Key Highlights

  • Total Revenue reached USD 7.87 million, an increase of 9.6% from the year-earlier quarter.
  • Chiller revenue rose 14.3% while cogeneration revenue declined 4.3% year over year.
  • Service revenue of USD 4.46 million rose 13.2% from the prior-year period.
  • Cash and equivalents stood at USD 5.33 million on September 30, 2026.

Tecogen (NYSE American:TGEN) reported third-quarter 2026 revenue of USD 7.87 million, against an estimate of USD 6.41 million. Loss per share was USD 0.05, against an estimate of a loss of USD 0.06. Total revenue was USD 7,873,820 compared with USD 7,183,121 in the same quarter of 2025, an increase of 9.6%.

Product revenue was USD 3.05 million, up 2.2%. Chiller sales rose to USD 2.56 million from USD 2.23 million, which offset lower cogeneration sales of USD 492,890 and no engineered accessories revenue, compared with USD 234,000 a year earlier. The company noted that its product sales mix can swing from period to period because its products are high-dollar, low-volume sales.

Revenue Mix, Margins and Operating Costs

Service revenue was USD 4.46 million, up 13.2%, and energy production revenue was USD 363,259, up 42.0%. Services therefore made up the largest part of the quarter's revenue. By customer location, the United States accounted for USD 7.54 million of the total, Canada for USD 265,381 and other countries for USD 73,289.

Cost of sales was 62.6% of revenue, compared with 69.6% a year earlier, which put Gross Profit at 37.4% of revenue against 30.4%. Total operating expenses were 57.3% of revenue, compared with 59.7%. General and administrative expense was 47.3% of revenue, selling expense was 6.4% and Research and Development was 3.5%.

The loss from operations was 19.9% of revenue, compared with 29.3% in the third quarter of 2025. The consolidated net loss was also 19.9% of revenue, and the net loss attributable to Tecogen was 20.2%, compared with 29.7% a year earlier.

Liquidity and Funding

For the nine months ended September 30, 2026, the company reported a net loss from operations of USD 5.85 million, compared with USD 4.11 million in the same period of 2025. Cash used in operations increased by USD 762,036, which the company attributed to lower utilization of deferred revenue.

Cash and cash equivalents were USD 5.33 million at September 30, 2026, compared with USD 12.43 million at December 31, 2025, a decrease of 57.1%. The accumulated Deficit was USD 61.75 million. The company completed an underwritten public offering on July 21, 2025 of 3,985,000 shares at USD 5.00 per share, which produced net proceeds of about USD 18.1 million. Those proceeds were directed to product development, sales and marketing, hiring, capital expenditures and repayment of related-party promissory notes.

Tecogen moved its listing to the NYSE American in May 2025, when its common stock began trading under its current symbol.

Line Items Worth Tracking Beyond the Quarter

Several reported figures give a frame for the quarters ahead. Product revenue depends on a small number of large orders, so cogeneration, chiller and accessory lines move independently, as the third quarter showed. Service revenue now carries the largest share of the Top Line and rose 13.2% in the period.

The cash balance of USD 5.33 million, against USD 12.43 million at the start of the year, and the nine-month operating cash outflow are the Liquidity markers in the filing. Gross profit as a share of revenue and the ratio of operating expenses to revenue are the Margin markers reported for the quarter.