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Tecogen Reports Third Quarter 2026 Financial Results

TGEN
  • Tecogen Inc. reported Q3 2026 revenues of $7.87 million & a net loss of $1.59 million, compared to Q3 2025 revenues of $7.18 million & a net loss of $2.13 million.
  • For the nine months ended September 30, 2026, revenues were $19.96 million with a net loss of $5.86 million, versus $21.76 million in revenue & a $4.25 million loss in the prior year period.
  • Cash & cash equivalents stood at $5.33 million at September 30, 2026, with CEO Abinand Rangesh stating the current cash position reached $5.7 million as of the report date.
  • Gross profit margin increased by 7 percentage points in Q3 2026 compared to Q3 2025, rising to 37.4% from 30.4% due to higher Services segment margins.
  • The company backlog exceeded $8 million, with over 70% attributed to large property portfolio owners & energy services companies.
  • Q3 2026 Services revenue grew 13.2% to $4.46 million, while Energy Production revenue surged 42.0% to $0.36 million; however, Products revenue rose only 2.2% to $3.05 million.
  • Nine-month Products revenue declined 38.2% to $5.36 million, while Services revenue increased 10.9% to $13.47 million & Energy Production revenue rose 20.9% to $1.12 million.
  • Operating expenses increased 5.3% in Q3 2026 to $4.51 million & rose 13.3% for the nine-month period to $13.56 million, driven by higher payroll, benefits, stock-based compensation, & depreciation.
  • Adjusted EBITDA was negative $1.01 million for Q3 2026, improving from negative $1.67 million in Q3 2025, but worsened to negative $4.37 million for the nine months compared to negative $3.22 million in the prior year.
  • CEO highlighted a new dual power source retrofit technology for existing data center equipment to maximize power on approved sites amid potential construction moratoriums.
  • A conference call to discuss Q3 results is scheduled for November 12, 2026, at 9:30 am ET, with a webcast available via the company's investor relations website.
Company
Tecogen, Inc.
Keywords
Oil, Gas & Energy, Earnings