Aduro revenue increases while losses widen

Aduro Clean Technologies Inc. has reported an increase in both revenue and operating losses in the second quarter of its 2026 fiscal year, which ran from Sept. 1 to Nov. 30, 2025.

The London, Ontario-based company, which offers chemical recycling and materials upgrading technology, has reported revenue of about $88,300 in the recently completed quarter, a 222 percent increase from the nearly $27,500 garnered one year earlier.

Unfortunately, Aduro also has reported an operating loss of more than $4.65 million from September through November 2025, a 107 percent increase from the more than $2.24 million it lost during the same time frame in 2024.

“This increase was primarily driven by higher noncash share-based compensation, a noncash loss resulting from the revaluation of the company’s derivative financial liability, increased research and development and technology scale-up activities, the hiring of additional employees to support growth, marketing and public relations expenditures and additional corporate expenses associated with the company’s Nasdaq listing," the company says.

The firm’s CEO says Aduro continues to engage in steps to scale up and bring to market its patented water-based technologies to chemically recycle plastic scrap, upgrade heavy crude oil and bitumen into higher-value oil and convert used oils into marketable fuels or chemicals.

“During the second fiscal quarter of 2026, Aduro achieved several key operational and planning milestones as we continued to execute on our scale-up roadmap,” Aduro CEO Ofer Vicus says. “We advanced the commissioning of our next-generation process pilot plant and made progress on the demonstration plant program, including advancing work on a global site selection process for the future location of the demonstration plant.”

On the financing front, Chief Financial Officer Mena Beshay says, “We significantly strengthened the company’s capital position with the completion of a United States public offering raising gross proceeds of approximately $20 million, providing additional flexibility to support planned activities across the business.”