Loop Industries reports Q2 fiscal 2026 results, advances India facility plans

Loop Industries Inc. (NASDAQ: LOOP) reported its second quarter fiscal 2026 financial results, showing a net loss of $3.2 million compared to $4.8 million in the same period last year. The clean technology company also announced several commercial developments for its planned manufacturing facilities in India and Europe.

For the quarter ended August 31, 2025, Loop reported no revenue compared to $23,000 in the prior year period. Research and development expenses decreased to $843,000 from $1.9 million, while general and administrative expenses fell to $1.9 million from $2.6 million year-over-year.

The company secured multiple offtake agreements for its planned Infinite Loop India facility. In September 2025, Loop executed a multi-year agreement with an unnamed sports apparel company for Twist polyester products. The company also signed an agreement with Italy-based Taro Plast S.p.A. for the sale of Loop DMT from the India facility.

Loop announced strategic alliances with Shinkong Synthetic Fibers Corporation in August 2025 and Hyosung TNC in September 2025. These partnerships aim to support global apparel brands' transition to textile-to-textile circular polyester using Loop's technology.

The company's India joint venture ELITe executed an agreement to acquire approximately 93 acres in Gujarat, India for $10.5 million for the manufacturing facility site. This represents a $5 million reduction from the original project cost estimate. ELITe has engaged KPMG to manage debt syndication for construction financing.

For the European project, Loop continues site selection activities with Reed Societe Generale Group and expects to provide engineering services once a location is finalized. The company anticipates generating engineering revenue from this project in 2026.

Loop reported cash and cash equivalents of $7.3 million as of August 31, 2025, with total available liquidity of $9.86 million. Cash operating expenses for the quarter were $2.43 million, representing a year-over-year decrease of $1.74 million.

The company will hold a corporate update call on October 16, 2025 at 8:45 AM Eastern Time, according to the press release statement.

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