Aduro Clean Technologies (ACT) Q4 2026 earnings summary

Executive summary

• Advanced Hydrochemolytic™ technology platform for plastics upcycling, bitumen, and renewables, with 11 patents (7 granted, 4 pending).

• Focused on licensing, royalties, and R&D as primary business model, with ongoing evaluation of alternative models.

• Major operational milestones: commissioning of NGP pilot plant, expansion of London, Ontario facilities, and selection of Chemelot Industrial Park (Netherlands) for FOAK industrial plant.

• Active customer engagement program with global partners, including Shell GameChanger, TotalEnergies, Cleanfarms, ECOCE, and AstroTurf.

Financial highlights

• Revenue for FY2026: $167,206, primarily from technical evaluation agreements (non-recurring).

• Net loss for FY2026: $(26,849,013), compared to $(12,145,790) in FY2025.

• Operating expenses increased to $11.6M (FY2026) from $8.9M (FY2025), driven by R&D and G&A growth.

• Cash and cash equivalents at May 31, 2026: $38.3M (up from $7.0M in FY2025), with working capital of $38.6M.

• Raised $45.2M in equity financing during FY2026, including two major U.S. public offerings and a private placement.

• Share-based compensation expense: $6.4M in FY2026 (up from $3.2M in FY2025).

• Accumulated deficit at May 31, 2026: $(61.9M).

Outlook and guidance

• Sufficient cash to fund operations for at least 12 months; negative cash flow expected to continue until commercialization.

• Focus on advancing FOAK industrial plant in the Netherlands, with project completion targeted for early 2028.

• Continued expansion of customer engagement and demonstration projects to drive future licensing and commercialization.

• Ongoing investment in R&D, patent filings, and technology scale-up.