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Dyadic International (DYAI) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · Dyadic International (DYAI) Q2 2026 earnings results →

Q2 2026 Revenue down 1% year over year to $961K · 221¢ of every $1 of revenue lost · operating margin -213.7%

Dyadic International made $961K in Q2 2026 (-0.6% Y/Y): Grant $837K, Research and Development $124K. Operating margin -213.7%, net loss $2.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.

Revenue$961K
Year over year-0.6%
Operating margin-213.7%
Net earnings−$2.1M
Operating cash flow−$1.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.0M in Q2 2026, down 1% year over year and down 13% from the previous quarter. Grant was the largest line at 87% of revenue. Research and Development lost $90K year over year (down 42%), 1631% of the total change.

Operating costs exceeded revenue by $2.1M, an operating margin of -213.7%. Total costs grew 12% against a revenue fall of 1%. The fastest-growing cost line was Cost of revenue (+60%). The quarter ended with a net loss of $2.1M, wider than the previous quarter's $2.0M loss.

Operating cash flow was −$1.8M. Non-cash charges added back $144K of share-based compensation. Working capital and other items added $161K.

Quarterly history

Dyadic International revenue by quarterDyadic International revenue by quarter$817KQ4 2024$394KQ1 2025$967KQ2 2025$1.2MQ3 2025$566KQ4 2025$1.1MQ1 2026$961KQ2 2026
Dyadic International net earnings by quarterDyadic International net earnings by quarter−$1.6MQ4 2024−$2.0MQ1 2025−$1.8MQ2 2025−$2.0MQ3 2025−$1.6MQ4 2025−$2.0MQ1 2026−$2.1MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 12, 2026$961K-0.6%-213.7%−$2.1M−$1.8M
Q1 202610-QMay 13, 2026$1.1M+182%-171.3%−$2.0M−$2.0M
Q4 202510-KMar 25, 2026$566K-31%-271.6%−$1.6M−$1.8M
Q3 202510-QNov 12, 2025$1.2M-40%-165.3%−$2.0M−$1.9M
Q2 202510-QAug 13, 2025$967K+150%-178.9%−$1.8M−$130K
Q1 202510-QMay 14, 2025$394K+18%-508.8%−$2.0M−$1.9M
Q4 202410-KMar 26, 2025$817K+19%-187.2%−$1.6M−$696K

Charts

Dyadic International: revenue growth, year over year and quarter over quarterDyadic International: revenue growth, year over year and quarter over quarterY/YQ/Q+19%Q4 2024+18%-52%Q1 2025+150%+146%Q2 2025-40%+20%Q3 2025-31%-51%Q4 2025+182%+96%Q1 2026-1%-13%Q2 2026
Latest (Q2 2026): Y/Y -1%, Q/Q -13%.
Dyadic International: where the cash came from (+) and went (−), TTM to Q2 2026Dyadic International: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$7.4MNot reconciled$4.9MOther investing$1.5MCash drawn (+) / kept (−)$993KExchange rates−$1K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Dyadic International: profit against cash, quarter by quarterDyadic International: profit against cash, quarter by quarterNet incomeOperating cash flow−$203K−$201KQ3 2024−$1.6M−$696KQ4 2024−$2.0M−$1.9MQ1 2025−$1.8M−$130KQ2 2025−$2.0M−$1.9MQ3 2025−$1.6M−$1.8MQ4 2025−$2.0M−$2.0MQ1 2026−$2.1M−$1.8MQ2 2026
Latest (Q2 2026): Net income −$2.1M, Operating cash flow −$1.8M.
Dyadic International: diluted shares by fiscal yearDyadic International: diluted shares by fiscal year27MFY202028MFY202129MFY202433MFY2025
+18.8% since FY2020: more shares outstanding (issuance, stock pay).
Dyadic International in its industry: growth against margin (76 companies, SIC 2836)Dyadic International in its industry: growth against margin (76 companies, SIC 2836)revenue growth, year over year →↑ operating marginmedian +9%median -100%AMGNGILDBIIBMRNANBIXEXELHALOMGTXTECHVIRRGENTARSBCRXALECADMAKRYSIOVATWSTIPSCIMCRVISKVCELADPTNVAXKYMRGLUEIBRXAUTLAGENDNAPLXRXRXFENCCSBRCHRSIVVDCRSPEDITDTILVXRTSTRORGNXCCCCBSEMSCLXACOGTSHASRZNVYGRFDMTLENZALGSXFORELUTFATEOCGNSCTXCRBUCGONDBVTINBXMGXLCTXTCRXPRMEATRAVitro Biopharma, Inc.HUMARLAYPLURBEAMPROKCRDFAIMVIVSDYAI (-1%, -100%)
Biological Products, (No Diagnostic Substances); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Dyadic International

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.

In its own words, from its 8-K, filed Aug 12, 2026.

Dyadic International against its Biological Products, (No Diagnostic Substances) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.6% against the peers' median +11%. Operating margin: -213.7% against the peers' median 35.8%.

CompanyQuarterRevenueY/YOp. margin
DYAI Dyadic InternationalQ2 2026$961K-0.6%-213.7%
AMGN AmgenQ3 2026$10.4B+8%35.8%
GILD Gilead SciencesQ3 2026$8.3B+7%41.7%
BIIB BiogenQ3 2026$2.8B+11%-0.3%
MRNA ModernaQ3 2026$1.3B+29%9.9%
NBIX Neurocrine BiosciencesQ3 2026$1.1B+41%29.5%
EXEL ExelixisQ3 2026$659M+10%40.8%
HALO Halozyme TherapeuticsQ3 2026$493M+39%59.8%
MGTX MeiraGTx HoldingsQ2 2026$321M87×76.0%

Source: Dyadic International 10-Q on SEC EDGAR · CIK 1213809 · Biological Products, (No Diagnostic Substances)

13F: who owns DYAI and who is buying

Largest holders of DYAI (13F)Largest holders of DYAI (13F)Vanguard Group$860KVanguard Capital Management LLC$832KApis Capital Advisors, LLC$721KChapin Davis$419KTruist Financial$292KNortheast Financial Consultants$248KGeode Capital Management, LLC$225KBlackRock$177KVanguard Fiduciary Trust$125KHighTower Advisors, LLC$71K
Funds' net buying of DYAI by quarter (13F)Funds' net buying of DYAI by quarter (13F)$7K2024-09$66K2024-12−$81K2025-03−$34K2025-06$1.4M2025-09−$283K2025-12−$484K2026-03−$461K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DYAI

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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