ADUR

Company Overview — What Does ADURO CLEAN TECHNOLOGIES INC. Do?

We are an early-stage, Ontario-based clean technology company that has developed a highly flexible chemical recycling platform featuring three unique technologies: Hydrochemolytic™ Plastics Upcycling, Hydrochemolytic™ Bitumen Upgrading, and Hydrochemolytic™ Renewables Upgrading. As of today, through acquisition and development, we own eight US-based patents, seven granted and one pending. Our future business model is based principally on licensing, royalties, and research and development. However, we are still investigating different business models that may be a better fit to our operations and bring greater value to our stakeholders. Monetization of our platform through a licensing model reduces our need for capital while enabling a pathway to commercialization that management of our company believes is relatively straightforward, timely, and capital efficient. We intend to develop commercial partnerships by means of demonstration projects. Management believes this strategy will be very effective for building a pipeline of customer interests and agreements. Deliverables include reports that detail: the technology; its performance; the key parameters and operational variables; economic considerations; operational considerations, and environmental considerations including greenhouse gases (“GHG”) footprint and life cycle analysis. Among the intended business benefits are developing long-term customer and partner relationships, a better understanding of geographical territories, behaviors, and characteristics and the potential impact of the technology from environmental, social, and governance (ESG) criteria. For our founders, Ofer Vicus, Chief Executive Officer (“CEO”), and W. Marcus Trygstad, Principal Scientist, the impetus for our formation was the vision to develop hydrothermal upgrading technology for upgrading heavy oils. But through scientific research and development efforts, our management found that hydrothermal upgrading technology also could be applied beneficially in the seemingly unrelated fields of plastic and rubber tire upcycling and renewable oil upgrading. Moreover, discoveries made while pursuing those new applications provided management with deeper insights into fundamental chemistry, including operating in connection with the original work on heavy oil. From this work, we developed our current and versatile intellectual property, including our Hydrochemolytic™ Technology platform, as well as developing eight patents (7 granted and one pending). With support from industry participants as early as 2015, our technology demonstration projects have provided validation of Hydrochemolytic™ Technology in key applications to support pre-commercial, pilot-scale demonstrations. We currently direct our Hydrochemolytic™ Technology platform toward Hydrochemolytic™ Plastics Upcycling, Hydrochemolytic™ Bitumen Upgrading, and Hydrochemolytic™ Renewables Upgrading. Our technology transforms lower-value feedstocks into useful, higher- value chemical feedstocks and fuels. Although our technology can be implemented in stand-alone operations, management believes its greatest economic relevance and impact is achieved through integration into thermal operation infrastructure at existing plants. Accordingly, we will aim to create strategic partnerships to demonstrate and implement the technology through licensing arrangements. We have developed our technology platform to address different applications and market sectors. We are currently in the stage of scaling up our technology to a commercial process for our plastic and bitumen applications. Our first significant scale-up step is the development of a semi commercial process which will be designed, built and tested on a pilot scale and subsequently scaled up further to demonstrate on a commercial scale. We have incurred recurring losses since inception and our technology platform has not yet been tested in a commercial setting. Commercializing our technology platform presents several challenges, including that the technology may not perform as expected under real-world conditions, rapid advancements in chemical recycling technology may result in new, more efficient technologies emerging, potentially rendering parts of our technology platform as less efficient, and securing funding may be difficult given the substantial investment required to scale up the technology platform on a commercial scale. We do not have a definitive timeline for scaling up our technology to a commercial process for our plastic and bitumen applications. In the meantime, we are continuing to engage with prospective customers through technology evaluation projects to guide ongoing development. We face a number of challenges since our technology is different from existing approaches in our industry. In particular, we are a new and different concept from the existing approaches in our industry and our technology is not yet tested in a commercial setting. We also face many of the common challenges in upscaling of chemical processes, including challenges related to mass- and heat transfer, and equipment design. Some particular challenges include the handling of solid or semi-solid feedstock (plastic waste, bitumen), and the high degree of contamination (especially in waste plastic). In addition, our industry has a significant amount of unsettled regulation and many different approaches and strategies. To deal with these various challenges, we have adopted an early stage approach to connecting with our prospective customers and potential partners on our path towards the commercial development of our technology. The primary objective of these connections, which we describe as customer engagements, is to provide us with guidance for the development of our technology and business. Apart from the invaluable guidance in our technological development, we regard the connections in our "Customer Engagement Program" as an endorsement of our efforts by reputable and established organizations. While we have been successful with these engagements for the evaluation of our technology so far, and we are currently in discussions with a number of prospective customers and potential partners for possible collaboration, we currently do not have any definitive partnership agreements in place. Our company was incorporated under the Business Corporations Act (British Columbia) in British Columbia, Canada under the name "Aduro Clean Technologies Inc." Our principal place of business is located at 542 Newbold St., London, Ontario, N6E 2S5, Canada. Our registered records office is located at Suite 2300, Bentall 5, 550 Burrard Street, Vancouver, British Columbia, Canada. ADURO CLEAN TECHNOLOGIES INC. (ADUR) is classified as a small-cap stock in the Materials sector, specifically within the Chemicals industry. The company is led by CEO Ofer Vicus, headquartered in SARNIA, Ontario. With a market capitalization of $346M, ADUR is one of the notable companies in the Materials sector.

ADURO CLEAN TECHNOLOGIES INC. (ADUR) Stock Rating — Reduce (April 2026)

As of April 2026, ADURO CLEAN TECHNOLOGIES INC. receives a Reduce rating with a composite score of 36.1/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.ADUR ranks #3,333 out of 4,446 stocks in our coverage universe. Within the Materials sector, ADURO CLEAN TECHNOLOGIES INC. ranks #239 of 284 stocks, placing it in the lower half of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

ADUR Stock Price and 52-Week Range

ADURO CLEAN TECHNOLOGIES INC. (ADUR) currently trades at $10.45. The stock gained $0.17 (1.7%) in the most recent trading session. The 52-week high for ADUR is $17.66, which means the stock is currently trading -40.8% from its annual peak. The 52-week low is $3.49, putting the stock 199.4% above its annual trough. Recent trading volume was 168K shares, suggesting relatively thin trading activity.

Is ADUR Overvalued or Undervalued? — Valuation Analysis

ADURO CLEAN TECHNOLOGIES INC. (ADUR) carries a value factor score of 37/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 39.96x, versus the sector average of 2.83x. The price-to-sales ratio is 509.51x, compared to 0.74x for the average Materials stock.

At current multiples, ADURO CLEAN TECHNOLOGIES INC. trades at a premium to most Materials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

ADURO CLEAN TECHNOLOGIES INC. Profitability — ROE, Margins, and Quality Score

ADURO CLEAN TECHNOLOGIES INC. (ADUR) earns a quality factor score of 31/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -412.0%, compared to the Materials sector average of 3.3%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -378.5% versus the sector average of 0.6%.

On a margin basis, ADURO CLEAN TECHNOLOGIES INC. reports gross margins of 94.7%, compared to 29.8% for the sector. The operating margin is -5163.2% (sector: 6.0%). Net profit margin stands at -5253.1%, versus 3.0% for the average Materials stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

ADUR Debt, Balance Sheet, and Financial Health

ADURO CLEAN TECHNOLOGIES INC. has a debt-to-equity ratio of 1.0%, compared to the Materials sector average of 41.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $80,259. Cash and equivalents stand at $5M.

ADUR has a beta of 1.51, meaning it is more volatile than the broader market — a $10,000 investment in ADUR would be expected to move 51.1% more than the S&P 500 on any given day. The stability factor score for ADURO CLEAN TECHNOLOGIES INC. is 25/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

ADURO CLEAN TECHNOLOGIES INC. Revenue and Earnings History — Quarterly Trend

In TTM 2026, ADURO CLEAN TECHNOLOGIES INC. reported revenue of $168,191. Net income for the quarter was $-9M. Gross margin was 94.7%. Operating income came in at $-9M.

In FY 2025, ADURO CLEAN TECHNOLOGIES INC. reported revenue of $168,191. Net income for the quarter was $-9M. Gross margin was 94.7%. Revenue grew -32.0% year-over-year compared to FY 2024. Operating income came in at $-9M.

In FY 2024, ADURO CLEAN TECHNOLOGIES INC. reported revenue of $247,337 and earnings per share (EPS) of $-0.27. Net income for the quarter was $-5M. Gross margin was 99.3%. Operating income came in at $-5M.

ADUR Dividend Yield and Income Analysis

ADURO CLEAN TECHNOLOGIES INC. (ADUR) does not currently pay a dividend. This is common among smaller companies in the Chemicals industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Materials dividend stocks may want to explore other Materials stocks or use the stock screener to filter by dividend yield.

ADUR Momentum and Technical Analysis Profile

ADURO CLEAN TECHNOLOGIES INC. (ADUR) has a momentum factor score of 50/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 17/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 47/100 reflects moderate short selling activity.

ADUR vs Competitors — Materials Sector Ranking and Peer Comparison

Within the Materials sector, ADURO CLEAN TECHNOLOGIES INC. (ADUR) ranks #239 out of 284 stocks based on the Blank Capital composite score. This places ADUR in the lower half of all Materials stocks in our coverage universe. Key competitors and sector peers include CF Industries Holdings, Inc. (CF) with a score of 56.6/100, Nutrien Ltd. (NTR) with a score of 56.6/100, CVR PARTNERS, LP (UAN) with a score of 55.6/100, LSB INDUSTRIES, INC. (LXU) with a score of 53.6/100, and ACME UNITED CORP (ACU) with a score of 51.2/100.

Comparing ADUR against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full ADUR vs S&P 500 (SPY) comparison to assess how ADURO CLEAN TECHNOLOGIES INC. stacks up against the broader market across all factor dimensions.

ADUR Next Earnings Date

No upcoming earnings date has been announced for ADURO CLEAN TECHNOLOGIES INC. (ADUR) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy ADUR? — Investment Thesis Summary

The quantitative profile for ADURO CLEAN TECHNOLOGIES INC. suggests caution. The quality score of 31/100 flags below-average profitability. The value score of 37/100 indicates premium valuation. High volatility (stability score 25/100) increases portfolio risk.

In summary, ADURO CLEAN TECHNOLOGIES INC. (ADUR) earns a Reduce rating with a composite score of 36.1/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on ADUR stock.

Related Resources for ADUR Investors

Explore more research and tools: ADUR vs S&P 500 comparison, top Materials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare ADUR head-to-head with peers: ADUR vs CF, ADUR vs NTR, ADUR vs UAN.