Loop Industries reports Q2 FY2023 net loss $7.7M; first revenues of $135K from Loop PET resin

Loop Industries, Inc.

Q2 net loss $7.7M vs $8.4M YoY; diluted EPS ($0.16) vs ($0.19).
First revenues of $135K from sale of Loop PET resin to global consumer brands.
Unveiled 100% recycled Loop PET bottle for L'OCCITANE Almond Shower Oil.
Joint ventures with SK Geo Centric (Asia) and SUEZ (Europe) progressing; Ulsan selected for first Asian facility.
Six-month net loss widened to $25.7M from $20.5M; G&A increased $8.8M largely due to stock-based compensation.

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