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Loop Industries(LOOP) - 2025 Q3 - Quarterly Results
LOOPLoop Industries(LOOP)2025-01-14 23:38

Financial Performance - Loop Industries reported a revenue increase of 100% for Q3 FY2025, reaching 52,000comparedto52,000 compared to 26,000 in Q3 FY2024[21]. - The net loss for Q3 FY2025 was 11,912,upfrom11,912, up from 4,244 in Q3 FY2024, largely attributed to the impairment of assets[25]. - Revenues for the nine-month period ended November 30, 2024, decreased by 27to27 to 81 million, compared to 108millionforthesameperiodin2023[28].−Thecompanyreportedanetlosspershareof108 million for the same period in 2023[28]. - The company reported a net loss per share of 0.46 for the nine-month period ended November 30, 2024, compared to 0.34inthesameperiodof2023[35].−Impairmentofassetsexpenseincreasedby0.34 in the same period of 2023[35]. - Impairment of assets expense increased by 8,460 million due to the termination of a joint venture arrangement, resulting in a net loss of 21,940millionforthenine−monthperiod,upfrom21,940 million for the nine-month period, up from 15,995 million in 2023[31][32]. Expenses - Total expenses for Q3 FY2025 were 11,964,anincreaseof11,964, an increase of 7,694 from 4,270inQ3FY2024,primarilyduetoanimpairmentchargeof4,270 in Q3 FY2024, primarily due to an impairment charge of 8,460 for machinery and equipment[20][25]. - Research and development expenses decreased by 456to456 to 1,377 in Q3 FY2025, compared to 1,833inQ3FY2024,mainlyduetoreducedemployeecompensationandexternalengineeringcosts[22].−Generalandadministrativeexpensesdecreasedby1,833 in Q3 FY2024, mainly due to reduced employee compensation and external engineering costs[22]. - General and administrative expenses decreased by 310 to 2,148inQ3FY2025,downfrom2,148 in Q3 FY2025, down from 2,458 in Q3 FY2024, primarily due to lower insurance costs[23]. - Research and development expenses decreased by 2,802to2,802 to 5,559 million, compared to 8,361millionforthesameperiodin2023[29].−Generalandadministrativeexpensesdecreasedby8,361 million for the same period in 2023[29]. - General and administrative expenses decreased by 113 to 7,654million,comparedto7,654 million, compared to 7,767 million for the same period in 2023[30]. Assets and Liabilities - Total current assets decreased to 994millionasofNovember30,2024,from994 million as of November 30, 2024, from 7,988 million in February 2024[38]. - Total liabilities increased to 11,562millionasofNovember30,2024,comparedto11,562 million as of November 30, 2024, compared to 6,411 million in February 2024[38]. - Cash and cash equivalents decreased to 323millionasofNovember30,2024,from323 million as of November 30, 2024, from 6,958 million at the beginning of the period[40]. Strategic Initiatives - Loop closed financing and technology licensing transactions with Reed Societe Generale Group, generating total cash proceeds of $20.8 million (€20 million) to support its commercialization strategy[2]. - The Infinite Loop™ India manufacturing facility is expected to break ground in Q2 2025, with commercial operations anticipated to commence in 2027[8]. - Loop's joint venture with Ester Industries in India aims to produce 100% recycled polyester fiber and bottle-grade PET resin from waste materials[10][11]. - The company plans to utilize proceeds from the Reed transactions to finance its share of the initial equity capital required for the Indian facility[12]. - Loop Industries aims to expand its market presence in Europe and advance joint ventures in India as part of its growth strategy[43]. Revenue Generation - Loop's engineering services division has started generating revenue, with plans to expand service offerings to partners and licensees[17]. - The company plans to utilize impaired equipment in a future commercial production facility, although deployment plans are not fully developed[31].