Tecogen Q4 2023 revenue $5.9M (+30% YoY); net loss $1.8M on $1M bad debt and inventory charges

TECOGEN INC.

Revenue $5.9M in Q4 (+30.2% YoY); Products $1.8M (+76.6%), Services $3.6M (+19.1%), Energy $542K (+4.7%).
Net loss $1.8M vs $1.4M in Q4 2022; EPS loss $0.07. FY 2023 net loss $4.5M vs $2.4M.
Adjusted EBITDA loss narrowed to $527K in Q4 from $1.1M YoY; FY loss $2.6M vs $1.7M.
Gross margin dropped to 39.8% from 52.5% due to $1M bad debt reserve and obsolete inventory provision.
CEO cites shift to larger multi-unit projects; 12-unit cogeneration order; factory move planned.

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 for the year ended December 31, 2023 results: revenue $25.1 million, net income net loss of $4.5 million.

Period: for the year ended December 31, 2023
Revenue: $25.1 million
Net income: net loss of $4.5 million
Result: reported results

Exact text from the filing

For the year ended December 31, 2023 revenues were $25.1 million and the net loss was $4.5 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TECOGEN INC. reported for the quarter ended December 31, 2023 results: revenue $5.9 million, net income net loss of $1.8 million, EPS a net loss of $0.07/share.

Period: for the quarter ended December 31, 2023
Revenue: $5.9 million
Net income: net loss of $1.8 million
EPS: a net loss of $0.07/share
Result: reported results

Exact text from the filing

Tecogen Inc. (OTCQX:TGEN), a leading manufacturer of clean energy products, reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended December 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 0001537435-24-000020

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