secwatch.observer — SEC 8-K summary
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Issuer:     TECOGEN INC. (TGEN)
CIK:        0001537435
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001537435-24-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1537435/000153743524000020/0001537435-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1537435/000153743524000020/tgen-20240314.htm
  HTML page:      https://secwatch.observer/filing/0001537435-24-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer