TECOGEN INC.TGEN

TECOGEN INC. Segments Disclosure

10-KFiled Mar 19, 20262 min read
Segments
Our Chief Executive Officer, who is our Chief Operating Decision Maker ("CODM") manages our business through three operating segments, consistent with how our CODM: (i) accessed operating performance on a periodic basis, (ii) makes resource allocation decisions and (iii) designates responsibilities of his direct reports. As of December 31, 2025, we were organized into three operating segments through which senior management evaluates our business. These segments, as described in more detail in Note 1. "Nature of Business and Operations", are organized around the products, services and energy production provided to customers and represent our reportable segments.
Our CODM uses segment profit, based on operating income after the elimination of intercompany transactions and segment identifiable assets to assess segment operating performance and to make resource allocation decisions. Certain costs such as other income (expense) are not included in the measure of segment profit and are excluded from managements's assessment of segment financial performance.
Corporate includes finance, treasury, certain research and development costs, tax and legal costs and certain other costs which are not allocated to the reportable segments.
The following table presents information by reportable segment for the years ended December 31, 2025 and 2024:
ProductsServicesEnergy ProductionCorporateTotal
Year ended December 31, 2025
Revenues$9,133,450 $16,616,523 $1,323,737 $— $27,073,710 
Cost of sales6,097,501 10,202,774 948,927 — 17,249,202 
Gross profit3,035,949 6,413,749 374,810 — 9,824,508 
Operating expenses2,697,052 8,267,955 1,122,163 5,982,168 18,069,338 
(Loss) profit from operations$338,897 $(1,854,206)$(747,353)$(5,982,168)$(8,244,830)
Identifiable assets$8,431,913 $13,259,334 $1,402,969 $13,895,887 $36,990,103 
Year ended December 31, 2024
Revenues$4,443,996 $16,074,870 $2,100,670 $— $22,619,536 
Cost of sales3,014,655 8,432,876 1,301,832 — 12,749,363 
Gross profit1,429,341 7,641,994 798,838 — 9,870,173 
Operating expenses1,947,426 6,625,965 319,514 5,511,355 14,404,260 
(Loss) profit from operations$(518,085)$1,016,029 $479,324 $(5,511,355)$(4,534,087)
Identifiable assets$9,487,422 $11,695,370 $2,855,386 $7,054,081 $31,092,259 

Historical Timeline

Fiscal YearFiled
2025Mar 19, 2026Showing above
2024Mar 18, 2025
2023Mar 25, 2024
2022Mar 23, 2023
2021Mar 10, 2022
2020Mar 18, 2021
2019Mar 12, 2020
2018Mar 29, 2019
2017Mar 21, 2018

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesDebtCommitmentsNew Standards