TECOGEN INC.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
TGEN$1.68-5.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Nine Months Ended September 30, 2025 and 2024
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Nine Months Ended | ||
|---|---|---|
| September 30, 2025 | September 30, 2024 | |
| Revenues | ||
| Products | $8,672,927 | $3,002,087 |
| Services | 12,153,700 | 11,991,378 |
| Energy production | 929,085 | 1,550,549 |
| Total revenues | 21,755,712 | 16,544,014 |
| Cost of sales | ||
| Products | 5,605,282 | 2,018,734 |
| Services | 7,675,073 | 6,423,114 |
| Energy production | 608,258 | 966,440 |
| Total cost of sales | 13,888,613 | 9,408,288 |
| Gross profit | 7,867,099 | 7,135,726 |
| Operating expenses: | ||
| General and administrative | 9,431,073 | 8,428,119 |
| Selling | 1,682,085 | 1,377,758 |
| Research and development | 859,318 | 734,994 |
| (Gain) loss on disposition of assets | 1,433 | (8,070) |
| Total operating expenses | 11,973,909 | 10,532,801 |
| Loss from operations | (4,106,810) | (3,397,075) |
| Other income (expense) | ||
| Other income (expense), net | 61,302 | (15,305) |
| Interest expense | (111,592) | (59,542) |
| Unrealized loss on investment securities | (74,995) | — |
| Total other income (expense), net | (125,285) | (74,847) |
| Loss before provision for state income taxes | (4,232,095) | (3,471,922) |
| Provision for state income taxes | 20,615 | 22,100 |
| Consolidated net loss | (4,252,710) | (3,494,022) |
| (Income) loss attributable to non-controlling interest | (2,264) | (80,149) |
| Net loss attributable to Tecogen Inc. | $(4,254,974) | $(3,574,171) |
| Net loss per share - basic | $(0.16) | $(0.14) |
| Weighted average shares outstanding - basic | 26,354,875 | 24,850,261 |
| Net loss per share - diluted | $(0.16) | $(0.14) |
| Weighted average shares outstanding - diluted | 26,354,875 | 24,850,261 |
The accompanying notes are an integral part of these condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
For the Three and Nine Months September 30, 2025 and 2024
| Three Months Ended September 30, 2025 · Common Stock Shares · Common Stock $0.001 Par Value · AdditionalPaid-InCapital · AccumulatedDeficit · Unearned Compensation · Non-controllingInterest · Total | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at June 30, 2025 | 25,571,490 | $25,571 | $58,837,181 | $(49,763,921) | $— | $(157,380) | $8,941,451 | ||||||
| Follow-on offering, net of transaction costs | 3,985,000 | 3,985 | 18,101,115 | — | — | — | 18,105,100 | ||||||
| Issuance of restricted stock awards | 95,808 | 96 | 799,901 | — | (799,997) | — | — | ||||||
| Exercise of stock options | 166,681 | 167 | 263,310 | — | — | 263,477 | |||||||
| Stock-based compensation expense | — | — | 88,714 | — | 37,705 | — | 126,419 | ||||||
| Net (loss) income | — | — | — | (2,130,947) | — | 11,881 | (2,119,066) | ||||||
| Balance at September 30, 2025 | 29,818,979 | $29,819 | $78,090,221 | $(51,894,868) | $(762,292) | $(145,499) | $25,317,381 | ||||||
| Nine Months Ended September 30, 2025 | Common Stock Shares | Common Stock $0.001 Par Value | AdditionalPaid-InCapital | AccumulatedDeficit | Unearned Compensation | Non-controllingInterest | Total | ||||||
| Balance at December 31, 2024 | 24,950,261 | $24,950 | $57,845,289 | $(47,639,894) | $— | $(104,807) | $10,125,538 | ||||||
| Follow-on offering, net of transaction costs | 3,985,000 | 3,985 | 18,101,115 | — | — | — | 18,105,100 | ||||||
| Issuance of restricted stock awards | 95,808 | 96 | 799,901 | — | (799,997) | — | — | ||||||
| Exercise of stock options | 547,654 | 548 | 657,855 | — | — | — | 658,403 | ||||||
| Related party note conversion to common stock | 240,256 | 240 | 513,908 | — | — | — | 514,148 | ||||||
| Distributions to non-controlling interest | — | — | — | — | — | (42,956) | (42,956) | ||||||
| Stock-based compensation expense | — | — | 172,153 | — | 37,705 | — | 209,858 | ||||||
| Net (loss) income | — | — | — | (4,254,974) | — | 2,264 | (4,252,710) | ||||||
| Balance at September 30, 2025 | 29,818,979 | $29,819 | $78,090,221 | $(51,894,868) | $(762,292) | $(145,499) | $25,317,381 | ||||||
| Three Months Ended September 30, 2024 | Common Stock Shares | Common Stock $0.001 Par Value | AdditionalPaid-InCapital | AccumulatedDeficit | Unearned Compensation | Non-controllingInterest | Total | ||||||
| Balance at June 30, 2024 | 24,850,261 | $24,850 | $57,691,400 | $(45,523,419) | $— | $(97,284) | $12,095,547 | ||||||
| Stock-based compensation expense | — | — | 41,908 | — | — | — | 41,908 | ||||||
| Distributions to non-controlling interest | — | — | — | — | — | (48,321) | (48,321) | ||||||
| Net (loss) income | — | — | — | (930,408) | — | 34,478 | (895,930) | ||||||
| Balance at September 30, 2024 | 24,850,261 | $24,850 | $57,733,308 | $(46,453,827) | $— | $(111,127) | $11,193,204 | ||||||
| Nine Months Ended September 30, 2024 | Common Stock Shares | Common Stock $0.001 Par Value | AdditionalPaid-InCapital | AccumulatedDeficit | Unearned Compensation | Non-controllingInterest | Total | ||||||
| Balance at December 31, 2023 | 24,850,261 | $24,850 | $57,601,402 | $(42,879,656) | $— | $(94,301) | $14,652,295 | ||||||
| Stock-based compensation expense | — | — | 131,906 | — | — | — | 131,906 | ||||||
| Distributions to non-controlling interest | — | — | — | — | — | (96,975) | (96,975) | ||||||
| Net (loss) income | — | — | — | (3,574,171) | — | 80,149 | (3,494,022) | ||||||
| Balance at September 30, 2024 | 24,850,261 | $24,850 | $57,733,308 | $(46,453,827) | $— | $(111,127) | $11,193,204 | ||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.