Note 16 - Revenues |
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Feb. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Revenue from Contract with Customer [Text Block] |
16. Revenues
Revenue for the years ended February 28, 2026 and February 28, 2025 were as follows:
During the year ended February 28, 2026, the Company recorded revenues of $506 (2025 – $368) for engineering fees, which were related to engineering services agreement between Loop and ELITe. Pursuant to the agreements, Loop is providing engineering services to support the development and construction of the Infinite Loop™ facility in India. As at February 28, 2026, the aggregate amount of the transaction price allocated to delivering the service contract that is unsatisfied was approximately $1,281. The Company expects to recognize this remaining amount as engineering services are performed over the next 14 months.
During the year ended February 28, 2026, the Company recorded revenues of $8 (2025 – 126) for sales of Loop™ PET resin. As at February 28, 2026, unearned revenue was $234 (2025 – $102), comprising of engineering services invoiced in advance $132 (2025 - ) and a payment received from a customer while the Company has not yet fulfilled its obligation to deliver PET.
During the year ended February 28, 2025, the Company recorded revenues of $10,395 for technology licensing fees, which were related to the sale of a license to Reed Societe Generale Group. The Company entered into a license agreement with Reed Circular Economy (“RCE”), an affiliate of Reed Societe Generale Group, granting a non-transferable, royalty-bearing license to use Loop's proprietary depolymerization technology for one facility within Europe. Pursuant to the terms of the license agreement, the Company received an upfront royalty payment of $10,395 (). |
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