Dyadic International Inc.
08/12/2026 | Press release | Distributed by Public on 08/12/2026 06:46
DYADIC ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS (Form 8-K)
DYADIC ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS
ACCELERATINGCOMMERCIALIZATION MOMENTUM ACROSS KEY BUSINESS AREAS
Dyadic to host earnings call on August 12 at 5:00 pm ET
JUPITER, FL - August 12, 2026 - Dyadic International, Inc. ("Dyadic", "we", "us", "our", or the "Company") (NASDAQ: DYAI), d/b/a Dyadic Applied BioSolutions, a global biotechnology company producing precision-engineered, animal-free proteins and enzymes for diverse commercial applications, today reported its financial results for the second quarter ended June 30, 2026, highlighting significant progress in product commercialization, strategic partnerships, and C1 biomanufacturing platform expansion.
"Our strong second-quarter performance underscores Dyadic's ongoing transformation into a commercial-stage biotechnology leader, "said Joe Hazelton, President and COO. "We are driving commercial launches and sales of recombinant proteins, securing recurring revenue through strategic partners, distribution and optimizing manufacturing yields across life sciences, food and nutrition, and bioindustrial markets. Simultaneously, leading global health, government, academic and industry collaborations continue to validate the speed, productivity, scalability and potential commercial viability of our proprietary C1 expression system, while advancing C1-produced antibodies, vaccine antigens and other biologics toward broader preclinical evaluation and potential future clinical and commercial adoption."
Recent Company Developments
| ● | Commercial Sales & Product Shipments: Advanced the recombinant protein portfolio through Q2 product shipments directly and through distribution partners. Subsequent to quarter-end, Dyadic completed shipments of six distinct recombinant protein products and generated initial pilot sales of recombinant transferrin and growth factors for cultivated-meat applications. |
| ● | OEM Distribution Progress: Initiated Q2 shipments to IBT Bioservices under Dyadic's OEM distribution agreement, with additional shipments completed after quarter-end, supporting product evaluation, qualification and commercialization across IBT's global life-science customer network. |
| ● | Proliant Health & Biologicals: Proliant has begun commercialization of Albufree™ DX recombinant human albumin for life science and diagnostic applications and announced plans to expand the Albufree™ portfolio with Albufree™ TX for cell culture and Albufree™ CGT for cell and gene therapy applications, positioning Dyadic for future royalties. |
| ● | Fermbox Bio: Scaled commercialization and initial orders for recombinant DNase I (RNase-free) and recombinant human transferrin. |
| ● | Inzymes: Confirmed initial commercial sales of non-animal bovine chymosin, with a second product in development that could trigger milestone payments and royalties. |
| ● | Cell Culture & Life-Science Products: Continued advancing animal-free recombinant proteins for cell-culture and related applications. Pilot-scale process improvements increased recombinant human transferrin productivity by approximately 80%, further supporting the potential for competitive manufacturing economics as Dyadic advances transferrin, albumin, growth factors and other recombinant animal-free proteins toward broader commercial use. |
| ● | Food & Nutrition Pipeline Expansion: Initiated scale-up activities with BRIG BIO for recombinant bovine alpha-lactalbumin under a funded development agreement. Subsequent to quarter-end, Dyadic expanded its precision-fermented dairy protein portfolio through an additional development and commercialization agreement, broadening potential opportunities to generate future product, licensing and royalty revenues. |
| ● | Global Health Programs: Advanced Gates Foundation-funded RSV and malaria monoclonal antibody ("mAb") programs, with C1-produced antibodies demonstrating high productivity and functional characteristics comparable to established mammalian-cell reference materials. Funding is in place to advance these programs, and Dyadic is working toward delivery of C1-produced material to support initiation of preclinical studies with one or both mAbs, providing an additional opportunity to support potential future clinical and commercial adoption. |
Continued C1 development with CEPI/Fondazione Biotecnopolo di Siena ("FBS") to accelerate protein-vaccine antigen development and advancing NIAID-supported preclinical evaluation of C1-produced malaria antigens.
| ● | Rapid Pandemic Response Capabilities: Demonstrated C1's platform agility by producing, purifying and delivering two Scripps-designed Bundibugyo ebolavirus ("BDBV") antigens to Scripps Research and FBS in approximately 15 days from plasmid to purified protein. The antigens are undergoing further characterization and may support future preclinical evaluation, subject to program priorities, additional evaluation and available funding. |
| ● | Government, Academic & Industry Adoption: Continued monoclonal antibody development with the Israel Institute for Biological Research ("IIBR") and expanded access to C1 strains, processes and development capabilities for academic and industry partners evaluating next-generation vaccines and therapeutics. Dyadic is also pursuing several potential monoclonal antibody programs through the European Vaccines Hub/FBS ecosystem, as well as opportunities with prospective first-time C1 collaborators. |
Financial Highlights
Cash Position: As of June 30, 2026, cash, cash equivalents, restricted cash, and the carrying value of investment-grade securities, including accrued interest, were $4,794,798 compared to $8,587,289 as of December 31, 2025.
Revenue: Total revenue for the three months ended June 30, 2026 was $961,138, representing a decrease of $5,492 or 0.6% compared to $966,630 for the three months ended June 30, 2025. The slight decrease was driven by a $89,563 decrease in research and development revenue resulting from the reduction in the numbers and size of collaboration activities, and the absence of a $250,000 milestone revenue recorded in 2025, partially offset by a $334,071 increase in grant revenue from activities under the CEPI and Gates Foundation grants.
Cost of Revenue: Total cost of revenue for the three months period ended June 30, 2026 was $984,165, representing an increase of $370,574 or 60.4% compared to $613,591 for the three months ended June 30, 2025. The increase was due to a $395,709 increase in cost of grant revenue from activities under the CEPI and Gates Foundation grants, partially offset by a $25,135 decrease in the cost of research and development revenue.
R&D Expenses: Research and development expenses for the three months ended June 30, 2026, were $332,621, a decrease of $296,758 or 47.2% compared to $629,379 for the same period in 2025. The decrease was due to reduction in the number of active internal research initiatives.
G&A Expenses: General and administrative expenses for the three months ended June 30, 2026, were $1,689,863, an increase of $253,233 or 17.6%, compared to $1,436,630 for the same period in 2025. The increase was due to higher rebranding and business development expenses of $322,638, increased legal and accounting expenses of $115,836, and other expenses of $43,639, partially offset by a decrease in share-based compensation expenses of $196,408 and incentives of $32,472.
Loss from Operations: Loss from operations for the three months ended June 30, 2026 was $2,054,204, an increase of $325,136 or 18.8%, compared to $1,729,068 for the same period in 2025. The increase was largely attributable to higher total cost of revenue of $370,574 and higher general and administrative expenses of $253,233, partially offset by lower research and development expenses of $296,758.
Net Loss: Net loss for the three months ended June 30, 2026, was $2,123,884 or $(0.06) per share, compared to $1,793,774 or $(0.06) per share for the same period a year ago.
Conference Call Information
Date: Wednesday, August 12, 2026
Time: 5:00 p.m. Eastern Time
Dial-in numbers: Toll Free: +1-877-407-9219 / +1 412-652-1274
Conference ID:13761129
Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=b9s8dhjS
An archive of the webcast will be available within 24 hours after completion of the live event and will be accessible on the Investor Relations section of the Company's website at www.dyadic.com. To access the replay of the webcast, please follow the webcast link above.
About Dyadic Applied BioSolutions
Dyadic Applied BioSolutions is a global biotechnology company that uses its proprietary microbial platforms to produce recombinant proteins that are sold or licensed to partners across the life sciences, food and nutrition, and bio-industrial markets. These high-quality proteins are designed to enable customers to develop more efficient, scalable, and sustainable products. Dyadic's Dapibus™ and C1 expression systems support flexible, cost-effective manufacturing, and are the foundation of a growing portfolio of commercial and partnered programs.
For more information, please visit http://www.dyadic.com.
Dyadic International Inc. published this content on August 12, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 12, 2026 at 12:46 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]