Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,333,436 $ 12,430,287
Accounts receivable, net of allowances for expected credit losses of $563,952 and $389,079, respectively 5,181,659 4,280,991
Inventories, net 11,486,060 10,949,697
Unbilled revenue 138,020 138,020
Prepaid and other current assets 876,832 1,086,310
Total current assets 23,016,007 28,885,305
Property, plant and equipment, net 1,469,871 1,609,321
Right-of-use assets - operating leases, net 1,263,405 1,490,094
Right-of-use assets - finance leases, net 1,407,078 1,434,080
Intangible assets, net 1,879,409 2,146,503
Goodwill 1,248,442 1,248,442
Other assets 82,080 176,358
TOTAL ASSETS 30,366,292 36,990,103
Current liabilities:    
Accounts payable 3,109,047 3,381,545
Accrued liabilities 2,606,828 2,814,150
Deferred revenue, current portion 1,328,096 1,530,977
Operating lease obligations, current portion 488,460 538,641
Finance lease obligations, current portion 340,820 280,265
Acquisition liabilities, current portion 635,016 677,162
Unfavorable contract liability, current portion 39,357 44,433
Total current liabilities 8,547,624 9,267,173
Long-term liabilities:    
Deferred revenue, net of current portion 3,118,340 3,265,886
Operating lease obligations, net of current portion 834,732 1,004,488
Finance lease obligations, net of current portion 900,082 992,285
Acquisition liabilities, net of current portion 568,820 826,757
Unfavorable contract liability, net of current portion 131,806 160,902
Total liabilities 14,101,404 15,517,491
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 30,187,822 issued and outstanding at September 30, 2026 and 29,846,479 shares issued and outstanding at December 31, 2025 30,189 29,847
Additional paid-in capital 79,947,620 78,216,467
Unearned compensation (1,822,840) (712,019)
Accumulated deficit (61,747,393) (55,888,649)
Total Tecogen Inc. stockholders’ equity 16,407,576 21,645,646
Noncontrolling interest (142,688) (173,034)
Tecogen Inc. stockholders’ equity: 16,264,888 21,472,612
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 30,366,292 $ 36,990,103