Tecogen Q1 2026 revenue falls 13%, loss triples to $2.1M despite $18M equity raise

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 13, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 revenue declined 12.9% to $6.3M as product sales fell 53.6%, reversing prior year's 17.6% growth. Operating loss tripled to $2.1M from $660K, driven by lower cogeneration sales and margin compression across all segments.

  MD&A: Revenue Performance verify on EDGAR →
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  Services gross margin fell 5.0 percentage points to 41.8% and Energy Production margin dropped 14.0 points to 23.9% due to higher labor, material, and gas costs, accelerating margin pressure from prior periods.

  MD&A: Segment Margins verify on EDGAR →
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  Company raised $18.1M net in July 2025 public offering at $5.00/share for product development, data center expansion, and related-party note repayment. Cash declined $3.1M in Q1 2026 to $9.3M despite the raise.

  MD&A: Equity Financing verify on EDGAR →