Free cash flow remains deeply negative at -$2.9 million for 2025Q4, with capital expenditures representing 65.3% of the firm's negligible revenue base.
| Metric | Feb'26 | Feb'25 | Feb'24 | Feb'23 | Feb'22 | Feb'21 | Feb'20 | Feb'19 | Feb'18 | Feb'17 | Feb'16 | Sep'14 | Sep'13 | Sep'12 | Sep'11 |
|---|
| Cash from Operations | -10.11M | -2.12M | -18.03M | -34.89M | -42.98M | -22.49M | -9.09M | -7.56M | -6.39M | -2.83M | -1.11M | -14.28K | -19.72K | -24.54K | -13.76K |
| Operating CF Margin % | -1966.93% | -19.48% | -11786.93% | -20187.55% | - | - | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -376.66% | 88.24% | 48.31% | 18.83% | -91.12% | -147.35% | -20.23% | -18.32% | -125.57% | -155.79% | -7658.47% | 27.58% | 19.67% | -78.36% | - |
| Net Income | -12.3M | -15.06M | -21.09M | -21.3M | -44.92M | -36.34M | -14.51M | -17.54M | -14.04M | -8.81M | -2.84M | -19.13K | -16.47K | -29.77K | -22.58K |
| Depreciation & Amortization | 384K | 524K | 535K | 550.11K | 548.23K | 775.67K | 830.43K | 503K | 367.18K | 397.44K | 211.84K | 34.13K | 0 | 0 | 0 |
| Stock-Based Compensation | 1.45M | 1.35M | 1.42M | 10.09M | 2.06M | 3.67M | 3.47M | 5.76M | 265.99K | 5.57M | 614K | 570K | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 5.04M | 43.36K | 2.64M | 0 | 0 | 404.51K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.41M | 9.51M | 658K | -18.79M | 3.76M | 43.84K | 2.12M | 342.43K | 6.28M | 135.67K | 60.57K | 19.76K | 0 | 0 | -22.58K |
| Working Capital Changes | -2.06M | 1.55M | 438K | -5.44M | -4.43M | 4.32M | -1.05M | 737.85K | 731.4K | -122.11K | 437.69K | 4.85K | -3.25K | 5.23K | 8.82K |
| Change in Receivables | -78K | -322K | 731K | 548.16K | 45.13K | -1.03M | -77.29K | -234.37K | -218.56K | -94.34K | -219.93K | 0 | 0 | 0 | 0 |
| Change in Inventory | -44K | 14K | 0 | -726.93K | 0 | 0 | 77.29K | 234.37K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -1.74M | 0 | 0 | -548.16K | 0 | 0 | -1.06M | 687.16K | 1.82M | -201.54K | 350.35K | 4.85K | -4.52K | 0 | 0 |
| Cash from Investing | -1.17M | -2.04M | -5.64M | 21.28M | -5.11M | -2.98M | -3.39M | -2.05M | -2.8M | -513.02K | -1.6M | -1.37M | 0 | 0 | 0 |
| Capital Expenditures | -211K | -450K | -5.16M | -1.04M | -5.11M | -2.33M | -2.54M | -2.05M | -2.8M | -513.02K | -1.6M | -38.15K | 0 | 0 | 0 |
| CapEx % of Revenue | 41.05% | 4.13% | 3373.86% | 598.87% | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 22.31M | 0 | -650K | -850K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 368K | -482K | 0 | 0 | -1.24M | -949.97K | 0 | 0 | 0 | 0 | -1.34M | 0 | 0 | 0 |
| Cash from Financing | 678K | 10.32M | -75K | 1.01M | 56.99M | 26.6M | 40.46M | 7.33M | 16.5M | 3.99M | 2.85M | 14.92K | 0 | 15.98K | 35.84K |
| Debt Issued (Net) | -275K | -77K | -63K | 0 | 945.63K | -50.59K | 1.59M | 7.5M | 1.09M | 0 | 0 | 14.92K | 0 | 0 | 0 |
| Equity Issued (Net) | 953K | 10.39M | 0 | 0 | 56.05M | 26.65M | 39.18M | -25.54K | 15.69M | 3.99M | 2.85M | 0 | 0 | 15.98K | 35.84K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | -12K | 1.01M | 0 | 0 | -312K | -143.28K | -278.47K | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -10.62M | 6.01M | -23.63M | -13.47M | 8.84M | 1.5M | 27.88M | -2.32M | 7.23M | 493.9K | 212.79K | 640 | -19.72K | -8.56K | 22.08K |
| Free Cash Flow | -10.32M | -2.57M | -23.68M | -35.93M | -48.1M | -24.82M | -11.63M | -9.61M | -9.19M | -3.35M | -2.71M | -52.43K | -19.72K | -24.54K | -13.76K |
| FCF Margin % | -2007.98% | -23.61% | -15475.82% | -20786.42% | - | - | - | - | - | - | - | - | - | - | - |
| FCF Growth % | -301.44% | 89.14% | 34.09% | 25.3% | -93.79% | -113.37% | -21.05% | -4.56% | -174.61% | -23.65% | -5061.88% | -165.94% | 19.67% | -78.36% | - |
| FCF per Share | -0.22 | -0.05 | -0.50 | -0.76 | -1.06 | -0.61 | -0.31 | -0.28 | -0.28 | -0.11 | -0.10 | -0.00 | -0.01 | - | -0.00 |
| FCF Conversion (FCF/Net Income) | 0.82x | 0.14x | 0.86x | 1.64x | 0.96x | 0.62x | 0.63x | 0.43x | 0.46x | 0.69x | 0.39x | 0.75x | 1.20x | 0.82x | 0.61x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity depletion risk
According to the company's reported financial data, the OCF/NI ratio of 1.01 in 2025Q4 suggests that operating cash flow is tracking closely with net losses, confirming that the firm lacks the positive accrual-based earnings quality typically seen in mature, cash-generative industrial chemical enterprises.
The alignment between net income and operating cash flow indicates that the company's losses are largely cash-based rather than driven by non-cash accounting charges. This suggests that the firm is consuming actual liquidity to fund its ongoing pilot-scale operations, leaving little room for error in its current cash-constrained environment.
As reported in recent financial statements, the company's FCF margin of -16.2% in 2025Q4 highlights a persistent inability to generate self-sustaining cash flows, with the firm consistently burning capital to maintain its research and development infrastructure without achieving commercial-scale revenue offsets.
The trajectory of free cash flow remains deeply negative, reflecting the high fixed-cost burden of maintaining the Terrebonne facility. Investors should monitor whether the company can transition toward positive FCF as it attempts to scale, though current trends suggest a continued reliance on external financing.
Based on the provided figures, the company's CapEx/Rev ratio reached 65.3% in 2025Q4, indicating that capital expenditures remain disproportionately high relative to the firm's negligible revenue base, which is characteristic of a pre-commercial entity heavily investing in future production capacity.
The high capital intensity suggests that the firm is prioritizing the construction of future facilities over immediate operational efficiency. This strategy appears to be a significant drain on liquidity, and the lack of a clear path to revenue suggests that these investments may not yield near-term returns.
Data from recent filings indicates that working capital changes, such as the -$1.5 million outflow in 2025Q4, are contributing to the firm's cash burn, suggesting that the company is struggling to manage its cash conversion cycle effectively during this pre-commercial phase.
The erratic nature of working capital movements may reflect the sporadic timing of project-based payments and inventory management challenges. This volatility complicates cash flow forecasting and underscores the operational risks inherent in the company's current business model.
As indicated by the financial statements, stock-based compensation of $481,000 in 2025Q4 serves to mitigate the reported cash burn, effectively masking the true extent of the company's operational losses by substituting equity for cash-based employee expenses.
While stock-based compensation preserves cash in the short term, it represents a significant dilution risk for shareholders. Analysts should consider this non-cash expense when evaluating the company's actual cash-burn rate and its long-term ability to retain talent without further depleting its limited cash reserves.
Quick answers to the most common questions about buying LOOP stock.
Loop Industries, Inc. (LOOP) generated $-10.1M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Loop Industries, Inc. (LOOP) reported negative free cash flow of $10.3M in 2025, indicating capital requirements exceeded cash from operations.
Loop Industries, Inc. (LOOP) spent $0.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.