Loop Industries FY2022 net loss $44.9M, no revenue, R&D spend $27.7M

Loop Industries, Inc.

Net loss of $44,920,956 ($0.99 diluted EPS) vs $36,344,923 ($0.89) prior year.
Cash and cash equivalents $44.1M at Feb 28, 2022, up from $35.2M, supported by equity raises.
R&D expenses $27.7M (up 48% YoY); G&A $12.8M; zero revenue in development stage.
Recorded $2.5M contingency loss for legal settlement and $1.1M loss from joint venture.
Management acknowledges need for additional financing to fund commercialization and manufacturing plants.

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