Quarterly ResultJul 14, 2026, 04:37 PM
Loop Industries Q1 FY27 Net Loss $3.38M; Global Apparel LOI
AI Summary
Loop Industries, Inc. reported its first quarter fiscal year 2027 financial results, with a net loss decreasing to $3.385 million from $3.446 million year-over-year, while total revenues decreased to $179 thousand. The company announced a significant Letter of Intent for a multi-year offtake agreement with a global apparel brand for its Infinite Loop India joint venture, targeting up to 15,000 metric tons annually. Progress continues on both the India and European projects, with engineering work advancing and debt syndication for the India JV reaching the technology due diligence phase, though the company is actively seeking capital to fund its equity contribution and ongoing expenses.
Key Highlights
- Net loss for Q1 FY27 was $3.385 million, down from $3.446 million in Q1 FY26.
- Total revenues for Q1 FY27 were $179 thousand, a decrease from $252 thousand in Q1 FY26.
- Executed an LOI for a multi-year offtake agreement for up to 15,000 metric tons annually for Infinite Loop India.
- Cash operating expenses for the quarter were $1.6 million, a $1.0 million decrease year-over-year.
- Total available liquidity stood at $3.6 million at the end of the quarter.
- Engineering for the India JV and European project is progressing, expected to generate revenue.
- Debt syndication for the India JV project funding has advanced to the technology due diligence phase.
Price Impact
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