Aduro Clean Technologies Reports Third Quarter Fiscal 2025 Results
Aduro Clean Technologies (ADUR/ACT) reported Q3 fiscal 2025 results with quarterly revenue of $63,399, marking a 39% decrease from Q3 2024. Operating loss widened to $2.85 million compared to $2.02 million in Q3 2024, primarily due to company growth, increased headcount, and Nasdaq listing expenses.
The company maintained a strong cash position of $8.4 million and reported property and equipment value of $4.2 million. Key developments include completing the Basic Engineering Design phase for their HCT Next Generation Process pilot plant, filing a new patent for process design implementation, and appointing new leadership with Arturo Gomez as VP of Engineering and Neha Nisar as VP of Finance.
Following their November 2024 Nasdaq listing, underwriters exercised an over-allotment option for additional shares, resulting in total gross proceeds of approximately US$4.52 million at US$4.25 per share.
Aduro Clean Technologies (ADUR/ACT) ha riportato i risultati del terzo trimestre fiscale 2025 con un fatturato trimestrale di 63.399 dollari, segnando un calo del 39% rispetto al terzo trimestre 2024. La perdita operativa si è ampliata a 2,85 milioni di dollari rispetto ai 2,02 milioni del terzo trimestre 2024, principalmente a causa della crescita aziendale, dell'aumento del personale e delle spese per la quotazione al Nasdaq.
L'azienda ha mantenuto una solida posizione di cassa di 8,4 milioni di dollari e ha riportato un valore di immobili e attrezzature pari a 4,2 milioni di dollari. Tra gli sviluppi chiave, si segnala il completamento della fase di Basic Engineering Design per l'impianto pilota del processo HCT Next Generation, la presentazione di un nuovo brevetto per l'implementazione del design del processo e la nomina di nuovi dirigenti con Arturo Gomez come VP dell'Ingegneria e Neha Nisar come VP delle Finanze.
A seguito della quotazione al Nasdaq nel novembre 2024, gli underwriter hanno esercitato un'opzione di sovrallocazione per azioni aggiuntive, generando proventi lordi totali di circa 4,52 milioni di dollari a 4,25 dollari per azione.
Aduro Clean Technologies (ADUR/ACT) reportó los resultados del tercer trimestre fiscal 2025 con ingresos trimestrales de 63,399 dólares, lo que representa una disminución del 39% respecto al tercer trimestre de 2024. La pérdida operativa se amplió a 2.85 millones de dólares frente a 2.02 millones en el tercer trimestre de 2024, principalmente debido al crecimiento de la empresa, aumento de personal y gastos por la cotización en Nasdaq.
La compañía mantuvo una sólida posición de efectivo de 8.4 millones de dólares y reportó un valor de propiedades y equipos de 4.2 millones de dólares. Entre los desarrollos clave destacan la finalización de la fase de Diseño Básico de Ingeniería para su planta piloto del proceso HCT Next Generation, la presentación de una nueva patente para la implementación del diseño del proceso y el nombramiento de nuevos líderes con Arturo Gomez como VP de Ingeniería y Neha Nisar como VP de Finanzas.
Tras su cotización en Nasdaq en noviembre de 2024, los suscriptores ejercieron una opción de sobresuscripción para acciones adicionales, resultando en ingresos brutos totales de aproximadamente 4.52 millones de dólares a 4.25 dólares por acción.
Aduro Clean Technologies (ADUR/ACT)는 2025 회계연도 3분기 실적을 발표했으며, 분기 매출은 63,399달러로 2024년 3분기 대비 39% 감소했습니다. 영업손실은 2024년 3분기의 202만 달러에서 285만 달러로 확대되었으며, 이는 주로 회사 성장, 인력 증가 및 나스닥 상장 비용 때문입니다.
회사는 840만 달러의 견고한 현금 보유고를 유지했으며, 자산 및 장비 가치는 420만 달러로 보고했습니다. 주요 발전 사항으로는 HCT 차세대 공정 파일럿 플랜트의 기본 설계 단계 완료, 공정 설계 구현을 위한 신규 특허 출원, 아르투로 고메즈를 엔지니어링 부사장으로, 네하 니사르를 재무 부사장으로 임명한 점이 포함됩니다.
2024년 11월 나스닥 상장 이후, 인수인들은 추가 주식에 대한 초과배정 옵션을 행사하여 주당 4.25달러에 약 452만 달러의 총 수익을 올렸습니다.
Aduro Clean Technologies (ADUR/ACT) a publié ses résultats du troisième trimestre de l’exercice 2025 avec un chiffre d’affaires trimestriel de 63 399 dollars, soit une baisse de 39 % par rapport au troisième trimestre 2024. La perte d’exploitation s’est creusée à 2,85 millions de dollars contre 2,02 millions au troisième trimestre 2024, principalement en raison de la croissance de l’entreprise, de l’augmentation des effectifs et des frais liés à l’inscription au Nasdaq.
L’entreprise a maintenu une trésorerie solide de 8,4 millions de dollars et a déclaré une valeur d’immobilisations corporelles de 4,2 millions de dollars. Parmi les développements clés figurent l’achèvement de la phase de conception technique de base pour leur usine pilote du processus HCT Next Generation, le dépôt d’un nouveau brevet pour la mise en œuvre de la conception du procédé, ainsi que la nomination de nouveaux dirigeants avec Arturo Gomez en tant que VP ingénierie et Neha Nisar en tant que VP finances.
Suite à leur introduction en bourse au Nasdaq en novembre 2024, les souscripteurs ont exercé une option de surallocation pour des actions supplémentaires, générant un produit brut total d’environ 4,52 millions de dollars à 4,25 dollars par action.
Aduro Clean Technologies (ADUR/ACT) meldete die Ergebnisse für das dritte Quartal des Geschäftsjahres 2025 mit einem Quartalsumsatz von 63.399 US-Dollar, was einem Rückgang von 39 % gegenüber dem dritten Quartal 2024 entspricht. Der operative Verlust erhöhte sich auf 2,85 Millionen US-Dollar gegenüber 2,02 Millionen im dritten Quartal 2024, hauptsächlich aufgrund von Unternehmenswachstum, gestiegenem Personalbestand und Kosten für die Nasdaq-Notierung.
Das Unternehmen hielt eine starke Cash-Position von 8,4 Millionen US-Dollar und meldete einen Wert von Sachanlagen in Höhe von 4,2 Millionen US-Dollar. Zu den wichtigsten Entwicklungen zählen der Abschluss der Basic Engineering Design-Phase für ihre HCT Next Generation Process Pilotanlage, die Anmeldung eines neuen Patents für die Prozessdesign-Implementierung sowie die Ernennung neuer Führungskräfte mit Arturo Gomez als VP Engineering und Neha Nisar als VP Finanzen.
Nach ihrer Nasdaq-Notierung im November 2024 übten die Underwriter eine Mehrzuteilungsoption für zusätzliche Aktien aus, was zu Bruttoerlösen von etwa 4,52 Millionen US-Dollar bei 4,25 US-Dollar pro Aktie führte.
- Strong cash position of $8.4 million
- Successful completion of Basic Engineering Design for pilot plant
- New patent filing strengthening intellectual property portfolio
- Raised US$4.52 million through Nasdaq listing and over-allotment
- Strategic expansion of leadership team with key executive appointments
- 39% decrease in quarterly revenue to $63,399
- Operating loss increased to $2.85 million from $2.02 million YoY
- 33% decline in year-to-date revenue
Insights
Aduro Clean Technologies' Q3 fiscal 2025 results present a mixed financial picture with some concerning metrics offset by strategic positioning. The company reported
The revenue decline warrants attention as it highlights Aduro's pre-commercial status – current income derives entirely from technology evaluation services rather than commercial operations. However, the
Key operational progress includes completing Basic Engineering Design for their pilot plant (scheduled for Q3 commissioning), filing a strategic patent application for their Hydrochemolytic Technology (HCT), and establishing an MOU with NexGen Polymers for a demonstration-scale facility. The company has also strengthened its leadership team with VP-level appointments in Engineering and Finance.
The
While the quarterly metrics show challenges in pre-commercial execution, the technology development milestones and strategic partnerships suggest continued progress toward commercialization in the clean technology sector.
Aduro's commercialization pathway is taking concrete shape with the successful completion of Basic Engineering Design for their HCT Next Generation Process pilot plant. This milestone represents a critical transition from laboratory research to scaled implementation. The company's partnership with Zeton – a recognized leader in modular pilot facilities – adds significant credibility to this development phase.
The new patent filing strengthens Aduro's intellectual property portfolio at a crucial juncture. This timing is strategic as it secures protection before the technology becomes visible in the pilot plant, potentially deterring competitors from replicating their approach to chemical recycling. The patent specifically addresses process design for implementing their Hydrochemolytic Technology, suggesting they're solving practical engineering challenges that often derail promising laboratory technologies.
The appointment of Dr. Arturo Gomez as VP of Engineering is particularly significant. His expertise in scaling chemical processes from laboratory to commercial operations directly addresses a critical need for Aduro. With experience at MilliporeSigma (Merck KGaA), Lanxess, and Bartek Ingredients, he brings valuable know-how in reactor design and chemical process optimization – precisely the skills needed for successful commercialization.
The MOU with NexGen Polymers represents a practical step toward establishing a demonstration facility, addressing key commercialization components including feedstock supply and site selection. This partnership could accelerate the technology's market validation by creating a feedback loop between operational data and design improvements.
While financial metrics show the company remains pre-revenue in terms of commercial operations, these technical and partnership developments indicate steady progression along the technology commercialization pathway.
LONDON, Ontario, April 15, 2025 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (CSE: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, has filed its interim condensed consolidated financial results for the three and nine months ended February 28, 2025, and has provided the following highlights. Unless otherwise indicated, all financial information in this press release is reported in Canadian dollars.
Ofer Vicus, CEO of Aduro, commented, “During the third fiscal quarter, Aduro continued to execute toward its 2025 strategic goals by expanding engineering capacity and leadership while maintaining momentum in its customer engagement and commercial scale-up programs. Additionally, the filing of a new patent for a novel process design enhancing the effective implementation of our Hydrochemolytic™ Technology (“HCT”) further strengthens our ability to advance both the chemistry and practical application of the Company’s technologies.”
Mena Beshay, CFO of Aduro, stated, “Following our Nasdaq listing in November 2024, Aduro remains focused on advancing its growth strategy and scale-up program. With a strong cash position and a seasoned management team, the Company is well positioned to execute on its strategic priorities through the remainder of fiscal 2025 and beyond.”
Third Quarter 2025 - Financial Highlights
- Quarterly revenue of
$63,399 was recorded in Q3 2025, a decrease of39% versus revenue of$103,628 generated in Q3 2024. Year-to-date revenue for the nine-months ending February 28, 2025, was$156,542 , a decrease of33% compared to the nine-months ending February 29, 2024. All of the Company’s current revenue is earned through the completion of services under customer engagement programs “CEP” for evaluation of the Company’s technology applications. This revenue is not recurring and is driven by the testing and technical evaluation work conducted during the period. Additionally, progress made on ongoing customer engagement programs depends on multiple factors, including the allocation of Company resources between the technology scale-up and commercialization program and the ongoing analysis and customer engagement programs. - Loss from operations was
$2,851,772 for Q3 2025, compared to a loss from operations of$2,027,383 in Q3 2024. This was primarily driven by Company’s growth and the hiring of new employees, increase in non-cash share-based compensation, as well as corporate expenses associated with our Nasdaq listing in November 2024. - At February 28, 2025, the carrying cost of property, plant, and equipment was
$4.2 million , representing an increase of$85,010 and$553,513 in the three-and nine-months ending February 28, 2025, respectively, primarily due to an increased investment in research equipment and laboratory facilities to support our current rate of growth. - The Company maintained a strong cash position with
$8.4 million at February 28th, 2025.
Third Quarter 2025 - Corporate Highlights and Subsequent Events
Key Corporate Updates and Achievements:
Reaching Key Milestone in Pilot Plant Design: Aduro announced the successful completion of the Basic Engineering Design phase for its HCT Next Generation Process (NGP) pilot plant, marking a significant milestone in the commercialization of its platform technology. With the NGP pilot plant on track for commissioning in the third quarter of this year, the Basic Engineering Design represents the culmination of many years of extensive research and development. Aduro has partnered with Zeton, a global leader in modular pilot and demonstration-scale plant design. Both organizations are collaborating closely to advance the project towards installation and commissioning.
Announced Filing of New Patent: Aduro announced the filing of a patent application in the United States for a novel process design for effective implementation of its HCT. The design will be integrated into the NGP pilot plant. This new patent application strengthens Aduro’s position in advancing HCT chemistry and its practical implementation, allowing the Company to continue advancing its commercial path as well as expanding the Company’s intellectual property assets. The application also marks the achievement of a key milestone, delivering on one of the primary objectives for the current year.
Appointed Vice President of Engineering: The Company appointed Arturo Gomez as Vice President of Engineering. Aduro continues to enhance its strong engineering team alongside the Company’s R&D and Operation teams. Hiring Dr. Gomez underscores Aduro’s strong commitment to support the process scale-up of its HCT. As Aduro progresses towards commissioning its NGP pilot plant, Dr. Gomez’s expertise in process scale-up will prove invaluable in completing the pilot plant and advancing the future commercial demonstration plant. With over 20 years of expertise in process engineering and chemical process design, including leading teams through the successful transition of technologies from laboratory and pilot phases to commercial-scale operations, Dr. Gomez has a history of managing complex projects in reactor design, advanced materials manufacturing, and chemical process optimization, positioning Aduro for a stronger path towards commercialization. Dr. Gomez’s career includes senior engineering roles at leading organizations such as MilliporeSigma (a Merck KGaA), Lanxess and Bartek Ingredients. Arturo holds a Ph.D. in Chemical and Petroleum Engineering from the University of Calgary and is a licensed Professional Engineer (P.Eng.).
Appointed Vice President of Finance: The Company appointed Neha Nisar as Vice President of Finance, as a critical team member in Aduro’s expansion phase that requires focused vision, strategic planning, strong financial oversight, and effective resource management. Mrs. Nisar has over two decades of experience in financial leadership, risk management and strategic planning across diverse industries. Mrs. Nisar has held key leadership positions at Marriott International, Canada Goose, and MEDNOW.
Exercise of Over Allotment Option: The Company announced that the underwriters of its underwritten U.S. public offering in connection with its uplisting to Nasdaq, has exercised their over-allotment option to purchase an additional 22,470 common shares at the public offering price of US
Election of Directors: Aduro confirmed that all the nominees for election as directors of the Company referred to in its notice of meeting and information circular dated October 23, 2024, were elected at its 2023/2024 annual general meeting held on November 22, 2024.
Investment Community Engagement: The Company participated in several investor events during and subsequent to the third quarter.
In January 2025, Aduro marked its Nasdaq listing milestone by ringing the Closing Bell at the Nasdaq MarketSite in New York. The event highlighted the Company’s transition to a broader investor platform and commitment to commercial growth.
In January 2025, Aduro hosted a virtual fireside chat, where the Company’s management team discussed the commercialization strategy for its innovative HCT.
In March 2025, Ofer Vicus joined Michael Spector host of Nasdaq Amplify to share how Aduro is transforming the world of chemical recycling, and heavy oil upgrading.
In addition, Aduro has participated in the following conferences year to date:
- 29th ICIS World Base Oils and Lubricants Conference
- Alberta Circular Plastics Day 2025 – Alberta Plastics Recycling Association
- 2025 CUWP Annual Meeting – Poster Presentation
- 2nd Asia Sustainable Plastics Summit 2025
- 11th ICIS World Polyolefins Conference
- Canadian Circular Economy Summit
- Gabelli Funds 11th Annual Waste & Environmental Services Symposium
- LD Micro 15th Annual Invitational
- CEM 13th Annual Scottsdale Capital Event
Signing of Memorandum of Understanding (“MOU”) with NexGen Polymers: Aduro signed an MOU with NexGen Polymers, detailing a framework for a proposed collaboration to develop a demonstration-scale HCT plant including securing feedstock supply, potential site selection, and plant operations to optimize data generation for the future development of configurable commercial solutions.
For a more detailed discussion of Aduro's Q3 2025 results, please refer to the Company's condensed interim consolidated financial statements and interim management discussion & analysis for the three and nine months ended February 28, 2025, which are available at www.sedarplus.ca.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Abe Dyck, Head of Corporate Development/Investor Relations
ir@adurocleantech.com
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Senior Vice President
aduro@kcsa.com
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future, are forward-looking statements. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. In this news release, the forward-looking statements include, but are not limited to, Aduro's strategic goals for 2025, the advancement of its Hydrochemolytic™ Technology (HCT), the growth strategy and scale-up program following its Nasdaq listing, the commissioning of the NGP pilot plant, the filing of a new patent application, the process scale-up and future commercial demonstration plant, the expansion phase requiring strategic planning and resource management, and the collaboration with NexGen Polymers to develop a demonstration-scale HCT plant. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, various technology risks such as the possibility that the HCT may not advance as expected, competing technologies gaining greater market share or being found to be more efficient or reliable, the HCT not being commercially viable or failing to obtain significant market share, and challenges in scaling up the technology or integrating it into existing systems; risks related to the commissioning of the NGP pilot plant include the possibility that it may not proceed or be completed as anticipated due to technical, logistical, or financial issues; risks that the patent for the novel process design may not be filed as expected due to technical reasons such as incomplete data, regulatory hurdles, or unforeseen legal challenges; risks related to the process scale-up and future commercial demonstration plant, including potential technical difficulties, cost overruns, and delays in achieving commercial viability; risks that the expansion phase requiring strategic planning and resource management may face challenges such as misallocation of resources, inadequate strategic planning, and unforeseen market conditions; risks that the collaboration with NexGen Polymers to develop a demonstration-scale HCT plant may not be completed as planned, and the project may not be commercially or financially viable due to issues such as securing feedstock supply, site selection, and operational challenges; risks of fluctuations in market demand or economic conditions impacting sales and revenue, changes in the cost of materials, labor, or overhead affecting operational expenses, unexpected operational issues or inefficiencies increasing costs or reducing output, new laws or regulations imposing additional costs or altering operational procedures, natural disasters, pandemics, or other unforeseen events disrupting operations, errors in the budgeting process such as overestimating sales or underestimating costs, strategic shifts or changes in management leading to different spending patterns or priorities, and seasonal fluctuations in sales or expenses that may not have been accurately accounted for in the budget could also impact the Company's performance; financing risks, including difficulties in securing necessary funding or investment, and market uncertainty due to political instability, tariffs, and other geopolitical factors, could also materially affect outcomes, and other factors that may negatively affect the Company's operations and financial performance. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events, or otherwise, except as required by applicable law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e85d4ebe-e8d7-43db-ab43-b8c4132e7f4e
FAQ
What caused Aduro Clean Technologies (ACTHF) revenue decline in Q3 2025?
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How much did Aduro raise from its Nasdaq listing over-allotment option?
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