Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 15,253,975 $ 5,405,233
Accounts receivable, net 6,220,441 6,026,545
Unbilled revenue 126,738 398,898
Inventories, net 9,558,084 9,634,005
Prepaid and other current assets 918,835 680,565
Total current assets 32,078,073 22,145,246
Property, plant and equipment, net 1,788,248 1,738,036
Right-of-use assets - operating leases 1,610,839 1,730,358
Right-of-use assets - finance leases 1,305,353 452,390
Intangible assets, net 2,236,151 2,513,189
Goodwill 2,346,566 2,346,566
Other assets 99,058 166,474
TOTAL ASSETS 41,464,288 31,092,259
Current liabilities:    
Related party notes, current portion 0 1,548,872
Accounts payable 3,417,293 4,142,678
Accrued expenses 2,987,784 2,890,886
Deferred revenue, current portion 3,693,732 6,701,131
Operating lease liabilities, current portion 534,397 430,382
Finance lease liabilities, current portion 252,406 85,646
Acquisition liabilities, current portion 861,479 902,552
Unfavorable contract liability, current portion 73,368 113,449
Total current liabilities 11,820,459 16,815,596
Long-term liabilities:    
Deferred revenue, net of current portion 1,189,074 1,165,951
Operating lease liabilities, net of current portion 1,126,695 1,341,789
Finance lease liabilities, net of current portion 934,109 325,235
Acquisition liabilities, net of current portion 816,951 1,008,760
Unfavorable contract liability, net of current portion 259,619 309,390
Total liabilities 16,146,907 20,966,721
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 29,818,979 issued and outstanding at September 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024 29,819 24,950
Additional paid-in capital 78,090,221 57,845,289
Unearned compensation (762,292) 0
Accumulated deficit (51,894,868) (47,639,894)
Total Tecogen Inc. stockholders’ equity 25,462,880 10,230,345
Non-controlling interest (145,499) (104,807)
Total stockholders’ equity 25,317,381 10,125,538
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 41,464,288 $ 31,092,259