Loop Energy Inc. reports Q3 results

Nov. 04, 2022 3:29 PM ETLoop Energy Inc. (LPEN:CA), LPENFBy: Urvi Shah, SA News Editor

Loop Energy Inc. press release (TSX:LPEN:CA): Q3 Revenue of $1.4M (+600.0% Y/Y) in-line.
Q322 operating expenses of $7.5 million (Q321: $5.2m), 2022 YTD operating expenses of $21.3 million (2021: $14.1m)
Q322 capital expenditures of $2.5 million (Q321: $0.2m), 2022 YTD capital expenditures of $7.4 million (2021: $1.2m)
Q322 net losses of $9.9 million (Q321: $6.5m), 2022 YTD net losses of $27.8 million (2021: $17.6m)
Cash and cash equivalents of $36.9 million as of September 30, 2022 (June 2022: $43 million)
Increased inventory to $7.5 million (gross value) in order to support supply chain
Working capital of $43.9m as of September 30, 2022