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New words:
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Removed:
abandoned, appointment, back, bolster, carried, cleaning, closely, closure, conform, cope, deduction, depiction, Deployment, disrupted, distancing, evolved, extinguishment, faithful, forgiven, heater, hotel, invoicing, leave, NA, nontaxable, pickup, preceding, progressively, prompting, protective, qualifying, reclassified, recommended, refund, Restricting, resulted, revised, satisfaction, SBA, Shelf, spreading, suspected, sweeping, tampering, Tedom, terminate, thereon, turbulent, unnecessary, unprecedented, unsecured, washing, Webster, Yanmar
Financial report summary
?Competition
Capstone Green EnergyRisks
- We may need to raise additional financing if cash generated from our operations is insufficient.
- If we experience a period of significant growth or expansion, it could place a substantial strain on our resources.
- Our operating history is characterized by losses and there can be no assurance we will be able to increase our sales and sustain profitability in the future.
- We are dependent on a limited number of third-party suppliers for the supply of key components for our products.
- The amount of our backlog is subject to fluctuation due to our customers’ experiencing unexpected delays in financing, permitting or modifications in specifications of the equipment.
- We experience significant fluctuations in revenues from quarter to quarter on our product sales which may make period to period comparisons difficult.
- We expect significant competition for our products and services.
- We may not achieve production cost reductions necessary to competitively price our products, which would adversely affect our sales.
- Our products involve a lengthy sales cycle and we may not anticipate sales levels appropriately, which could impair our results of operations.
- The economic viability of our projects depends on the price spread between natural gas and other fuel and electricity, and the variability of these prices creates a risk that our projects will not be economically viable and that potential customers will avoid such energy price risks.
- We may make acquisitions or take other corporate strategic actions that could harm our financial performance.
- Expiring customer contracts may lead to decreases in revenue and increases in expenses.
- Our revenue from energy billing may be adversely impacted by increases in the price of natural gas, reductions in utility rates for electrical power, weather conditions, or by an increase in remote work and study environments, all of which could reduce our revenue.
- We may be affected by global climate change or by legal, regulatory, or market responses to such change.
- Our financial condition and results of operations could suffer if there is an impairment of goodwill or intangible assets.
- If we are unable to maintain our technological expertise in design and manufacturing processes, we will not be able to successfully compete.
- Our business is subject to product liability and warranty claims.
- Agreements with our customers may include potential liquidated damages relating to construction delays or performance guaranties.
- Utilities or governmental entities could hinder our entry into and growth in the marketplace, and we may not be able to effectively sell our products.
- The reduction, elimination or expiration of government and economic incentives for applications of our equipment could reduce demand for our equipment and harm our business.
- We may be exposed to substantial liability claims if we fail to fulfill our obligations to our customers or our on-site equipment malfunctions.
- We may be subject to litigation, which is expensive and could divert management attention.
- Losses or unauthorized access to or releases of confidential information, including personal information, could subject us to significant reputational, financial, legal and operational consequences.
- We are exposed to credit risks with respect to some of our customers.
- Investment in our Common Stock is subject to price fluctuations and market volatility.
- If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
- Because our directors and executive officers are among our largest stockholders, they can exert influence over our business and affairs and have actual or potential interests that may differ from other stockholders or investors.
- Current stock holdings may be diluted if we make future equity issuances or if outstanding options are exercised for shares of our common stock.
- Future sales of our shares by our existing stockholders may cause our stock price to fall.
- Because we have not and do not intend to pay cash dividends, our stockholders receive no current income from holding our stock.
- We incur substantial costs to operate as a public reporting company.
- Because our common stock is not traded on a national securities exchange, our stock has limited liquidity and our ability to raise capital is impaired.
- Certain provisions of our charter and bylaws may discourage mergers and other transactions.
- Our board of directors may issue shares of preferred stock without stockholder approval.
- In order to comply with public reporting requirements, we must continue to strengthen our financial systems and internal controls, and failure to do so could adversely affect our ability to provide timely and accurate financial statements.
- Investor confidence in the price of our stock may be adversely affected if we are unable to comply with Section 404 of the Sarbanes-Oxley Act of 2002. As of the end of the period covered by this report, our principal executive officers and our principal financial officer have concluded there is a material weakness in our disclosure controls and procedures and our internal control over financial reporting, which could harm our operating results or cause us to fail to meet our reporting obligations.
- Our intellectual property may not be adequately protected.
- Others may assert that our technology infringes their intellectual property rights.
- Our success is dependent upon attracting and retaining highly qualified personnel and the loss of key personnel could significantly hurt our business.
- Our business may be impacted by political events, war, terrorism, public health issues, natural disasters and other circumstances that are not within our control.
- We depend on a small number of customers for a substantial portion of our product revenues. The loss of one or more of these customers, or our inability to collect outstanding receivables from such customers could have a material adverse effect on our financial results.
Management Discussion
- TECOGEN INC.
- Revenues in 2023 were $25,139,419 compared to $25,002,614 in 2022, an increase of $136,805 or 0.5% due to increased Services revenues which were offset by decreased Products revenues.
- Product revenues in 2023 were $8,859,946 compared to $11,156,099 in 2022, a decrease of $2,296,153 or 20.6%. The revenue decrease in 2023 compared to 2022 is due primarily to a decrease in cogeneration sales of $2,517,902, due to decreased unit volume and a $47,596 decrease in sales of engineered accessories, which are partially offset by an increase in chiller sales of $269,345. Our product mix, as well as product revenue, can vary significantly from period to period as our products are high dollar, low volume sales in which revenue is recognized upon shipment.