Tecogen Q3 revenue rises 27.6% driven by increased product sales

Reuters11-13
Tecogen Q3 revenue rises 27.6% driven by increased product sales

Overview

  • Tecogen Q3 revenue rises 27.6% yr/yr, driven by increased product sales

  • Net loss for Q3 increases to $2.13 mln, impacted by higher operating expenses

  • Company invests $700k in new engines to improve service margins long-term

Outlook

  • Tecogen sees potential for increased chiller sales from data center developers

  • Company is investing in R&D to enhance natural gas cooling technology

  • Tecogen aims to improve service margins through product improvements

Result Drivers

  • PRODUCT SALES - Increased sales of chillers and cogeneration products drove revenue growth, with product revenue up 114.5% yr/yr

  • DATA CENTER INTEREST - Co reports growing interest from larger data center developers, potentially expanding chiller sales

  • R&D INVESTMENT - Increased R&D spend aimed at improving natural gas cooling technology and service intervals

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$7.18 mln

Q3 Net Income

-$2.13 mln

Q3 Gross Margin

30.40%

Q3 Income from Operations

-$2.10 mln

Q3 Operating Expenses

$4.28 mln

Press Release: ID:nACSCVvkna

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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