Dyadic Announces 2025 Financial Results and Highlights Recent Company Progress

JUPITER, Fla., March 25, 2026 (GLOBE NEWSWIRE) -- 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 2025 along with significant corporate achievements.

“During 2025 and into early 2026, we have continued to execute our strategy to transition Dyadic into a commercially driven organization by broadening market access, introducing new products, and deepening our partner network across life sciences, food and nutrition, and bioindustrial sectors,” said Joe Hazelton, President and Chief Operating Officer of Dyadic. “The commercial launch of AlbuFree™ DX with Proliant, our expanded collaboration and product launch with Fermbox, our OEM distribution agreement with IBT Bioservices, our development and commercialization agreement with BRIG BIO, and ongoing progress with Inzymes demonstrate the tangible progress we are making to leverage our microbial production platforms to produce products thus enabling recurring revenue streams.”

Mr. Hazelton added, “We remain committed to accelerating commercialization of our expanding portfolio of animal-free proteins and enzymes, providing our partners with scalable manufacturing solutions, and increasing the number of products and channels through which Dyadic can generate long-term value.”

Recent Company Developments and Updates

Life Sciences

Food and Nutrition

Bio-Industrial Products

Biopharmaceutical Programs

Corporate Development

Financial Highlights

Cash Position: As of December 31, 2025, cash, cash equivalents, restricted cash, and the carrying value of investment-grade securities, including accrued interest, were approximately $8.59 million compared to $9.29 million as of December 31, 2024.

Revenue: Total revenue for the year ended December 31, 2025 decreased to $3.09 million from $3.50 million in the prior year. This decline was primarily driven by a $638,000 reduction in research and development revenue, reflecting fewer active collaborations. License and milestone revenue totaled $265,000 in 2025, derived from the Inzymes and BrigBio agreements, compared to $1.89 million in 2024 from Inzymes and Proliant agreements. These decreases were partially offset by a $1.86 million increase in grant revenue from the Gates Foundation and CEPI in 2025.

Cost of Revenue: Cost of research and development revenue decreased to $601,000 for 2025, compared to $1.20 million in the prior year. Grant-related costs totaled $1.72 million in 2025, compared to none in 2024.

R&D Expenses: Research and development expenses increased modestly to $2.16 million in 2025 from $2.04 million in 2024, driven by a higher level of internal research activities aimed at accelerating product development.

G&A Expenses: General and administrative expenses decreased to $5.76 million in 2025 from $6.13 million in 2024. The reduction was primarily due to lower management incentive compensation ($225,000), share-based compensation ($166,000), and insurance costs ($51,000), partially offset by higher professional services ($51,000) and other expenses ($18,000).

Loss from Operations: Loss from operations increased to $7.19 million in 2025, compared to $5.90 million in 2024. The increase was primarily attributable to lower license and milestone revenue, partially offset by reduced G&A expenses.

Net Loss: Net loss for the year ended December 31, 2025 was $7.36 million or $(0.23), compared to a net loss of $5.81 million or $(0.20) per share, in 2024.

Conference Call Information

Date: Wednesday, March 25, 2026

Time: 5:00 p.m. Eastern Time

Dial-in numbers: Toll Free: +1-877-407-9219 / +1 412-652-1274

Conference ID: 13758915

Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=KTBXw5BI.

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.

Safe Harbor Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including those regarding Dyadic International’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. Forward-looking statements generally can be identified by use of the words “expect,” “should,” intend,” anticipate,” “will,” “project,” “may,” “might,” “potential,” or “continue” or other similar terms or variations of them. Forward-looking statements involve many risks, uncertainties or other factors beyond Dyadic’s control. These factors include, but are not limited to, the following: (i) our history of net losses; (ii) market and regulatory acceptance of our microbial protein production platforms and other technologies; (iii) failure to commercialize our microbial protein production platforms or our other technologies; (iv) competition, including from alternative technologies; (v) the results of nonclinical studies and clinical trials; (vi) our capital needs; (vii) changes in global economic and financial conditions; (viii) our reliance on information technology; (ix) our dependence on third parties; (x) government regulations and environmental, social and governance issues; (xi) intellectual property risks; and (xii) our ability to comply with the listing standards of the Nasdaq Stock Market LLC. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in Dyadic’s annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the SEC, as such factors may be updated from time to time in Dyadic’s periodic filings with the SEC, which are accessible on the SEC’s website and at www.dyadic.com. All forward-looking statements speak only as of the date made, and except as required by applicable law, Dyadic assumes no obligation to publicly update any such forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.

Contact:

Dyadic International, Inc.

Ping Rawson

Chief Financial Officer

Phone: (561) 743-8333

Email: ir@dyadic.com

See Notes to Consolidated Financial Statements in Item 1 of Dyadic’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 25, 2026.

See Notes to Consolidated Financial Statements in Item 1 of Dyadic’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 25, 2026.