Quarterly ResultMay 13, 2026, 10:52 AM
Tecogen Q1 Net Loss Widens to $2.12M; Revenue Down 12.9%
AI Summary
Tecogen Inc. reported a significant widening of its net loss to $2.12 million for the first quarter of 2026, compared to a $0.66 million loss in the prior year period, with basic net loss per share increasing to $0.07. Total revenues declined by 12.9% to $6.34 million, primarily driven by a substantial 53.6% drop in product revenues. Despite growth in service and energy production revenues, the overall financial performance was negatively impacted, leading to increased cash usage in operating activities.
Key Highlights
- Net loss attributable to Tecogen Inc. widened to $2.12 million from $0.66 million YoY.
- Basic net loss per share increased to $0.07 from $0.03 YoY.
- Total revenues decreased 12.9% to $6.34 million from $7.28 million YoY.
- Product revenues fell 53.6% to $1.18 million from $2.53 million YoY.
- Service revenues grew 9.2% to $4.64 million from $4.25 million YoY.
- Energy production revenues rose 5.0% to $0.52 million from $0.50 million YoY.
- Net cash used in operating activities increased to $3.11 million from $1.17 million YoY.
- Cash and cash equivalents were $9.33 million as of March 31, 2026.
Price Impact
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