Good day, everyone, and thank you for joining us today for the Lytham Partners Spring 2026 Investor Conference. My name is Joe Dorame, Managing Partner at Lytham Partners. I would like to welcome Dyadic Applied BioSolutions, which trades on the NASDAQ under the ticker DYAI. Today, Joe Hazelton, President and COO, will be taking us through the company presentation. Let's get started. Welcome, Joe. The floor is yours. Thank you, Joe. Thank you, everyone, for joining us today. I'm excited to talk to you today about our progress in becoming a commercial stage organization with multiple products in multiple markets using our proprietary gene expression technology that we've basically been engineering over the last three decades. Today, we will be talking about forward-looking statements that do involve risks and uncertainties. Please refer to our risks and uncertainty section in our most recent SEC filings found on our website. As you look at Dyadic, we run a very lean organization. We have transitioned to commercial. We do have products that are entering the market. We have a diversified revenue model that's focused on product sales, licensing, profit sharing, as well as partnerships, and we really have a disciplined operating structure. We have a strong balance sheet. We're expanding our commercial opportunities, and we believe we have multiple paths to long-term value creation. We're really at an inflection point. Over the last three years, we've transitioned from an R&D stage company that was focused on licensing its platform technology to a truly commercial stage protein and enzyme company, utilizing our technology to launch products into the market. Over the last 12 months, we've launched six products on our own as well as to our partners, and we've also executed global distribution agreements that will now be able to ship products into the market. We have profit-sharing arrangements in place with our partners that are going to deliver revenues, and we have already received initial purchase orders in all three of our segments, life sciences, food nutrition, and bioindustrial. We have the recurring revenue engine in motion. We've made the clear transition to a commercial stage company. We're in a strong position to grow. Now we just need to accelerate and continue to expand our footprint into the market. What we do remains relatively the same. We use our technology to engineer and develop protein strains using our C1 and our Dapibus platforms. We've been developing C1 for almost 30 years now. It's an optimized platform for high-value proteins in life sciences, biopharma, and therapeutics. It's been specifically designed to produce effective as well as efficient proteins at high levels with higher expression than you would typically see with traditional hosts that have been developed basically for lab-scale production to produce complex proteins, not really with cost in mind. Now we've developed our Dapibus platform to target the food, nutrition, and bioindustrial segments. We're still harnessing the native power of our filamentous fungal expression platforms, but we're now applying all the knowledge that we've gained over the last 30 years to truly optimize these for food nutrition and industrial markets where we're competing with animal and plant-based protein production. Why are we in the right place at the right time right now? It's because the market is demanding more pure proteins as well as more ethically and sustainably produced proteins. As you look at where the market is headed, companies are demanding repeatable, scalable production of proteins. We're also getting pressure from not only consumers, but also regulatory authorities. Where the proteins are coming from and how they're produced is obviously of great importance to them. As you look in cell and gene therapy or advanced biologics, the proteins that are used to make those, the proteins and enzymes that are used to make those need to be high quality. They need to be, in most cases, non-animal, because when you produce things using animal or plant-based sources, there's the potential for viruses, pathogens to enter the system. Not saying that happens quite a bit, but it's a risk that you could avoid when you're using recombinantly produced proteins. If you look, there's other supply chain and cost pressures. Obviously, you look at what's happening in the world today with the price of oil, which is making people seek alternative fuels. Then you also think about sustainability and the ethical imperative. Consumers are more conscious about what's going into the products that they're consuming, and they're consistently looking for more non-animal solutions. Precision fermentation technologies are rapidly expanding, and that's going to improve the capability to deliver proteins in this market. Why we win, we have a proprietary expression platform that has demonstrated over many years high quality and consistent performance. It's easily scalable, and now we have commercial execution with multiple products and partners providing us early traction across a diverse set of end markets that are large and growing. How do we capitalize on that? How are we going to essentially drive our revenues? We have three basic ways to do that. We have direct product sales, where we're selling products directly on our own. An example of that is in the first quarter, we have purchase orders that we're fulfilling for transferrin in the cultured meat segment. We've also sold into the biopharma and cultured meat segment growth factors. We have direct-to-customer solutions. We have OEM models, white label models. We're basically producing and selling our own products into the market. We also have licensing and platform capabilities, such as our deal with Proliant Health & Biologicals. They're the number two provider of naturally produced albumin in the world, and now they've launched AlbuFree DX, which is used basically through producing it in our proprietary platforms. Essentially, they've launched into the market where now we get to share in the back-end profits. We have a global distribution partner with IBT. We're able to get our products into the market, so now we can use their sales teams and their distribution power to expand our reach into the market. We also have partnerships and profit-sharing, like we have with Fermbox. We are currently co-manufacturing and co-promoting DNase I, as well as other proteins and enzymes in the cell culture media space and the bioindustrial space. We've seen our first bulk orders in both of those segments. We have early commercial traction, so even in our partner and profit-sharing arrangements, we're starting to make money. With Inzymes, they launched a self-affirmed GRAS food product, chymosin, into the market in early 2026. Now we have other partners where we have milestones and as well as royalties that we'll be receiving for these products as we move forward. We have the products in place. We have multiple ways to generate revenue from our platform, and now we're executing on that as we move forward. The spaces that we're playing in, and again, we're targeting large segments in much larger global markets. As I mentioned before, we're in life sciences, food, nutrition, and bioindustrial. In life sciences, we're focused on cell culture media, as well as DNA and RNA molecular biology workflows. In food and nutrition, we're focused on non-animal dairy proteins, as well as functional food proteins and food enzymes. In the bioindustrial space, we're focused on essentially bioprocessing and biomass-reducing industrial enzymes, which we have a lot of experience and have done in the past. We're targeting where our products perform extremely well, but they're also part of larger markets, which gives us great flexibility to expand as we move forward and expand our portfolio. In food and nutrition, this is where our early revenues are going to be coming from. We have DNase I, we have albumin, growth factors, transferrin, the key elements of the cell culture media, and now we have distribution. In addition to Proliant, who is out there launching the product, and they have a sales force and a global distribution network, now we have our own distribution network, and we'll look to secure other distribution capabilities as we move forward. These are recurring consumables. We're in the research-grade segment right now, and we're going to look to essentially expand into higher quality segments like GMP or clinical-grade production as we move forward. Same thing with DNase I. It's one of the building blocks for cell and gene therapy. It's also used for cleaning medical equipment to remove DNA. It's a ubiquitous enzyme that's used all throughout the cell and gene therapy and DNA and RNA molecular biology workflows. Essentially, the path from sampling to supplying commercially is relatively quick. Once customers get comfortable with the product and they qualify it, we start to scale up our production and then move it into the market through our distribution channels. Essentially, it becomes embedded in their processes, so it becomes like sticky demand. They like what they have, they're getting good pricing on it, they'll continue to use it. In the food and nutrition space, we're using a little bit different model. We're using a partner-driven approach because these are markets that are going to require significant investment in order to capitalize on. We've partnered with companies like BRIG BIO to bring bovine alpha-lactalbumin to market. It's one of the largest proteins or one of the largest non-animal dairy protein segments in the market today, similar to lactoferrin. We're using a partnership model so we can remain capital light, but also take advantage of these markets where we see tremendous opportunity that aligns with our ability to produce large amounts of economical proteins. In this space, we're competing with milk or we're competing with animal-derived proteins and enzymes. We have to be able to make things at obviously very consistent titers, as well as very consistent quality, and that's what we bring to the table here. We have partners that are able to attack those segments that have experience and are able to move that. We're going to continue to see opportunity there. We have our partner, Fermbox, who in addition to being a strategic manufacturing partner, is also helping us launch proteins and enzymes into the bioindustrial space. We already have initial traction with Enthrezyme. It's the protein used for bioprocessing. It's a cellulose cocktail. It could also potentially be used in biorefining and other alternative fuels. This has really validated the Dapibus platform for use in the industrial as well as the food and nutrition segment. We're targeting markets where we have the capability and we have products that we know work, and obviously we have the capability to expand into these segments as well. As you look at what the next couple of years look like, 2025 was really a transition year where we were developing our portfolio. 2026 is our launch year. We have multiple launches that we're doing on our own, like transferrin and growth factors, as well as with our partner, Fermbox. We also have partnered products like albumin, with Proliant. Inzymes is launching chymosin. We have products that are being launched, and now we're looking to accelerate that through our global distribution, like our agreement with IBT. We're taking our portfolio, and now we're commercializing that into the market, and we'll be able to start seeing layered revenues, with the bulk of it coming from our products that we're selling into the market through our partnership with Fermbox. Then we'll have revenues coming from our partners like Proliant and Inzymes. Also we'll start to see some revenues coming from Fermbox as well from the bioindustrial space. As we look to the future, the products will make up basically the bulk base revenue, and those will be recurring. We'll see inflection points where we potentially will do partnering or licensing deals where, like with Proliant or Inzymes, where we've made almost $3.5 million in upfront milestone fees from those two companies alone based on the strains that we've developed. That's what we're going to continue to focus on as we move forward. However, I'm not going to walk away from the biopharmaceutical segment. I still believe it holds long-term value for Dyadic Applied BioSolutions, but we're using a non-dilutive method to do that. We have partnerships with the Gates Foundation, with CEPI. We're embedded in the EU Vaccine Hub. We're going to continue to take advantage and look for non-dilutive funding to continue to advance the platform for human and animal therapeutics, but we're not going to be using our own money to do that. It'll be completely non-dilutive as we look forward. We're going to continue to partner with leading institutions to develop human and animal therapeutics, and we continue to have, again, large partners to do this with, and we look forward to this being a potential long-term upside for us. Really, essentially, what is it like? Where are we going? Well, we're launching products. Right now, I think if take one message away, we have products that are entering the market. We have early sales. The revenues are going to start to build. We have expanding partnerships. Our partners are launching products, like Proliant, who is an absolutely outstanding partner. They're one of the largest players in the albumin space, and they now have developed great data around the recombinant human albumin that they've launched into the market. We have other partners like Inzymes, who are also launching into the food and nutrition segment. We have our own methods through IBT as well as other distribution partners to expand our capability in this space. It's about scaling and accelerating that growth. Today where we've now transitioned from an R&D company to a true product-driven company, and we have a leadership team that's focused on delivering results in those areas. If you take anything away from today, it's that we've got products in the market, we have the distribution channels that we're starting to open up, and we're beginning to see the early revenues starting to come in. Now it's about accelerating that and moving it forward to the future. With that, I'll hand it back over to Joe, and I thank you all for your time today. Thank you, Joe. Thanks to everyone for watching. If you have any questions or would like to schedule a meeting with Dyadic, send me an email at dorame@lythampartners.com. Thank you, and have a great day.