Technology and Innovation - Loop Industries is in the planning stages for constructing commercial scale facilities utilizing its Infinite Loop™ Technology, with financing discussions ongoing [76]. - Loop's rDMT and rMEG are positioned to address a global shortage in DMT and high demand for low carbon MEG, providing sustainable alternatives to traditional fossil fuel-derived products [82]. - Loop's technology can process a wider variety of PET feedstock, including complex and degraded plastics, which mechanical recycling cannot handle [79]. - Loop's depolymerization technology allows for infinite recycling of plastics without degrading material quality, creating a closed-loop system [80]. - The Infinite Loop™ Technology allows for the production of rDMT and rMEG, with a capacity of up to 70,000 M/T of PET resin output per year [97]. Joint Ventures and Partnerships - The company has entered into a joint venture with Reed Management SAS for a €35 million investment to fund the global commercialization of its technology [83]. - The India joint venture with Ester Industries aims to produce 70,000 tonnes of rDMT and 23,000 tonnes of rMEG annually, leveraging both companies' strengths [86]. - The company has established a strong relationship with Ester, which has been producing Loop™ PET for global brands for the past four years [86]. - The India joint venture (JV) requires initial funding of $165 million, with Loop and Ester each contributing 50% [88]. Financial Performance - Revenue for the three-month period ended August 31, 2024, decreased by $31 to $23, compared to $54 for the same period in 2023 [107]. - Research and development expenses for the same period decreased by $93 to $1,945, primarily due to a $356 decrease in employee compensation [108]. - General and administrative expenses decreased by $248 to $2,595, mainly due to a $233 decrease in insurance expenses [109]. - The net loss for the three-month period ended August 31, 2024, increased by $88 to $4,839, compared to $4,750 for the same period in 2023 [109]. - Revenue for the six-month period ended August 31, 2024, decreased by $52 to $29, compared to $81 for the same period in 2023 [113]. - Research and development expenses for the same period decreased by $2,346 to $4,182, down from $6,528 in 2023 [114]. - General and administrative expenses increased by $198 to $5,506, compared to $5,308 in 2023 [114]. - The net loss for the six-month period ended August 31, 2024, decreased by $1,723 to $10,028, compared to $11,751 in 2023 [115]. Cash Flow and Liabilities - Cash and cash equivalents on hand were $1,395, with an undrawn senior loan facility of $1,008 as of August 31, 2024 [117]. - Net cash used in operating activities was $6,775 for the six months ended August 31, 2024, compared to $11,017 in 2023 [126]. - Net cash used in investing activities was $325 for the six months ended August 31, 2024, compared to $5,290 in 2023 [127]. - The company borrowed $1,587 under the Credit Facility during the six months ended August 31, 2024 [127]. - Current liabilities exceeded current assets by $2,510 as of August 31, 2024 [117]. - The company has a long-term debt obligation of up to $3,410 related to the Financing Facility for the Terrebonne Facility expansion [120]. Future Plans and Capacity - The company anticipates that the financing from Reed will be completed by November 2024, with an initial tranche of €10 million expected [84]. - The planned Infinite Loop™ facility in Ulsan, South Korea, is expected to have an annual capacity of 70,000 metric tons of Loop™ PET resin, with groundbreaking planned for the first half of 2024 [101]. - Construction of the India facility is expected to be completed by the end of 2026, with commercial operations commencing in early 2027 [99]. - The Infinite Loop™ Europe facility aims to supply up to 70,000 metric tons of recycled PET plastic and polyester fiber to the European market [92]. - The company is targeting multi-year take or pay offtake agreements for planned Infinite Loop™ production to enhance project economics [103].

Financial Performance - The net loss for the three-month period ended May 31, 2024, decreased to $5.189 million from $7.001 million for the same period in 2023, a reduction of approximately 26%[7] - The company reported a comprehensive loss of $5.244 million for the three-month period ended May 31, 2024, compared to a comprehensive loss of $6.981 million for the same period in 2023[22] - The net loss for the three-month period ended May 31, 2024, was $5,189, an improvement of $1,812 compared to a net loss of $7,001 for the same period in 2023[41] Expenses - Total expenses for the quarter were $5.285 million, down from $7.088 million in the same quarter of the previous year, representing a decrease of about 25%[22] - Research and development expenses decreased by $2.253 million to $2.237 million compared to $4.490 million in the same period last year, a reduction of approximately 50%[22] - General and administrative expenses increased by $446 to $2,911 for the three-month period ended May 31, 2024, compared to $2,465 for the same period in 2023[42] - The increase in general and administrative expenses was mainly due to a $636 rise in professional fees related to partnerships, partially offset by a $211 decrease in insurance costs[42] - Total expenses for the three-month period ended May 31, 2024, were $5,195, a decrease of $1,833 from $7,028 in the same period in 2023[41] Cash Position - Cash and cash equivalents as of May 31, 2024, were $5.291 million, down from $6.958 million at the end of the previous year[23] - Cash, cash equivalents, and restricted cash at the end of the period were $5,291, down from $22,970 at the end of the same period in 2023[45] Strategic Initiatives - Loop Industries is progressing towards the Infinite Loop™ manufacturing facility in India, focusing on low-cost polyester fiber waste from the textile industry[27] - Loop Industries aims to license its technology to partners in higher-cost manufacturing countries as part of its strategic focus on global low-cost manufacturing environments[39] - The Infinite Loop™ India facility is expected to provide attractive economic returns as part of Loop's strategy to tackle the ongoing plastic waste crisis[39] - Loop Industries is committed to contributing to a circular economy by manufacturing 100% recycled PET plastic and polyester fiber[35] Future Projections - The company projects a prospective run rate for cash expenses of approximately $1 million per month for the remainder of fiscal 2025, excluding project costs[3] - The company is reviewing contingency plans for bridge financing due to its current liquidity position, anticipating the closing of a financing transaction with Reed Management SAS by the end of the second quarter of fiscal 2025[12] Shareholder Information - The weighted average common shares outstanding increased slightly to 47,535,413 from 47,516,104 year-over-year[22] - The decrease in research and development expenses was primarily due to a $1,233 reduction in machinery and equipment purchases, a $527 decrease in external engineering costs, and a $271 decrease in employee compensation expenses[32]

Business Expansion and Joint Ventures - Loop Industries aims to construct commercial scale facilities for its Infinite Loop™ Technology, with financing discussions currently underway [80]. - The India joint venture with Ester Industries is expected to produce 70,000 tonnes of rDMT and 23,000 tonnes of rMEG annually [93]. - Initial funding required for the India JV is projected at $165 million, with both Loop and Ester contributing 50% of the equity capital [96]. - The Infinite Loop™ India facility is anticipated to commence commercial operations in early 2027 [95]. - The India JV will leverage local expertise in sourcing PET plastic and polyester fiber waste feedstocks [92]. - The company is pursuing joint ventures with SKGC in Asia and Europe to build and operate Infinite Loop™ manufacturing facilities [115]. Technology and Sustainability - Loop's rDMT and rMEG are positioned to address a global shortage in DMT and high demand for low carbon MEG, providing sustainable alternatives [89][90]. - The company’s technology allows for the recycling of a wider variety of PET feedstock, including complex and degraded plastics [81]. - Loop's depolymerization technology enables the production of virgin-quality PET resin suitable for food-grade packaging [78]. - Loop's technology offers a closed-loop system for plastic waste, allowing for infinite recycling without degrading material quality [86]. - The Infinite Loop™ Technology aims to transition from fossil fuels to a circular economy by recycling waste plastic into PET plastic and polyester fiber [111]. Financial Performance - Revenue for the three-month period ended May 31, 2024, decreased by $21 to $6, compared to $27 for the same period in 2023, resulting from initial deliveries of Loop™ PET resin [126]. - Research and development expenses for the same period decreased by $2,253 to $2,237, primarily due to a $1,233 decrease in machinery and equipment purchases and a $527 decrease in external engineering costs [127]. - General and administrative expenses increased by $446 to $2,911, mainly due to a $636 increase in professional fees related to partnerships with Reed and Ester [128]. - The net loss for the three-month period ended May 31, 2024, decreased by $1,812 to $5,189, compared to $7,001 for the same period in 2023 [130]. - The company’s liquidity position consists of cash and cash equivalents of $5,291 as of May 31, 2024 [131]. - The Company estimates that current available liquidity and forecasted net cash flows will not be sufficient to meet its obligations and budgeted expenditures for the next twelve months [132]. Cash Flow and Financing - During the three months ended May 31, 2024, the Company used $3,915 in operating activities, a decrease from $5,504 in the same period in 2023, primarily due to reduced operating expenses [142]. - The Company used $176 in investing activities during the three months ended May 31, 2024, compared to $2,122 in the same period in 2023, with investments focused on patent technology [143]. - The Company borrowed $2,517 under the Credit Facility during the three months ended May 31, 2024, while repaying $25 of long-term debt [144]. - The interest rate on the Financing Facility was increased from 2.36% to 3.36% as per the Second Financing Facility Amendment [137]. - The Company has a long-term debt obligation of up to $3,390 related to the Financing Facility, with disbursements totaling $3,390 received to date [135]. - A total of $37 of the principal amount was repaid in monthly installments in the fiscal year ended February 29, 2024, with the remainder repayable in 72 monthly installments [136]. - The Company is seeking additional financing through various means, including debt and equity issuance, but there is no assurance of success [133]. - The Company is in compliance with the minimum equity covenant of the Credit Facility as of May 31, 2024 [139]. - The net decrease in cash for the three months ended May 31, 2024, was $1,667, compared to a decrease of $7,621 in the same period in 2023 [140].

Financial Performance - Revenues for Q4 2024 increased to $45 million, up from $12 million in Q4 2023, representing a $33 million increase [18]. - The net loss for Q4 2024 was $5.1 million, compared to a net income of $5.4 million in Q4 2023, reflecting a $10.5 million unfavorable change [21]. - Loop Industries reported total revenues for the fiscal year 2024 of $153 million, down from $173 million in fiscal year 2023, a decrease of $20 million [24]. - Revenue for the year ended February 29, 2024, was $153,000, a decrease of 11.6% from $173,000 in 2023 [30]. - The net loss for the year ended February 29, 2024, decreased by $214 to $21,087 compared to $21,301 for the same period in 2023 [28]. - The company reported a comprehensive loss of $21,016 for the year ended February 29, 2024, compared to $22,346 in 2023 [30]. Expenses - Research and development expenses for Q4 2024 rose to $3.018 million, an increase of $805, primarily due to a significant inventory write-down [19]. - General and administrative expenses for the fiscal year 2024 decreased to $9.988 million, down from $20.429 million in fiscal year 2023, a reduction of $10.441 million [26]. - Research and development expenses decreased by $5,967 to $11,379, a reduction of 34.4% compared to $17,346 in 2023 [30]. - General and administrative expenses decreased by $10,441 to $9,988, a reduction of 51.2% from $20,429 in 2023 [30]. - Total expenses for the year ended February 29, 2024, were $21,902, down 42.5% from $38,325 in 2023 [30]. Cash Flow and Assets - Cash and cash equivalents decreased significantly from $29,591 in 2023 to $6,958 in 2024, a decline of 76.5% [32]. - Total assets decreased from $40,560 in 2023 to $20,553 in 2024, a reduction of 49.3% [33]. Strategic Initiatives - The company established a 50/50 joint venture with Ester to create an Infinite Loop™ manufacturing facility in India, with an estimated capital investment of $165 million [4]. - Loop and SKGC are exploring the construction of a monomer facility in Ulsan, South Korea, to capitalize on the growing market for DMT and MEG [6]. - Loop anticipates a 5% annual royalty payment on sales from the new manufacturing facility in India, contributing to strong cash flows [4]. - Financing negotiations with Reed are progressing well, with expectations to finalize binding agreements by the end of Q2 FY 2025 [10]. Product Development - The company launched the Cloudeasy Cyclon shoe in collaboration with On, utilizing 100% recycled polyester fiber from Loop's Infinite Loop™ technology [11]. Sustainability Goals - Loop Industries aims to accelerate the shift toward sustainable PET plastic and polyester fiber, contributing to a circular economy by recycling waste plastics [37]. Shareholder Information - The weighted average common shares outstanding increased slightly from 47,418,949 in 2023 to 47,522,483 in 2024 [30].

Revenue Performance - Revenues for the three-month period ended February 29, 2024, increased by $33 to $45, compared to $12 for the same period in 2023, driven by initial deliveries of Loop™ PET resin [221]. - For the fiscal year ended February 29, 2024, revenues decreased by $20 to $153, compared to $173 for the same period in 2023, attributed to initial deliveries of Loop™ PET resin [227]. - Revenue for the year ended February 29, 2024, was $153,000, a decrease of 11.6% compared to $173,000 for the year ended February 28, 2023 [287]. Net Loss and Financial Performance - The net loss for the three-month period ended February 29, 2024, increased by $10,514 to $5,091, compared to a net income of $5,423 for the same period in 2023, largely due to a prior gain on land disposition of $9,980 [224]. - The net loss for the year ended February 29, 2024, decreased by $214 to $21,087, compared to $21,301 for the same period in 2023 [230]. - The Company incurred a net loss of $21.1 million for the year ended February 29, 2024, with net cash flows used from operating activities amounting to $18.0 million [276]. - Comprehensive loss decreased to $21,016,000 from $22,346,000, reflecting a 5.9% improvement [287]. - Basic and diluted net loss per share was $0.44, compared to $0.45 in the previous year, indicating a minor improvement [287]. Research and Development Expenses - Research and development expenses for the three-month period ended February 29, 2024, rose by $805 to $3,018, primarily due to an $866 increase in plant and laboratory operating expenses, including an inventory write-down of $817 [222]. - Total research and development expenses for the fiscal year ended February 29, 2024, were $11,379, a decrease of $5,967 from the previous year [226]. - Research and development expenses decreased by $5,967 to $11,379 for the year ended February 29, 2024, compared to $17,346 for the same period in 2023 [228]. - Research and development expenses primarily relate to process development, customer trials, and testing of pre-production samples, and are presented net of related tax credits and government grants [313]. Cash Flow and Liquidity - Cash and cash equivalents on hand were $6,958 as of February 29, 2024, with an undrawn senior loan facility of $2,579 [230]. - Net cash used in operating activities was $18,034 for the year ended February 29, 2024, compared to $34,892 for the year ended February 28, 2023 [244]. - The company has incurred net losses and negative cash flow from operating and investing activities since its inception, with no material revenues from customers [302]. - Management estimates that current available liquidity and forecasted net cash flows will not be sufficient to meet the company's obligations over the next twelve months [303]. - As of February 29, 2024, the Company's available liquidity was $9.5 million, consisting of cash and cash equivalents of $6.9 million and an undrawn senior loan facility of $2.6 million [276]. General and Administrative Expenses - General and administrative expenses for the three-month period ended February 29, 2024, increased by $22 to $2,221, primarily due to an increase in stock-based compensation [223]. - General and administrative expenses decreased by $10,441 to $9,988 for the year ended February 29, 2024, compared to $20,429 for the same period in 2023 [229]. - General and administrative expenses for the year ended February 29, 2024 were $9,988,000, down 51.1% from $20,429,000 in the prior year [390]. Debt and Financing - The company is pursuing financing for its planned manufacturing facilities, which is critical for moving to the next stage of strategic development [218]. - The Company has a long-term debt obligation of up to $3,390 related to the expansion of the Terrebonne Facility, with repayments structured over 72 monthly installments [234]. - The company is seeking to finalize negotiations for previously announced financing initiatives on acceptable terms [232]. - Total repayments due on the company's indebtedness over the next five years amount to $3,511 [371]. - Interest expense on the Investissement Québec loan for the year ended February 29, 2024, was $84, compared to $86 in 2023 [366]. Inventory and Assets - The company reported total inventories of $102,000 as of February 29, 2024, a decrease from $727,000 in the previous year, with an allowance for inventory write-down of $817,000 recorded [343]. - The total current assets decreased from $36.4 million as of February 28, 2023, to $8.0 million as of February 29, 2024 [282]. - The total stockholders' equity decreased from $33.7 million as of February 28, 2023, to $14.1 million as of February 29, 2024 [284]. Strategic Developments - A strategic partnership with Ester was announced to build an Infinite Loop™ manufacturing facility in India, expected to commence commercial operations in early 2027 [212]. - The planned facility in Ulsan, South Korea, is expected to supply up to 70,000 metric tons per year of Loop™ PET resin, with construction timing currently under review [215]. - The company intends to continue executing its corporate strategy, focusing on commercialization of Infinite Loop™ Technology and securing financing for operations and projects [248]. Stock-Based Compensation - Stock-based compensation expenses were $1,422,000, significantly lower than $10,086,000 in the previous year [294]. - Stock-based compensation attributable to stock options for the year ended February 29, 2024 amounted to $644,000, compared to $1,316,000 in 2023 [393]. - Stock-based compensation attributable to RSUs for the year ended February 29, 2024, amounted to $778, a significant decrease from $8,770 in 2023 [396]. - The total number of outstanding restricted stock units (RSUs) at the end of 2024 was 4,368,897, compared to 3,888,618 at the end of 2023, reflecting an increase of approximately 12.3% [395].

United States Securities and Exchange Commission Washington, D.C. 20549 Commission File No. 000-54768 Loop Industries, Inc. (Exact name of Registrant as specified in its charter) Nevada 27-2094706 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ (I.R.S. Employe ...

Business Expansion and Facilities - Loop Industries is planning to construct the Infinite Loop™ commercial scale facilities, with the first facility in Ulsan, South Korea, expected to have an annual capacity of 70,000 metric tons of Loop™ PET resin[100]. - Loop anticipates that the construction of the Ulsan facility will be completed by the end of 2025, with plans for at least three additional facilities by 2030[100]. - Loop and SKGC plan to build four Infinite Loop™ manufacturing facilities throughout Asia by 2030, with the first facility in Ulsan, South Korea, expected to break ground by the end of 2023[113][114]. - The planned Infinite Loop™ manufacturing facility in Europe aims to supply up to 70,000 M/T of virgin quality, 100% recycled PET plastic and polyester fiber to the market[102]. Technology and Sustainability - Loop's depolymerization technology allows for the processing of a wider variety of PET feedstock, including complex and degraded plastics, which enhances its marketability and sustainability[89]. - Loop's technology can recycle plastics an infinite number of times without degrading quality, creating a closed-loop system for plastic waste[88]. - The company believes it can sell Loop™ PET resin at a premium price due to increasing regulatory requirements for recycled content and the virgin-quality of its product[92]. - Loop's technology allows for the production of virgin-quality, 100% recycled PET resin suitable for food-grade packaging[123]. - The company’s GEN II technology is validated for producing virgin-quality PET resin suitable for food contact applications[142]. - The company received a No Objection Letter from Health Canada confirming that its PET is suitable for use in the manufacture of water bottles and food contact articles[144]. - Loop's technology is positioned to meet the sustainability objectives of major consumer brands transitioning to recyclable materials[91]. Financial Performance - Loop reported revenues of $81 from the sale of Loop™ PET resin produced from monomers manufactured at the Terrebonne Facility in the six-month period ended August 31, 2023[112]. - Revenue for the three-month period ended August 31, 2023, decreased by $81 to $54, compared to $135 for the same period in 2022[149]. - Revenue for the six-month period ended August 31, 2023, decreased by $54 to $81, compared to $135 for the same period in 2022[156]. - The net loss for the three-month period ended August 31, 2023, decreased by $2,955 to $4,750, compared to $7,705 for the same period in 2022[152]. - The net loss for the six-month period ended August 31, 2023, decreased by $13,960 to $11,751 compared to $25,711 for the same period in 2022, primarily due to a decrease in general and administrative expenses of $9,739 and a $4,024 decrease in research and development expenses[159]. Expenses and Cost Management - Research and development expenses for the three-month period ended August 31, 2023, decreased by $1,713 to $2,038, compared to $3,751 for the same period in 2022[150]. - General and administrative expenses for the three-month period ended August 31, 2023, decreased by $1,168 to $2,843, compared to $4,011 for the same period in 2022[151]. - Research and development expenses for the six-month period ended August 31, 2023, decreased by $4,024 to $6,528, compared to $10,552 for the same period in 2022[157]. - General and administrative expenses for the six-month period ended August 31, 2023, decreased by $9,739 to $5,308, compared to $15,047 for the same period in 2022[158]. Capital and Financing - The company is currently engaged in discussions to secure financing for its planned manufacturing facilities, which will be sequenced based on financing outcomes[83]. - The company is actively pursuing a growth strategy and evaluating financing plans to raise capital for commercial operations and ongoing operations, requiring significant capital for planned facilities in Europe, Asia, and North America[163]. - The company's liquidity position includes cash and cash equivalents of $13,365 as of August 31, 2023, along with an undrawn senior loan facility of $2,587[160]. - The company has a long-term debt obligation of up to $3,400 related to the expansion of the Terrebonne Facility, with a first disbursement of $1,633 and a second disbursement of $1,767 received[165]. - The company has a Credit Facility allowing borrowings of up to $2,587, which was undrawn as of August 31, 2023[167]. Employee and Operational Insights - The company has 70 employees as of August 31, 2023, with 24 in research and development, 32 in engineering and operations, and 14 in administrative functions[145]. - During the six-month period ended August 31, 2023, the company used $11,017 in operating activities, a decrease from $19,408 in the same period in 2022, attributed to reduced operating expenses after completing upgrades to the Terrebonne Facility[170]. - The company used $5,290 in investing activities during the six-month period ended August 31, 2023, compared to $1,470 in the same period in 2022, with significant deposits made on long-lead equipment for a commercial project[171]. - The company made investments in intangible assets of $225 during the three-month period ended August 31, 2023, compared to $141 in the same period in 2022, focusing on patent technology[171]. - The company repaid $32 of long-term debt during the three months ended August 31, 2023[172]. Market Opportunities - The Asian market represents approximately 70% of global PET consumption, providing a significant growth opportunity for Loop's technology[98]. - Major brands like Danone and Coca-Cola have committed to using 100% and 50% recycled content in their packaging by 2025 and 2030, respectively[121]. - The global annual market demand for PET plastic and polyester fiber is estimated to be approximately $180 billion[115]. - The commercialization strategy focuses on joint venture projects with SKGC, which require lower equity investment and offer higher expected returns[125].

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File No. 000-54768 Loop Industries, Inc. Registrant's telephone number, including area code (450) 951-8555 Securities registered pursu ...

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission File No. 000-54768 Loop Industries, Inc. (Exact name of Registrant as specified in its charter) Nevada 27-2094706 (I.R.S. Employer Identi ...

Loop Industries, Inc. (NASDAQ:LOOP) Q3 2023 Earnings Conference Call January 13, 2023 11:00 AM ET Company Participants Kevin O’Dowd - Vice President of Communications and Investor Relations Daniel Solomita - Founder and Chief Executive Officer Conference Call Participants Gerard Sweeney - ROTH Capital Partners, LLC David Quezada - Raymond James Ltd. Operator Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Loop Industries [Second] Quarter 2023 Corporate Update Call. During today's p ...