Loop Industries(LOOP) - 2026 Q3 - Quarterly Results

Financial Performance - Loop Industries reported total revenues of $86,000 for Q3 2025, an increase of $34,000 compared to $52,000 in Q3 2024, primarily from engineering services provided to the India joint venture[13] - The net loss for Q3 2025 was $2.944 million, a decrease of $8.968 million from a net loss of $11.912 million in Q3 2024, attributed to reduced research and development and general administrative expenses[17] - For the nine-month period ended November 30, 2025, total revenues increased by $257,000 to $338,000, driven by $330,000 in engineering fees[20] - Net loss for the nine months ended November 30, 2025, was $9,595,000, a decrease from a net loss of $21,940,000 for the same period in 2024, indicating a 56.32% improvement[31] - The company reported a comprehensive loss of $2,937,000 for the three months ended November 30, 2025, compared to a comprehensive loss of $12,047,000 for the same period in 2024, indicating a 75.66% improvement[27] Expenses Management - Cash operating expenses for the quarter were $2.2 million, reflecting a year-over-year decrease of $1.1 million, with total available liquidity at $7.7 million[7] - Research and development expenses decreased by $410,000 to $967,000 in Q3 2025, compared to $1.377 million in Q3 2024, mainly due to lower external engineering costs[14] - General and administrative expenses decreased by $648,000 to $1.5 million in Q3 2025, compared to $2.148 million in Q3 2024, primarily due to reduced professional fees[15] - Total expenses for the three months ended November 30, 2025, were $2,626,000, significantly lower than $12,117,000 for the same period in 2024, marking a 78.32% decrease[27] Assets and Liquidity - Total assets as of November 30, 2025, were $11,290,000, a decrease from $18,578,000 as of February 28, 2025, showing a 39.66% decline[29] - Cash and cash equivalents at the end of the period were $5,204,000, down from $12,973,000 at the beginning of the period, representing a 59.92% decrease[31] Strategic Partnerships and Developments - Loop secured a multi-year offtake agreement with Nike for the sale of Twist™ polyester from its joint venture in India, marking a significant commercial milestone[4] - The company is progressing with project debt financing for the India joint venture, with term sheets received from international lenders[4] - Loop appointed Spencer Hart as Chief Financial Officer effective January 15, 2026, to lead financing discussions and support global expansion[6] - The company anticipates potential engineering services revenues and milestone payments from its projects in India and Europe, as well as benefits from partnerships with Nike and Reed Societe Generale Group[33] Technology and Sustainability Focus - Loop Industries is focused on developing technology to recycle PET plastic and polyester fiber, contributing to sustainability and a circular economy[32]