Aduro Clean Technologies Reports Fourth Quarter and Fiscal Year 2025 Results and Provides Business Update
LONDON, Ontario, Aug. 28, 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 audited financial results for the year ended May 31, 2025, and has provided the following highlights. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
Ofer Vicus, CEO of Aduro, remarked, "Fiscal year 2025 marked a period of significant execution against our strategic priorities. Notably, we advanced construction of our Pilot Plant in collaboration with Zeton, with commissioning activities expected to begin in September 2025. We also broadened our feedstock testing, including initial work on synthetic turf, which has drawn attention from several parties expressing interest in the results and reflects the growing attention to chemical recycling solutions in this segment. In addition, we deepened our Customer Engagement Program, strengthened relationships with leading companies across the plastics and energy value chain and expanded our industry presence by joining collaborative associations. These initiatives position Aduro to demonstrate the scalability of Hydrochemolytic™ Technology ("HCT") and generate valuable data needed to assess its performance on diverse feedstocks."
Mena Beshay, CFO of Aduro, added, "We maintained financial discipline throughout the fiscal year, while supporting significant investment in our Pilot Plant. The equity financing we completed in June was executed efficiently and provides meaningful additional resources to advance our scale-up program. Aduro remains in a healthy financial position, supported by a strong balance sheet and continued backing from partners. We look forward to building on this foundation as we enter fiscal year 2026."
Fourth Quarter Fiscal 2025, Financial Highlights (three months ended May 31, 2025)
Quarterly revenue of $74,670 was recorded for Q4 2025, a decrease of 27% versus revenue of $102,250 generated in Q4 2024.
Loss from operations was $3,716,774 for Q4 2025, compared to $1,792,219 in Q4 2024.
Fiscal Year 2025, Financial Highlights (twelve months ended May 31, 2025)
Revenue for fiscal year 2025 was $231,212, a net decrease of 31% compared to $337,516 in fiscal year 2024. The Company's current revenue is earned through the completion of services under Customer Engagement Programs (CEP) for evaluation of the Company's technology and collaboration work. This revenue is non-recurring and varies with the timing and scope of evaluation projects. Year-over-year differences reflect the balance of Company resources allocated between scale-up activities, ongoing technical analysis, and customer evaluation programs.
Loss from operations was $12,145,790 for fiscal year 2025, compared to $7,436,861 for fiscal year 2024. This was primarily driven by increased research and development and technology scaleup activities, the hiring of new employees, an increase in non-cash share-based compensation, as well as corporate expenses associated with our Nasdaq Listing in November 2024.
At May 31, 2025, the carrying cost of property, plant, and equipment was $5.1 million compared to $3.6 million in 2024, representing an increase of $1.5 million. This was primarily driven by increased investment in research equipment and laboratory facilities to support our current rate of growth and capital work in progress related to the construction of the Company's pilot plant.
The Company maintained a strong cash position with $6.96 million at May 31, 2025, compared to $2.8 million in 2024.
Subsequent to May 31, 2025, Aduro received gross proceeds of approximately US$9.2 million from the closing of an underwritten U.S. public offering and approximately $0.8 million from the exercise of options and warrants, further strengthening the Company's balance sheet.
Selected Comparative Financial Information (for the years ended May 31)
(CAD $)
FY2025(Ended May 31, 2025)
FY2024(Ended May 31, 2024)
% Change
Revenue
$ 231,212
$ 337,516
-31
%
Loss from operations
$ 12,145,790
$ 7,436,861
63
%
Property, plant & equipment
$ 4,109,459
$ 3,128,632
