TECOGEN (TGEN) Company Report

Tecogen (TGEN) reported a 28% increase in total revenues to $7,183 thousand for Q3 2025, compared to Q3 2024.
Despite revenue growth, the company posted a net loss of $(2,131) thousand and a reduced overall gross margin of 30% in Q3 2025, partly due to increased service costs of $700k for engine upgrades.
Tecogen is gaining significant traction in the data center market, with a potential customer specifying its AI Chillers for three projects, and is expanding manufacturing capacity through factory modifications and contract manufacturing partnerships.
The company ended Q3 2025 with $14 million in cash and a backlog of $4 million.

Nov 13, 2025, 2:30 PM

Tecogen Inc. Reports Q3 2025 Financial Results

TGEN

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tecogen Inc. reported revenues of $7.18 million for Q3 2025, marking a 27.6% increase year-over-year, primarily driven by a 114.5% surge in Products revenues.
The company posted a net loss of $2.13 million for Q3 2025, or $0.07 per share, compared to a net loss of $0.93 million in the prior year period.
Cash and cash equivalents as of September 30, 2025, were $15.25 million.
Gross profit for the quarter decreased 12% to $2.18 million, with the overall gross margin declining to 30.4% from 44.1% in Q3 2024, attributed to higher costs in the Services segment.
Tecogen has an expanded Letter of Intent (LOI) with a data center customer, now considering the company for three sites and a larger portion of the AI load, suggesting potential for significantly more chiller sales.