Dyadic International, Inc. (DYAI) 10-Year Financial Performance & Capital Metrics

DYAI • • Industrial / General

HealthcareBiotechnologyPlatform & Technology CompaniesAntibody Discovery Platforms

AboutDyadic International, Inc., a biotechnology platform company, develops, produces, and sells enzymes and other proteins in the United States. The company utilizes its patented and proprietary C1 platform and other technologies to conduct research, development, and commercial activities for the development and manufacturing of human and animal vaccines and drugs, such as virus like particles and antigens, monoclonal antibodies, bi/tri-specific antibodies, fab antibody fragments, Fc-fusion proteins, biosimilars and/or biobetters, and other therapeutic enzymes and proteins. It offers DYAI-100, SARS-CoV-2-RBD antigen vaccine candidate towards a first-in-human Phase 1 clinical trial, is to validate to serve as proof of concept for the development of next generation multivariant COVID-19 vaccine candidates. The company has a research and development agreement with VTT Technical Research Centre of Finland, Ltd.; strategic research services agreement with Biotechnology Developments for Industry in Pharmaceuticals, S.L.U.; and collaboration with Syngene International Limited. Dyadic International, Inc. was founded in 1979 and is headquartered in Jupiter, Florida.Show more

Revenue $3M +20.6%
EBITDA -$5M +34.3%
Net Income -$6M +14.5%
EPS (Diluted) -0.20 +16.7%
Gross Margin 65.82% +106.7%
EBITDA Margin -153.95% +45.5%
Operating Margin -168.82% +40.5%
Net Margin -166.19% +29.1%
ROE -139.16% -73.7%
ROIC -1669.28% -548.3%
Debt/Equity 2.05 +8704.6%
Interest Coverage -13.79

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.8%

✗Weaknesses

✗High debt to equity ratio of 2.1x
✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 10.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-11.98%

5Y15.77%

3Y13.29%

TTM-21.88%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-16.08%

EPS CAGR

10Y-

5Y-

3Y-

TTM-10.08%

ROCE

10Y Avg-41.62%

5Y Avg-68.92%

3Y Avg-83.67%

Latest-87.75%

Peer Comparison

Antibody Discovery Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NAGENiagen Bioscience Inc	503.58M	6.31	57.36	19.18%	16.38%	28.91%	2.37%	0.06
BTXBlackRock Technology and Private Equity Term Trust	808.8M	6.93	40.76	-81.13%	87.75%	1.87%	34.27%
HALOHalozyme Therapeutics, Inc.	8.45B	71.82	20.94	22.44%	47.91%	118.17%	5.55%	4.14
RPRXRoyalty Pharma plc	16.97B	39.72	20.80	-3.86%	32.55%	7.95%	16.32%	0.74
REGNRegeneron Pharmaceuticals, Inc.	76.63B	741.92	19.35	8.27%	32.13%	14.79%	4.78%	0.09
GMABGenmab A/S	20.85B	33.85	2.79	30.67%	46.8%	114.25%	36.37%	0.03
DNAGinkgo Bioworks Holdings, Inc.	464.86M	9.58	-0.91	-9.71%	-188%	-60.66%		0.65
PRMEPrime Medicine, Inc.	720.24M	3.99	-2.42		-33.02%	-121.95%		0.27

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	315.71K	592.89K	758.42K	1.3M	1.68M	1.6M	2.4M	2.93M	2.9M	3.5M
Revenue Growth %	-0.97%	0.88%	0.28%	0.71%	0.3%	-0.05%	0.5%	0.22%	-0.01%	0.21%
Cost of Goods Sold+	124.01K	516.16K	680.2K	1.03M	1.46M	1.42M	1.94M	2.12M	1.98M	1.19M
COGS % of Revenue	0.39%	0.87%	0.9%	0.79%	0.87%	0.89%	0.81%	0.72%	0.68%	0.34%
Gross Profit+	191.7K	76.72K	78.22K	268.17K	221.38K	176.99K	459.39K	807.11K	922.96K	2.3M
Gross Margin %	0.61%	0.13%	0.1%	0.21%	0.13%	0.11%	0.19%	0.28%	0.32%	0.66%
Gross Profit Growth %	-0.96%	-0.6%	0.02%	2.43%	-0.17%	-0.2%	1.6%	0.76%	0.14%	1.49%
Operating Expenses+	3.84M	5.88M	7.45M	7.84M	9.5M	10.2M	15.19M	10.97M	9.15M	8.2M
OpEx % of Revenue	12.16%	9.93%	9.83%	6.05%	5.65%	6.37%	6.32%	3.74%	3.16%	2.35%
Selling, General & Admin	3.84M	4.56M	5.03M	4.52M	5.52M	6.08M	6.7M	6.42M	5.82M	6.13M
SG&A % of Revenue	12.16%	7.69%	6.63%	3.49%	3.28%	3.8%	2.79%	2.19%	2.01%	1.76%
Research & Development	124.01K	885.6K	2.2M	3.32M	5.42M	3.87M	8.39M	4.5M	3.3M	2.04M
R&D % of Revenue	0.39%	1.49%	2.9%	2.56%	3.22%	2.41%	3.49%	1.54%	1.14%	0.58%
Other Operating Expenses	0	436.92K	220.72K	0	-1.43M	249.73K	96.89K	49.92K	38.42K	22.56K
Operating Income+	-3.65M	-5.96M	-7.13M	-7.59M	-9.28M	-10.03M	-14.73M	-10.17M	-8.23M	-5.9M
Operating Margin %	-11.55%	-10.04%	-9.4%	-5.86%	-5.52%	-6.26%	-6.13%	-3.47%	-2.84%	-1.69%
Operating Income Growth %	0.32%	-0.63%	-0.2%	-0.07%	-0.22%	-0.08%	-0.47%	0.31%	0.19%	0.28%
EBITDA+	-5.82M	-147.34K	249.06K	-188.78K	-27.73K	-9.96M	-11.24M	-10.12M	-8.19M	-5.38M
EBITDA Margin %	-18.42%	-0.25%	0.33%	-0.15%	-0.02%	-6.22%	-4.67%	-3.45%	-2.83%	-1.54%
EBITDA Growth %	-0.15%	0.97%	2.69%	-1.76%	0.85%	-358.36%	-0.13%	0.1%	0.19%	0.34%
D&A (Non-Cash Add-back)	-2.17M	5.81M	7.38M	7.4M	9.25M	0	3.49M	0	38.42K	0
EBIT	-1.47M	-5.81M	-7.38M	-7.57M	-9.25M	-9.96M	-14.63M	-10.12M	-8.19M	-5.38M
Net Interest Income+	11.16K	484.58K	566.15K	894.53K	984.93K	447K	51.7K	180.42K	416.69K	29.02K
Interest Income	11.16K	485.49K	0	0	984.93K	447K	51.7K	180.42K	416.69K	456.99K
Interest Expense	0	909	566.15K	894.53K	0	0	0	0	0	427.97K
Other Income/Expense	2.18M	2.58M	4.92M	894.53K	984.93K	731.71K	1.66M	430.42K	1.43M	91.66K
Pretax Income+	-1.47M	-3.37M	-2.2M	-6.7M	-8.3M	-9.29M	-13.07M	-9.74M	-6.8M	-5.81M
Pretax Margin %	-4.64%	-5.69%	-2.9%	-5.17%	-4.94%	-5.8%	-5.44%	-3.32%	-2.34%	-1.66%
Income Tax+	0	238.07K	-66.69K	-1.01M	10.31K	31.32K	0	0	0	0
Effective Tax Rate %	-44.9%	1.07%	0.97%	0.85%	1%	1%	1%	1%	1%	1%
Net Income+	65.79M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Net Margin %	208.38%	-6.09%	-2.82%	-4.39%	-4.94%	-5.82%	-5.44%	-3.32%	-2.34%	-1.66%
Net Income Growth %	12%	-1.05%	0.41%	-1.66%	-0.46%	-0.12%	-0.4%	0.26%	0.3%	0.15%
Net Income (Continuing)	-1.47M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Discontinued Operations	67.25M	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.91	-0.10	-0.07	-0.21	-0.31	-0.34	-0.47	-0.34	-0.24	-0.20
EPS Growth %	11.61%	-1.05%	0.25%	-1.84%	-0.48%	-0.1%	-0.38%	0.28%	0.29%	0.17%
EPS (Basic)	1.91	-0.10	-0.07	-0.21	-0.31	-0.34	-0.47	-0.34	-0.24	-0.20
Diluted Shares Outstanding	34.37M	36.54M	28.92M	27.67M	27M	27.47M	27.84M	28.36M	28.8M	29.32M
Basic Shares Outstanding	34.37M	36.54M	28.92M	27.67M	27M	27.47M	27.84M	28.36M	28.8M	29.32M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	69.17M	57.63M	49.62M	42.75M	35.64M	29.78M	21.01M	13.42M	8.07M	9.83M
Cash & Short-Term Investments	68.6M	48.94M	47.69M	41.2M	34.22M	29.09M	20.26M	12.64M	7.26M	9.26M
Cash Only	68.6M	6.89M	5.79M	2.39M	4.82M	20.64M	15.75M	5.79M	6.52M	6.51M
Short-Term Investments	0	42.05M	41.9M	38.82M	29.4M	8.46M	4.51M	6.85M	748.29K	2.76M
Accounts Receivable	78.95K	1.08M	760.87K	1.12M	1.14M	294.2K	372.21K	330K	466.16K	237.03K
Days Sales Outstanding	91.28	665.72	366.18	315.52	247.21	67.03	56.52	41.11	58.7	24.75
Inventory	0	7.36M	1.02M	253.45K	0	0	0	0	0	0
Days Inventory Outstanding	-	5.21K	544.76	90.05	-	-	-	-	-	-
Other Current Assets	297.25K	0	0	0	0	112.25K	0	58.28K	10.08K	24.25K
Total Non-Current Assets+	7.5M	1.07M	1.13M	552.75K	1.81M	290.93K	290.83K	290.75K	151.9K	102.61K
Property, Plant & Equipment	0	0	0	0	0	0	0	0	141.44K	92.21K
Fixed Asset Turnover	-	-	-	-	-	-	-	-	20.50x	37.91x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	7.4M	1.07M	922.65K	500.62K	1.76M	284.71K	284.71K	284.71K	0	0
Other Non-Current Assets	94.78K	5.85K	205.74K	52.14K	51.31K	6.22K	6.12K	6.04K	10.46K	10.4K
Total Assets+	76.67M	58.7M	50.74M	43.3M	37.45M	30.07M	21.3M	13.71M	8.22M	9.93M
Asset Turnover	0.00x	0.01x	0.01x	0.03x	0.04x	0.05x	0.11x	0.21x	0.35x	0.35x
Asset Growth %	7.98%	-0.23%	-0.14%	-0.15%	-0.14%	-0.2%	-0.29%	-0.36%	-0.4%	0.21%
Total Current Liabilities+	2.87M	1.01M	768.89K	849.64K	1.59M	1.63M	2.56M	2.45M	2.25M	2.45M
Accounts Payable	630.23K	279.06K	520.26K	309.06K	793K	1.01M	1.55M	1.28M	656.45K	482.32K
Days Payables Outstanding	1.85K	197.33	279.18	109.81	198.29	259.51	290.57	219.41	121.27	147.37
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	129.02K	216.32K	0	141K	78.64K	0	147.06K	0	0	0
Other Current Liabilities	146.18K	515.56K	100.67K	141K	242K	123.02K	151.15K	217.21K	490.11K	833.81K
Current Ratio	24.08x	57.04x	64.53x	50.31x	22.44x	18.32x	8.22x	5.48x	3.58x	4.01x
Quick Ratio	24.08x	49.75x	63.21x	50.01x	22.44x	18.32x	8.22x	5.48x	3.58x	4.01x
Cash Conversion Cycle	-	5.68K	631.76	295.76	-	-	-	-	-	-
Total Non-Current Liabilities+	630.23K	495.38K	520.26K	309.06K	0	0	352.94K	176.47K	88.87K	5.01M
Long-Term Debt	0	0	0	0	0	0	0	0	0	4.98M
Capital Lease Obligations	0	0	0	0	0	0	0	0	88.87K	34.62K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	176.47K	0	0
Total Liabilities	2.87M	1.01M	768.89K	849.64K	1.59M	1.63M	2.91M	2.63M	2.34M	7.46M
Total Debt+	0	0	0	0	0	0	0	0	136.93K	5.07M
Net Debt	-68.6M	-6.89M	-5.79M	-2.39M	-4.82M	-20.64M	-15.75M	-5.79M	-6.38M	-1.44M
Debt / Equity	-	-	-	-	-	-	-	-	0.02x	2.05x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-23.23x	-	-	-	-	-	-	-
Interest Coverage	-	-6551.43x	-12.59x	-8.49x	-	-	-	-	-	-13.79x
Total Equity+	73.79M	57.69M	49.98M	42.45M	35.86M	28.45M	18.39M	11.09M	5.88M	2.47M
Equity Growth %	33.58%	-0.22%	-0.13%	-0.15%	-0.16%	-0.21%	-0.35%	-0.4%	-0.47%	-0.58%
Book Value per Share	2.15	1.58	1.73	1.53	1.33	1.04	0.66	0.39	0.20	0.08
Total Shareholders' Equity	73.79M	57.69M	49.98M	42.45M	35.86M	28.45M	18.39M	11.09M	5.88M	2.47M
Common Stock	40.3K	38.93K	38.94K	38.97K	39.61K	39.75K	40.48K	40.82K	41.06K	42.09K
Retained Earnings	-18.71M	-25.2M	-27.35M	-33.04M	-41.35M	-50.68M	-63.75M	-73.48M	-80.28M	-86.09M
Treasury Stock	0	-10.4M	-16.63M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M
Accumulated OCI	350.55K	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-802.67K	-6.04M	-2.61M	-4.41M	-5.78M	-6.57M	-11.28M	-8.08M	-6.73M	-3.97M
Operating CF Margin %	-2.54%	-10.18%	-3.44%	-3.4%	-3.44%	-4.1%	-4.69%	-2.76%	-2.32%	-1.14%
Operating CF Growth %	0.87%	-6.52%	0.57%	-0.69%	-0.31%	-0.14%	-0.72%	0.28%	0.17%	0.41%
Net Income	65.79M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Depreciation & Amortization	0	0	0	676.64K	0	0	0	0	0	0
Stock-Based Compensation	1.11M	624.81K	643.43K	467.2K	0	0	1.78M	1.89M	1.24M	0
Deferred Taxes	0	0	0	-676.64K	0	0	0	0	0	0
Other Non-Cash Items	-69.27M	-359.59K	-273.09K	697.42K	1.4M	1.76M	-1.18M	83.71K	-1.03M	1.08M
Working Capital Changes	1.57M	-2.69M	-840.78K	119.94K	1.13M	990.08K	1.19M	-321.17K	-143.21K	754.53K
Change in Receivables	-78.95K	-513.47K	333.02K	-59.98K	218.62K	1.08M	-13.92K	-47.17K	-93.13K	205.26K
Change in Inventory	1.44M	-1.96M	-1.21M	234.68K	0	0	0	0	0	0
Change in Payables	134.25K	-339.74K	207.43K	-195.75K	657.66K	-53.2K	549.56K	-248.13K	-651.17K	-180.18K
Cash from Investing+	66.83M	-42.56M	103K	3.33M	7.71M	22.12M	5.22M	-2.37M	7.45M	-1.88M
Capital Expenditures	0	0	0	0	0	0	0	0	0	0
CapEx % of Revenue	-	-	-	-	0%	0%	-	-	-	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-165.52K	-42.56M	-812.08K	3.33M	0	0	0	0	0	0
Cash from Financing+	73.88K	-13.12M	-6.22M	-2.3M	550.19K	255.47K	1.23M	543.59K	0	5.85M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	90.75K	66.13K	1.44K	4.5K	0	0	1.23M	543.59K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-802.67K	-6.04M	-2.61M	-4.41M	-5.78M	-6.57M	-11.28M	-8.08M	-6.73M	-3.97M
FCF Margin %	-2.54%	-10.18%	-3.44%	-3.4%	-3.44%	-4.1%	-4.69%	-2.76%	-2.32%	-1.14%
FCF Growth %	0.88%	-6.52%	0.57%	-0.69%	-0.31%	-0.14%	-0.72%	0.28%	0.17%	0.41%
FCF per Share	-0.02	-0.17	-0.09	-0.16	-0.21	-0.24	-0.41	-0.28	-0.23	-0.14
FCF Conversion (FCF/Net Income)	-0.01x	1.67x	1.22x	0.77x	0.70x	0.71x	0.86x	0.83x	0.99x	0.68x
Interest Paid	835.21K	909	0	0	0	0	0	0	0	0
Taxes Paid	1.31M	11.5K	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	183.94%	-5.49%	-3.97%	-12.32%	-21.22%	-29%	-55.81%	-66.05%	-80.11%	-139.16%
Return on Invested Capital (ROIC)	-63.83%	-15.95%	-11.25%	-13.52%	-19.58%	-38.71%	-211.37%	-192.16%	-257.5%	-1669.28%
Gross Margin	60.72%	12.94%	10.31%	20.7%	13.17%	11.05%	19.11%	27.54%	31.84%	65.82%
Net Margin	20837.76%	-608.67%	-281.61%	-439.36%	-494.21%	-582.13%	-543.73%	-332.23%	-234.42%	-166.19%
Debt / Equity	-	-	-	-	-	-	-	-	0.02x	2.05x
Interest Coverage	-	-6551.43x	-12.59x	-8.49x	-	-	-	-	-	-13.79x
FCF Conversion	-0.01x	1.67x	1.22x	0.77x	0.70x	0.71x	0.86x	0.83x	0.99x	0.68x
Revenue Growth	-97.48%	87.79%	27.92%	70.81%	29.77%	-4.71%	50.06%	21.9%	-1.07%	20.58%

Revenue by Segment

	2022	2023	2024
License	247.06K	352.94K	1.89M
License Growth	-	42.86%	435.55%
Research and Development	2.68M	2.55M	1.61M
Research and Development Growth	-	-5.12%	-36.95%

Frequently Asked Questions

Growth & Financials

Dyadic International, Inc. (DYAI) reported $2.6M in revenue for fiscal year 2024. This represents a 83% decrease from $15.4M in 2006.

Dyadic International, Inc. (DYAI) grew revenue by 20.6% over the past year. This is strong growth.

Dyadic International, Inc. (DYAI) reported a net loss of $7.3M for fiscal year 2024.

Dividend & Returns

Dyadic International, Inc. (DYAI) has a return on equity (ROE) of -139.2%. Negative ROE indicates the company is unprofitable.

Dyadic International, Inc. (DYAI) had negative free cash flow of $4.6M in fiscal year 2024, likely due to heavy capital investments.

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Dyadic International, Inc. (DYAI) 10-Year Financial Performance & Capital Metrics

DYAI • • Industrial / General

HealthcareBiotechnologyPlatform & Technology CompaniesAntibody Discovery Platforms

Revenue $3M +20.6%
EBITDA -$5M +34.3%
Net Income -$6M +14.5%
EPS (Diluted) -0.20 +16.7%
Gross Margin 65.82% +106.7%
EBITDA Margin -153.95% +45.5%
Operating Margin -168.82% +40.5%
Net Margin -166.19% +29.1%
ROE -139.16% -73.7%
ROIC -1669.28% -548.3%
Debt/Equity 2.05 +8704.6%
Interest Coverage -13.79

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 15.8%

✗Weaknesses

✗High debt to equity ratio of 2.1x
✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 10.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-11.98%

5Y15.77%

3Y13.29%

TTM-21.88%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-16.08%

EPS CAGR

10Y-

5Y-

3Y-

TTM-10.08%

ROCE

10Y Avg-41.62%

5Y Avg-68.92%

3Y Avg-83.67%

Latest-87.75%

Peer Comparison

Antibody Discovery Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NAGENiagen Bioscience Inc	503.58M	6.31	57.36	19.18%	16.38%	28.91%	2.37%	0.06
BTXBlackRock Technology and Private Equity Term Trust	808.8M	6.93	40.76	-81.13%	87.75%	1.87%	34.27%
HALOHalozyme Therapeutics, Inc.	8.45B	71.82	20.94	22.44%	47.91%	118.17%	5.55%	4.14
RPRXRoyalty Pharma plc	16.97B	39.72	20.80	-3.86%	32.55%	7.95%	16.32%	0.74
REGNRegeneron Pharmaceuticals, Inc.	76.63B	741.92	19.35	8.27%	32.13%	14.79%	4.78%	0.09
GMABGenmab A/S	20.85B	33.85	2.79	30.67%	46.8%	114.25%	36.37%	0.03
DNAGinkgo Bioworks Holdings, Inc.	464.86M	9.58	-0.91	-9.71%	-188%	-60.66%		0.65
PRMEPrime Medicine, Inc.	720.24M	3.99	-2.42		-33.02%	-121.95%		0.27

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	315.71K	592.89K	758.42K	1.3M	1.68M	1.6M	2.4M	2.93M	2.9M	3.5M
Revenue Growth %	-0.97%	0.88%	0.28%	0.71%	0.3%	-0.05%	0.5%	0.22%	-0.01%	0.21%
Cost of Goods Sold+	124.01K	516.16K	680.2K	1.03M	1.46M	1.42M	1.94M	2.12M	1.98M	1.19M
COGS % of Revenue	0.39%	0.87%	0.9%	0.79%	0.87%	0.89%	0.81%	0.72%	0.68%	0.34%
Gross Profit+	191.7K	76.72K	78.22K	268.17K	221.38K	176.99K	459.39K	807.11K	922.96K	2.3M
Gross Margin %	0.61%	0.13%	0.1%	0.21%	0.13%	0.11%	0.19%	0.28%	0.32%	0.66%
Gross Profit Growth %	-0.96%	-0.6%	0.02%	2.43%	-0.17%	-0.2%	1.6%	0.76%	0.14%	1.49%
Operating Expenses+	3.84M	5.88M	7.45M	7.84M	9.5M	10.2M	15.19M	10.97M	9.15M	8.2M
OpEx % of Revenue	12.16%	9.93%	9.83%	6.05%	5.65%	6.37%	6.32%	3.74%	3.16%	2.35%
Selling, General & Admin	3.84M	4.56M	5.03M	4.52M	5.52M	6.08M	6.7M	6.42M	5.82M	6.13M
SG&A % of Revenue	12.16%	7.69%	6.63%	3.49%	3.28%	3.8%	2.79%	2.19%	2.01%	1.76%
Research & Development	124.01K	885.6K	2.2M	3.32M	5.42M	3.87M	8.39M	4.5M	3.3M	2.04M
R&D % of Revenue	0.39%	1.49%	2.9%	2.56%	3.22%	2.41%	3.49%	1.54%	1.14%	0.58%
Other Operating Expenses	0	436.92K	220.72K	0	-1.43M	249.73K	96.89K	49.92K	38.42K	22.56K
Operating Income+	-3.65M	-5.96M	-7.13M	-7.59M	-9.28M	-10.03M	-14.73M	-10.17M	-8.23M	-5.9M
Operating Margin %	-11.55%	-10.04%	-9.4%	-5.86%	-5.52%	-6.26%	-6.13%	-3.47%	-2.84%	-1.69%
Operating Income Growth %	0.32%	-0.63%	-0.2%	-0.07%	-0.22%	-0.08%	-0.47%	0.31%	0.19%	0.28%
EBITDA+	-5.82M	-147.34K	249.06K	-188.78K	-27.73K	-9.96M	-11.24M	-10.12M	-8.19M	-5.38M
EBITDA Margin %	-18.42%	-0.25%	0.33%	-0.15%	-0.02%	-6.22%	-4.67%	-3.45%	-2.83%	-1.54%
EBITDA Growth %	-0.15%	0.97%	2.69%	-1.76%	0.85%	-358.36%	-0.13%	0.1%	0.19%	0.34%
D&A (Non-Cash Add-back)	-2.17M	5.81M	7.38M	7.4M	9.25M	0	3.49M	0	38.42K	0
EBIT	-1.47M	-5.81M	-7.38M	-7.57M	-9.25M	-9.96M	-14.63M	-10.12M	-8.19M	-5.38M
Net Interest Income+	11.16K	484.58K	566.15K	894.53K	984.93K	447K	51.7K	180.42K	416.69K	29.02K
Interest Income	11.16K	485.49K	0	0	984.93K	447K	51.7K	180.42K	416.69K	456.99K
Interest Expense	0	909	566.15K	894.53K	0	0	0	0	0	427.97K
Other Income/Expense	2.18M	2.58M	4.92M	894.53K	984.93K	731.71K	1.66M	430.42K	1.43M	91.66K
Pretax Income+	-1.47M	-3.37M	-2.2M	-6.7M	-8.3M	-9.29M	-13.07M	-9.74M	-6.8M	-5.81M
Pretax Margin %	-4.64%	-5.69%	-2.9%	-5.17%	-4.94%	-5.8%	-5.44%	-3.32%	-2.34%	-1.66%
Income Tax+	0	238.07K	-66.69K	-1.01M	10.31K	31.32K	0	0	0	0
Effective Tax Rate %	-44.9%	1.07%	0.97%	0.85%	1%	1%	1%	1%	1%	1%
Net Income+	65.79M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Net Margin %	208.38%	-6.09%	-2.82%	-4.39%	-4.94%	-5.82%	-5.44%	-3.32%	-2.34%	-1.66%
Net Income Growth %	12%	-1.05%	0.41%	-1.66%	-0.46%	-0.12%	-0.4%	0.26%	0.3%	0.15%
Net Income (Continuing)	-1.47M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Discontinued Operations	67.25M	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.91	-0.10	-0.07	-0.21	-0.31	-0.34	-0.47	-0.34	-0.24	-0.20
EPS Growth %	11.61%	-1.05%	0.25%	-1.84%	-0.48%	-0.1%	-0.38%	0.28%	0.29%	0.17%
EPS (Basic)	1.91	-0.10	-0.07	-0.21	-0.31	-0.34	-0.47	-0.34	-0.24	-0.20
Diluted Shares Outstanding	34.37M	36.54M	28.92M	27.67M	27M	27.47M	27.84M	28.36M	28.8M	29.32M
Basic Shares Outstanding	34.37M	36.54M	28.92M	27.67M	27M	27.47M	27.84M	28.36M	28.8M	29.32M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	69.17M	57.63M	49.62M	42.75M	35.64M	29.78M	21.01M	13.42M	8.07M	9.83M
Cash & Short-Term Investments	68.6M	48.94M	47.69M	41.2M	34.22M	29.09M	20.26M	12.64M	7.26M	9.26M
Cash Only	68.6M	6.89M	5.79M	2.39M	4.82M	20.64M	15.75M	5.79M	6.52M	6.51M
Short-Term Investments	0	42.05M	41.9M	38.82M	29.4M	8.46M	4.51M	6.85M	748.29K	2.76M
Accounts Receivable	78.95K	1.08M	760.87K	1.12M	1.14M	294.2K	372.21K	330K	466.16K	237.03K
Days Sales Outstanding	91.28	665.72	366.18	315.52	247.21	67.03	56.52	41.11	58.7	24.75
Inventory	0	7.36M	1.02M	253.45K	0	0	0	0	0	0
Days Inventory Outstanding	-	5.21K	544.76	90.05	-	-	-	-	-	-
Other Current Assets	297.25K	0	0	0	0	112.25K	0	58.28K	10.08K	24.25K
Total Non-Current Assets+	7.5M	1.07M	1.13M	552.75K	1.81M	290.93K	290.83K	290.75K	151.9K	102.61K
Property, Plant & Equipment	0	0	0	0	0	0	0	0	141.44K	92.21K
Fixed Asset Turnover	-	-	-	-	-	-	-	-	20.50x	37.91x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	7.4M	1.07M	922.65K	500.62K	1.76M	284.71K	284.71K	284.71K	0	0
Other Non-Current Assets	94.78K	5.85K	205.74K	52.14K	51.31K	6.22K	6.12K	6.04K	10.46K	10.4K
Total Assets+	76.67M	58.7M	50.74M	43.3M	37.45M	30.07M	21.3M	13.71M	8.22M	9.93M
Asset Turnover	0.00x	0.01x	0.01x	0.03x	0.04x	0.05x	0.11x	0.21x	0.35x	0.35x
Asset Growth %	7.98%	-0.23%	-0.14%	-0.15%	-0.14%	-0.2%	-0.29%	-0.36%	-0.4%	0.21%
Total Current Liabilities+	2.87M	1.01M	768.89K	849.64K	1.59M	1.63M	2.56M	2.45M	2.25M	2.45M
Accounts Payable	630.23K	279.06K	520.26K	309.06K	793K	1.01M	1.55M	1.28M	656.45K	482.32K
Days Payables Outstanding	1.85K	197.33	279.18	109.81	198.29	259.51	290.57	219.41	121.27	147.37
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	129.02K	216.32K	0	141K	78.64K	0	147.06K	0	0	0
Other Current Liabilities	146.18K	515.56K	100.67K	141K	242K	123.02K	151.15K	217.21K	490.11K	833.81K
Current Ratio	24.08x	57.04x	64.53x	50.31x	22.44x	18.32x	8.22x	5.48x	3.58x	4.01x
Quick Ratio	24.08x	49.75x	63.21x	50.01x	22.44x	18.32x	8.22x	5.48x	3.58x	4.01x
Cash Conversion Cycle	-	5.68K	631.76	295.76	-	-	-	-	-	-
Total Non-Current Liabilities+	630.23K	495.38K	520.26K	309.06K	0	0	352.94K	176.47K	88.87K	5.01M
Long-Term Debt	0	0	0	0	0	0	0	0	0	4.98M
Capital Lease Obligations	0	0	0	0	0	0	0	0	88.87K	34.62K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	176.47K	0	0
Total Liabilities	2.87M	1.01M	768.89K	849.64K	1.59M	1.63M	2.91M	2.63M	2.34M	7.46M
Total Debt+	0	0	0	0	0	0	0	0	136.93K	5.07M
Net Debt	-68.6M	-6.89M	-5.79M	-2.39M	-4.82M	-20.64M	-15.75M	-5.79M	-6.38M	-1.44M
Debt / Equity	-	-	-	-	-	-	-	-	0.02x	2.05x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-23.23x	-	-	-	-	-	-	-
Interest Coverage	-	-6551.43x	-12.59x	-8.49x	-	-	-	-	-	-13.79x
Total Equity+	73.79M	57.69M	49.98M	42.45M	35.86M	28.45M	18.39M	11.09M	5.88M	2.47M
Equity Growth %	33.58%	-0.22%	-0.13%	-0.15%	-0.16%	-0.21%	-0.35%	-0.4%	-0.47%	-0.58%
Book Value per Share	2.15	1.58	1.73	1.53	1.33	1.04	0.66	0.39	0.20	0.08
Total Shareholders' Equity	73.79M	57.69M	49.98M	42.45M	35.86M	28.45M	18.39M	11.09M	5.88M	2.47M
Common Stock	40.3K	38.93K	38.94K	38.97K	39.61K	39.75K	40.48K	40.82K	41.06K	42.09K
Retained Earnings	-18.71M	-25.2M	-27.35M	-33.04M	-41.35M	-50.68M	-63.75M	-73.48M	-80.28M	-86.09M
Treasury Stock	0	-10.4M	-16.63M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M	-18.93M
Accumulated OCI	350.55K	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-802.67K	-6.04M	-2.61M	-4.41M	-5.78M	-6.57M	-11.28M	-8.08M	-6.73M	-3.97M
Operating CF Margin %	-2.54%	-10.18%	-3.44%	-3.4%	-3.44%	-4.1%	-4.69%	-2.76%	-2.32%	-1.14%
Operating CF Growth %	0.87%	-6.52%	0.57%	-0.69%	-0.31%	-0.14%	-0.72%	0.28%	0.17%	0.41%
Net Income	65.79M	-3.61M	-2.14M	-5.69M	-8.31M	-9.33M	-13.07M	-9.74M	-6.8M	-5.81M
Depreciation & Amortization	0	0	0	676.64K	0	0	0	0	0	0
Stock-Based Compensation	1.11M	624.81K	643.43K	467.2K	0	0	1.78M	1.89M	1.24M	0
Deferred Taxes	0	0	0	-676.64K	0	0	0	0	0	0
Other Non-Cash Items	-69.27M	-359.59K	-273.09K	697.42K	1.4M	1.76M	-1.18M	83.71K	-1.03M	1.08M
Working Capital Changes	1.57M	-2.69M	-840.78K	119.94K	1.13M	990.08K	1.19M	-321.17K	-143.21K	754.53K
Change in Receivables	-78.95K	-513.47K	333.02K	-59.98K	218.62K	1.08M	-13.92K	-47.17K	-93.13K	205.26K
Change in Inventory	1.44M	-1.96M	-1.21M	234.68K	0	0	0	0	0	0
Change in Payables	134.25K	-339.74K	207.43K	-195.75K	657.66K	-53.2K	549.56K	-248.13K	-651.17K	-180.18K
Cash from Investing+	66.83M	-42.56M	103K	3.33M	7.71M	22.12M	5.22M	-2.37M	7.45M	-1.88M
Capital Expenditures	0	0	0	0	0	0	0	0	0	0
CapEx % of Revenue	-	-	-	-	0%	0%	-	-	-	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-165.52K	-42.56M	-812.08K	3.33M	0	0	0	0	0	0
Cash from Financing+	73.88K	-13.12M	-6.22M	-2.3M	550.19K	255.47K	1.23M	543.59K	0	5.85M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	90.75K	66.13K	1.44K	4.5K	0	0	1.23M	543.59K	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-802.67K	-6.04M	-2.61M	-4.41M	-5.78M	-6.57M	-11.28M	-8.08M	-6.73M	-3.97M
FCF Margin %	-2.54%	-10.18%	-3.44%	-3.4%	-3.44%	-4.1%	-4.69%	-2.76%	-2.32%	-1.14%
FCF Growth %	0.88%	-6.52%	0.57%	-0.69%	-0.31%	-0.14%	-0.72%	0.28%	0.17%	0.41%
FCF per Share	-0.02	-0.17	-0.09	-0.16	-0.21	-0.24	-0.41	-0.28	-0.23	-0.14
FCF Conversion (FCF/Net Income)	-0.01x	1.67x	1.22x	0.77x	0.70x	0.71x	0.86x	0.83x	0.99x	0.68x
Interest Paid	835.21K	909	0	0	0	0	0	0	0	0
Taxes Paid	1.31M	11.5K	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	183.94%	-5.49%	-3.97%	-12.32%	-21.22%	-29%	-55.81%	-66.05%	-80.11%	-139.16%
Return on Invested Capital (ROIC)	-63.83%	-15.95%	-11.25%	-13.52%	-19.58%	-38.71%	-211.37%	-192.16%	-257.5%	-1669.28%
Gross Margin	60.72%	12.94%	10.31%	20.7%	13.17%	11.05%	19.11%	27.54%	31.84%	65.82%
Net Margin	20837.76%	-608.67%	-281.61%	-439.36%	-494.21%	-582.13%	-543.73%	-332.23%	-234.42%	-166.19%
Debt / Equity	-	-	-	-	-	-	-	-	0.02x	2.05x
Interest Coverage	-	-6551.43x	-12.59x	-8.49x	-	-	-	-	-	-13.79x
FCF Conversion	-0.01x	1.67x	1.22x	0.77x	0.70x	0.71x	0.86x	0.83x	0.99x	0.68x
Revenue Growth	-97.48%	87.79%	27.92%	70.81%	29.77%	-4.71%	50.06%	21.9%	-1.07%	20.58%

Revenue by Segment

	2022	2023	2024
License	247.06K	352.94K	1.89M
License Growth	-	42.86%	435.55%
Research and Development	2.68M	2.55M	1.61M
Research and Development Growth	-	-5.12%	-36.95%

Frequently Asked Questions

Growth & Financials

Dyadic International, Inc. (DYAI) reported $2.6M in revenue for fiscal year 2024. This represents a 83% decrease from $15.4M in 2006.

Dyadic International, Inc. (DYAI) grew revenue by 20.6% over the past year. This is strong growth.

Dyadic International, Inc. (DYAI) reported a net loss of $7.3M for fiscal year 2024.

Dividend & Returns

Dyadic International, Inc. (DYAI) has a return on equity (ROE) of -139.2%. Negative ROE indicates the company is unprofitable.

Dyadic International, Inc. (DYAI) had negative free cash flow of $4.6M in fiscal year 2024, likely due to heavy capital investments.