Dyadic International, Inc.
DYAIHealthcare|Biotechnology|US
$0.34
-0.00 (-0.09%)
Cash / Share
$0.09
Financials
Financial Snapshot
Market Cap
$13.6M
Enterprise Value
$17.2M
Revenue (TTM)
$3.5M
Net Income (TTM)
-$7.6M
Cash & Investments
$3.1M
Net Cash
-$1.9M
Free Cash Flow (TTM)
-$7.4M
Operating CF (TTM)
-$7.4M
Debt/Equity
-2.11
Cash Runway & Burn Rate
Cash on Hand
$3.1M
Quarterly Burn
$1.9M
Monthly Burn
$617.0K
Est. Runway
~1.7 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $48.9M | $47.7M | $41.2M | $34.2M | $29.1M | $20.3M | $12.6M | $7.3M | $9.3M | $7.3M | $3.1M | |
| Operating Cash Flow | -$6.0M | -$2.6M | -$4.4M | -$5.8M | -$6.6M | -$11.3M | -$8.1M | -$6.7M | -$4.0M | -$5.7M | -$7.4M | |
| Free Cash Flow | -$6.0M | -$2.6M | -$4.4M | -$5.8M | -$6.6M | -$11.3M | -$8.1M | -$6.7M | -$4.0M | -$5.7M | -$7.4M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $2.00 | $2.00 | $0.00 | $0.00 | $0.00 | -$4.00 | $0.00 | $8.00 | |
| Financing Cash Flow | -$13.1M | -$6.2M | -$2.3M | $550.2K | $255.5K | $1.2M | $543.6K | $0.00 | $5.8M | $5.0M | $4.9M |
R&D Spending
R&D (TTM)
$1.6M
R&D Intensity
46.6%
R&D Growth vs Prior
-24.9%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $592.9K | $758.4K | $1.3M | $1.7M | $1.6M | $2.4M | $2.9M | $2.9M | $3.5M | $1.2M | $3.5M | |
| R&D Expense | $885.6K | $2.2M | $3.3M | $5.4M | $3.9M | $8.4M | $4.5M | $3.3M | $2.0M | $2.2M | $1.6M | |
| R&D % of Revenue | 149.4% | 290.5% | 256.1% | 322.2% | 241.5% | 349.1% | 153.6% | 113.7% | 58.5% | 174.8% | 46.6% | |
| SG&A | $4.6M | $5.0M | $4.5M | $5.5M | $6.1M | $6.7M | $6.4M | $5.8M | $6.1M | $5.8M | $6.2M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $592.9K | $758.4K | $1.3M | $1.7M | $1.6M | $2.4M | $2.9M | $2.9M | $3.5M | $1.2M | $3.5M | |
| Cost of Revenue | $516.2K | $680.2K | $1.0M | $1.5M | $1.4M | $1.9M | $2.1M | $2.0M | $1.2M | $2.3M | $2.4M | |
| Gross Profit | $76.7K | $78.2K | $268.2K | $221.4K | $177.0K | $459.4K | $807.1K | $923.0K | $2.3M | -$1.1M | $1.1M | |
| R&D | $885.6K | $2.2M | $3.3M | $5.4M | $3.9M | $8.4M | $4.5M | $3.3M | $2.0M | $2.2M | $1.6M | |
| SG&A | $4.6M | $5.0M | $4.5M | $5.5M | $6.1M | $6.7M | $6.4M | $5.8M | $6.1M | $5.8M | $6.2M | |
| Operating Income | -$6.0M | -$7.1M | -$7.6M | -$9.3M | -$10.0M | -$14.7M | -$10.2M | -$8.2M | -$5.9M | -$7.1M | -$7.4M | |
| Interest Expense | $909.00 | $566.1K | $894.5K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $428.0K | $455.9K | $418.9K | |
| Pretax Income | -$3.4M | -$2.2M | -$6.7M | -$8.3M | -$9.3M | -$13.1M | -$9.7M | -$6.8M | -$5.8M | -$7.4M | -$7.6M | |
| Net Income | -$3.6M | -$2.1M | -$5.7M | -$8.3M | -$9.3M | -$13.1M | -$9.7M | -$6.8M | -$5.8M | -$7.4M | -$7.6M | |
| EPS (Diluted) | -0.10 | -0.07 | -0.21 | -0.31 | -0.34 | -0.47 | -0.34 | -0.24 | -0.20 | -0.23 | -0.21 | |
| EBITDA | $0.00 | $0.00 | -$168.0K | $0.00 | -$10.0M | -$11.1M | -$10.1M | $0.00 | -$5.4M | -$6.9M | -$7.2M | |
| Shares Out. (M) | 36.54 | 28.92 | 27.67 | 27.00 | 27.47 | 27.84 | 28.36 | 28.80 | 29.32 | 32.62 | 36.44 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.9M | $5.8M | $2.4M | $4.8M | $20.6M | $15.7M | $5.8M | $6.5M | $6.5M | $4.6M | $1.4M | |
| Short-Term Investments | $42.1M | $41.9M | $38.8M | $29.4M | $8.5M | $4.5M | $6.8M | $748.3K | $2.8M | $2.7M | $1.7M | |
| Total Current Assets | $57.6M | $49.6M | $42.7M | $35.6M | $29.8M | $21.0M | $13.4M | $8.1M | $9.8M | $9.9M | $6.4M | |
| Total Assets | $58.7M | $50.7M | $43.3M | $37.5M | $30.1M | $21.3M | $13.7M | $8.2M | $9.9M | $9.9M | $6.5M | |
| Total Current Liabilities | $1.0M | $768.9K | $849.6K | $1.6M | $1.6M | $2.6M | $2.4M | $2.3M | $2.4M | $3.7M | $3.9M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.0M | $5.0M | $5.0M | |
| Total Liabilities | $1.0M | $768.9K | $849.6K | $1.6M | $1.6M | $2.9M | $2.6M | $2.3M | $7.5M | $8.7M | $8.9M | |
| Stockholders' Equity | $57.7M | $50.0M | $42.5M | $35.9M | $28.4M | $18.4M | $11.1M | $5.9M | $2.5M | $1.2M | -$2.4M | |
| Retained Earnings | -$25.2M | -$27.4M | -$33.0M | -$41.4M | -$50.7M | -$63.7M | -$73.5M | -$80.3M | -$86.1M | -$93.5M | -$97.5M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.0M | -$2.6M | -$4.4M | -$5.8M | -$6.6M | -$11.3M | -$8.1M | -$6.7M | -$4.0M | -$5.7M | -$7.4M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $2.00 | $2.00 | $0.00 | $0.00 | $0.00 | -$4.00 | $0.00 | $8.00 | |
| Free Cash Flow | -$6.0M | -$2.6M | -$4.4M | -$5.8M | -$6.6M | -$11.3M | -$8.1M | -$6.7M | -$4.0M | -$5.7M | -$7.4M | |
| Investing Cash Flow | -$42.6M | $103.0K | $3.3M | $7.7M | $22.1M | $5.2M | -$2.4M | $7.4M | -$1.9M | $82.1K | $1.5M | |
| Financing Cash Flow | -$13.1M | -$6.2M | -$2.3M | $550.2K | $255.5K | $1.2M | $543.6K | $0.00 | $5.8M | $5.0M | $4.9M | |
| Issuance of Stock | $100.0K | $0.00 | $0.00 | $550.2K | $255.5K | $0.00 | $0.00 | $0.00 | $24.3K | $5.0M | $4.9M | |
| Repurchase of Stock | -$13.3M | -$6.2M | -$2.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.8M | $0.00 | $0.00 | |
| Stock Based Comp. | $624.8K | $643.4K | $467.2K | $0.00 | $1.7M | $1.8M | $1.9M | $1.2M | $1.1M | $930.2K | $648.4K | |
| Net Change in Cash | -$61.7M | -$8.5M | -$3.4M | $2.4M | $15.8M | -$4.9M | -$10.0M | $720.8K | -$8.3K | -$653.3K | -$748.3K |
Dilution Tracker
Shares Outstanding
40M
5-Year Share Growth
+18.8%
Stock Issuance (TTM)
$4.9M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 36.54 | 28.92 | 27.67 | 27.00 | 27.47 | 27.84 | 28.36 | 28.80 | 29.32 | 32.62 | 36.44 | |
| Change vs Prior % | — | -20.9% | -4.3% | -2.4% | 1.7% | 1.3% | 1.9% | 1.5% | 1.8% | 11.3% | 11.7% | |
| Stock Issuance | $100.0K | $0.00 | $0.00 | $550.2K | $255.5K | $0.00 | $0.00 | $0.00 | $24.3K | $5.0M | $4.9M | |
| Stock Repurchase | -$13.3M | -$6.2M | -$2.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $624.8K | $643.4K | $467.2K | $0.00 | $1.7M | $1.8M | $1.9M | $1.2M | $1.1M | $930.2K | $648.4K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 12.9% | 10.3% | 20.7% | 13.2% | 11.0% | 19.1% | 27.5% | 31.8% | 65.8% | -88.3% | 30.4% | |
| Operating Margin % | -1004.5% | -939.7% | -586.1% | -552.2% | -625.9% | -612.7% | -346.9% | -283.9% | -168.8% | -579.9% | -213.6% | |
| Net Margin % | -608.7% | -281.6% | -439.4% | -494.2% | -582.1% | -543.7% | -332.2% | -234.4% | -166.2% | -597.6% | -219.5% | |
| EBITDA Margin % | 0.0% | 0.0% | -13.0% | 0.0% | -622.0% | -463.4% | -345.2% | 0.0% | -154.0% | -556.7% | -206.9% | |
| FCF Margin % | -1018.0% | -343.6% | -340.2% | -344.0% | -410.4% | -469.1% | -275.9% | -232.1% | -113.7% | -462.7% | -213.2% | |
| ROE % | -6.3% | -4.3% | -13.4% | -23.2% | -32.8% | -71.1% | -87.8% | -115.6% | -235.2% | -597.6% | -2918.1% | |
| ROA % | -6.1% | -4.2% | -13.1% | -22.2% | -31.0% | -61.4% | -71.0% | -82.7% | -58.5% | -74.0% | -116.6% | |
| ROIC % | -10.3% | -13.8% | -15.2% | -25.9% | -35.2% | -78.6% | -90.2% | -136.8% | -78.3% | -113.6% | -279.0% | |
| R&D / Revenue % | 149.4% | 290.5% | 256.1% | 322.2% | 241.5% | 349.1% | 153.6% | 113.7% | 58.5% | 174.8% | 46.6% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 87.8% | 27.9% | 70.8% | 29.8% | -4.7% | 50.1% | 21.9% | -1.1% | 20.6% | -64.7% | |
| Gross Profit | -60.0% | 2.0% | 242.8% | -17.5% | -20.0% | 159.6% | 75.7% | 14.4% | 149.3% | -147.3% | |
| Operating Income | -63.3% | -19.7% | -6.5% | -22.3% | -8.0% | -46.9% | 31.0% | 19.0% | 28.3% | -21.1% | |
| Net Income | -105.5% | 40.8% | -166.5% | -46.0% | -12.2% | -40.2% | 25.5% | 30.2% | 14.5% | -26.8% | |
| EPS (Diluted) | -105.2% | 25.2% | -184.2% | -47.6% | -9.7% | -38.2% | 27.7% | 29.4% | 16.7% | -15.0% | |
| Operating Cash Flow | -651.9% | 56.8% | -69.1% | -31.2% | -13.7% | -71.5% | 28.3% | 16.8% | 40.9% | -43.5% | |
| Free Cash Flow | -651.9% | 56.8% | -69.1% | -31.2% | -13.7% | -71.5% | 28.3% | 16.8% | 40.9% | -43.5% | |
| R&D Expense | 614.1% | 148.8% | 50.6% | 63.3% | -28.6% | 117.0% | -46.4% | -26.7% | -38.0% | 5.4% | |
| SG&A Expense | 18.9% | 10.3% | -10.1% | 22.0% | 10.2% | 10.1% | -4.1% | -9.4% | 5.5% | -6.1% | |
| Total Assets | -23.4% | -13.6% | -14.7% | -13.5% | -19.7% | -29.2% | -35.6% | -40.1% | 20.8% | 0.2% | |
| Book Value / Share | -26.5% | 9.5% | -11.2% | -13.4% | -22.0% | -36.2% | -40.8% | -47.8% | -58.7% | -55.2% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3599.9% | -0.1% | |
| Diluted Shares | 6.3% | -20.9% | -4.3% | -2.4% | 1.7% | 1.3% | 1.9% | 1.5% | 1.8% | 11.3% |
Valuation
P/E (TTM)At Loss
P/S3.92
10Y Low / Med / High11.91 / 52.34 / 102.30
P/B-5.19
10Y Low / Med / High0.80 / 5.20 / 24.88
EV/EBITDAAt Loss
EV/Revenue4.96
10Y Low / Med / High9.93 / 45.37 / 90.68
P/FCFAt Loss
Intrinsic Value Models (per share)
Cash / Share
$0.09
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -16.80 | -18.81 | -9.00 | -16.71 | -15.82 | -9.62 | -3.62 | -6.71 | -8.75 | -4.09 | -1.59 | |
| P/S Ratio | 102.30 | 53.00 | 40.37 | 83.21 | 92.26 | 52.34 | 11.91 | 15.99 | 14.68 | 24.89 | 3.92 | |
| P/B Ratio | 1.05 | 0.80 | 1.23 | 3.90 | 5.20 | 6.84 | 3.15 | 7.89 | 20.77 | 24.88 | -5.19 | |
| EV/EBITDA | 0.00 | 0.00 | -297.12 | 0.00 | -12.76 | -9.88 | -2.88 | 0.00 | -9.27 | -4.53 | -2.40 | |
| EV/Revenue | 90.68 | 45.37 | 38.53 | 80.34 | 79.38 | 45.79 | 9.93 | 13.79 | 14.27 | 25.24 | 4.96 |
Analyst Estimates & Quality
Altman Z-Score
-22.62
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $6.5M | $12.5M | $11.0M |
| Net Income | -$3.6M | $1.1M | -$321.1K |
| EPS | $-0.14 | $0.03 | $-0.01 |
| # Analysts (EPS) | 1 | 2 | 1 |
Revenue Segments
By Product
| Segment | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| License | $247.1K | $352.9K | $1.9M | $265.0K |
| Research and Development | $2.7M | $2.5M | $1.6M | $967.3K |
| Grant | — | — | — | $1.9M |