$TGEN
TECOGEN INC.

2023 Q4 Form 10-Q Financial Statement

#000153743523000148 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $5.898M $7.113M
YoY Change 30.16% 7.47%
Cost Of Revenue $3.549M $4.187M
YoY Change 64.89% 12.4%
Gross Profit $2.349M $2.926M
YoY Change -1.26% 1.13%
Gross Profit Margin 39.83% 41.14%
Selling, General & Admin $3.967M $3.294M
YoY Change 13.14% 6.01%
% of Gross Profit 168.84% 112.59%
Research & Development $214.3K $160.0K
YoY Change 9.49% -20.83%
% of Gross Profit 9.12% 5.47%
Depreciation & Amortization $107.7K $170.0K
YoY Change 4.19% 58.51%
% of Gross Profit 4.58% 5.81%
Operating Expenses $4.181M $3.454M
YoY Change 12.94% 4.37%
Operating Profit -$1.832M -$368.3K
YoY Change 38.5% 71.86%
Interest Expense -$13.11K $6.357K
YoY Change -58.16% 178.82%
% of Operating Profit
Other Income/Expense, Net -$78.93K
YoY Change
Pretax Income -$1.828M -$447.2K
YoY Change 27.88% 99.91%
Income Tax $240.00 $0.00
% Of Pretax Income
Net Earnings -$1.846M -$481.6K
YoY Change 29.63% 87.59%
Net Earnings / Revenue -31.3% -6.77%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.07 -$0.02
COMMON SHARES
Basic Shares Outstanding 24.85M shares 24.85M shares
Diluted Shares Outstanding 24.85M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.351M $650.0K
YoY Change -29.4% -77.43%
Cash & Equivalents $1.351M $646.2K
Short-Term Investments
Other Short-Term Assets $360.6K $420.0K
YoY Change -10.11% -17.32%
Inventory $10.55M $11.04M
Prepaid Expenses
Receivables $6.735M $7.695M
Other Receivables $46.15K $50.00K
Total Short-Term Assets $20.31M $21.59M
YoY Change -7.83% -7.59%
LONG-TERM ASSETS
Property, Plant & Equipment $1.163M $1.255M
YoY Change -17.41% -24.5%
Goodwill $2.743M $3.129M
YoY Change 14.02% 30.05%
Intangibles $2.436M $2.308M
YoY Change 144.21% 120.37%
Long-Term Investments $93.74K $80.00K
YoY Change 0.0% -28.88%
Other Assets $201.8K $145.2K
YoY Change 22.12% -21.24%
Total Long-Term Assets $7.487M $7.592M
YoY Change 20.33% 13.25%
TOTAL ASSETS
Total Short-Term Assets $20.31M $21.59M
Total Long-Term Assets $7.487M $7.592M
Total Assets $27.79M $29.19M
YoY Change -1.63% -2.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.514M $4.494M
YoY Change 38.4% 35.13%
Accrued Expenses $2.505M $2.633M
YoY Change 5.04% 16.33%
Deferred Revenue
YoY Change
Short-Term Debt $505.5K $0.00
YoY Change
Long-Term Debt Due $40.54K
YoY Change
Total Short-Term Liabilities $10.48M $10.13M
YoY Change 36.38% 29.6%
LONG-TERM LIABILITIES
Long-Term Debt $159.7K $0.00
YoY Change
Other Long-Term Liabilities $683.3K $429.7K
YoY Change 9.6% -46.06%
Total Long-Term Liabilities $683.3K $429.7K
YoY Change 9.6% -46.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.48M $10.13M
Total Long-Term Liabilities $683.3K $429.7K
Total Liabilities $13.14M $12.78M
YoY Change 41.83% 31.59%
SHAREHOLDERS EQUITY
Retained Earnings -$42.88M -$41.03M
YoY Change 12.01% 11.33%
Common Stock $24.85K $24.85K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.75M $16.52M
YoY Change
Total Liabilities & Shareholders Equity $27.79M $29.19M
YoY Change -1.63% -2.94%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.846M -$481.6K
YoY Change 29.63% 87.59%
Depreciation, Depletion And Amortization $107.7K $170.0K
YoY Change 4.19% 58.51%
Cash From Operating Activities $196.7K -$1.170M
YoY Change -121.42% -904.84%
INVESTING ACTIVITIES
Capital Expenditures $16.85K $10.00K
YoY Change -39.93% -112.86%
Acquisitions
YoY Change
Other Investing Activities $21.96K -$40.00K
YoY Change -209.75% 115.87%
Cash From Investing Activities $5.110K -$50.00K
YoY Change -110.63% -48.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 505.5K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 196.7K -1.170M
Cash From Investing Activities 5.110K -50.00K
Cash From Financing Activities 505.5K 0.000
Net Change In Cash 707.3K -1.220M
YoY Change -173.2% -2586.75%
FREE CASH FLOW
Cash From Operating Activities $196.7K -$1.170M
Capital Expenditures $16.85K $10.00K
Free Cash Flow $179.8K -$1.180M
YoY Change -119.01% -628.77%

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us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description of Business and Basis of Presentation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Description of Business</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Tecogen Inc. (together with its subsidiaries, “we,” “our,” or “us,” or “Tecogen”) designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products. These include natural gas engine driven combined heat and power (CHP) systems, chillers and heat pumps for multi-family residential, commercial, recreational and industrial use.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are known for products that provide customers with substantial energy savings, resiliency from utility power outages and for significantly reducing a customer’s carbon footprint. Our products are sold with our patented Ultera® emissions technology which nearly eliminates all criteria pollutants such as nitrogen oxide ("NOx") and carbon monoxide ("CO"). We developed Ultera® for other applications including stationary engines and forklifts. We were incorporated in the State of Delaware on September 15, 2000.</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">We have wholly-owned subsidiaries American DG Energy, Inc. ("ADGE") and Tecogen CHP Solutions, Inc., and we own a 51% interest in American DG New York, LLC ("ADGNY"), a joint venture. ADGE and ADGNY distribute, own, and operate clean, on-site energy systems that produce electricity, hot water, heat and cooling. ADGE and ADGNY own the equipment that is installed at customers' facilities and sell the energy produced to the customer on a long-term contractual basis. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Our operations are comprised of three business segments:</span></div><div style="padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:13.8pt">our Products segment, which designs, manufactures and sells industrial and commercial cogeneration systems; </span></div><div style="padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:14.5pt">our Services segment, which provides operations and maintenance ("O&amp;M") services for our products under long term service contracts, and</span></div><div style="margin-bottom:6pt;padding-left:72pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:112%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:13.8pt">our Energy Production segment, which installs, operates and maintains distributed generation electricity systems that we own and sells energy generated by such systems in the form of electricity, heat, hot water and cooling to our customers under long-term energy sales agreements.</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The majority of our customers are located in regions with the highest utility rates, typically California, the Midwest and the Northeast. </span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 20, 2022, we announced our intention to increase focus on opportunities relating to Controlled Environment Agriculture (CEA). Tecogen believes that CEA offers an exciting opportunity to apply the company’s expertise in clean cooling, power generation, and greenhouse gas reduction to address critical issues affecting food and energy security. However, we have not taken any formal steps to enter this business as of the date of the filing of this report.</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Our common stock is quoted on OTC Markets Group, Inc.'s OTCQX Best Market tier and trades under the symbol "TGEN."</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 18, 2017, we acquired 100% of the outstanding common stock of American DG Energy Inc., formerly a related entity, in a stock-for-stock merger. </span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 15, 2023, we entered into an agreement ("Agreement") with Aegis Energy Services, LLC (“Aegis”) pursuant to which Aegis agreed to assign to us and we agreed to assume certain Aegis maintenance agreements, we agreed to purchase certain assets, and related matters (“Acquisition”). On April 1, 2023, the Acquisition closed. Under the Agreement, we agreed to acquire from Aegis and assume Aegis rights and obligations arising on or after April 1, 2023, under maintenance agreements pursuant to which Aegis provided maintenance services for approximately 200 cogeneration systems, and acquired certain vehicles and inventory used by Aegis in connection with the performance of such maintenance services, and, following closing hired eight (8) Aegis employees to provide services with respect to such maintenance agreements. At closing, we acquired eight (8) Aegis vehicles for consideration consisting of $170,000 in cash. Also, we issued credits against outstanding accounts receivable due from Aegis in the amount of $300,000 for the acquisition of inventory that Aegis used to provide maintenance services. See Note 8. - Aegis Contract and Related Asset Acquisition.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="margin-bottom:6pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. </span></div><div style="margin-bottom:6pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The condensed consolidated balance sheet at December 31, 2022 has been derived from the audited consolidated financial statements at that date included in our annual report of Form 10-K for the year ended December 31, 2022 ("2022 Form </span></div><div style="margin-bottom:6pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10-K"), but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. </span></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For further information, refer to the consolidated financial statements and footnotes thereto included in Tecogen's Annual Report on Form 10-K for the year ended December 31, 2022.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The accompanying unaudited condensed consolidated financial statements include our accounts and the accounts of entities in which we have a controlling financial interest. Those entities include our wholly-owned subsidiaries American DG Energy Inc., Tecogen CHP Solutions, Inc., and a joint venture, American DG New York, LLC, in which American DG Energy Inc. holds a 51% interest. Investments in partnerships and companies in which we do not have a controlling financial interest but where we have significant influence are accounted for under the equity method. Any intercompany transactions have been eliminated in consolidation. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Our operations are comprised of three business segments. Our Products segment designs, manufactures and sells industrial and commercial cogeneration systems as described above. Our Services segment provides operation and maintenance services to customers for our products. Our Energy Production segment installs, operates and maintains distributed generation electricity systems that we own and sells energy generated by such systems in the form of electricity, heat, hot water and cooling to our customers under long-term sales agreements. </span></div><div style="margin-bottom:6pt;margin-top:5pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liquidity</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 30, 2023, we had cash and cash equivalents of $646,161, a decrease of $1,267,808 or 66.2% from the cash and cash equivalents balance at December 31, 2022. During the nine months ended September 30, 2023, our Products revenue was negatively impacted. Our Products have long sales cycles and the reduced business development activity in the aftermath of COVID-19 resulted in what we believe is a temporary reduction in Products revenue. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    Based on our current operating plan, we believe existing resources, including existing cash, cash flows from operations and the funds available to us under loans from certain related parties will be sufficient to meet our working capital requirements for the next twelve months. However, we may need to generate sufficient additional cash from operations to finance the company during the periods beyond twelve months. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 9, 2023, we entered into an agreement with each of John N. Hatsopoulos, a director and principal shareholder of registrant, and Earl R. Lewis, III, a director, pursuant to which Mr. Hatsopoulos agreed to provide financing to us of up to $1 million, and Mr. Lewis agreed to provide financing to us of $500,000, and potentially an additional $500,000 at his discretion. On October 10, 2023, we issued a promissory note and borrowed $500,000 from Mr. Hatsopoulos. The loan bears interest at 5.12% per annum and is repayable one year from the date of the issuance of the related promissory note. The proceeds of the loans are expected to be used for general working capital purposes.</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If sufficient funds from operating activities are not available to finance our business and operations, we may need to raise additional capital through debt financing or an equity offering to meet our operating and capital needs. There can be no assurance we will be able to raise such additional debt or equity financing or upon terms that are acceptable to us.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">    </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provisions for income taxes in the accompanying unaudited consolidated statements of operations differ from that which would be expected by applying the federal statutory tax rate primarily due to losses for which no benefit is recognized.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Employee Retention Credit</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law providing numerous tax provisions and other stimulus measures, including an employee retention credit (“ERC”), which is a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERC.</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of our election to use an alternative quarter, we qualified for the ERC in the first, second and third quarters of 2021 because our gross receipts decreased by more than 20% from the first, second and third quarters of 2019. As a result of averaging 100 or fewer full-time employees in 2019, all wages paid to employees in the first, second and third quarters of 2021, excluding the wages applied to the Paycheck Protection Program Second Draw Loan, were eligible for the ERC. </span></div>During the three months ended June 30, 2021, we recorded an ERC benefit for the first and second quarters of 2021 of $713,269 and, in the three months ended September 30, 2021 we recorded an ERC benefit for the third quarter of 2021 of $562,752, respectively, in other income (expense), net in the our condensed consolidated statements of operations. On April 14, 2022, we received $564,027 from the Internal Revenue Service representing the ERC claim for the third quarter of 2021 and $1,275 of accrued interest. We received $667,121 from the Internal Revenue Service on January 12, 2023 representing a partial payment of the ERC claimed from the first and second quarters of 2021 and $15,775 of accrued interest, which is reported in other income (expense) in our condensed consolidated statements of operations for the nine months ended September 30, 2023. A current receivable in the amount of $46,148 is included in our condensed consolidated balance sheet as of September 30, 2023.
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170084 usd
CY2022Q3 tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
69370 usd
tgen Amortizationof Contract Related Intangible Assetsand Liabilities Net
AmortizationofContractRelatedIntangibleAssetsandLiabilitiesNet
202753 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
71375 usd
CY2021Q2 tgen Numberof Salesof Energy Producing Assets
NumberofSalesofEnergyProducingAssets
2 sale
CY2021Q2 tgen Numberof Energy Producing Sites Sold
NumberofEnergyProducingSitesSold
8 site
CY2021Q2 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
7000000 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
119902 usd
CY2023Q3 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory
20130 usd
CY2023Q3 us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Financial Liabilities
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentFinancialLiabilities
20130 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 us-gaap Lease Cost
LeaseCost
209506 usd
us-gaap Lease Cost
LeaseCost
616062 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
201578 usd
us-gaap Lease Cost
LeaseCost
608652 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
us-gaap Operating Lease Payments
OperatingLeasePayments
558028 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
549402 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M6D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
754957 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1245549 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
367938 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
687589 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
429737 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
623452 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
797675 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1311041 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
398741 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
127092 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
61044 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
53752 usd
CY2023Q3 tgen Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
130553 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
891084 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
93409 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
797675 usd
CY2023Q3 tgen Lessee Operating Lease Square Feet
LesseeOperatingLeaseSquareFeet
43000 sqft
us-gaap Operating Lease Expense
OperatingLeaseExpense
44254 usd
CY2023Q2 tgen Lessee Operating Lease Square Feet
LesseeOperatingLeaseSquareFeet
26412 sqft
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
244625 usd
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.43
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2022 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.71
CY2022 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
10.33
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
1.10
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
3.20
CY2023Q3 tgen Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVest
0.71
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
68775 usd
us-gaap Share Based Compensation
ShareBasedCompensation
174711 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
69118 usd
us-gaap Share Based Compensation
ShareBasedCompensation
254718 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2022Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
1000000 cad
CY2022Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
150000 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7112530 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
2926021 usd
CY2023Q3 us-gaap Assets
Assets
29186745 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19241106 usd
us-gaap Gross Profit
GrossProfit
7852356 usd
CY2023Q3 us-gaap Assets
Assets
29186745 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6618110 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
2893334 usd
CY2022Q3 us-gaap Assets
Assets
30071323 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20471026 usd
us-gaap Gross Profit
GrossProfit
8687571 usd
CY2022Q3 us-gaap Assets
Assets
30071323 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2021Q3 tgen Employee Retention Credit
EmployeeRetentionCredit
713269 usd
CY2021Q4 us-gaap Interest Income Other
InterestIncomeOther
1275 usd
CY2021Q3 us-gaap Interest Income Other
InterestIncomeOther
15775 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
CY2023Q3 tgen Employee Retention Credit Current
EmployeeRetentionCreditCurrent
46148 usd
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30
dei Document Period End Date
DocumentPeriodEndDate
2023-09-30

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