$DYAI

DYADIC INTERNATIONAL INC

CIK:0001213809|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 961,138	$ 966,630	$ 2,072,094	$ 1,360,202
Costs and expenses:
Costs of research and development revenue	123,322	148,457	463,479	274,937
Costs of grant revenue	860,843	465,134	1,312,526	636,312
Research and development	332,621	629,379	808,690	1,124,358
General and administrative	1,689,863	1,436,630	3,445,194	3,032,968
Foreign currency exchange (gain) loss	8,693	16,098	(898)	23,170
Total costs and expenses	3,015,342	2,695,698	6,028,991	5,091,745
Loss from operations	(2,054,204)	(1,729,068)	(3,956,897)	(3,731,543)
Other income (expense):
Interest income	39,705	49,127	96,896	137,585
Total other expense, net	(69,680)	(64,706)	(121,670)	(89,810)
Net loss	$ (2,123,884)	$ (1,793,774)	$ (4,078,567)	$ (3,821,353)
Basic net loss per common share	$ (0.06)	$ (0.06)	$ (0.11)	$ (0.13)
Diluted net loss per common share	$ (0.06)	$ (0.06)	$ (0.11)	$ (0.13)
Basic weighted-average common shares outstanding	36,438,703	30,102,324	36,418,462	30,071,285
Diluted weighted-average common shares outstanding	36,438,703	30,102,324	36,418,462	30,071,285
Nonrelated Party [Member]
Other income (expense):
Interest expense	$ (64,479)	$ (89,456)	$ (128,821)	$ (178,699)
Related Party [Member]
Other income (expense):
Interest expense	(44,906)	(24,377)	(89,745)	(48,696)
Research And Development Expenses [Member]
Revenue:
Total revenue	123,886	213,449	527,476	396,549
Grant [Member]
Revenue:
Total revenue	837,252	503,181	1,324,618	713,653
License [Member]
Revenue:
Total revenue		$ 250,000	$ 220,000	$ 250,000

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (2,123,884)	$ (1,793,774)	$ (4,078,567)	$ (3,821,353)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	144,372	340,462	283,671	565,492
Amortization of held-to-maturity securities, net			(8,422)	(15,996)
Amortization of debt issuance costs			14,966	23,794
Foreign currency exchange (gain) loss, net	8,693	16,098	(898)	23,170
Changes in operating assets and liabilities:
Interest receivable			19,115	(10,488)
Accounts receivable			(217,922)	(471,860)
Prepaid expenses and other current assets			(199,819)	218,050
Operating lease assets and liabilities			(883)	11
Accounts payable			(28,437)	224,080
Accrued expenses			602,510	191,009
Accrued interest - related party				(5,373)
Deferred research and development obligation			(166,680)	999,718
Net cash used in operating activities			(3,781,366)	(2,079,746)
Cash flows from investing activities
Purchases of held-to-maturity investment securities			(1,293,431)	(4,560,278)
Proceeds from maturities of investment securities			2,202,743	4,080,762
Net cash provided/(used in) investing activities			909,312	(479,516)
Cash flows from financing activities
Proceeds from exercise of stock				24,249
Net cash provided by financing activities				24,249
Effect of exchange rate changes on cash			(432)	2,693
Net decrease in cash, cash equivalents, and restricted cash			(2,872,486)	(2,532,320)
Cash, cash equivalents, and restricted cash at beginning of period			5,853,499	6,506,750
Cash, cash equivalents, and restricted cash at end of period	2,981,013	3,974,430	2,981,013	3,974,430
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	1,425,364	2,140,899	1,425,364	2,140,899
Restricted cash	1,555,649	1,833,531	1,555,649	1,833,531
Total cash, cash equivalents, and restricted cash	2,981,013	3,974,430	2,981,013	3,974,430
Supplemental cash flow information
Vesting of restricted stock units			171,242	269,100
Cash paid for interest	$ 101,800	$ 101,800	$ 203,600	$ 208,973

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,425,364	$ 4,622,331
Short-term investment securities	1,688,355	2,698,661
Restricted cash	1,555,649	1,231,168
Interest receivable	16,014	35,129
Accounts receivable	1,302,439	1,090,297
Prepaid expenses and other current assets	418,943	219,067
Total current assets	6,406,764	9,896,653
Non-current assets:
Long-term investment securities	109,416
Operating lease right-of-use asset, net	9,851	38,535
Other assets	10,500	10,537
Total assets	6,536,531	9,945,725
Current liabilities:
Accounts payable	816,059	852,024
Accrued expenses	1,395,680	967,974
Deferred research and development obligations	1,564,172	1,730,852
Operating lease liability	5,054	34,621
Total current liabilities	3,882,765	3,687,271
Non-current liabilities:
Total liabilities	8,923,775	8,713,315
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $.0001 par value: Authorized shares - 5,000,000; none issued and outstanding
Common stock, $.001 par value: Authorized shares - 100,000,000; issued shares - 48,692,205 and 48,441,300, outstanding shares - 36,438,703 and 36,187,798 as of June 30, 2026, and December 31, 2025, respectively	48,693	48,442
Additional paid-in capital	114,023,653	113,564,991
Treasury stock shares held at cost - 12,253,502	(18,929,915)	(18,929,915)
Accumulated deficit	(97,529,675)	(93,451,108)
Total stockholders’ (deficit) equity	(2,387,244)	1,232,410
Total liabilities and stockholders’ equity	6,536,531	9,945,725
Nonrelated Party [Member]
Current liabilities:
Accrued interest	60,000	60,000
Non-current liabilities:
Convertible notes, net of issuance costs	2,971,125	2,962,304
Related Party [Member]
Current liabilities:
Accrued interest	41,800	41,800
Non-current liabilities:
Convertible notes, net of issuance costs	$ 2,069,885	$ 2,063,740