Tecogen Stock Price, News & Analysis

Tecogen (OTCQX:TGEN) has received orders for seven 400-ton DTX chillers for the Las Vegas Convention Center. The chillers are part of a modernization project for the center's Central Cooling Plant. The natural gas chillers will help reduce expensive peak-time electricity charges during conventions when energy and cooling loads spike. The installation is scheduled for 2025 and includes a comprehensive 10-year service contract. Tecogen will establish a new service center in Las Vegas, which the company expects to catalyze additional projects in Nevada.

Tecogen Inc. (OTCQX:TGEN) reported Q3 2024 financial results with revenues of $5.63 million, down 20.8% from $7.11 million in Q3 2023. The company posted a net loss of $0.93 million, compared to a $0.48 million loss in the same period last year. The decrease in revenue was primarily due to manufacturing operations relocation in April 2024. The company's backlog increased to $10.8 million, with cash balance at $1.28 million, supported by $1.0 million additional funding from related parties. Tecogen expects sequential revenue growth and is progressing towards its first data center projects by early 2025.

Tecogen (OTCQX:TGEN) has announced its Q3 2024 earnings release and conference call schedule. The company will release financial results on Thursday, November 14th, with a conference call and webcast at 9:30 AM Eastern Time on the same day. The earnings release and supplemental slides will be available on Tecogen's website. Investors can access the call by dialing 877-407-7186 (US/Canada) or 201-689-8052 (International). A playback option will be available one hour after the call using Conference Call ID #13672659.

Tecogen Inc. (OTCQX:TGEN) reported Q2 2024 results with revenues of $4.7 million and a net loss of $1.5 million, compared to revenues of $6.7 million and a net loss of $0.8 million in Q2 2023. The company generated $0.1 million in cash from operations during H1 2024. Key points:

- EPS for Q2 2024 was $(0.06)/share vs $(0.03)/share in Q2 2023
- Products revenue decreased 95.1% due to manufacturing relocation
- Service revenue increased 4.4% to $4.1 million
- Energy Production revenue increased 37.5% to $482,000
- Gross margin improved to 44.0% from 42.0% in Q2 2023
- Adjusted EBITDA was negative $1.3 million for Q2 2024

CEO Abinand Rangesh expressed optimism about new markets and potential product orders in Q3 2024.

Tecogen Inc. (OTCQX:TGEN) has announced the schedule for its Q2 2024 earnings release and conference call. The company will release its financial results on Thursday, August 8th. A conference call and webcast with senior management will be held on the same day at 9:30 AM Eastern Time to discuss the company's Q2 2024 financial performance.

Investors can access the earnings press release and supplemental call slides on Tecogen's website in the 'Investor Relations' section under 'Financial Results'. To participate in the audio portion of the call, dial 800-715-9871 (US/Canada) or 646-307-1963 (international) and ask to join the Tecogen earnings call or enter company ID 3016326. A webcast option is also available. The call will be recorded and available for playback one hour after it ends.

Tecogen has announced the acquisition of balance of plant service contracts in Canada, significantly expanding their current agreements. Previously, Tecogen serviced only cogeneration units, but the new contracts include ancillary equipment, leading to a projected annual revenue increase of $400,000 to $500,000 for their Canadian service center. CEO Abinand Rangesh expressed satisfaction with the expanded services, highlighting the potential for sustained revenue growth and future expansion in Ontario.

Tecogen Inc. reported revenues of $6.2 million with a 15% QoQ increase compared to the previous year. The net loss decreased to $1.1 million from $1.5 million in 2023. Cash from operations was $0.2 million, ending with a cash balance of $1.5 million. The company highlighted record service revenue, positive cash flow, and no further line of credit drawdowns.

Tecogen Inc. (TGEN) has acquired service agreements for 31 additional cogeneration units, totaling 83 for the year. In February, the company acquired agreements for 52 units, with 16 presently in operation and 36 to be online later this year. Tecogen's CEO, Abinand Rangesh, highlighted that service contracts increase uptime, leading to higher customer savings. The company plans to secure more service contracts to boost revenue and cover fixed costs while pursuing larger product orders.