earnings
confidence high
sentiment negative
materiality 0.70
Tecogen Q2 2022 revenue up 4.4% to $6.4M but net loss of $856K vs profit in prior year
TECOGEN INC.
2022-Q2 EPS reported
-$0.03
revenue$13,852,916
- Net loss of $856K ($0.03 EPS loss) vs net income of $399K ($0.02 EPS) in Q2 2021 due to absence of CARES Act credits.
- Revenue $6.4M (+4.4% QoQ); H1 revenue $13.9M (+13.5% YoY) driven by 52% product revenue growth.
- Gross margin fell to 42.1% from 46.3% on higher material costs; Product margin dropped to 33% from 43.1%.
- Adjusted EBITDA negative $651K vs positive $567K in prior year quarter.
- CEO cites price increases expected to help H2 margins; Inflation Reduction Act ITC seen as positive for clean energy.