Loop Industries reported its second-quarter fiscal year 2025 results, with a net loss of US$4.84 million, indicating a widening loss compared to the prior year. Revenue for the quarter was $23,000, falling short of analyst estimates of $40,000. GAAP EPS was -$0.10, which was in line with expectations.
The company provided an update on its financing and commercialization activities, noting continued progress towards the groundbreaking of its Infinite Loop™ India manufacturing facility. This facility remains on schedule, representing a key operational milestone for Loop's global expansion strategy.
A significant development in financing was the expectation that Reed financing would be finalized in November 2024. This follows an announcement on July 31, 2024, that Societe Generale agreed to acquire 75% of Reed and provide funding initially amounting to €250 million, with potential to increase to €350 million.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.