Dyadic International Reports Revenue Growth to $966,630 in Q2 2025, Plans Rebranding

Dyadic International, Inc. reported a total revenue of $966,630 for the three months ended June 30, 2025, a significant increase from $385,896 in the same period of 2024. For the six months ended June 30, 2025, total revenue reached $1,360,202, compared to $720,513 in the prior year. The revenue growth was primarily driven by grant revenue of $503,181, which was not present in the previous year, and license and milestone revenue of $250,000 related to the Inzymes Agreement. However, research and development revenue decreased to $213,449 from $385,896 year-over-year, attributed to a reduction in active collaborations.

The company's net loss for the second quarter of 2025 was $1,793,774, a slight improvement from a loss of $2,045,223 in the same quarter of 2024. For the first half of 2025, the net loss was $3,821,353, compared to $4,054,819 in the prior year. The decrease in net loss was largely due to increased total revenue and reduced general and administrative expenses, which fell by 10.6% to $1,436,630 in the second quarter. Research and development expenses increased to $629,379, reflecting a rise in internal research initiatives.

In terms of operational developments, Dyadic reported a decrease in the number of active collaborations, with eight active collaborations in the second quarter of 2025 compared to ten in the same period of 2024. The company also noted a significant increase in accounts receivable, which rose to $715,317 from $237,027 at the end of the previous fiscal year. The total liabilities increased to $8,667,747 as of June 30, 2025, up from $7,459,985 at the end of 2024, primarily due to an increase in deferred research and development obligations.

Strategically, Dyadic is transitioning to a commercially focused enterprise, rebranding itself as Dyadic Applied BioSolutions effective August 1, 2025. This shift aims to emphasize the commercialization of its proprietary C1 and Dapibus™ gene expression platforms. The company has also secured significant grants, including a $3.1 million grant from the Gates Foundation and a $4.5 million grant from CEPI, to support its research and development efforts. Additionally, Dyadic raised approximately $5.3 million in net proceeds from a public offering of common stock, which is intended to support working capital and product development.

Looking ahead, Dyadic expects its existing cash, cash equivalents, and the capital raised from the recent offering to be sufficient to meet its operational needs for at least the next twelve months. However, the company acknowledges the potential need for additional capital to support its ongoing development efforts and has indicated that it may pursue various financing opportunities, including public or private equity offerings and collaboration agreements.