Tecogen Inc. (TGEN) Financial Statements
Industry: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
In fiscal 2025, Tecogen reported revenue of $27.1M, up 19.7% from $22.6M the year before. Net income was -$8.2M (a -30.5% net margin), or -$0.30 per diluted share. Gross margin was 36.3% and operating margin was -30.5%. Operating activities generated -$9.9M of cash, leaving -$10.3M of free cash flow. At fiscal year end, Tecogen held $37.0M in total assets against $15.5M in total liabilities, including $12.4M of cash and equivalents.
Open the full interactive Tecogen financials → Quarterly statements, key ratios, valuation history and price charts.
Tecogen Key Stats
| Share Price | $2.30 |
|---|---|
| Market Cap | $69.0M |
| Revenue YoY Growth | +19.7% |
| 52-Week Range | $2.00 – $12.07 |
| Shares Outstanding | 30.0 million (basic, 2026 Q2) |
Tecogen Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $28.3M | $24.4M | $25.0M | $25.1M | $22.6M | $27.1M |
| Cost of Goods Sold | $17.4M | $12.8M | $13.9M | $14.9M | $12.7M | $17.2M |
| Gross Profit | $10.8M | $11.6M | $11.1M | $10.2M | $9.9M | $9.8M |
| Operating Income | -$6.0M | -$1.2M | -$2.3M | -$4.4M | -$4.5M | -$8.2M |
| Pre-Tax Income | -$6.1M | $3.7M | -$2.4M | -$4.5M | -$4.7M | -$8.2M |
| Income Tax | $30,171 | $19,491 | $16,352 | $32,491 | $22,565 | $20,615 |
| Net Income | -$6.2M | $3.7M | -$2.4M | -$4.6M | -$4.8M | -$8.2M |
| Diluted EPS | -$0.25 | $0.15 | -$0.10 | -$0.19 | -$0.19 | -$0.30 |
Tecogen Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $7.2M | $5.3M | $6.3M | $5.7M |
| Net Income | -$2.1M | -$4.0M | -$2.1M | -$2.1M |
| Diluted EPS | -$0.07 | -$0.15 | -$0.07 | -$0.07 |
Tecogen Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.5M | $3.6M | $1.9M | $1.4M | $5.4M | $12.4M |
| Current Assets | $22.2M | $25.0M | $22.0M | $20.3M | $22.1M | $28.9M |
| Total Assets | $30.1M | $32.4M | $28.3M | $27.8M | $31.1M | $37.0M |
| Current Liabilities | $8.8M | $8.8M | $7.7M | $10.5M | $16.8M | $9.3M |
| Total Long-Term Debt | $1.9M | — | — | $505,505 | $1.5M | — |
| Total Liabilities | $12.8M | $11.2M | $9.3M | $13.1M | $21.0M | $15.5M |
| Shareholders' Equity | $17.3M | $21.2M | $19.1M | $14.7M | $10.2M | $21.6M |
Tecogen Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.4M | $465,033 | -$1.4M | -$823,315 | $4.1M | -$9.9M |
| Cash From Investing | -$217,765 | -$215,058 | -$348,565 | -$244,889 | -$1.0M | -$464,130 |
| Cash From Financing | -$576,929 | $1.9M | $0 | $505,505 | $1.0M | $17.4M |
| Free Cash Flow | $1.3M | $373,582 | -$1.7M | -$870,166 | $3.1M | -$10.3M |
Figures from Tecogen's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Tecogen financials page for every line item.
Tecogen Company Profile
| Ticker | TGEN |
|---|---|
| Exchange | NYSE |
| Industry | Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip |
| Headquarters | North Billerica, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001537435 |
Frequently Asked Questions
What was Tecogen's revenue in fiscal 2025?
Tecogen (TGEN) reported revenue of $27.1M for fiscal 2025.
What is Tecogen's annual revenue history?
Tecogen's annual revenue by fiscal year: 2020: $28.3M; 2021: $24.4M; 2022: $25.0M; 2023: $25.1M; 2024: $22.6M; 2025: $27.1M.
What was Tecogen's net income in fiscal 2025?
Tecogen reported net income of -$8.2M for fiscal 2025.
What was Tecogen's earnings per share (EPS) in fiscal 2025?
Tecogen's diluted EPS was -$0.30 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Tecogen generate in fiscal 2025?
Tecogen generated -$10.3M of free cash flow in fiscal 2025.
What was Tecogen's revenue last quarter?
In its most recent reported quarter (2026 Q2), Tecogen reported revenue of $5.7M.
How many shares of Tecogen are outstanding?
Tecogen reported a weighted average of 30.0 million basic shares outstanding in 2026 Q2.
What is Tecogen's market cap?
Based on its latest closing price, Tecogen (TGEN) has a market capitalization of about $69.0M.
When does Tecogen's fiscal year end?
Tecogen's fiscal year end, as registered with the SEC, is December 31.
Where is Tecogen headquartered?
Tecogen lists its business address in North Billerica, Massachusetts in its SEC filings.