earnings
confidence high
sentiment positive
materiality 0.55
Loop Industries Q2 net loss narrows to $3.2M; secures India offtake and site acquisition
Loop Industries, Inc.
- Q2 net loss of $3.2M ($0.07/share) vs $4.8M a year ago; revenue $0.
- Cash operating expenses fell to $2.43M from $4.17M YoY; total liquidity $9.86M.
- Secured multi-year offtake with a leading sports apparel brand for Twist polyester from India facility.
- Acquired 93-acre site in Gujarat for $10.5M; debt syndication process underway with KPMG.
- Strategic alliances with Shinkong and Hyosung TNC for textile-to-textile circular polyester.