Aduro Clean Technologies (ACT) Q4 2026 earnings summary

Executive summary

• Transitioned NGP Pilot Plant from construction to structured operating campaigns, advancing FOAK Program at Chemelot and establishing commercial pathways through offtake, licensing, and downstream validation.

• Achieved steady-state operation and strong liquid hydrocarbon recovery in latest NGP campaign; expanded work on complex plastic waste streams and advanced paraffinic crude program to continuous-flow development.

• Focused on disciplined, data-driven technical development and capital deployment to support scale-up and commercialization.

Financial highlights

• Loss from operations was $12.43M for Q4 2026 (up from $3.72M in Q4 2025); full-year loss was $26.85M (up from $12.15M in FY2025), driven by higher non-cash share-based compensation and derivative liability revaluation.

• Adjusted EBITDA for Q4 2026 was $(2.41)M (improved from $(2.69)M in Q4 2025); full-year adjusted EBITDA was $(10.74)M (down from $(8.17)M in FY2025).

• Revenue for Q4 2026 was nil (down from $74.7K in Q4 2025); full-year revenue was $167.2K, a 28% decrease year-over-year.

• Cash position at May 31, 2026, was $38.3M (up from $7.0M at May 31, 2025), primarily due to public offerings.

• Property, plant, and equipment carrying cost increased to $10M (from $5.1M), reflecting investment in pilot and FOAK facilities.

Outlook and guidance

• Focus remains on disciplined capital deployment against defined technical and project milestones as the company enters fiscal 2027.

• Proceeds from recent financings will support FOAK Plant design, engineering, construction, R&D, and working capital.

• Ongoing pilot and FOAK activities are expected to inform commercialization and licensing pathways.