Loop Industries, Inc. reported significant financial developments in its latest 10-K filing for the fiscal year ending February 28, 2025. The company generated revenues of $10.9 million, a substantial increase from $153,000 in the previous fiscal year. This growth was primarily driven by $10.4 million in licensing revenue from a technology agreement with Reed Societe Generale Group, alongside $368,000 from engineering services and $126,000 from sales of Loop™ PET resin. Despite this revenue increase, Loop Industries recorded a net loss of $15.1 million, an improvement from the $21.1 million loss reported in the prior year.
The company has made strategic advancements, including the establishment of a joint venture with Ester Industries Ltd. to construct an Infinite Loop™ manufacturing facility in India, which is expected to produce 70,000 tons of Loop branded PET resin annually. Additionally, Loop secured its first technology licensing agreement in Europe, marking a pivotal step in its commercialization strategy. The company also issued 1,044,430 shares of Series B Convertible Preferred Stock, raising $10.4 million to support its operational cash flow and joint venture projects.
Operationally, Loop Industries has focused on reducing expenses, with research and development costs decreasing to $6.9 million from $11.4 million in the previous year. General and administrative expenses also fell to $9.2 million from $10 million. The company’s employee headcount remained stable at 49, with a significant portion dedicated to research and development. Loop's Terrebonne, Québec facility continues to serve as a key operational hub, demonstrating the effectiveness of its depolymerization technology.
Looking ahead, Loop Industries aims to continue executing its corporate strategy, which includes further commercialization of its Infinite Loop™ technology, securing feedstock for its planned facilities, and identifying additional strategic partners. The company acknowledges the need for ongoing financing to support its growth initiatives, particularly for the construction of the India facility and other operational needs. Management believes that current liquidity will be sufficient to meet obligations for at least the next twelve months, although the ability to secure additional funding remains a critical factor for future success.
About Loop Industries, Inc.
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