Tecogen Q3 revenue up 31.9% to $6.6M; net loss $0.3M vs $1.5M profit

TECOGEN INC.

2022-Q3 EPS reported -$0.04 revenue$20,471,026

Revenue $6.6M in Q3 2022, up 31.9% YoY from $5.0M; YTD revenue $20.5M (+18.9%).
Net loss $0.3M ($0.01/share loss) vs net income $1.5M ($0.06/share) in Q3 2021 due to absence of CARES Act benefits.
Operating loss improved to $0.2M from $0.9M; gross margin 43.7% vs 46.7% due to higher material costs.
Products revenue surged 71.4% to $3.2M driven by chiller/cogen sales; services revenue up 8.8% to $3.1M.
Adjusted EBITDA negative $72K vs negative $197K; CEO cites rising electricity rates and 40% ITC as tailwinds.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TECOGEN INC. reported the quarter ended September 30, 2022 results: revenue $6.6 million, net income net loss of $0.3 million, EPS a loss of $0.01/share.

Period: the quarter ended September 30, 2022
Revenue: $6.6 million
Net income: net loss of $0.3 million
EPS: a loss of $0.01/share
Result: reported results

Exact text from the filing

Tecogen Inc. (OTCQX:TGEN), a leading manufacturer of clean energy products, reported revenues of $6.6 million and a net loss of $0.3 million for the quarter ended September 30, 2022 compared to revenues of $5.0 million, and a net profit of $1.5 million in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TECOGEN INC. reported the nine months ended September 30, 2022 results: revenue $20.5 million, net income net loss of $1.0 million, EPS a net loss of $0.04/share.

Period: the nine months ended September 30, 2022
Revenue: $20.5 million
Net income: net loss of $1.0 million
EPS: a net loss of $0.04/share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2022 revenues were $20.5 million and a net loss of $1.0 million compared to revenues of $17.2 million and net income of $3.6 million for the same period in 2021.

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Source: SEC EDGAR

accession 0001537435-22-000129

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