NYSE: TGEN
TECOGEN INC.CIK 0001537435 · SIC 3585 · Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
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Tecogen Inc. withdraws its S-1 offering, de-registering all unsold securities
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Tecogen files routine annual meeting results; shareholders elect 7 directors, set triennial say-on-pay
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revenue $6.3M, net income -$2.1M. Tecogen Q1 2026 revenue falls 13%, loss triples to despite equity raise
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Tecogen reports Q1 2026 earnings, schedules May 13 conference call
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Tecogen extends advisory agreement with John N. Hatsopoulos through March 2028
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revenue $27.1M, net income -$8.2M. Tecogen raises, uplist to NYSE American, partners with Vertiv for data centers
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Revenues | ||
| Products | 1,134,772 | 3,155,323 |
| Services | 4,375,253 | 3,965,168 |
| Energy production | 236,111 | 174,329 |
| Total revenues | 5,746,136 | 7,294,820 |
| Cost of sales | ||
| Products | 584,755 | 2,232,155 |
| Services | 2,772,569 | 2,469,737 |
| Energy production | 214,910 | 130,436 |
| Total cost of sales | 3,572,234 | 4,832,328 |
| Gross profit | 2,173,902 | 2,462,492 |
| Operating expenses: | ||
| General and administrative | 3,510,850 | 3,091,175 |
| Selling | 490,040 | 514,735 |
| Research and development | 320,224 | 268,724 |
| (Gain) loss on disposition of assets | 2,950 | (280) |
| Total operating expenses | 4,324,064 | 3,874,354 |
| Loss from operations | (2,150,162) | (1,411,862) |
| Other income (expense) | ||
| Other income (expense), net | 46,349 | (6,378) |
| Interest expense | (39,244) | (38,153) |
| Total other income (expense), net | 7,105 | (44,531) |
| Loss before provision for state income taxes | (2,143,057) | (1,456,393) |
| Provision for state income taxes | 361 | 16,762 |
| Consolidated net loss | (2,143,418) | (1,473,155) |
| (Income) loss attributable to the noncontrolling interest | (5,185) | 9,050 |
| Loss attributable to Tecogen Inc. | (2,148,603) | (1,464,105) |
| Net loss per share basic | (0.07) | (0.06) |
| Weighted average shares outstanding basic | 30,000,820 | 25,250,217 |
| Net loss per share diluted | (0.07) | (0.06) |
| Weighted average shares outstanding diluted | 30,000,820 | 25,250,217 |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 6,782,573 | 12,430,287 |
| Accounts receivable, net of allowances for expected credit losses of $445,683 and $389,079, respectively | 4,199,469 | 4,280,991 |
| Unbilled revenue | 138,020 | 138,020 |
| Inventories, net | 12,027,655 | 10,949,697 |
| Prepaid and other current assets | 874,627 | 1,086,310 |
| Total current assets | 24,022,344 | 28,885,305 |
| Long-term assets: | ||
| Property, plant and equipment, net | 1,530,309 | 1,609,321 |
| Right-of-use assets operating leases, net | 1,241,494 | 1,490,094 |
| Right-of-use assets finance leases | 1,514,653 | 1,434,080 |
| Intangible assets, net | 1,968,132 | 2,146,503 |
| Goodwill | 1,248,442 | 1,248,442 |
| Other assets | 79,065 | 176,358 |
| TOTAL ASSETS | 31,604,439 | 36,990,103 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 3,069,563 | 3,381,545 |
| Accrued expenses | 2,686,971 | 2,814,150 |
| Deferred revenue, current portion | 967,604 | 1,530,977 |
| Operating lease obligations, current portion | 478,847 | 538,641 |
| Finance lease obligations, current portion | 332,087 | 280,265 |
| Acquisition liabilities, current portion | 633,382 | 677,162 |
| Unfavorable contract liability, current portion | 41,043 | 44,433 |
| Total current liabilities | 8,209,497 | 9,267,173 |
| Long-term liabilities: | ||
| Deferred revenue, net of current portion | 3,208,904 | 3,265,886 |
| Operating lease obligations, net of current portion | 816,410 | 1,004,488 |
| Finance lease obligations, net of current portion | 989,519 | 992,285 |
| Acquisition liabilities, net of current portion | 687,345 | 826,757 |
| Unfavorable contract liability, net of current portion | 140,381 | 160,902 |
| Total liabilities | 14,052,056 | 15,517,491 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Tecogen Inc. stockholders’ equity: | ||
| Common stock, $0.001 par value; 100,000,000 shares authorized; 30,179,072 issued and outstanding at June 30, 2026 and 29,846,479 shares issued and outstanding at December 31, 2025 | 30,180 | 29,847 |
| Additional paid-in capital | 79,804,451 | 78,216,467 |
| Unearned compensation | (1,958,492) | (712,019) |
| Accumulated deficit | (60,157,825) | (55,888,649) |
| Total Tecogen Inc. stockholders’ equity | 17,718,314 | 21,645,646 |
| Noncontrolling interest | (165,931) | (173,034) |
| Total stockholders’ equity | 17,552,383 | 21,472,612 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 31,604,439 | 36,990,103 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Consolidated net loss | (4,262,073) | (2,133,644) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 543,849 | 391,381 |
| Provision for (recovery of) credit losses | 56,604 | (75,000) |
| Stock-based compensation | 277,381 | 83,439 |
| Unrealized loss on investment securities | — | 18,749 |
| Loss (gain) on disposition of assets | 5,294 | (280) |
| Non-cash interest expense | — | 33,538 |
| Changes in operating assets and liabilities | ||
| (Increase) decrease in: | ||
| Accounts receivable | 24,920 | (538,938) |
| Inventory | (1,077,960) | (45,224) |
| Unbilled revenue | — | 272,160 |
| Prepaid assets and other current assets | 115,219 | (268,691) |
| Other assets | 345,894 | 186,766 |
| Increase (decrease) in: | ||
| Accounts payable | (311,983) | 803,540 |
| Accrued expenses and other current liabilities | (127,178) | 85,325 |
| Deferred revenue | (620,355) | (2,193,607) |
| Other liabilities | (431,178) | (395,134) |
| Net cash provided by (used in) operating activities | (5,461,566) | (3,775,620) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (119,387) | (277,989) |
| Proceeds from disposition of assets | 4,709 | 280 |
| Proceeds from the liquidation of investment in Aivita Group | 96,464 | — |
| Distributions to noncontrolling interest | — | (42,956) |
| Net cash used in investing activities | (18,214) | (320,665) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Finance lease principal payments | (232,397) | (63,010) |
| Proceeds from exercise of stock options | 64,463 | 394,926 |
| Net cash provided (used in) by financing activities | (167,934) | 331,916 |
| Net increase (decrease) in cash and cash equivalents | (5,647,714) | (3,764,369) |
| Cash and cash equivalents, beginning of the period | 12,430,287 | 5,405,233 |
| Cash and cash equivalents, end of the period | 6,782,573 | 1,640,864 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | 61,918 | 36,526 |
| Cash paid for taxes | 11,261 | 17,687 |
| Non-cash investing activities | ||
| Right-of-use assets acquired under operating leases | — | 193,480 |
| Right-of-use assets acquired under finance leases | 281,567 | 557,893 |
| Non-cash financing activities | ||
| Related party note conversion to common stock | — | 514,148 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗