Tecogen Q3 2023 revenue up 7.5% YoY to $7.1M; net loss widens to $0.5M

TECOGEN INC.

2023-Q3 EPS reported -$0.11 revenue$19,241,106

Q3 revenue $7.1M (up 7.5% YoY); net loss $0.5M ($0.02 EPS) vs loss $0.3M a year ago.
Nine-month revenue $19.2M (down 6.0% YoY); net loss $2.8M vs $1.0M in 2022.
Services revenue up 24.8% to $3.8M driven by Aegis contracts; Products revenue down 8.4% to $2.9M.
Gross margin fell to 41.1% from 43.7%; Services margin dropped to 38.9% due to engine replacement costs.
Cash $1.1M; drew $500k from new $1.5M credit facility in Oct. Adjusted EBITDA -$182k vs -$72k.

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 1.0

TECOGEN INC. reported the three and nine months ended September 30, 2023 results: revenue $7.1 million, net income $0.5 million, EPS $0.02/share.

Period: the three and nine months ended September 30, 2023
Revenue: $7.1 million
Net income: $0.5 million
EPS: $0.02/share
Result: reported results

Exact text from the filing

Tecogen Announces Third Quarter 2023 Results Q3 2023 revenue of $7.1 million, an increase of 7.5% QoQ WALTHAM, Mass., November 8, 2023 - Tecogen Inc. (OTCQX:TGEN), a leading manufacturer of clean energy products, reported revenues of $7.1 million and a net loss of $0.5 million for the quarter ended September 30, 2023 compared to revenues of $6.6 million, and a net loss of $0.3 million in 2022. For the nine months ended September 30, 2023 revenues were $19.2 million and the net loss was $2.8 million compared to revenues of $20.5 million, and net loss of $1.0 million for the same period in 2022.

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Source: SEC EDGAR

accession 0001537435-23-000145

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