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Our Company Tecogen Inc., a Delaware corporation (together with its subsidiaries "we", "our", "us", "Tecogen," or "Company") produces commercial and industrial, natural-gas-fueled engine-driven, combined heat and power (CHP) products that reduce energy costs, decrease greenhouse gas emissions and alleviate congestion on the national power grid. Our products supply electric power or mechanical p…
The business is unprofitable at the operating level (-30.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 19.7%, still solid. Margins contracted 10.4pp, which offsets some of the top-line progress.
Free cash flow declined 434% versus the prior year, cash generation momentum has weakened. ROIC dropped from -23.73% to -33.90%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$26M
▲ +19.7% YoY
Net Income (TTM)
-$10M
▼ -73.3% YoY
Op. Margin
-37.45%
▼ -10.4pp YoY
ROIC
-35.52%
▼ -10.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$12M
▼ -433.6% YoY
Op. Cash Flow (TTM)
-$12M
▼ -344.1% YoY
Net Debt
-$6M
Net Cash Position
Cash & Equiv.
$9M
5Y CAGR: -0.9%
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