loop20250831

loop20250831_10q.htm

United States

Securities and Exchange Commission

Washington, D.C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the quarterly period ended August 31, 2025

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from ___________ to __________

Commission File No. 001-38301

Loop Industries, Inc.

(Exact name of Registrant as specified in its charter)

Nevada		27-2094706
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

480 Fernand-Poitras Terrebonne, Québec, Canada J6Y 1Y4

(Address of principal executive offices zip code)

Registrant's telephone number, including area code (450) 951-8555

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.0001 per share	LOOP	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files) Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As at October 14, 2025, there were 48,043,068 shares of the Registrant's common stock, par value $0.0001 per share, outstanding.

Table of Contents

LOOP INDUSTRIES, INC.

TABLE OF CONTENTS

		Page No.
PART I. Financial Information

Item 1.	Financial Statements	F-1
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	13
Item 4.	Controls and Procedures	13

PART II. Other Information

Item 1.	Legal Proceedings	14
Item 1A.	Risk Factors	14
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	15
Item 3.	Defaults Upon Senior Securities	15
Item 4.	Mine Safety Disclosures	15
Item 5.	Other Information	15
Item 6.	Exhibits	16

	Signatures	17

Table of Contents

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Loop Industries, Inc.

Three and Six Months Ended August 31, 2025

Index to the Unaudited Interim Condensed Consolidated Financial Statements

Contents		Page(s)

Condensed consolidated balance sheets as at August 31, 2025 (Unaudited) and February 28, 2025		F-2

Condensed consolidated statements of operations and comprehensive loss for the three and six months ended August 31, 2025 and 2024 (Unaudited)		F-3

Condensed consolidated statements of changes in stockholders' equity (deficit) for the three and six months ended August 31, 2025 and 2024 (Unaudited)		F-4

Condensed consolidated statements of cash flows for the six months ended August 31, 2025 and 2024 (Unaudited)		F-6

Notes to the condensed consolidated financial statements (Unaudited)		F-7

F-1

Table of Contents

Loop Industries, Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands of U.S. dollars, except per share data)	*As at*
	*August 31,*			*February 28,*
	*2025*			*2025*

Assets
Current assets
Cash and cash equivalents	$	7,310		$	12,973
Accounts receivable and other (Note 3)		902			639
Inventories		86			82
Prepaid expenses (Note 4)		502			158
Total current assets		8,800			13,852
Investments in joint ventures		936			1,281
Property, plant and equipment, net (Note 5)		1,754			1,737
Intangible assets, net (Note 6)		1,800			1,708
Total assets	$	13,290		$	18,578

Liabilities and Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable and accrued liabilities (Note 8)	$	3,335		$	3,545
Unearned revenue		102			102
Current portion of long-term debt (Note 11)		464			312
Total current liabilities		3,901			3,959
Due to customer		865			832
Series B Convertible Preferred stock (Note 10)		11,328			10,647
Long-term debt (Note 11)		2,664			2,773
Total liabilities		18,758			18,211

Stockholders’ Equity (Deficit)
Series A Preferred stock par value $0.0001; 25,000,000 shares authorized; one share issued and outstanding		-			-
Common stock par value $0.0001; 250,000,000 shares authorized; 47,863,478 shares issued and outstanding (February 28, 2025 – 47,620,263) (Note 12)		5			5
Additional paid-in capital		194,370			193,529
Accumulated deficit		(198,678	)		(192,027	)
Accumulated other comprehensive loss		(1,165	)		(1,140	)
Total stockholders’ equity (deficit)		(5,468

SEC Form 10-Q filed by Loop Industries Inc.