Loop Industries Reports Second Quarter Fiscal 2026 Results
Loop Industries, a clean technology company focused on accelerating a circular economy for polyester, has released its financial results for the second quarter of fiscal year 2026. The company, which specializes in manufacturing 100% recycled polyethylene terephthalate (PET) plastic and textile-to-textile (T2T) polyester, provided updates on key milestones and strategic initiatives.
Financial Highlights
For the second quarter ended August 31, 2025, Loop Industries reported a net loss of $3.2 million, a significant improvement from the $4.8 million loss in the same period last year. The company's cash operating expenses decreased by $1.74 million year-over-year, totaling $2.43 million for the quarter. Total available liquidity at the end of the quarter was $9.86 million, which the company believes is sufficient to fund operations until the start-up of the Indian facility.
Business and Operational Highlights
Loop Industries made notable progress in its Infinite Loop India project, securing multi-year offtake agreements with a leading global sports apparel company and Taro Plast S.p.A. The company also formed strategic alliances with Shinkong Synthetic Fibers Corporation and Hyosung TNC to support the shift to textile-to-textile circular polyester. Additionally, Loop executed an agreement for the acquisition of a 93-acre site in Gujarat, India, and signed a $1.5 million engineering services agreement to support the detailed engineering phase for the Infinite Loop India facility.
Strategic Initiatives and Corporate Developments
Loop Industries is making positive progress on project debt financing for the Infinite Loop India facility, with KPMG managing the debt syndication process. In Europe, the company is in advanced stages of site selection for its first Infinite Loop facility and is engaging with government entities regarding available subsidies and incentives. Loop expects to generate engineering revenues from the European project in 2026.
Management's Perspective
Daniel Solomita, Founder and CEO of Loop Industries, highlighted the significant milestones achieved for the Infinite Loop India project, including securing a strategic site and foundational anchor customer. Solomita also noted the progress in securing project debt financing and the advancement of the European project, which is expected to generate new revenue streams from engineering services and licensing payments.
Future Outlook
Loop Industries is focused on advancing its commercialization timeline for the Infinite Loop Europe project and securing additional offtake agreements for the Infinite Loop India facility. The company aims to continue its strategic partnerships and alliances to support the global shift towards sustainable and circular polyester solutions.
Original SEC Filing: Loop Industries, Inc. [ LOOP ] - 8-K - Oct. 15, 2025