0.01+83.3% |
| EPS (Diluted) | -$0.060.0% | -$0.05+28.6% | -$0.06-20.0% | -$0.06 | -$0.06+14.3% | -$0.07 | -$0.05 | -$0.01 |
| Diluted Shares (Avg) | 36M+21.0% | 36M+21.8% | N/A | 35M | 30M+2.8% | 30M | N/A | 30M |
Not reported in any period shown, so not listed: EBITDA, Interest Expense.
DYAI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.5M-19.7% | $7.8M-1.1% | $9.9M+0.2% | $11.7M+8.0% | $8.1M-23.4% | $7.9M-37.7% | $9.9M+20.8% | $10.8M+16.7% |
| Current Assets | $6.4M-13.5% | $7.7M-1.3% | $9.9M+0.7% | $11.5M+8.0% | $7.4M-29.5% | $7.8M-37.8% | $9.8M+21.8% | $10.7M+17.6% |
| Cash & Equivalents | $1.4M-33.4% | $4.2M-16.1% | $4.6M-29.0% | $5.8M-1.5% | $2.1M-65.1% | $5.1M-52.1% | $6.5M-0.1% | $5.9M-20.0% |
| Short-Term Investments | $1.7M-40.6% | $1.4M-41.0% | $2.7M-2.1% | $3.1M-22.5% | $2.8M-28.3% | $2.3M+57.2% | $2.8M+268.4% | $4.0M+417.7% |
| Accounts Receivable | $1.3M+82.1% | $996K+349.4% | $1.1M+360.0% | $917K+159.7% | $715K+186.3% | $222K-9.9% | $237K-49.2% | $353K-15.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $8.9M+3.0% | $8.2M+17.9% | $8.7M+16.8% | $9.1M+22.6% | $8.7M+16.2% | $7.0M-14.6% | $7.5M+218.7% | $7.4M+361.2% |
| Current Liabilities | $3.9M+6.0% | $3.2M+62.3% | $3.7M+50.6% | $4.1M+95.1% | $3.7M+87.9% | $2.0M-13.3% | $2.4M+8.7% | $2.1M+42.5% |
| Non-Current Liabilities | $5.0M+0.7% | $5.0M+0.5% | $5.0M+0.3% | $5.0M-5.7% | $5.0M-9.2% | $5.0M-15.1% | $5.0M+5539.7% | $5.3M+3549.2% |
| Total Equity | -$2.4M-350.7% | -$408K-144.1% | $1.2M-50.1% | $2.6M-23.6% | -$530K-116.7% | $924K-79.5% | $2.5M-58.0% | $3.4M-55.4% |
| Retained Earnings | -$97.5M-8.5% | -$95.4M-8.3% | -$93.5M-8.6% | -$91.9M-8.7% | -$89.9M-6.6% | -$88.1M-7.1% | -$86.1M-7.2% | -$84.5M-8.1% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
DYAI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8M-1298.3% | -$2.0M-0.7% | -$1.8M-154.2% | -$1.9M-821.3% | -$130K+93.4% | -$1.9M-75.2% | -$696K+24.6% | -$201K+89.8% |
| Stock-Based Compensation | $144K-57.6% | $139K-38.1% | N/A | $172K-30.3% | $340K+14.4% | $225K-26.6% | N/A | $247K-12.1% |
| Investing Cash Flow | -$357K+62.9% | $1.3M+162.6% | $468K-62.9% | $93K+880.2% | -$962K+61.1% | $482K+173.6% | $1.3M+3598.8% | -$12K-100.3% |
| Financing Cash Flow | N/A | N/A | -$1-100.0% | $4.9M | $0 | $24K-99.6% | $24K | $0 |
Not reported in any period shown, so not listed: Depreciation & Amortization, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
DYAI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -2.4%-38.9pp | 28.7%+4.4pp | 32.0%-24.9pp | 12.1%-67.7pp | 36.5%+14.8pp | 24.4%-32.6pp | 56.8%+7.8pp | 79.8%+6.4pp |
| Operating Margin | -213.7% | -171.3% | -271.6% | -165.3% | -178.9% | -508.8% | -187.2% | -10.3% |
| Net Margin | -221.0% | -176.0% | -277.1% | -169.7% | -185.6% | -515.2% | -189.7% | -10.4% |
| Return on Equity | N/A | N/A | -127.2%-64.4pp | -75.8%-69.8pp | N/A | -219.5%-175.0pp | -62.8%-27.5pp | -6.0%+15.1pp |
| Return on Assets | -32.5%-10.5pp | -25.0%+0.6pp | -15.8%-0.1pp | -16.9%-15.0pp | -22.0%-2.8pp | -25.7%-9.8pp | -15.6%+9.6pp | -1.9%+15.6pp |
| Current Ratio | 1.65-0.4x | 2.42-1.6x | 2.68-1.3x | 2.85-2.3x | 2.02-3.4x | 3.98-1.6x | 4.01+0.4x | 5.15-1.1x |
| Debt-to-Equity | N/A | N/A | 7.07+4.1x | 3.48+1.3x | N/A | 7.55+5.7x | 3.02+2.6x | 2.17+2.0x |
| Asset Turnover | 0.150.0x | 0.14+0.1x | 0.060.0x | 0.10-0.1x | 0.12+0.1x | 0.050.0x | 0.080.0x | 0.18+0.1x |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Dyadic International, Inc. DYAI | FY2025 | $3.1M | -$7.4M | N/A | $18.3M | 49/100 |
| LakeShore Biopharma Co., Ltd LSB | FY2025 | $85.7M | -$13.9M | -16.3% | $25.8M | 48/100 |
| CASI Pharmaceuticals, Inc. CASI | FY2025 | $20.7M | -$48.1M | N/A | $4.3M | 21/100 |
| AN2 Therapeutics, Inc. ANTX | FY2025 | N/A | -$35.2M | N/A | $211.7M | — |
| Pluri Inc. PLUR | FY2026 | $1.0M | -$23.8M | N/A | $12.8M | 41/100 |
| Estrella Immunopharma, Inc. ESLA | FY2025 | N/A | -$13.1M | N/A | $19.1M | — |
Where Dyadic International, Inc. Ranks
Frequently Asked Questions
What is Dyadic International, Inc.'s annual revenue?
Dyadic International, Inc. (DYAI) reported $3.1M in total revenue for fiscal year 2025. This represents a -11.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Dyadic International, Inc.'s revenue growing?
Dyadic International, Inc. (DYAI) revenue declined by 11.6% year-over-year, from $3.5M to $3.1M in fiscal year 2025.
Is Dyadic International, Inc. profitable?
No, Dyadic International, Inc. (DYAI) reported a net income of -$7.4M in fiscal year 2025.
What is Dyadic International, Inc.'s gross margin?
Dyadic International, Inc. (DYAI) had a gross margin of 24.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Dyadic International, Inc.'s return on equity (ROE)?
Dyadic International, Inc. (DYAI) has a return on equity of -597.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Dyadic International, Inc.'s operating cash flow?
Dyadic International, Inc. (DYAI) recorded an outflow of $5.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Dyadic International, Inc.'s total assets?
Dyadic International, Inc. (DYAI) had $9.9M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Dyadic International, Inc. spend on research and development?
Dyadic International, Inc. (DYAI) invested $2.2M in research and development during fiscal year 2025.
What is Dyadic International, Inc.'s current ratio?
Dyadic International, Inc. (DYAI) had a current ratio of 2.68 as of fiscal year 2025, which is generally considered healthy.
What is Dyadic International, Inc.'s debt-to-equity ratio?
Dyadic International, Inc. (DYAI) had a debt-to-equity ratio of 7.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Dyadic International, Inc.'s return on assets (ROA)?
Dyadic International, Inc. (DYAI) had a return on assets of -74.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Dyadic International, Inc.'s P/E ratio?
Dyadic International, Inc. (DYAI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $18.3M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Dyadic International, Inc.'s price-to-sales ratio?
Dyadic International, Inc. (DYAI) trades at 4.8x sales, its market capitalization divided by revenue of $3.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $18.3M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Dyadic International, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Dyadic International, Inc. (DYAI) held $7.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.7M over that year. Dividing the one by the other, the reported balance equals about 15 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Dyadic International, Inc.'s Altman Z-Score?
Dyadic International, Inc. (DYAI) has an Altman Z-Score of -13.22, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Dyadic International, Inc.'s Piotroski F-Score?
Dyadic International, Inc. (DYAI) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Dyadic International, Inc.'s earnings high quality?
Dyadic International, Inc. (DYAI) reported a net loss of $7.4M while operations used $5.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Dyadic International, Inc.?
Dyadic International, Inc. (DYAI) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.