Tecogen Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw a 21% revenue decline and higher net loss, but gross margins improved and backlog grew. Strong engagement with major data center operators and a robust project pipeline support expectations for revenue growth in Q3.
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Revenue and gross profit declined year-over-year due to lower product sales and higher operating costs, but a major Vertiv order and over $8 million in approved non-data center projects signal growing demand. Cost reductions and new customer demos are expected to improve results in the coming quarters.
Fiscal Year 2025
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Revenue grew 19.7% in 2025, but Q4 saw declines due to project delays and higher costs, resulting in a wider net loss. The Vertiv demonstration project is expected to unlock significant data center opportunities, while manufacturing and service improvements aim to restore margins.
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Q3 2025 revenue grew 29% year-over-year, driven by strong product sales, but net loss widened due to lower service margins and higher costs. Data center cooling strategy gained traction with major industry players, and manufacturing scale-up is underway.
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Q2 2025 saw strong revenue growth and narrowed losses, driven by surging product sales and a major push into the data center market. New chiller products, expanded capacity, and a robust cash position support efforts to secure large-scale projects and address rising industry demand.
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Revenue grew 17.6% to $7.3M in Q1 2025, with improved margins and a narrowed adjusted EBITDA loss. Uplisting to NYSE American and a strong data center strategy, supported by Vertiv, position the company for larger projects and future growth.
Fiscal Year 2024
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Revenue for Q4 2024 rose 3% year-over-year to $6.1 million, with gross margin up to 45%. A new partnership with Vertiv targets the $20 billion data center cooling market, and a strong backlog and recurring revenue position the company for growth in 2025.
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Backlog more than doubled to over $10 million, with a major Las Vegas Convention Center project and strong data center interest. Q3 revenue fell 21% year-over-year due to production constraints, but sequential growth is forecasted as manufacturing ramps up and new orders close.
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Q2 revenue fell 30% year-over-year due to a factory move, with a net loss of $1.54 million. Service and energy production segments grew, and a strong backlog plus new data center opportunities position the company for improved results in the second half of 2024.