Loop Industries(LOOP) - 2025 Q3 - Quarterly Results

Financial Performance - Loop Industries reported a revenue increase of 100% for Q3 FY2025, reaching $52,000 compared to $26,000 in Q3 FY2024[21]. - The net loss for Q3 FY2025 was $11,912, 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 $27 to $81 million, compared to $108 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 $0.34 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 $21,940 million for the nine-month period, up from $15,995 million in 2023[31][32]. Expenses - Total expenses for Q3 FY2025 were $11,964, an increase of $7,694 from $4,270 in Q3 FY2024, primarily due to an impairment charge of $8,460 for machinery and equipment[20][25]. - Research and development expenses decreased by $456 to $1,377 in Q3 FY2025, compared to $1,833 in Q3 FY2024, mainly due to reduced employee compensation and external engineering costs[22]. - General and administrative expenses decreased by $310 to $2,148 in Q3 FY2025, down from $2,458 in Q3 FY2024, primarily due to lower insurance costs[23]. - Research and development expenses decreased by $2,802 to $5,559 million, compared to $8,361 million for the same period in 2023[29]. - General and administrative expenses decreased by $113 to $7,654 million, compared to $7,767 million for the same period in 2023[30]. Assets and Liabilities - Total current assets decreased to $994 million as of November 30, 2024, from $7,988 million in February 2024[38]. - Total liabilities increased to $11,562 million as of November 30, 2024, compared to $6,411 million in February 2024[38]. - Cash and cash equivalents decreased to $323 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].