Dyadic International Reports $393,572 Revenue in Q1 2025, Net Loss Increases

Dyadic International, Inc. reported a total revenue of $393,572 for the first quarter of 2025, marking an increase from $334,617 in the same period of 2024. The revenue comprised $183,100 from research and development and $210,472 from grant revenue, the latter being a new addition as the company had no grant revenue in the prior year. Despite the increase in revenue, the company experienced a net loss of $2,027,579, slightly higher than the $2,009,596 loss reported in the first quarter of 2024. The basic and diluted net loss per share remained consistent at $(0.07) for both periods.

In terms of operational changes, Dyadic's research and development revenue decreased due to a reduction in the number of collaborations, dropping from nine in the previous year to four in the current quarter. The company also reported a decrease in research and development expenses, which totaled $494,979 compared to $522,723 in the prior year. General and administrative expenses decreased by 10.8% to $1,596,338, reflecting cost-cutting measures in business development and management incentives.

Strategically, Dyadic has made significant advancements in its product offerings, particularly with the launch of its Dapibus™ Protein Production Platform, which aims to address the growing demand for functional recombinant proteins. The company has also secured grants from the Gates Foundation and CEPI, totaling $7.5 million, to support its ongoing projects, including the development of monoclonal antibodies and recombinant protein vaccines. These initiatives are expected to enhance Dyadic's market position and drive future revenue growth.

As of March 31, 2025, Dyadic's total assets were reported at $7,894,878, a decrease from $9,930,275 at the end of 2024. The company had cash and cash equivalents of $5,064,941, down from $6,506,750, and short-term investment securities of $2,284,472. The total liabilities also decreased to $6,971,267 from $7,459,985, primarily due to a reduction in accrued expenses and deferred research obligations. The company anticipates that its existing cash and investment securities will be sufficient to meet operational needs for at least the next twelve months, although it may seek additional capital through various financing strategies if necessary.

Looking ahead, Dyadic remains focused on advancing its microbial protein production platforms and expanding its product pipeline. The company expects to achieve commercialization of certain functional recombinant products in 2025, leveraging existing collaborations and internal manufacturing efforts. However, it cautions that the success of its initiatives depends on various factors, including market conditions and regulatory approvals, which could impact future performance.