Loop Industries SEC Filings

Loop Industries, Inc. reported another quarter of small revenues and significant losses as it remains in the pre-commercialization stage. For the three months ended November 30, 2025, revenue was $86,000, while total expenses reached $2.6 million, leading to a net loss of $2.9 million. For the nine-month period, revenue totaled $338,000 and the net loss was $9.6 million, narrower than the prior year but still substantial.

Liquidity is tight: cash and cash equivalents fell to $5.2 million from $13.0 million at February 28, 2025, and total assets declined to $11.3 million versus liabilities of $18.6 million, resulting in a stockholders’ deficit of $(7.3) million. Management concluded that existing cash plus an undrawn $2.5 million credit facility are insufficient to fund operations for the next 12 months, creating “substantial doubt” about the company’s ability to continue as a going concern. Loop continues to advance its Infinite Loop™ commercialization strategy, including a 50/50 India joint venture with Ester and a European technology licensing and Series B preferred financing partnership with Reed, but these projects require significant additional funding.

Loop Industries reported that its Board appointed director Spencer Hart as Chief Financial Officer, principal accounting officer, and principal financial officer effective January 15, 2026, following his employment start on January 4. Hart has served on the Board since February 2025 and previously spent over 30 years in investment banking and capital markets, most recently with Guggenheim Securities.

Under his employment agreement with subsidiary Loop Canada Inc., Hart will receive an annual base salary of USD $200,000, an annual cash bonus opportunity ranging from 25% to 75% of base salary based on performance, and a one-time grant of 1,000,000 stock options at an exercise price of $1.02 per share. The options vest in five installments of 200,000 options each, with an additional provision that any unvested options fully vest if the Infinite Loop India plant produces 12,500 MT of PET resin meeting customer requirements in one calendar quarter. If the Company terminates Hart without Serious Reason, he is eligible for 10 months of base salary, a prorated incentive based on actual performance, and full option vesting, subject to conditions.

The Company noted it qualifies as a Nasdaq “controlled company” and may rely on exemptions from certain governance requirements, including having a majority-independent Board. After Hart becomes an executive, he will no longer be an independent director, so the Board will not be majority independent. Hart resigned from the audit, compensation, and nominating and corporate governance committees, and the Board plans to assign independent directors Louise Sams, Laurence Sellyn, and Jay Stubina to those committees.

Loop Industries director Spencer Hart reported receiving stock option awards on January 4, 2026. The grants consist of two awards of stock options to purchase Loop Industries common stock at an exercise price of $1.02 per share, one for 200,000 options and another for 800,000 options, for a total of 1,000,000 options held directly after the transactions.

According to the footnote, these options vest in four equal annual tranches on January 5, 2027, January 5, 2028, January 5, 2029 and January 5, 2030, as long as Hart continues to be employed by the company through each vesting date. Any unvested options will also fully vest if the Infinite Loop India plant produces 12,500 MT of PET resin meeting customer requirements in a single calendar quarter.

Loop Industries (LOOP) reported an insider stock purchase. Director Spencer Hart bought 50,000 shares of common stock on 11/10/2025 in an open-market transaction (code P).

The weighted average purchase price was $1.3214 per share, with trades executed between $1.290 and $1.340. Following the transaction, Hart directly owns 410,370 shares. The filing notes the purchases occurred in multiple transactions and offers to provide detailed trade breakdowns upon request.

Loop Industries (LOOP)100,000 stock options on 10/17/2025 at an exercise price of $1.72 per share, held direct. The options expire on 10/17/2035.

The grant vests in three equal annual tranches on October 17, 2026, October 17, 2027, and October 17, 2028, contingent on continued employment. Following the transaction, 100,000 derivative securities were beneficially owned.

Loop Industries (LOOP) filed a Form 3 reporting Interim CFO Mike De Notaris’s initial beneficial ownership. He beneficially owns 20,828 shares of common stock, consisting of 2,000 shares and 18,828 restricted stock units (RSUs). 10,828 RSUs vest on March 9, 2027, and 8,000 vest in equal annual tranches on March 7 each year from 2026 through 2029, subject to continued employment. Each RSU represents the right to receive one share of common stock.

Loop Industries (LOOP) reported a director equity award on a Form 4. On 10/17/2025, the reporting person received 17,311 restricted stock units (RSUs) at $0 price. Each RSU represents the right to receive one share of common stock.

The RSUs fully vest on the earlier of the one-year anniversary of the annual general meeting or the day prior to the next annual meeting after the grant date, contingent on continued service as a non-employee director. Following this grant, beneficial ownership is 447,361 shares, held directly.

Loop Industries reported Q2 FY2026 results showing minimal revenue and narrower losses. For the three months ended August 31, 2025, revenue was $0 (vs. $23 thousand a year ago) and net loss was $3.2 million (vs. $4.8 million). For the six months, revenue reached $252 thousand (vs. $29 thousand) while net loss improved to $6.7 million (vs. $10.0 million).

Cash and cash equivalents were $7.3 million as of August 31, 2025, with total available liquidity of $9.9 million including an undrawn $2.5 million Canadian credit facility. Operating cash outflow was $5.6 million for the six months. Stockholders’ equity moved to a deficit of $5.5 million, reflecting ongoing losses and a Series B Convertible Preferred Stock balance of $11.3 million, which accrued $681 thousand of PIK dividends year-to-date.

The company recorded $244 thousand of engineering services revenue tied to its India joint venture and recognized a $345 thousand loss from equity-accounted investments. The India facility is estimated at $176 million, with land arrangements in Gujarat advancing and groundbreaking targeted by fiscal year-end 2026. As of October 14, 2025, common shares outstanding were 48,043,068.