Loop Industries Q2 net loss narrows on lower R&D expenses
LOOP•Loop Industries’ fiscal second-quarter revenue rose year over year to $117,000, generated by engineering services for its India joint venture, while net loss narrowed to $2.99 million on lower R&D and administrative expenses.
1. Quarterly results
Loop Industries reported fiscal second-quarter revenue of $117,000, up year over year but below the $312,500 consensus estimate from two analysts. Net loss was $2.99 million. Cash operating expenses fell year over year, mainly due to lower employee compensation and insurance costs.
2. India facility plans
The company rescaled its planned India facility to reduce capital needs and support faster execution. It targets completing construction by the end of 2028 and starting operations in 2029. Loop said it is seeking capital for its equity contribution to the India joint venture and ongoing expenses, while the timing and amount of future financing and revenue remain uncertain.
