Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 12,430,287 $ 5,405,233
Accounts receivable, net 4,280,991 6,026,545
Unbilled revenue 138,020 398,898
Inventory, net 10,949,697 9,634,005
Prepaid and other current assets 1,086,310 680,565
Total current assets 28,885,305 22,145,246
Property, plant and equipment, net 1,609,321 1,738,036
Right of use assets - operating leases 1,490,094 1,730,358
Right of use assets - finance leases 1,434,080 452,390
Intangible assets, net 2,146,503 2,513,189
Goodwill 1,248,442 2,346,566
Other assets 176,358 166,474
TOTAL ASSETS 36,990,103 31,092,259
Current liabilities:    
Related party notes payable 0 1,548,872
Accounts payable 3,381,545 4,142,678
Accrued expenses 2,814,150 2,890,886
Deferred revenue 1,530,977 6,701,131
Operating lease liability, current 538,641 430,382
Finance lease obligations, current 280,265 85,646
Acquisition liabilities, current 677,162 902,552
Unfavorable contract liabilities, current 44,433 113,449
Total current liabilities 9,267,173 16,815,596
Long-term liabilities:    
Deferred revenue, net of current portion 3,265,886 1,165,951
Operating lease liability, long-term 1,004,488 1,341,789
Finance lease obligations, net of current portion 992,285 325,235
Acquisition liabilities, net of current portion 826,757 1,008,760
Unfavorable contract liability, net of current portion 160,902 309,390
Total liabilities 15,517,491 20,966,721
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Stockholders’ equity: 29,847 24,950
Additional paid-in capital 78,216,467 57,845,289
Unearned compensation (712,019) 0
Accumulated deficit (55,888,649) (47,639,894)
Equity, Attributable to Parent, Total 21,645,646 10,230,345
Noncontrolling interest (173,034) (104,807)
Equity, Including Portion Attributable to Noncontrolling Interest, Total 21,472,612 10,125,538
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 36,990,103 $ 31,092,259