Loop Q3 net loss narrows to $2.9M; Nike offtake, Toyo engineering, new CFO

Loop Industries, Inc.

Net loss of $2.94M vs $11.91M a year ago; revenue $86k from engineering services to India JV.
Executed multi-year offtake agreement with Nike for Twist polyester from Infinite Loop India JV.
Awarded detailed engineering contract for India JV to Toyo Engineering India; debt term sheets received.
Appointed Spencer Hart as CFO effective Jan 15, 2026; Hart has 30+ years in investment banking.
Cash operating expenses $2.2M, down $1.1M YoY; liquidity $7.7M; focus on raising equity for ELITe.

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