Tecogen Inc. reported revenues of $7.28 million for the first quarter ended March 31, 2025, marking a 17.6% increase compared to $6.19 million in Q1 2024. The company significantly reduced its net loss to $0.66 million, down from $1.10 million in the prior-year quarter, and its loss from operations narrowed to $0.59 million from $1.05 million.
Products revenues saw a substantial 69.9% increase to $2.53 million, driven by higher chiller and cogeneration sales. Services revenues also grew by 5.7% to $4.25 million due to existing contracts. Gross profit margin improved to 44.3% from 41.6% in Q1 2024, primarily from better margins in the Products and Energy Production segments.
Despite a 26.7% decrease in Energy Production revenues to $0.50 million due to contract expirations, the overall financial performance showed positive momentum. Adjusted EBITDA loss narrowed to $0.38 million from $0.90 million in Q1 2024, indicating improved operational efficiency. Cash and cash equivalents stood at $4.07 million as of March 31, 2025.
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