Loop Industries reported revenue of $0.2 million for Q3 fiscal 2026, compared with no revenue in the prior-year quarter, reflecting initial sales of certified recycled PET. The company posted a net loss of $7.2 million, or $0.04 per share, versus a net loss of $6.8 million, or $0.05 per share, a year earlier. Adjusted EBITDA loss for the quarter narrowed to $6.5 million from $7.0 million in the same period of fiscal 2025. Cash and cash equivalents totaled $35.4 million as of January 14, 2026, providing runway into the third quarter of fiscal 2027.

Loop secured an offtake agreement with Nike for 4,000 metric tonnes per year of certified recycled PET from its Infinite Loop India facility, marking the group’s first major consumer brand contract. Detailed engineering for the 30,000-tonne-per-annum Infinite Loop India plant was awarded to Toyo Engineering under a $22 million contract. The company also reports advanced negotiations on project debt financing, targeting $50 million in term debt to cover the majority of brownfield conversion costs and working capital needs.

Spencer Hart officially joined Loop as Chief Financial Officer on January 5, 2026, bringing over 15 years of experience in corporate finance and capital markets. Founder and CEO Daniel Solomita highlighted a strengthened leadership team and streamlined cost structure expected to reduce operating expenses by 15% annually. Loop’s management team will host a corporate update call on Thursday, January 15, 2026, at 8:45 AM ET to discuss progress on commercialization milestones and financial outlook.