DYAI on Nasdaq

DYADIC INTERNATIONAL INC

DYADIC INTERNATIONAL INC is an American biological products company, incorporated in Delaware.1 It is headquartered in Jupiter, Florida.1 Its shares trade on Nasdaq under the symbol DYAI.1

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Last updated Oct 20, 2026.

Overview

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  • TickerDYAI on Nasdaq1
  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersJupiter, Florida1
  • Incorporated inDE2
  • Business address1044 North U.S. Highway One, Suite 201, Jupiter, Fl 334772
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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BASF SE, Codexis, Inc., and others, for use in industrial (non-pharmaceutical) applications.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-232.8%Operating margin4
-238.3%Net margin4
-11.6%Revenue growth, 20254
-597.6%Return on equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Grant brought in 60% of the revenue DYADIC INTERNATIONAL INC broke down this way in fiscal 2025.

  1. Grant$1.9M460%
  2. Research And Development$967.3K431%down 40% from 2024
  3. License$265.0K49%down 86% from 2024
Products and services by year
Products and services20242025
Grant$1.9M
Research And Development$1.6M$967.3K
License$1.9M$265.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue52¢$2.3M
  • Research and development48¢$2.2M

Out of $3.1M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$3.1M in 2025+84% since 2019
0$1.0M$2.0M$3.0M$4.0M2019: $1.7M$1.7M20192020: $1.6M$1.6M2020−5%2021: $2.4M$2.4M2021+50%2022: $2.9M$2.9M2022+22%2023: $2.9M$2.9M2023−1%2024: $3.5M$3.5M2024+21%2025: $3.1M$3.1M2025−12%
Operating income567894-$7.2M in 2025−23% since 2019
-$15.0M-$10.0M-$5.0M02019: -$9.3M-$9.3M20192020: -$10.0M-$10.0M2020+8%2021: -$14.7M-$14.7M2021+47%2022: -$10.2M-$10.2M2022−31%2023: -$8.2M-$8.2M2023−19%2024: -$5.9M-$5.9M2024−28%2025: -$7.2M-$7.2M2025+22%
Net income567894-$7.4M in 2025−11% since 2019
-$15.0M-$10.0M-$5.0M02019: -$8.3M-$8.3M20192020: -$9.3M-$9.3M2020+12%2021: -$13.1M-$13.1M2021+40%2022: -$9.7M-$9.7M2022−26%2023: -$6.8M-$6.8M2023−30%2024: -$5.8M-$5.8M2024−15%2025: -$7.4M-$7.4M2025+27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Total revenue$3.1M$3.5M
Costs of research and development revenue$600.7K$1.2M
Costs of grant revenue$1.7M
Research and development$2.2M$2.0M
General and administrative$5.8M$6.1M
Foreign currency exchange loss$46.9K$22.6K
Total costs and expenses$10.3M$9.4M
Loss from operations-$7.2M-$5.9M
Interest income$284.1K$457.0K
Gain on sale of Alphazyme$62.6K
Total other income (expense), net-$171.8K$91.7K
Net loss-$7.4M-$5.8M
Basic net loss per common share-$0.23-$0.20
Diluted net loss per common share-$0.23-$0.20
Basic weighted-average common shares outstanding32.6M shares29.3M shares
Diluted weighted-average common shares outstanding32.6M shares29.3M shares

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Corporate structure

DYADIC INTERNATIONAL INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of DYADIC INTERNATIONAL INC

  • Empery Asset Management, LP Filed SCHEDULE 13G on DYADIC INTERNATIONAL INC, latest Oct 15, 2026
  • Francisco Trust under agreement dated February 28, 1996 Filed SCHEDULE 13G/A on DYADIC INTERNATIONAL INC, latest Aug 17, 2026 (8 filings since Feb 28, 2022)
  • Mark A. Emalfarb Filed SCHEDULE 13G/A on DYADIC INTERNATIONAL INC, latest Feb 17, 2026 (4 filings since Feb 14, 2022)
  • Bandera Partners LLC Filed SCHEDULE 13G/A on DYADIC INTERNATIONAL INC, latest Aug 19, 2025 (4 filings since Feb 14, 2022)
  • DYADIC INTERNATIONAL INC Jupiter, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What DYADIC INTERNATIONAL INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$38.5K4 Dec 31, 2025$92.2K4 Dec 31, 2024−58.2%

Real estate and locations

ItemLatestA year beforeChange
Area of real estate1,719 sq ft4 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.6M4 Dec 31, 2025$6.5M4 Dec 31, 2024−29.0%
Marketable securities, current$2.7M4 Dec 31, 2025$2.8M4 Dec 31, 2024−2.1%

Properties, in its own words

The Company maintains its corporate headquarters at 1044 N US 1, Jupiter, Florida under a lease expiring on August 31, 2026, with an option to extend for two (2) successive one (1) year terms. The Company occupies this space with an annual base rent is approximately $59,000, excluding common maintenance expenses. Rent is subject to three percent (3%) annual increases, and the Company is responsible for certain common area maintenance charges and taxes throughout the life of the lease.

The Company maintains a small satellite office in Wageningen, The Netherlands under a lease with an annual rental rate of approximately $5,000. The lease expires on January 31, 2027, and thereafter, the Company intends to reevaluate the need for the leased space to align with the future operations of the Company.

The rest of Item 2

We believe that our current office spaces are adequate to meet our needs for the immediate future, and that, should it be needed, suitable additional space is available to accommodate any expansion of our operations, but such space may not be available in the same building if and when such space is needed.

Item 2 of the 10-K filed Mar 25, 2026.3

Leadership

Who has led DYADIC INTERNATIONAL INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark A. Emalfarb2006–now

President

  1. Mark A. Emalfarb2019–2025
  2. Joseph P. Hazelton2025–now

Chief financial officer

  1. Wayne Moor2006–2007
  2. Pointe Lisa M. Dela2007
  3. Ping Wang Rawson2019–now

Chief operating officer

  1. Joseph P. Hazelton2025–now
2010201520202025
Board members and other officers (17)

Former names

  • CCP WORLDWIDE INCJan 21, 2003 to Nov 5, 20042

Timeline

  1. Sep 25, 20268-K Listing notice or transfer35
  2. Aug 14, 20268-K Entered a material agreement; Unregistered sale of shares; Other events36
  3. Aug 12, 20268-K Results of operations37
  4. Jul 24, 20268-K Other events38
  5. Jun 22, 20268-K Shareholder vote39
  6. Jun 18, 20268-K Listing notice or transfer40
  7. Jun 15, 20268-K Regulation FD disclosure41
  8. May 28, 20268-K Regulation FD disclosure42
  9. May 13, 20268-K Results of operations43
  10. Mar 30, 20268-K Listing notice or transfer44
  11. Mar 25, 20268-K Results of operations45
  12. Mar 6, 20268-K Entered a material agreement46
  13. May 3, 2006New chief executive Mark A. Emalfarb becomes CEO13

Filings

227 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 75 major events, 78 insider forms, 17 large holders, 36 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13G EDGAR
  2. Sep 25, 20268-K EDGAR
  3. Sep 18, 2026EFFECT EDGAR
  4. Sep 18, 2026424B3 EDGAR
  5. Sep 11, 2026S-1 EDGAR
  6. Aug 17, 2026SCHEDULE 13G/A EDGAR
  7. Aug 14, 20268-K EDGAR
  8. Aug 13, 2026424B5 EDGAR
  9. Aug 12, 202610-Q EDGAR
  10. Aug 12, 20268-K EDGAR
  11. Jul 24, 20264 EDGAR
  12. Jul 24, 20268-K EDGAR
  13. Jul 21, 2026144 EDGAR
  14. Jul 6, 20264 EDGAR
  15. Jul 6, 2026SCHEDULE 13G/A EDGAR
  16. Jun 22, 20268-K EDGAR
  17. Jun 18, 2026DEFA14A EDGAR
  18. Jun 18, 20268-K EDGAR
  19. Jun 15, 20268-K EDGAR
  20. May 28, 20268-K EDGAR

The 227 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

16 open-market trades by officers, directors and large owners since October 2021: 1 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jul 24, 2026Francisco Trust under agreement dated February 28, 199610% ownerSale2,616$1.21$3.2KForm 4
Jul 23, 2026Francisco Trust under agreement dated February 28, 199610% ownerSale54,760$1.30$71.2KForm 4
Jul 22, 2026Francisco Trust under agreement dated February 28, 199610% ownerSale38,016$1.33$50.6KForm 4
Aug 1, 2025Hazelton Joseph PPresident & COOBuy26,000$0.95$24.7KForm 4
Jan 7, 2025Francisco Trust under agreement dated February 28, 199610% ownerSale15,000$2.01$30.1KForm 4
Jan 6, 2025Francisco Trust under agreement dated February 28, 199610% ownerSale20,000$1.92$38.4KForm 4
Dec 30, 2024Francisco Trust under agreement dated February 28, 199610% ownerSale40,000$1.98$79.2KForm 4
Dec 24, 2024Francisco Trust under agreement dated February 28, 199610% ownerSale5,100$1.80$9.2KForm 4
Dec 23, 2024Francisco Trust under agreement dated February 28, 199610% ownerSale41,143$1.84$75.7KForm 4
Dec 20, 2024Francisco Trust under agreement dated February 28, 199610% ownerSale25,281$1.87$47.3KForm 4
Jun 6, 2024Francisco Trust under agreement dated February 28, 199610% ownerSale26,340$2.43$64.0KForm 4
Jul 8, 2022TCHELET RONENVP of Research and Bus. DvlpmtSale1,089$3.41$3.7KForm 4
Jul 7, 2022TCHELET RONENVP of Research and Bus. DvlpmtSale7,854$3.50$27.5KForm 4
Dec 23, 2021EMALFARB MARK ACEOSale28,767$4.10$117.9KForm 4
Dec 22, 2021EMALFARB MARK ACEOSale35,649$4.12$146.9KForm 4
Dec 21, 2021EMALFARB MARK ACEOSale26,486$4.33$114.7KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Mark A. Emalfarb (*)71$612.4K$1.0M51
2025Joseph Hazelton50$307.4K$483.3K51
2025Ping Rawson50$278.4K$413.2K51
2024CEO and Director$586.0K$1.0M51
2024President and Chief Operating Officer$273.0K$478.2K51
2024Chief Financial Officer$266.4K$419.1K51

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 39. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC928,233$831.7K0.0%No change
Chapin Davis, Inc.888,004$795.7K0.1%No change
Apis Capital Advisors, LLC804,882$721.2K0.1%−466,090
Truist Financial Corp326,200$292.3K0.0%No change
Geode Capital Management, LLC250,905$224.9K0.0%−62,603
BlackRock, Inc.197,749$177.2K0.0%−77,676
Vanguard Fiduciary Trust Co139,478$125.0K0.0%No change
Marathon Capital Management110,000$98.6K0.0%No change
Sage Mountain Advisors LLC106,564$95.5K0.0%No change
HighTower Advisors, LLC79,469$71.2K0.0%No change
Renaissance Technologies LLC78,786$70.6K0.0%−2,879
Citadel Advisors LLC74,336$66.6K0.0%New
Northern Trust Corp69,745$62.5K0.0%+36,894
Landscape Capital Management, L.l.c.55,263$49.5K0.0%−41,753
AE Wealth Management LLC53,756$48.2K0.0%No change
Perkins Capital Management Inc48,050$43.1K0.0%No change
XTX Topco Ltd46,665$41.8K0.0%New
State Street Corp42,550$38.1K0.0%No change
Pekin Hardy Strauss, Inc.41,745$37.4K0.0%No change
Jane Street Group, LLC41,217$36.9K0.0%New
AlphaCore Capital LLC36,156$32.4K0.0%−36,155
Ashton Thomas Securities, LLC36,155$32.4K0.0%New
LPL Financial LLC34,538$30.9K0.0%+1,500
Inlet Private Wealth, LLC30,000$26.9K0.0%No change
Robertson Stephens Wealth Management, LLC29,969$26.9K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How DYADIC INTERNATIONAL INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARDYADIC INTERNATIONAL INC1
  • CIK0001213809
  • Employer ID (EIN)45-04867473
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1044 North U.S. Highway One, Suite 201, Jupiter, FL 334771
  • Phone561-743-83331
  • Shares outstanding36,438,703 as of Aug 11, 202611
  • Public float$24.2M as of Jun 30, 20253
  • AuditorCrowe LLP, Livingston, New Jersey PCAOB ID 173; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJan 21, 20031
  • Filings540 in all: 8-K (158), 4 (145), 3 (31), 10-Q (23), SC 13G/A (21), SC 13G (12), DEF 14A (10), 10QSB (9)1
    All 47 form types

    424B3 (9), 10-K (8), CORRESP (7), DEFA14A (7), UPLOAD (7), 144 (6), EFFECT (6), SB-2/A (6), SCHEDULE 13G/A (6), 8-K/A (5), S-3 (5), 10-12G/A (4), 10KSB (4), 424B5 (4), REGDEX (4), S-8 (4), 10-12G (3), ARS (3), SC 13D/A (3), SCHEDULE 13G (3), 10-K/A (2), 8-A12B (2), CT ORDER (2), NT 10-Q (2), POS AM (2), RW (2), SB-2 (2), SC 13D (2), 25-NSE (1), 4/A (1), 5 (1), CERT (1), CERTAMX (1), NT 10-K (1), PRE 14A (1), S-1 (1), S-3/A (1), S-8 POS (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Mar 25, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) May 12, 2026
    Latest 8-K (8-K) Sep 25, 2026

Securities registered for trading

ClassSymbolExchange
common stock, par value $0.001 per shareDYAIThe NASDAQ Stock Market LLC

From the cover page of the 10-K filed Mar 25, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks DYADIC INTERNATIONAL INC names in Item 1A of its 10-K filed Mar 25, 2026: 47 risks under these headings, as written.3

  • Risks Related to Our Business and Financial Condition
  • We may not succeed in implementing our business strategy.
  • A significant portion of our revenue is derived from a small number of customers.
  • We have a history of net losses, and we may not achieve or maintain profitability.
  • We may expend our resources to pursue particular product candidates and fail to capitalize on product candidates that may be more profitable or for which there is a greater likelihood of success.
  • We could fail to manage our growth.
  • Our revenue growth depends in part on market and regulatory acceptance of our microbial protein production platforms and other technologies to develop and manufacture animal and/or human biopharmaceutical and non-pharmaceutical products.
  • We may fail to commercialize our microbial protein production platforms or other technologies for the expression of therapeutic proteins, antibodies, vaccines, and metabolites or other non-pharmaceutical biologic products.
  • If our competitors develop technologies and products more quickly and market more effectively than our product candidates, our commercial opportunity will be reduced or eliminated.
  • Alternative technologies may not require microbial or other cell produced proteins, such as our proprietary C1 cells.
  • The results of nonclinical studies and early-stage clinical trials may not be predictive of future results.
  • We may need substantial additional capital in the future to fund our business.
The other 36 risks
  • Changes in global economic and financial markets may have a negative effect on our business.
  • We face risks related to widespread outbreaks of contagious disease or other biological threats, any of which could significantly disrupt our operations and have a material adverse effect on our business, employees, directors, consultants, collaborators and other third parties, including business development activities and research and development projects conducted by third party contract research organizations parties.
  • Our sales and operations are subject to the risks of doing business internationally.
  • If we lose key personnel, including key management or board members, or are unable to attract and retain additional personnel, it could delay our technology and product development programs and harm our R&D efforts, and we may be unable to pursue research funding, licenses and other forms of collaborations or develop our own products.
  • Our product candidates may cause undesirable and unforeseen side effects or have other properties impacting safety that could halt their clinical development, delay or prevent their regulatory approval, limit their commercial potential or result in significant negative consequences.
  • We may be sued for product liability.
  • Foreign currency fluctuations could adversely affect our results.
  • Our ability to use our net operating loss carryforwards (“NOLs”) to offset future taxable income may be subject to certain limitations.
  • We may make acquisitions, investments and strategic alliances that may use significant resources, result in disruptions to our business or distractions of our management, may not proceed as planned, and could expose us to unforeseen liabilities.
  • We rely significantly on information technology and any failure, inadequacy, interruption or security lapse of that technology, including any cybersecurity incidents, could harm our ability to operate our business effectively.
  • The use of new and evolving technologies, such as artificial intelligence (“AI”), in our business may result in reputational harm, competitive harm or legal liability.
  • Changes to our outsourced software or infrastructure vendors as well as any sudden loss, breach of security, disruption or unexpected data or vendor loss associated with our information technology systems could have a material adverse effect on our business.
  • Risks Related to Dependence on Third Parties
  • We are dependent on collaborations with third parties, and if we fail to maintain or successfully manage existing, or enter into new, strategic collaborations, we may not be able to develop and commercialize many of our technologies and products and achieve profitability.
  • We have limited or no control over the resources that any collaborator or licensee may devote to our programs, and reductions in collaborators’ R&D budgets may affect our businesses.
  • We heavily rely on contracts with third-party CROs and other third-party service providers across all aspects of our business, including to conduct our research and development, pre-clinical, CMC and cGMP manufacturing, fill and finish, and potential clinical trials, which may not be available to the Company on commercially reasonable terms or at all.
  • Conflicts with the CROs, other service providers, collaborators and/or licensees could harm our business.
  • We rely on our collaborators and other third parties to deliver timely and accurate information in order to accurately report our financial results as required by law.
  • Risks Related to Government Regulations and Sustainability Issues
  • Potential future regulations limiting our ability to sell genetically engineered products could harm our business.
  • Our employees and independent contractors, including principal investigators, CROs, CDMOs, consultants, vendors, and other service providers, may engage in misconduct or other improper activities, including noncompliance with applicable laws, regulations, and our internal policies and procedures.
  • Public views on ethical and social issues may limit use of our technologies.
  • Our results of operations may be adversely affected by environmental, health and safety laws, regulations and liabilities.
  • Increasing scrutiny and changing expectations from customers, regulators, investors, and other stakeholders with respect to our sustainability practices may impose additional costs on us or expose us to new or additional risks.
  • We have no experience submitting applications to the FDA or similar regulatory authorities in the past and may not be able to obtain regulatory approval or may be subject to lengthy and/or unfavorable regulatory proceedings.
  • Risks Relating to Intellectual Property
  • Failure to protect our intellectual property and the intellectual property of certain third parties could harm our competitive position.
  • Litigation or other proceedings or third-party claims of intellectual property infringement could require us to spend significant time and resources and could prevent us and our collaborators from commercializing our or their technologies and products or negatively impact our stock price.
  • Confidentiality agreements with employees and others may not adequately prevent disclosures of trade secrets and other proprietary information.
  • Risks Related to Our Common Stock
  • The price of our shares of common stock is likely to be volatile, and you could lose all or part of your investment.
  • Our quarterly and annual operating results may be volatile.
  • We do not expect to pay cash dividends in the future.
  • Our anti-takeover defense provisions may deter potential acquirers and depress our stock price.
  • Concentration of ownership among our existing officers, directors and principal stockholders may prevent other stockholders from influencing significant corporate decisions and depress our stock price.
  • Future resales of shares of our common stock may negatively affect our stock price.
  • The Company is exposed to credit risk and fluctuations in the values of its investment portfolio.
  • We are a smaller reporting company, and the reduced disclosure requirements applicable to smaller reporting companies may make our common stock less attractive to investors.
  • If securities or industry analysts do not publish research or reports about our business, or if they issue adverse or misleading research or reports regarding us, our business or our market, our stock price and trading volume could decline.
  • If we fail to comply with listing standards of the Nasdaq Stock Market LLC (“Nasdaq”), our common stock may be delisted, adversely affecting the liquidity and market price of our common stock, as well as our ability to obtain sufficient additional capital to fund our operations and to continue to operate as a going concern.

Legal proceedings

From time to time, the Company is subject to legal proceedings, asserted claims and investigations in the ordinary course of business, including commercial claims, employment and other matters, which management considers immaterial, individually and in the aggregate. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are not currently involved in any litigation that we believe could have a materially adverse effect on our financial condition or results of operations. For more information, see Note 4 to the Consolidated Financial Statements. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our Company or any of our subsidiaries, threatened against or affecting our Company, our common stock, any of our subsidiaries or of our Company’s or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.

The opening of Item 3, Legal Proceedings.3

Sources

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