- Aduro Clean Technologies (ADUR/ACT) reported a 39% decrease in Q3 fiscal 2025 revenue to $63,399 compared to Q3 2024.
- The company's operating loss widened to $2.85 million, influenced by increased headcount and Nasdaq listing expenses.
- A notable highlight includes the completed Basic Engineering Design for the HCT Next Generation Process pilot plant.
Aduro Clean Technologies has released its third quarter fiscal 2025 financial results, revealing a significant decline in revenue and an increase in operating losses. The company reported a 39% drop in revenue to $63,399 from the same quarter last year. Operating losses also increased to $2.85 million, up from $2.02 million in the previous year, due in part to additional hiring and expenses related to its Nasdaq listing.
Despite these financial challenges, Aduro Clean Technologies has maintained a robust cash position of $8.4 million. Additionally, the value of the company's property and equipment stands at $4.2 million, underscoring ongoing investments in research and development infrastructure.
On the operational front, Aduro has reached a key milestone by completing the Basic Engineering Design for its HCT Next Generation Process pilot plant, a critical step toward commercialization. The company also filed a new patent application for process design implementation, reinforcing its intellectual property portfolio.
Strategic leadership appointments include Arturo Gomez as VP of Engineering and Neha Nisar as VP of Finance, highlighting Aduro's commitment to bolstering its management team to navigate the commercial scale-up of its technology.
Following the company's November 2024 Nasdaq listing, underwriters exercised an over-allotment option, resulting in total gross proceeds of approximately US$4.52 million at US$4.25 per share, which provides additional financial flexibility for ongoing projects.
