Dyadic

Q2 FY2026 EarningsQ2 FY26 missed consensus expectations across key profitability metrics despite revenue performing mostly in-line. Revenue of $0.96M was slightly below the $0.98M expected, while the net loss per share widened to -$0.06 vs. the -$0.04 consensus. Gross margin was deeply negative at -2.40% compared to a positive 18.00% expectation, primarily due to a 60% YoY surge in costs associated with grant-funded activities. Despite commercial momentum in recombinant proteins, rising G&A expenses and high grant costs continue to pressure the bottom line.