Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 9,332,650 $ 12,430,287
Accounts receivable, net of allowances for expected credit losses of $416,448 and $389,079, respectively 5,056,943 4,280,991
Inventories, net 11,439,973 10,949,697
Unbilled revenue 138,020 138,020
Prepaid and other current assets 581,756 1,086,310
Total current assets 26,549,342 28,885,305
Property, plant and equipment, net 1,558,124 1,609,321
Right-of-use assets - operating leases 1,366,435 1,490,094
Right-of-use assets - finance leases 1,606,080 1,434,080
Intangible assets, net 2,056,855 2,146,503
Goodwill 1,248,442 1,248,442
Other assets 79,480 176,358
TOTAL ASSETS 34,464,758 36,990,103
Current liabilities:    
Accounts payable 3,612,215 3,381,545
Accrued expenses 2,641,746 2,814,150
Deferred revenue, current portion 950,867 1,530,977
Operating lease liability, current portion 527,990 538,641
Finance lease liability, current portion 349,943 280,265
Acquisition liabilities, current portion 674,019 677,162
Unfavorable contract liability, current portion 41,893 44,433
Total current liabilities 8,798,673 9,267,173
Long-term liabilities:    
Deferred revenue, net of current portion 3,244,037 3,265,886
Operating lease liability, net of current portion 892,239 1,004,488
Finance lease liability, net of current portion 1,085,015 992,285
Acquisition liabilities, net of current portion 754,029 826,757
Unfavorable contract liability, net of current portion 150,642 160,902
Total liabilities 14,924,635 15,517,491
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 29,905,229 issued and outstanding at March 31, 2026 and 29,846,479 shares issued and outstanding at December 31, 2025 29,906 29,847
Additional paid-in capital 78,353,394 78,216,467
Unearned compensation (662,839) (712,019)
Accumulated deficit (58,009,222) (55,888,649)
Total Tecogen Inc. stockholders’ equity 19,711,239 21,645,646
Noncontrolling interest (171,116) (173,034)
Tecogen Inc. shareholders’ equity: 19,540,123 21,472,612
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 34,464,758 $ 36,990,103