v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,782,573 $ 12,430,287
Accounts receivable, net of allowances for expected credit losses of $445,683 and $389,079, respectively 4,199,469 4,280,991
Inventories, net 12,027,655 10,949,697
Unbilled revenue 138,020 138,020
Prepaid and other current assets 874,627 1,086,310
Total current assets 24,022,344 28,885,305
Property, plant and equipment, net 1,530,309 1,609,321
Right-of-use assets - operating leases, net 1,241,494 1,490,094
Right-of-use assets - finance leases 1,514,653 1,434,080
Intangible assets, net 1,968,132 2,146,503
Goodwill 1,248,442 1,248,442
Other assets 79,065 176,358
TOTAL ASSETS 31,604,439 36,990,103
Current liabilities:    
Accounts payable 3,069,563 3,381,545
Accrued expenses 2,686,971 2,814,150
Deferred revenue, current portion 967,604 1,530,977
Operating lease obligations, current portion 478,847 538,641
Finance lease obligations, current portion 332,087 280,265
Acquisition liabilities, current portion 633,382 677,162
Unfavorable contract liability, current portion 41,043 44,433
Total current liabilities 8,209,497 9,267,173
Long-term liabilities:    
Deferred revenue, net of current portion 3,208,904 3,265,886
Operating lease obligations, net of current portion 816,410 1,004,488
Finance lease obligations, net of current portion 989,519 992,285
Acquisition liabilities, net of current portion 687,345 826,757
Unfavorable contract liability, net of current portion 140,381 160,902
Total liabilities 14,052,056 15,517,491
Commitments and contingencies
Tecogen Inc. shareholders’ equity:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 30,179,072 issued and outstanding at June 30, 2026 and 29,846,479 shares issued and outstanding at December 31, 2025 30,180 29,847
Additional paid-in capital 79,804,451 78,216,467
Unearned compensation (1,958,492) (712,019)
Accumulated deficit (60,157,825) (55,888,649)
Total Tecogen Inc. stockholders’ equity 17,718,314 21,645,646
Noncontrolling interest (165,931) (173,034)
Tecogen Inc. stockholders’ equity: 17,552,383 21,472,612
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 31,604,439 $ 36,990,103