- Loop Industries (LOOP, Financial) reported a significant increase in Q1 FY2026 revenues to $252,000 from $6,000 year-over-year.
- The company reduced its net loss by $1.74 million to $3.45 million.
- Loop is progressing on its India facility, finalizing site selection with a total investment estimation of $176 million.
Loop Industries, Inc. (LOOP), a leader in sustainable PET plastic and polyester fiber production, released its financial results for Q1 Fiscal 2026. The company marked a substantial revenue increase to $252,000, significantly up from $6,000 in the same quarter last year. This growth was driven largely by $244,000 in engineering fees, signaling the transition from pre-revenue to commercial operations.
Operating expenses saw a marked reduction, with a $2.2 million year-over-year decrease, bringing total cash operating expenses down to $2.6 million. As a result, Loop's net loss improved by 33.6%, decreasing from $5.19 million to $3.45 million for the quarter. The available liquidity at the end of Q1 stood at $12.3 million.
In India, Loop is nearing the finalization of site selection for its inaugural manufacturing facility, narrowing options to two locations in Gujarat province. The facility is set to embody Loop's innovative Infinite Loop™ technology with a continuous polymerization line, contributing to an estimated total investment of $176 million. A $1.5 million engineering services agreement was secured with ELITe, a joint venture with Ester Industries, paving the way for this project’s detailed design phase. KPMG has been appointed to oversee the debt syndication process for the facility.
On the European front, Loop continues to advance its expansion efforts in partnership with Reed Societe Generale Group. The company is adopting a modular construction strategy for its first European manufacturing facility, aiming to enhance project profitability and expedite start-up timelines.
