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Tecogen (TGEN) investor relations material
Tecogen Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue rose 54% year-over-year to $7.3M, driven by strong product sales, new chiller launches, and progress in the data center strategy, including a first LOI for a 100MW+ pilot project and robust lead generation.
Net loss narrowed to $1.46M from $1.54M in Q2 2024, reflecting higher gross profit despite increased operating expenses.
Raised $18.2M–$18.6M in July 2025 to fund expansion into data centers, product development, and marketing, strengthening the balance sheet.
Launched a dual power source 300-ton chiller, targeting data center flexibility and resiliency, with patent issued in March 2024.
Uplisted to NYSE American in May 2025, enhancing market visibility.
Financial highlights
Q2 2025 revenues increased to $7.3M from $4.7M in Q2 2024, with gross profit up 18% to $2.5M; gross margin declined to 33.8%–34% from 44% due to higher labor and material costs.
Net loss per share was $0.06, unchanged year-over-year; adjusted EBITDA loss improved to $1.16M from $1.30M.
Backlog at quarter end was $4.7M–$6.2M, with $2.5M–$3.5M in cannabis projects expected to close in Q3/Q4.
Cash and cash equivalents at June 30, 2025 were $1.64M, increasing to $18.2M–$18.7M post capital raise.
Operating expenses rose 9% year-over-year due to higher payroll, benefits, and sales/R&D costs.
Outlook and guidance
Management prioritizes data center strategy, aiming to convert LOIs to purchase orders and sell all 2026 capacity to one or two customers.
Plans to remove factory and supply chain bottlenecks, scale manufacturing, and improve hybrid chiller margins with volume.
Raised capital will support expansion into data centers, product launches, and general corporate purposes.
Marketing plan with Vertiv finalized, with releases expected in Q3 and Q4.
Exploring licensing and factory scale-up as longer-term initiatives.
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