Loop Industries Q2 net loss $4.75M; cash $13.4M; Ulsan groundbreaking Nov 9

Loop Industries, Inc.

Q2 net loss $4.75M ($0.10/sh) vs $7.71M loss prior year; revenue $54K.
Cash $13.4M at Aug 31; expects ~$16M reimbursement from SKGC JV when Ulsan construction begins.
Monthly operating spend forecast $1.0-$1.2M for balance of FY2024, excluding recoverable amounts.
Ulsan ARC groundbreaking in South Korea on Nov 9; construction targeted end-2023 to end-2025.
Saint-Avold (France) JV project public consultation ongoing Sept 11 – Nov 7, 2023 via CNDP.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Loop Industries, Inc. reported second quarter of fiscal year ending February 29, 2024 results: revenue $54, net income Net loss $ (4,750 ).

Period: second quarter of fiscal year ending February 29, 2024
Revenue: $54
Net income: Net loss $ (4,750 )
Result: reported results

Exact text from the filing

for the three-month periods ended August 31, 2023 and 2022, in thousands of U.S. Dollars. Three months ended August 31, 2023 2022 Change Revenue from contracts with customers $ 54 $ 135 $ (81 ) Expenses Research and development Employee compensation 1,218 1,749 (531 ) Stock-based compensation 155 319 (164 ) Machinery and equipment expenditures - 1,184

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Loop Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-012946

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