Tecogen Q1 2023 revenue down 27.7% to $5.4M, net loss of $1.5M vs prior year profit

TECOGEN INC.

2023-Q1 EPS reported -$0.06 revenue$5,379,818

Revenue $5.4M, down 27.7% YoY; net loss $1.5M vs net income $0.1M in Q1 2022.
Product revenue fell 56.6% to $1.7M; services revenue up 7.5% to $3.1M.
Gross margin declined to 38.9% from 41.6%; operating expenses rose 17.7% to $3.5M.
Adjusted EBITDA negative $1.3M vs positive $154K in prior year; cash balance $1.6M.
CEO cites 35% sequential revenue growth from Q4 2022 and expanding pipeline.

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 financial results for the three months ended March 31, 2023.

Period: the three months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 10, 2023, the registrant issued a press release with earnings commentary and supplemental information for the three months ended March 31, 2023.

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36 earnings releases filed in the last 30 days. Browse all earnings releases →

TECOGEN INC. filing history →

Source: SEC EDGAR

accession 0001537435-23-000041

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