Dyadic International Reports 182% Revenue Increase in Q1 2026

Dyadic International reported revenue of $1.1 million for the first quarter of 2026, a 182% increase from the first quarter of 2025. The company said the growth was driven mainly by higher research and development revenue, grant revenues and milestone payments.

The company is continuing its transition from a platform technology developer to a commercial biotechnology company with multiple revenue streams from product sales, partnerships and licensing agreements.

Products enabled by its microbial production platforms have begun entering commercial channels. Operational developments include a commercial launch by partner Proliant Health Biologicals of Albufree DX recombinant human albumin produced using Dyadic's technology. Dyadic is eligible to receive a share of profits from those sales.

Separately, Enzymes has commercialized a recombinant non-animal chymosin after Dyadic met developmental milestones. These launches have led to increased inbound interest from potential partners, distributors and customers evaluating the technology for additional proteins and enzymes. The applications span life sciences, food and nutrition, and industrial uses.

Dyadic's strategy centers on its proprietary C1 and Dapavis microbial production platforms to manufacture animal-free proteins and enzymes. The company targets markets where scalability, manufacturing economics, supply chain reliability and sustainability are important considerations.

Management said traditional production systems can be expensive, difficult to scale or reliant on animal-derived inputs.

Dyadic's platforms are positioned to address those limitations while supporting partners' shift toward sustainable and animal-free solutions. The company maintains a disciplined approach to cash management. It expects its existing cash resources to provide a runway into the second quarter of 2027.

During the earnings call on May 13, 2026, executives emphasized ongoing biopharmaceutical collaborations as a source of strategic validation and potential future licensing opportunities. The company said it remains focused on scaling product sales, expanding partnerships and supporting customer adoption while controlling expenses.