Dyadic(US:DYAI)2025-11-12 21:08Financial Performance - Total revenue for Q3 2025 decreased to $1,165,000, down from $1,958,000 in the same period last year, primarily due to a reduction in active collaborations and license revenue [15]. - Loss from operations for Q3 2025 increased to $1,925,000 compared to $203,000 for the same period last year [20]. - Net loss for Q3 2025 was $1,976,000 or $(0.06) per share, compared to a net loss of $203,000 or $(0.01) per share in the same period last year [20]. - Total revenue for Q3 2025 was $1,164,617, a decrease of 40.5% compared to $1,957,500 in Q3 2024 [27]. - Research and development revenue for Q3 2025 was $350,046, down 34.2% from $532,500 in Q3 2024 [27]. - Net loss for Q3 2025 was $1,976,012, compared to a net loss of $203,460 in Q3 2024 [27]. - Basic and diluted net loss per share for Q3 2025 was $0.06, compared to $0.01 in Q3 2024 [27]. - Total costs and expenses for Q3 2025 were $3,089,986, an increase of 43% from $2,160,114 in Q3 2024 [27]. Cash and Assets - Cash position as of September 30, 2025, was approximately $10.4 million, an increase from $9.3 million as of December 31, 2024 [13]. - Total current assets as of September 30, 2025, were $11,545,262, an increase from $9,827,668 as of December 31, 2024 [29]. - The company reported an increase in accounts receivable to $916,574 as of September 30, 2025, from $237,027 as of December 31, 2024 [29]. Liabilities and Equity - Total liabilities increased to $9,065,423 as of September 30, 2025, compared to $7,459,985 as of December 31, 2024 [29]. - Stockholders' equity as of September 30, 2025, was $2,607,334, up from $2,470,290 as of December 31, 2024 [29]. Research and Development - Research and development expenses for Q3 2025 increased to $572,000 from $460,000 in the same period last year, driven by more active internal initiatives [18]. - Grant revenue increased to $814,571 in Q3 2025, compared to no grant revenue in Q3 2024 [27]. Strategic Partnerships and Product Development - Dyadic secured a non-exclusive CRISPR/Cas9 license with ERS Genomics to enhance production capabilities and product performance [6]. - The company received a total of $1.5 million in milestone payments for the development of animal-free serum albumin, with ongoing revenue sharing anticipated from future sales [10]. - Dyadic advanced its international growth strategy by partnering with Intralink to expand in Japan and South Korea, targeting the biopharma market [6]. - Dyadic launched EN3ZYME™, an enzyme cocktail for converting agricultural residue into fermentable sugars, with initial deliveries completed under a partnership with Fermbox Bio [16]. General and Administrative Expenses - General and administrative expenses rose to $1,481,000 in Q3 2025, up from $1,298,000 in the same period last year, reflecting increased rebranding and business development costs [19].