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Revenues

12 Months Ended

Feb. 28, 2025

16. Revenues

Revenue for the years ended February 28, 2025 and February 29, 2024 were as follows:

	February 28, 2025		February 29, 2024
Technology licensing	$	10,395	$	-
Engineering services		368		-
Sales of PET		126		153
	$	10,889	$	153

During the year ended February 28, 2025, the Company recorded revenues of $10,395 (2024 – nil) 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 (€10,000).

During the year ended February 28, 2025, the Company recorded revenues of $368 (2024 – nil) for engineering fees, which were related to an engineering services agreement between Loop and ELITe. Pursuant to the agreement, Loop is providing engineering services and support the local engineering firm for the planned Infinite Loop™ facility in India.

During the year ended February 28, 2025, the Company recorded revenues of $126 (2024 – $153) for sales of Loop™ PET resin. As at February 28, 2025, unearned revenue was $102 (2023 – nil), comprised of a payment received from a customer while the Company has not yet fulfilled its obligation to deliver PET.