Loop Industries Q1 2025 Update: Cash, Partnerships
Ticker: LOOP · Form: 10-Q · Filed: Jul 15, 2024 · CIK: 1504678
Sentiment: neutral
Topics: financials, partnership, quarterly-report
TL;DR
Loop Industries has $47.5M cash, inked Ester Industries & Reed Management deals this quarter.
AI Summary
Loop Industries, Inc. filed its 10-Q for the period ending May 31, 2024. The company reported cash and cash equivalents of $47,538,745. During the quarter, Loop Industries entered into a strategic partnership with Ester Industries Ltd. and an agreement with Reed Management SAS.
Why It Matters
This filing provides insight into Loop Industries' financial health and strategic moves, which could impact its ability to execute its business plan and attract further investment.
Risk Assessment
Risk Level: medium — The company's financial performance and ability to execute strategic partnerships are key factors influencing its risk profile.
Key Numbers
- $47.5B — Cash and Cash Equivalents (As of May 31, 2024, indicating liquidity.)
- 2024-05-31 — Reporting Period End Date (Marks the end of the first quarter of fiscal year 2025.)
Key Players & Entities
- Loop Industries, Inc. (company) — Filer
- Ester Industries Ltd. (company) — Strategic Partner
- Reed Management SAS (company) — Agreement Party
- $47,538,745 (dollar_amount) — Cash and cash equivalents as of May 31, 2024
FAQ
What was the total cash and cash equivalents reported by Loop Industries as of May 31, 2024?
Loop Industries reported cash and cash equivalents of $47,538,745 as of May 31, 2024.
What significant strategic partnership did Loop Industries announce during this reporting period?
Loop Industries announced a strategic partnership with Ester Industries Ltd.
Did Loop Industries enter into any other notable agreements during the period?
Yes, Loop Industries entered into an agreement with Reed Management SAS.
What is the fiscal year end for Loop Industries?
Loop Industries' fiscal year ends on February 28.
When was the 10-Q filing submitted?
This 10-Q filing was submitted on July 15, 2024.
Filing Stats: 4,604 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-07-15 17:05:23
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share LOOP The Nasdaq Stock Mar
Filing Documents
- loop_10q.htm (10-Q) — 752KB
- loop_ex102.htm (EX-10.2) — 453KB
- loop_ex311.htm (EX-31.1) — 13KB
- loop_ex312.htm (EX-31.2) — 13KB
- loop_ex321.htm (EX-32.1) — 5KB
- loop_ex322.htm (EX-32.2) — 4KB
- loop_10qimg2.jpg (GRAPHIC) — 4KB
- 0001654954-24-008942.txt ( ) — 4430KB
- loop-20240531.xsd (EX-101.SCH) — 47KB
- loop-20240531_lab.xml (EX-101.LAB) — 241KB
- loop-20240531_cal.xml (EX-101.CAL) — 44KB
- loop-20240531_pre.xml (EX-101.PRE) — 207KB
- loop-20240531_def.xml (EX-101.DEF) — 101KB
- loop_10q_htm.xml (XML) — 571KB
Financial Information
PART I. Financial Information Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.
Controls and Procedures
Controls and Procedures 14
Other Information
PART II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 15 Item 1A.
Risk Factors
Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17
Signatures
Signatures 18 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Loop Industries, Inc. Three months ended May 31, 2024 Index to the Unaudited Interim Condensed Consolidated Financial Statements Contents Page(s) Condensed consolidated balance sheets as at May 31, 2024 (Unaudited) and February 29, 2024 F1 Condensed consolidated statements of operations and comprehensive loss for the three months ended May 31, 2024 and 2023 (Unaudited) F2 Condensed consolidated statements of changes in stockholders' equity for the three months ended May 31, 2024 and 2023 (Unaudited) F3 Condensed consolidated statements of cash flows for the three months ended May 31, 2024 and 2023 (Unaudited) F4 Notes to the condensed consolidated financial statements (Unaudited) F5 3 Table of Contents Loop Industries, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands of U.S. dollars, except per share data) As at May 31, 2024 February 29, 2024 Assets Current assets Cash and cash equivalents $ 5,291 $ 6,958 Sales tax, tax credits and other receivables (Note 3) 242 351 Inventories (Note 4) 99 102 Prepaid expenses and other deposits (Note 5) 525 577 Total current assets 6,157 7,988 Investment in joint venture 381 381 Property, plant and equipment, net (Note 6) 10,533 10,636 Intangible assets, net (Note 7) 1,671 1,548 Total assets $ 18,742 $ 20,553 Liabilities and Stockholders' Equity Current liabilities Accounts payable and accrued liabilities (Note 9) $ 2,891 $ 2,321 Current portion of long-term debt (Note 10) 244 100 Total current liabilities 3,135 2,421 Due to customer 784 770 Long-term debt (Note 10) 5,555 3,220 Total liabilities 9,474 6,411 Stockholders' Equity 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; 47,538,745 shares issued and outstanding (Febru