Loop Industries Reports Third Quarter Fiscal 2026 Results and Provides Update on Progress Towards Commercialization
Rhea-AI Summary
Loop Industries (Nasdaq: LOOP) reported Q3 fiscal 2026 results and project updates on January 14, 2026. Key commercial milestones include a multi-year offtake agreement with Nike for Twist polyester from the India JV and a detailed engineering award to Toyo for the India facility. Project debt term sheets have been received for the India JV, and site selection is in final stages for a European Infinite Loop facility with Reed Societe Generale Group.
Q3 highlights: revenues $86k (up $34k YoY), net loss $2.944M, cash operating expenses $2.2M (down $1.1M YoY), and total available liquidity $7.7M.
Positive
- Offtake agreement with Nike for India JV
- Detailed engineering contract awarded to Toyo for India facility
- Q3 revenues $86k (up $34k YoY)
- Q3 cash operating expenses $2.2M (decrease of $1.1M YoY)
Negative
- Q3 net loss $2.944M and nine-month net loss $9.595M
- Total available liquidity $7.7M at quarter end
- Cash and cash equivalents declined to $5.204M from $12.973M (Feb 28, 2025)
- Interest expense increase from accrued PIK dividends: $360k in Q3 and $1.041M nine months
News Market Reaction
On the day this news was published, LOOP gained 3.54%, reflecting a moderate positive market reaction. Argus tracked a trough of -3.6% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $56M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LOOP was down 2.59% while peers were mixed: ALTO +2.64%, FEAM +5.34%, TSE -6.24%, FSI -2.58%, NTIC -0.83%. Moves do not reflect a unified sector trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 05 | Management change | Positive | +3.5% | Appointment of Spencer Hart as CFO and capital markets lead. |
| Dec 16 | Project milestone | Positive | -4.7% | India JV awards detailed engineering contract to Toyo for Infinite Loop. |
| Nov 10 | Commercial agreement | Positive | -15.0% | Multi-year Nike offtake agreement for Twist™ polyester from India facility. |
| Oct 15 | Earnings update | Positive | +3.8% | Q2 results with narrower losses and commercialization progress in India/Europe. |
| Sep 16 | Commercial agreement | Positive | -2.6% | Offtake deal with Taro Plast for Loop™ DMT from planned India facility. |
Recent news has often been strategically positive, yet the stock showed negative reactions more frequently than positive, suggesting a tendency to sell off on good developments.
Over the past months, Loop announced multiple commercialization steps for Infinite Loop™ India and Europe. Key milestones included offtake agreements with Nike and Taro Plast, a detailed engineering award to Toyo for the 70,000 MT India plant, and progress on debt syndication. Financial updates showed narrowing net losses and reduced cash operating expenses, but limited revenues. Management also strengthened the finance function by appointing Spencer Hart as CFO. Today’s results continue this theme of operational progress against a backdrop of ongoing losses and tight liquidity.
Market Pulse Summary
This announcement combines commercialization progress with tighter cost control and ongoing losses. Q3 revenue reached $86K, largely from India JV engineering, while net loss narrowed to $2.944M and nine‑month loss to $9.595M. Cash operating expenses fell to $2.2M, and available liquidity was $7.7M, alongside a stockholders’ deficit of $7.323M. Investors may watch future financing for ELITe, engineering revenue ramp, and balance sheet developments.
Key Terms
offtake agreement financial
joint venture financial
equity accounted investment financial
equity method investments financial
series b convertible preferred stock financial
stock-based compensation financial
AI-generated analysis. Not financial advice.
OFFTAKE AGREEMENT FOR INFINITE LOOP INDIA WITH NIKE
AWARD OF DETAILED ENGINEERING CONTRACT FOR INFINITE LOOP INDIA TO TOYO ENGINEERING
CONTINUED PROGRESS ON PROJECT DEBT FINANCING FOR INFINITE LOOP INDIA
SPENCER HART JOINS LOOP AS CFO
LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET ON THURSDAY, JANUARY 15, 2026.
MONTRÉAL, QUEBEC / ACCESS Newswire / January 14, 2026 / Loop Industries, Inc. (Nasdaq:LOOP) (the "Company," "Loop," "we," "us," or "our"), today reported its consolidated financial results for the third quarter of fiscal year 2026 and provided status updates on its development projects.
Infinite Loop™ India
Offtake agreement with Nike for India JV: In November 2025, Loop announced the execution of a multi-year offtake agreement with Nike, Inc. ("Nike") for the sale of Twist™ polyester from our JV with Ester Industries Limited ("ELITe"). As the global leader in athletic footwear and apparel, Nike will be an anchor customer for this facility as we continue to advance negotiations with additional apparel and CPG brands to secure further offtake agreements.
Detailed Engineering contract awarded for India JV: In December 2025, ELITe awarded the detailed engineering contract to Toyo Engineering India Private Limited. Toyo's work will be the final phase of the engineering that lasts through the completion of the construction of the plant.
Project debt financing for India JV: The debt syndication process for financing the construction of ELITe's India facility is progressing, and term sheets have been received from international lenders.
European Partnership with Reed Societe Generale Group
Status update: Loop and Reed Societe Generale Group are at the final stage of selecting a location for the first Infinite Loop™ facility in Europe. After the site is secured, the engineering phase will begin along with work on the modular construction solution to enhance project profitability and shorten the construction timeline. Loop expects to generate revenues from providing these engineering services.
Management Update
Loop appointed Spencer Hart as Chief Financial Officer effective January 15, 2026. Mr. Hart has served as a member of Loop's Board of Directors since February 2025 and will remain on the board. With over 30 years of experience in investment banking and capital markets, Mr. Hart will help lead the financing discussions and be instrumental as Loop continues to scale its proprietary technology and expand its commercial footprint globally.
Financial highlights
Cash operating expenses* for the quarter were
*Cash operating expenses include research & development and general & administrative expenses, less stock-based compensation expenses.
CEO Comment
"Infinite Loop India project continues to make progress on multiple fronts. Having previously secured the site in the Gujarat Province, we have achieved several milestones necessary to advance the facility to the construction phase. On the commercial front, we secured our foundational anchor customer through a major off-take agreement with Nike. On the engineering front, our engagement with Toyo will provide the final engineering work needed for the construction of the India facility. We are also continuing to make headway in raising Loop equity and in securing project debt financing at ELITe," said Daniel Solomita, Founder and CEO of Loop. "The European project is progressing, and we are in the final stages of site selection. Once the site is secured, we anticipate that Loop will begin earning revenue from engineering services and receive milestone licensing payments as per the agreement with Reed Societe Generale Group."
Corporate Update Call
Senior Management of Loop will host a corporate update call, followed by a question-and-answer session, which can be accessed via the dial-in numbers below.
Date: Thursday, January 15, 2026
Time: 8:45 am Eastern Time
Participant joining details (by Telephone):
Joining by Telephone:
United States (Local): +1 646 844 6383
United States (Toll-Free): +1 833 470 1428
Access Code: 285041
OR
Registration Link: https://www.netroadshow.com/events/login/LE9zwo3j9C25QsPNHZdxNqACkPcpWGEdOB1
- Avoid wait time - Bypass speaking with an operator to join the call
- Receive a Calendar Invitation with call access details including your unique PIN
Results of Operations
All monetary amounts are in thousands of U.S. dollars unless otherwise specified.
The following table summarizes our operating results for the three-month periods ended November 30, 2025 and 2024, in thousands of U.S. Dollars.
Three months ended November 30, | ||||||||||||
Change | ||||||||||||
2025 | 2024 | favorable / (unfavorable) | ||||||||||
Revenues | ||||||||||||
Products | $ | - | $ | 52 | $ | (52 | ) | |||||
Services | 86 | - | 86 | |||||||||
Total revenues | 86 | 52 | 34 | |||||||||
Expenses | ||||||||||||
Research and development | ||||||||||||
Employee compensation | 653 | 770 | 117 | |||||||||
Stock-based compensation | 82 | 106 | 24 | |||||||||
Machinery and equipment expenditures | - | 41 | 41 | |||||||||
Plant and laboratory operating expenses | 183 | 210 | 27 | |||||||||
External engineering | 18 | 86 | 68 | |||||||||
Other | 31 | 164 | 133 | |||||||||
Total research and development | 967 | 1,377 | 410 | |||||||||
General and administrative | ||||||||||||
Employee compensation | 418 | 576 | 158 | |||||||||
Stock-based compensation | 235 | 224 | (11 | ) | ||||||||
Professional fees | 157 | 595 | 438 | |||||||||
Insurance | 426 | 453 | 27 | |||||||||
Other | 264 | 300 | 36 | |||||||||
Total general and administrative | 1,500 | 2,148 | 648 | |||||||||
Impairment of assets | - | 8,460 | 8,460 | |||||||||
Loss on equity accounted investment | 65 | - | (65 | ) | ||||||||
Depreciation and amortization | 94 | 132 | 38 | |||||||||
Interest and other financial expenses | 436 | 110 | (326 | ) | ||||||||
Interest income | (43 | ) | (23 | ) | 20 | |||||||
Foreign exchange loss (gain) | 11 | (240 | ) | (251 | ) | |||||||
Total expenses | 3,030 | 11,964 | 8,934 | |||||||||
Net loss | $ | (2,944 | ) | $ | (11,912 | ) | $ | 8,968 | ||||
Third Quarter Ended November 30, 2025
Revenues
Revenues for the three-month period ended November 30, 2025, increased
Research and Development
Research and development expense for the three-month period ended November 30, 2025, decreased
General and administrative expenses
General and administrative expenses for the three-month period ended November 30, 2025, decreased
Interest and other financial expenses
Interest and other financial expenses increased by
Net Loss
The net loss for the three-month period ended November 30, 2025, decreased
Nine Months Ended November 30, 2025
The following table summarizes our operating results for the nine-month periods ended November 30, 2025 and 2024, in thousands of U.S. Dollars.
Nine months ended November 30, | ||||||||||||
2025 | 2024 | Change | ||||||||||
Revenues | ||||||||||||
Products | $ | 8 | $ | 81 | $ | (73 | ) | |||||
Services | 330 | - | 330 | |||||||||
Total revenues | 338 | 81 | 257 | |||||||||
Expenses | ||||||||||||
Research and development | ||||||||||||
Employee compensation | 1,951 | 2,647 | 696 | |||||||||
Machinery and equipment expenditures | 2 | 44 | 42 | |||||||||
Stock-based compensation | 426 | 367 | (59 | ) | ||||||||
Plant and laboratory operating expenses | 562 | 677 | 115 | |||||||||
External engineering | 82 | 1,365 | 1,283 | |||||||||
Other | 159 | 459 | 300 | |||||||||
Total research and development | 3,182 | 5,559 | 2,377 | |||||||||
General and administrative | ||||||||||||
Professional fees | 1,130 | 2,858 | 1,728 | |||||||||
Employee compensation | 1,411 | 1,796 | 385 | |||||||||
Stock-based compensation | 545 | 695 | 150 | |||||||||
Insurance | 1,301 | 1,421 | 120 | |||||||||
Other | 631 | 884 | 253 | |||||||||
Total general and administrative | 5,018 | 7,654 | 2,636 | |||||||||
Impairment of assets | - | 8,460 | 8,460 | |||||||||
Loss on equity accounted investment | 410 | - | (410 | ) | ||||||||
Depreciation and amortization | 290 | 398 | 108 | |||||||||
Interest and other financial expenses | 1,273 | 289 | (984 | ) | ||||||||
Interest income | (212 | ) | (155 | ) | 57 | |||||||
Foreign exchange loss (gain) | (28 | ) | (184 | ) | (156 | ) | ||||||
Total expenses | 9,933 | 22,021 | 12,088 | |||||||||
Net loss | $ | (9,595 | ) | $ | (21,940 | ) | $ | 12,345 | ||||
Revenues
Revenues for the nine-month period ended November 30, 2025, increased
Research and Development
Research and development expense for the nine-month period ended November 30, 2025, decreased
General and administrative expenses
General and administrative expenses for the nine-month period ended November 30, 2025, decreased
Loss on equity accounted investment
Loss on equity accounted investment increased by
Interest and other financial expenses
Interest and other financial expenses increased by
Net Loss
The net loss for the nine-month period ended November 30, 2025, decreased
Loop Industries, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
(in thousands of U.S. dollars, except per share data) | Three Months Ended | Nine Months Ended | ||||||||||||||
November 30, 2025 | November 30, 2024 | November 30, 2025 | November 30, 2024 | |||||||||||||
Revenues: | ||||||||||||||||
Products | $ | - | $ | 52 | $ | 8 | $ | 81 | ||||||||
Services | 86 | - | 330 | - | ||||||||||||
Total revenues | 86 | 52 | 338 | 81 | ||||||||||||
Expenses: | ||||||||||||||||
Research and development | 967 | 1,377 | 3,182 | 5,559 | ||||||||||||
General and administrative | 1,500 | 2,148 | 5,018 | 7,654 | ||||||||||||
Depreciation and amortization | 94 | 132 | 290 | 398 | ||||||||||||
Loss on equity accounted investments | 65 | - | 410 | - | ||||||||||||
Impairment of machinery & equipment | - | 8,460 | - | 8,460 | ||||||||||||
Total expenses | 2,626 | 12,117 | 8,900 | 22,071 | ||||||||||||
Other loss (income): | ||||||||||||||||
Interest and other financial expenses | 436 | 110 | 1,273 | 289 | ||||||||||||
Interest income | (43 | ) | (23 | ) | (212 | ) | (155 | ) | ||||||||
Foreign exchange loss (gain) | 11 | (240 | ) | (28 | ) | (184 | ) | |||||||||
Total other loss (income) | 404 | (153 | ) | 1,033 | (50 | ) | ||||||||||
Net loss | (2,944 | ) | (11,912 | ) | (9,595 | ) | (21,940 | ) | ||||||||
Other comprehensive income (loss): | ||||||||||||||||
Foreign currency translation adjustment | 7 | (135 | ) | (18 | ) | (147 | ) | |||||||||
Comprehensive loss | $ | (2,937 | ) | $ | (12,047 | ) | $ | (9,613 | ) | $ | (22,087 | ) | ||||
Net loss per share | ||||||||||||||||
Basic and diluted | $ | (0.06 | ) | $ | (0.25 | ) | $ | (0.20 | ) | $ | (0.46 | ) | ||||
Weighted average common shares outstanding | ||||||||||||||||
Basic and diluted | 48,081,893 | 47,620,263 | 47,837,725 | 47,576,166 | ||||||||||||
Loop Industries, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands of U.S. dollars, except per share data) | As at | |||||||
November 30, | February 28, | |||||||
2025 | 2025 | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 5,204 | $ | 12,973 | ||||
Accounts receivable and other | 300 | 639 | ||||||
Inventories | 85 | 82 | ||||||
Prepaid expenses | 410 | 158 | ||||||
Total current assets | 5,999 | 13,852 | ||||||
Equity method investments | 1,831 | 1,281 | ||||||
Property, plant and equipment, net | 1,690 | 1,737 | ||||||
Intangible assets, net | 1,770 | 1,708 | ||||||
Total assets | $ | 11,290 | $ | 18,578 | ||||
Liabilities and Stockholders' Equity (Deficit) | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued liabilities | $ | 2,935 | $ | 3,545 | ||||
Unearned revenue | 102 | 102 | ||||||
Current portion of long-term debt | 510 | 312 | ||||||
Total current liabilities | 3,547 | 3,959 | ||||||
Due to customer | 882 | 832 | ||||||
Series B Convertible Preferred stock | 11,688 | 10,647 | ||||||
Long-term debt | 2,496 | 2,773 | ||||||
Total liabilities | 18,613 | 18,211 | ||||||
Stockholders' Equity (Deficit) | ||||||||
Series A Preferred stock par value | - | - | ||||||
Common stock par value | 5 | 5 | ||||||
Additional paid-in capital | 195,452 | 193,529 | ||||||
Accumulated deficit | (201,622 | ) | (192,027 | ) | ||||
Accumulated other comprehensive loss | (1,158 | ) | (1,140 | ) | ||||
Total stockholders' equity (deficit) | (7,323 | ) | 367 | |||||
Total liabilities and stockholders' equity (deficit) | $ | 11,290 | $ | 18,578 | ||||
Loop Industries, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(in thousands of U.S. dollars) | Nine Months Ended November 30, | |||||||
2025 | 2024 | |||||||
Cash Flows from Operating Activities | ||||||||
Net loss | $ | (9,595 | ) | $ | (21,940 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Depreciation and amortization | 290 | 398 | ||||||
Stock-based compensation expense | 972 | 1,062 | ||||||
Impairment of machinery & equipment | - | 8,460 | ||||||
Accrued interest and other financing costs | 1,125 | 87 | ||||||
Loss on Equity method investments | 410 | - | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable and other | 363 | 144 | ||||||
Inventories | - | 21 | ||||||
Prepaid expenses | (248 | ) | 180 | |||||
Accounts payable and accrued liabilities | (689 | ) | 2,851 | |||||
Unearned revenue | - | 102 | ||||||
Net cash used in operating activities | (7,372 | ) | (8,635 | ) | ||||
Cash Flows from Investing Activities | ||||||||
Distribution from equity investment | - | 368 | ||||||
Investments in equity-method investees | (960 | ) | - | |||||
Additions to intangible assets | (199 | ) | (454 | ) | ||||
Net cash used in investing activities | (1,159 | ) | (86 | ) | ||||
Cash Flows from Financing Activities | ||||||||
Proceeds from exercise of stock options | 64 | - | ||||||
Proceeds from ATM equity offering, net of issuance costs | 889 | - | ||||||
Borrowings under credit facility | - | 2,372 | ||||||
Repayment of long-term debt | (215 | ) | (60 | ) | ||||
Net cash provided by financing activities | 738 | 2,312 | ||||||
Effect of exchange rate changes | 24 | (226 | ) | |||||
Net decrease in cash and cash equivalents | (7,769 | ) | (6,635 | ) | ||||
Cash and cash equivalents, beginning of period | 12,973 | 6,958 | ||||||
Cash and cash equivalents, end of period | $ | 5,204 | $ | 323 | ||||
Supplemental Disclosure of Cash Flow Information: | ||||||||
Income tax paid | $ | - | $ | - | ||||
Interest paid | $ | 148 | $ | 214 | ||||
Interest received | $ | 212 | $ | 224 | ||||
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from its dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles packaging and textiles such as carpets and clothing, into their base building block monomers DMT and MEG. The monomers are separated, purified and polymerized to create virgin-quality Loop™ & Twist™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ & Twist™ PET can be recycled infinitely without degradation of quality, helping to close the plastic loop. Loop Industries is committed to contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."
For more information:
Please visit www.loopindustries.com
Follow Loop on X: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries
Follow Twist™ on Instagram: twistbyloop
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and as defined in the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about the anticipated timing and development of Loop's projects in India and Europe; expected progress and outcomes related to project debt and equity financing efforts; potential engineering services revenues and milestone payments; and the expected benefits of Loop's offtake agreement with Nike, strategic alliance with Reed Societe Generale Group, and other current or prospective partnerships. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the projections discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. These risks and other factors include, but are not limited to, those listed under "Risk Factors." Additional factors that could materially affect these forward-looking statements and/or projections include, among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection to them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts including trade disputes and increasing protectionist measures that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any SEC investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 28, 2025 filed with the SEC and in Loop's subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
For More Information:
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com
SOURCE: Loop Industries
View the original press release on ACCESS Newswire
FAQ
What did Loop (LOOP) announce about the India Infinite Loop project on January 14, 2026?
How much revenue did Loop (LOOP) report for Q3 fiscal 2026 and what drove it?
What is Loop's (LOOP) reported liquidity and cash operating expense as of Q3 2026?
What management change did Loop (LOOP) disclose on January 14, 2026?
How did Loop's (LOOP) net loss in Q3 2026 compare year-over-year?
What financing progress did Loop (LOOP) report for the India JV on January 14, 2026?
