OTTAWA, ON / ACCESS Newswire / August 13, 2025 / Westend Academy (Ottawa School of Beauty Ltd), a locally owned and operated beauty school, has won the 2025 Consumer Choice Award in the School – Hair Styling & Esthetics category for Ottawa. This recognition reflects the school’s long-standing commitment to excellence in beauty education, empowering students to build rewarding careers in hairstyling, esthetics, and medical spa services.
With campuses in Ottawa and London, Ontario, Westend Academy has earned a reputation as a top-tier cosmetology institution offering full-time OSAP-eligible diploma programs. The Academy specializes in hands-on, real-client salon and spa training that prepares graduates to enter the workforce confident, experienced, and job-ready.
Award-Winning Education Backed by Experience
Founded in 1998, Westend Academy provides students with real-world learning environments that mimic professional settings. Students perform services for paying clients under the guidance of experienced instructors, gaining the technical skills, client service abilities, and speed that today’s employers demand.
“We pride ourselves on producing graduates who are well-trained, adaptable, and ready to contribute on day one,” says the Westend Academy team. “This award reflects the dedication of our instructors and the success of our students.”
Small Class Sizes, Personalized Mentorship
Westend Academy maintains a low student-to-instructor ratio, allowing for more personalized feedback and mentorship. With expert instructors like Phil Weaver (Executive Director with 30+ years in the salon industry), Terry Ralph (Barbering & Hairstyling instructor since 2003), and Mira Dayfallah (Medical Esthetics instructor with 20+ years of experience), students are guided by professionals who bring deep industry knowledge and passion to the classroom.
Programs Designed for Career Success
The Academy offers comprehensive training across multiple programs:
Professional Hairstyling
Barbering
Esthetics & Advanced Skin Care
Medical Esthetics & Spa Therapies
Courses are continuously updated to match the demands of the beauty and wellness industry, integrating the latest tools, digital resources, and product innovations. Students train with industry-leading equipment and multimedia instruction, preparing them for a range of careers in beauty, wellness, and spa management.
Hands-On Experience That Makes a Difference
From the first week of class, students work in Westend Academy’s operational salon and spa clinics-gaining real experience with clients in haircuts, coloring, skincare, waxing, massage, facials, laser treatments, and more. This immersive approach not only improves technical proficiency but helps students build speed, confidence, and professionalism before they graduate.
Job Placement & Continued Support
Graduates benefit from the Academy’s strong industry network and dedicated Job Connect program, which helps place students in salons, spas, and medi-spa clinics across Ontario. Alumni frequently return to share success stories or hire future grads, reinforcing the school’s strong community ties.
For entrepreneurial students, Westend Academy offers guidance in salon ownership, branding, and customer management-empowering future beauty professionals to become business leaders.
Accessible, Supported Learning
All diploma programs are eligible for OSAP, and the Academy offers tuition payment plans and financial aid options. As a registered career college under the Ontario Career Colleges Act, Westend Academy ensures its programs meet high standards in both academic and hands-on training.
Commitment That Builds Careers
The 2025 Consumer Choice Award reflects the trust Ottawa students and families place in Westend Academy’s training model. With more than 25 years of success and thousands of alumni in the field, the school remains committed to building confident, skilled professionals who are ready to make their mark.
“This recognition means everything to us,” the team says. “It represents the trust our students and community place in our school, and we’ll continue to raise the bar for beauty education in Ottawa and beyond.”
About Westend Academy: Westend Academy (Ottawa School of Beauty Ltd) is a leading beauty school offering diploma programs in hairstyling, barbering, esthetics, and medical esthetics. With two campuses in Ottawa and London, the Academy delivers hands-on, real-client training in a professional environment. Westend Academy is registered under the Ontario Career Colleges Act and offers OSAP-eligible programs, small class sizes, and strong career placement support. To learn more about Westend Academy’s award-winning programs, visit beautyacademy.ca or explore their CCA Page.
About Consumer Choice Award: Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.
BARRIE, ON / ACCESS Newswire / August 13, 2025 / Abrams Towing, a trusted provider of professional towing services in Southern Ontario, has been named a 2025 Consumer Choice Award recipient in the category of Towing Services for the Barrie region. This recognition reflects Abrams’ longstanding commitment to safe, efficient, and dependable roadside assistance-backed by more than 40 years of industry experience.
With a reputation for fast response times and professional service, Abrams has grown from a one-man operation into Canada’s largest towing company. Today, the company provides 24/7 towing and roadside assistance to individuals, businesses, municipalities, and emergency services across key regions, including Barrie, Newmarket, Toronto, Mississauga, Ottawa, Durham Region, Oakville, Hamilton, London, Cambridge and Windsor.
Over Four Decades of Trusted Towing Experience
Abrams Towing has built its operations around reliability, expertise, and customer care. With a fleet of more than 160 state-of-the-art tow trucks and a team of certified operators, the company handles a wide range of towing and recovery needs-from light-duty and flatbed towing to heavy-duty recovery, accident cleanup, and winching.
“Our team understands that breakdowns and accidents are stressful,” says the Abrams Towing team. “That’s why we’ve built a model focused on responsiveness, safety, and customer care-no matter the size or scope of the job.”
24/7 Towing Services Across Southern Ontario
Abrams operates a 24/7 live dispatch system, ensuring timely service around the clock. With operators strategically located throughout Ontario, including in Barrie, the company is well-positioned to respond quickly in both urban and rural areas.
Abrams offers a comprehensive suite of services, including:
Private Property Towing
24/7 Emergency Towing
Long Distance Towing
Roadside Assistance
Lockouts
Boosts
Fuel Delivery
Tire Changes
Specialty Towing / Equipment Winching
Commercial Towing
Drivers arrive fully equipped to manage most issues on-site, helping minimize downtime and stress for customers.
“We take pride in being there for our customers when they need us most,” the team adds. “Whether someone is stranded on the highway or a commercial client needs reliable support, our priority is to respond quickly and professionally.”
Committed to Safety and Innovation Abrams places a strong emphasis on safety and operator training. All vehicles are equipped with GPS tracking, emergency lighting, and modern safety features to ensure compliant and secure towing. Operators follow strict safety protocols and receive ongoing education to stay aligned with industry standards.
To support long-term growth and environmental goals, Abrams has also invested in fleet upgrades and efficiency measures that reduce emissions and improve service delivery.
Serving Barrie and the Greater Region While Abrams has a large presence throughout Ontario, local teams-like the one in Barrie-are essential to delivering personalized, community-focused service. Their knowledge of local roads, traffic conditions, and regional infrastructure allows them to provide fast, effective support tailored to each area’s needs.
“This recognition reinforces the commitment we’ve made to every driver, fleet manager, and emergency responder we work with,” says the Abrams Towing team. “We’re honoured to serve the Barrie community and proud to be part of a network that prioritizes safety, speed, and service excellence.”
Recognition Backed by Independent Research The Consumer Choice Award is the only organization in North America that recognizes business excellence through a four-step, independent research process. This includes third-party surveys, consumer feedback analysis, and brand reputation evaluation within each local market.
Being named a Consumer Choice Award recipient means Abrams Towing has earned high marks for customer satisfaction and service quality from the people who matter most-their customers.
About Consumer Choice Award: Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.
WATERLOO, ON / ACCESS Newswire / August 13, 2025 / Mitchell Blackwell Parging & Masonry Inc., a family-run masonry specialist known for quality craftsmanship, has won the 2026 Consumer Choice Award in the Masonry category for the Waterloo Region. This award recognizes Mitchell Blackwell Parging & Masonry Inc.’s 11 years of service-building on a family legacy that spans nearly four decades-with a focus on quality, reliability, and exceptional value.
Established in 2014 by Mitchell Blackwell-and building on two generations of skilled bricklayers-the company has become a trusted name in Kitchener-Waterloo and surrounding areas. Their diverse portfolio ranges from foundation repair and parging finishes to chimney restoration, stone patios, tuckpointing, epoxy flooring, and decorative concrete work.
“Our foundation is built on family values,” says Mitchell Blackwell, founder. “With nearly four decades of combined experience, we approach every project-whether parging a foundation or restoring heritage brick-with precision, respect, and pride.”
Comprehensive Masonry & Parging Solutions Mitchell Blackwell Parging & Masonry offers a wide range of services designed to meet both aesthetic and structural needs:
Parging & Foundation Repair – Sand‑face, stone‑face, and custom finishes designed to enhance and protect foundations.
Brickwork & Stone Construction – Chimney and fireplace restoration, retaining walls, veneer stone, custom patio features, heritage brick repair, and tuckpointing.
Concrete & Epoxy Finishes – Durable coatings for garages, basements, and commercial spaces, including polishing, staining, and crack repair.
Their experienced teams ensure workmanship that stands the test of time and looks exceptional too.
Trusted Experience and Community Recognition Mitchell learned the trade from his father and, since 2014, has applied that family craftsmanship across hundreds of projects in Waterloo, Cambridge, Kitchener, and beyond. The company consistently delivers projects on time and within budget, earning praise for both skill and client service.
Customer testimonials reflect satisfaction in quality, punctuality, cleanliness, and professionalism-particularly on tight schedules and complex work.
Reliable Results with a Personal Touch Mitchell Blackwell Parging & Masonry balances industrial-grade results with a personal, family-driven touch. Regardless of project size, their goal remains the same: to execute with care, communicate clearly, and make each customer feel respected.
They serve both residential and commercial clients, ensuring that materials, ornamental details, and structural improvements align with the client’s vision and the property’s needs.
Commitment That Builds Trust Winning the Consumer Choice Award reflects the trust that homeowners and businesses across Waterloo Region have placed in Mitchell Blackwell Parging & Masonry Inc. This recognition reinforces the company’s dedication to quality, reliability, and craftsmanship in every project they undertake.
“This award validates our dedication to quality and community,” says Mitchell. “We’re grateful for the trust our clients show us-and we’re committed to building stronger foundations for the region.”
About Mitchell Blackwell Parging & Masonry Inc. Coming from a bricklaying family, Mitchell is hands-on in every project, and his crew of skilled tradespeople reflects that same passion and expertise. Their gallery of past work includes foundations, chimneys, patios, and epoxy floors that showcase both functionality and aesthetic appeal.
About Consumer Choice Award: Consumer Choice Award has been recognizing and promoting business excellence in North America since 1987. Its rigorous selection process ensures that only the most outstanding service providers in each category earn this prestigious recognition. Visit www.ccaward.com to learn more.
Total net assets of $23.2 million and working capital of $22.8 million as at Q2 2025, including an additional $3.6 million in non-dilutive government funding received in Q2 2025 from existing programs.
Company sets stage for potential U.S. growth with ALTA and being most OBBB ready solution
IEA names Nano One a top LFP innovator, meeting demand of global push to localize
Nano One begins trading on the U.S. OTCQB under the ticker “NNOMF”
Results from the AGM held on May 23, 2025 were announced with all matters presented for shareholder approval being approved.
VANCOUVER, BC / ACCESS Newswire / August 13, 2025 / Nano One® Materials Corp. (“Nano One” or the “Company”), a technology company changing how the world makes cathode active materials for lithium-ion batteries, has filed its condensed interim consolidated financial statements (the “financial statements”), and management’s discussion & analysis (“MD&A”) as at and for the six months ended June 30, 2025 (“Q2 2025”) and is pleased to provide a summary and an update on subsequent events.
Q2 2025 – Financial Position and Subsequent Funding
As at June 30, 2025, the Company’s total net assets and working capital were $23.2 million and $22.8 million, respectively. Cash and cash equivalents were $23.0 million.
In Q2 2025, total proceeds of $3.6 million were received from drawdowns on government programs (further to $26.5 million in proceeds received in Q1 2025 inclusive of the sale and leaseback transaction). Approximately $25.0 million remains in reimbursements to claim over the next two years from contracted government programs.
The Company reported a net loss of $2.8 million for Q2 2025 with proceeds from government grants and other items included within other income partially offsetting operating expenses for the quarter.
The use of cash in operating activities, capital expenditures, and facility lease and other payments for the quarter contributed to the $2.6 million decrease in total assets in Q2 2025 from Q1 2025.
Selection for launch of ALTA (Arkansas Lithium Technology Accelerator) and IEA naming Nano One a top LFP innovator
On July 15, 2025, the Company announced it had been selected to join ALTA, America’s first lithium and battery supply chain accelerator. Participating in ALTA positions Nano One as a strategic contributor to lithium-ion battery supply chain independence and reinforces Nano One’s position as a national strategic asset in lithium-ion battery production – fortifying a secure, localized supply chain for defense and commercial markets. It also highlights Nano One’s continued relevance to energy growth and national security. Nano One is the only One Big Beautiful Bill (OBBB)-ready solution for LFP-linking upstream mineral extraction to downstream cell manufacturing.
Arkansas’ goals align with Nano One’s multi-jurisdictional strategy, leveraging the Candiac Facility as a hub, accelerator and launchpad for validation, commercialization, and large-scale growth in the U.S., Canada and beyond.
Nano One is one of only three companies selected for ALTA’s inaugural cohort, alongside innovators in lithium processing and geothermal deployment. The accelerator is backed by Standard Lithium, the Walton Family Foundation, and a network of Arkansas-based producers, academic institutions, and government partners. Participation in ALTA creates opportunities for partnerships and strategic visibility in the U.S.
Additionally, at the 2025 Canada-EU Summit, joint commitments were signed to co-invest in critical mineral infrastructure, with an emphasis on defence and AI infrastructure localization to enhance resilience and reduce strategic dependencies. Canada also reaffirmed its pledge to meet NATO’s new 5% of GDP defence spending target by 2035.
These coordinated efforts reflect a growing consensus: building a competitive and resilient battery supply chain will require process innovation, coordinated investment, and speed of execution to reduce dependencies that make the world vulnerable to market volatility and global disruption. The International Energy Agency’s (IEA) Global Critical Minerals Outlook 2025 echoed this, naming Nano One among a select group of companies developing “alternative methods of producing LFP” to “reduce dependency on Chinese supply chains.”
Trading on the U.S. OTCQB
Nano One began trading on the U.S. OTCQB under the ticker NNOMF on July 14, 2025, enhancing visibility and accessibility to U.S. investors as it expands commercial efforts and builds partnerships across North America.
AGM
The Annual General Meeting (AGM) of the shareholders of Nano One Materials Corp. was held on May 23, 2025. On May 26, 2025, Nano One announced that all matters presented for shareholder approval at the meeting were approved including the election of Directors of the Company for the ensuing year, and the appointment of Auditors.
For a more detailed discussion of Nano One’s Q2 2025 interim results, please refer to the Company’s financial statements, and MD&A, which are available at www.sedarplus.ca.
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About Nano One®
Nano One® Materials Corp. (Nano One) is a technology company changing how the world makes cathode active materials for lithium-ion batteries. Applications include stationary energy storage systems (ESS), portable electronics, and electric vehicles (EVs). The Company’s patented One-Pot process reduces costs, is easier-to permit, lowers energy intensity, environmental footprint, and reliance on problematic supply chains. The Company is helping to drive energy security, supply chain resilience, industrial competitiveness and increased performance through process innovation. Scalability is proven and being demonstrated at Nano One’s LFP (lithium-iron-phosphate) pilot production plant in Québec-leveraging the only facility and expertise of its kind outside of Asia. Strategic collaborations and partnerships with international companies like Sumitomo Metal Mining, Rio Tinto, and Worley are supporting a design-one-build-many licensing growth strategy-delivering cost-competitive, easier-to-permit and faster-to-market battery materials production solutions world-wide. Nano One has received funding from the Government of Canada, the Government of the United States, the Government of Québec, and the Government of British Columbia. For more information, please visit www.nanoone.ca
Certain information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking information in this news release includes but is not limited to: LFP production, joint ventures, contracted projects, revenue generation, operational growth, licensing, government funding, the development of technology, supply chains, and plans for construction and operation of cathode production facilities and Development Project; the Company’s current and future business and strategies; estimated future working capital, funds available, and uses of funds, future capital expenditures and other expenses for commercial operations; industry demand; incurrence of costs; competitive conditions; general economic conditions; the intention to grow the business, operations and potential activities of the Company; the functions and intended benefits of Nano One’s technology and products; the development and optimization of the Company’s technology and products; prospective partnerships and the anticipated benefits of the Company’s partnerships; the Company’s licensing and, the scalability of developed technology to meet expanded capacity; and the execution of the Company’s stated plans – which are contingent on access to capital and grants. Generally, forward-looking information can be identified by the use of terminology such as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, ‘target’, ‘goal’, ‘potential’ or variations of such words and phrases or statements that certain actions, events or results “will” occur.
Forward-looking statements are based on the current opinions and estimates of management as of the date such statements are made are not, and cannot be, a guarantee of future results or events. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including but not limited to: general and global economic and regulatory changes; next steps and timely execution of the Company’s business plans; the development of technology, supply chains, and plans for construction and operation of cathode production facilities; successful current or future collaborations that may happen with OEM’s, miners or others; the execution of the Company’s plans which are contingent on capital sources; the Company’s ability to achieve its stated goals; the commercialization of the Company’s technology and patents via license, joint venture and independent production; anticipated global demand and projected growth for LFP batteries; and other risk factors as identified in Nano One’s MD&A and its Annual Information Form dated March 25, 2025, both for the year ended December 31, 2024, and in recent securities filings for the Company which are available at www.sedarplus.ca. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake any obligation to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
Search Influence, a New Orleans-based digital marketing agency, has been named to the 2025 Inc. 5000 list of America’s fastest-growing private companies, ranking 2,211. This marks the ninth time the company has appeared on the list since first being recognized, placing it among a select group of independent businesses achieving repeated national recognition for sustained growth.
The Inc. 5000 list, compiled annually by Inc. magazine, ranks companies based on percentage revenue growth over a three-year period. To qualify, businesses must be privately held, for-profit, and based in the United States, with minimum revenue requirements met in the base and most recent years. This year’s honorees represent a broad range of industries and reflect the resilience of independent businesses navigating shifting market conditions.
Founded in 2006, Search Influence has grown steadily by adapting to significant changes in search technology and consumer behavior. In recent years, the company has integrated artificial intelligence into its search optimization practices, a discipline widely referred to as AI SEO. These strategies are designed to help clients appear in both traditional search rankings and in emerging AI-generated overviews that are becoming increasingly common in search results.
“This is our ninth time on the Inc. 5000, and it’s a testament to the adaptability and commitment of our team,” said Will Scott, CEO of Search Influence and recognized in the industry as an AI SEO expert. “While the search landscape has changed dramatically, leaning into AI SEO has helped our clients maintain visibility and growth, even as many marketing agencies have faced challenges. In areas like higher education marketing, where competition for attention is intense, these approaches have made a meaningful difference.”
AI SEO requires optimizing content so it is understood and surfaced not only by traditional search algorithms but also by artificial intelligence systems that deliver synthesized answers. This involves an emphasis on semantic relevance, entity recognition, and content structures that align with how AI models interpret and present information. Search Influence applies these principles alongside its work in paid advertising, analytics, and content strategy.
The agency’s sustained growth over nine Inc. 5000 appearances reflects its ability to respond to industry changes. In higher education, for example, Search Influence has developed targeted Higher Ed SEO strategies that incorporate AI SEO principles to help institutions connect with prospective students in the ways they now search for academic programs and campus experiences.
Industry analysts note that the marketing sector has undergone significant change in recent years. Agencies have had to contend with evolving technology, tighter budgets, and a greater demand for measurable performance. By adopting new search optimization methods early and refining them over time, Search Influence has positioned itself to navigate these challenges.
The Inc. 5000 list offers a data-driven look at the most successful companies within the U.S. economy’s most dynamic segment — independent small and mid-sized businesses. Past honorees include companies that have become widely recognized brands, and repeat appearances on the list are considered an indicator of sustained operational and strategic success.
Search Influence
1423 Pine Street
New Orleans, LA 70118
About Search Influence:
Search Influence is a digital marketing agency headquartered in New Orleans, Louisiana. Since 2006, the company has worked with businesses and institutions across the United States to improve their online visibility through search engine optimization, online advertising, and analytics. With a growing emphasis on AI SEO and higher ed SEO, Search Influence develops strategies to help clients adapt to changes in search technology and consumer behavior. More information is available at https://www.searchinfluence.com.
DELRAY BEACH, FL / ACCESS Newswire / August 12, 2025 / Adolore BioTherapeutics, Inc., (“Company” or “Adolore”) announced that Roy Clifford Levitt, MD, Clinical Professor at the University of Miami, Principal Investigator and Program Director of the NIH, NINDS, HEAL UH3 Award supporting ADB-102 development for the treatment of chronic knee pain due to osteoarthritis, (“OA”), and founder and Executive Chairman of Adolore presented the Company’s breakthrough non-opioid gene therapy programs for chronic pain at the Next Generation Gene Therapy Vectors Summit on July 31, 2025 in Boston.
Dr. Levitt presented the latest safety and efficacy data on Adolore’s replication defective, disease-free, HSV viral vectors during his talk entitled: “Rethinking Vector Choice: Utilizing Optimized HSV to Enhance Safety & Efficacy”. He presented evidence of long-lasting (>7 months), profound analgesia (equivalent to high doses of opioids) for their HSV gene therapy with regional administration (single intra-articular knee joint injection) in model systems. Additional data demonstrated excellent cellular tropism (neuronal specificity), biodistribution, and shedding characteristics. Dr. Levitt also highlighted how regional administration minimizes off-target effects, improving safety, efficacy, and minimizes immunogenicity.
Adolore is advancing two preclinical development programs: a lead program for knee pain due to OA and a program for erythromelalgia, (“EM”), an orphan neuropathic pain indication for which there are no FDA-approved treatments. EM is a rare, heritable, chronic and debilitating pain disease.
In model systems, replication-defective, disease-free, herpes simplex virus (rdHSV) gene therapy expressing an analgesic carbonic anhydrase-8 (CA8*) peptide variant corrects somatosensory hyperexcitability by activating Kv7 voltage-gated potassium channels, thereby producing profound, long-lasting analgesia. Adolore has achieved proof-of-concept in animal models, validating the mechanism of action in knee pain from OA and EM.
About Adolore BioTherapeutics, Inc.
Adolore BioTherapeutics, Inc., is a biotechnology company focused on developing novel therapies for treating chronic pain using a revolutionary intra-cellular replication-defective HSV (rdHSV) drug delivery platform that is disease-free, non-toxic, and permits localized peripheral nervous system delivery of proprietary biotherapeutics. This rdHSV gene therapy technology incorporates an established re-dosing strategy and an excellent safety profile. HSV vectors are known for their stability and prolonged gene expression, providing an excellent basis for the long-term treatment of chronic pain conditions and neurological disorders. Our best-in-class CA8* programs are long-acting, locally acting gene therapies that are opioid-free Disease-Modifying Anti-Pain therapies (DMAPs) designed to treat many forms of chronic pain as well as therapies for epilepsy and hearing loss.
Leveraging its innovative gene therapy vectors expressing CA8* analgesic peptides (ADLR-1001), Adolore is currently advancing two preclinical development programs: ADB-101 for the treatment of patients’ chronic pain caused by erythromelalgia, an orphan disease, and ADB-102, their lead program for the treatment of patients with chronic pain caused by knee OA. Based on substantial compelling preclinical data generated to date, the Company is progressing these programs toward IND filings and first-in-human clinical studies. Adolore has two additional programs available for partnering: ADB-104 for Drug-Resistant Refractory Focal Epilepsy, ADB-105 for Acute Severe Hearing Loss and ADB-106 for Chronic Eye Pain.
For more information, visit adolore.com.
Forward-Looking Statements
To the extent this announcement contains information and statements that are not historical, they are forward-looking statements within the meaning of the federal securities laws. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “will,” “should,” “may,” “plan,” “intend,” “assume” and other expressions which predict or indicate future events and trends and which do not relate to historical matters. You should not rely on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the Company. These risks and uncertainties include, but are not limited to, those associated with drug development. These risks, uncertainties, and other factors may cause the actual results, performance, or achievements of the Company to be materially different from the anticipated future results, performance, or achievements expressed or implied by the forward-looking statements.
InfraWeeder, created by Brühwiler Maschinen AG, is making waves with its innovative approach to weed control. They focus on the environmental and practical benefits of using infrared technology for this purpose. As a Swiss company deeply committed to sustainability and new ideas, they stand out with their chemical-free method for getting rid of weeds effectively and quietly.
The InfraWeeder operates with a thermal system that produces radiant heat above 1000°C. This extreme heat directly targets weed and seed structures, disrupting their protein cells and causing them to wilt quickly. Since this method doesn’t rely on chemicals, it meets the growing demand for eco-friendly solutions in both landscaping and agriculture. It’s a great fit for anyone taking care of public spaces, gardens, or areas where the environmental impact needs to be minimal.
Because this technology doesn’t use chemicals, it doesn’t release pollutants, making it perfect for maintaining ecological health. Places like public gardens and parks can benefit greatly from it. Plus, since it’s quiet, it operates without disturbing nearby communities, which is a notable difference from the loud, traditional methods often used to control weeds.
Swiss engineering ensures that InfraWeeder is both reliable and durable, important traits for professional landscapers and municipal users. The products are built to handle continuous use while still performing at a high level. The Swiss manufacturing standards are a mark of quality, making InfraWeeder a trustworthy choice for long-lasting weed control.
InfraWeeder also provides a robust support system, including a dedicated service team for maintenance and repairs, so users can get the most out of their equipment. With more than 20 years of industry experience, the company has been a leader in creating sustainable weed management solutions and is a pioneer in chemical-free weed control. For detailed information about the products and inquiries, visit InfraWeeder’s website at https://infraweeder-thermische-unkrautvernichtung.localo.site. More resources, including customer service contacts and FAQs, are available to help customers make wise decisions.
The environmental benefits of InfraWeeder’s products highlight their suitability for use in stadiums, public gardens, and any place where it’s crucial to preserve the environment. Because there are no open flames, InfraWeeder reduces the risks often linked to traditional thermal weed control methods.
InfraWeeder continues to lead in offering effective, environmentally conscious weed control solutions with their infrared technology, all backed by the trusted quality of Swiss engineering.
For more product details and customer support services, potential clients and users can view the company’s location and contact options through their Google Maps profile at https://maps.app.goo.gl/tVrXotVgtZ9QsQyu7. There, one can connect directly with the company to get information tailored to both professional and personal landscaping needs.
Fito Plumbers, Inc., a trusted plumbing contractor based in Livermore and Hayward, California, is extending its services to include sewer lateral replacement san leandro. With rising demand from homeowners and business owners, the company is rolling out advanced services to efficiently handle sewer lateral challenges.
The focus on sewer lateral replacement san leandro highlights Fito Plumbers’ dedication to solving plumbing issues that property owners often encounter. San Leandro residents and local businesses can rely on the company’s expertise in managing the infrastructure that connects their properties to the main sewer line. The team is experienced in dealing with projects of varying difficulty levels, guaranteeing that property owners’ needs are met with skillful and current practices.
For those facing issues with their sewer laterals, Fito Plumbers offers trenchless sewer lateral repairs. This method requires less digging, which helps preserve landscapes and reduces disruptions. The use of state-of-the-art technology in trenchless repairs shows Fito Plumbers’ dedication to both innovation and customer satisfaction. Learn more about their comprehensive offerings, including water heater services and professional leak detection, by visiting their website.
Rosy Lopez, the spokesperson for Fito Plumbers, shared her positive outlook on the expanded services. “Our aim is to provide solutions that are effective and cause as little disruption as possible. We’re thrilled to offer sewer lateral replacement san leandro and are confident that homeowners and businesses will greatly benefit from advanced methods like trenchless repairs. Each project is handled with careful attention, ensuring reliable and durable results.”
Fito Plumbers is known for its wide range of services, including industrial and commercial plumbing, leak detection, and water heater maintenance. These services enhance the company’s approach to plumbing, ensuring clients receive complete and dependable support. Detailed information about these services, from private sewer lateral systems to horizontal directional drilling, underscores the company’s capability to manage diverse plumbing needs.
The company is not only growing its service area but is reinforcing its role as a reliable partner in plumbing. By offering solutions that prevent potential issues, Fito Plumbers builds on a history of satisfied customers. The team is available for emergencies 24/7, demonstrating a strong commitment to dealing with urgent needs swiftly and effectively.
Beyond technical expertise, Fito Plumbers shows its dedication to customers through flexible financing options. This makes it easier for property owners to afford necessary repairs and installations, allowing for stress-free transactions. Their high customer satisfaction is mirrored in the positive reviews and ratings on platforms like Google, Yelp, Facebook, and Home Advisor.
Lopez added, “We want to make sure our services are within reach for everyone. Our flexible payment options and round-the-clock emergency responses ensure we’re always there for our customers. Our services aim to improve the quality of life without sacrificing workmanship.”
With locations in Livermore and Hayward, Fito Plumbers is well-positioned to serve the entire San Francisco Bay Area. By extending its focus to sewer lateral replacement san leandro, it strengthens its standing as a leader in the plumbing field.
Customer reviews and high ratings on platforms like Google, Yelp, Facebook, and Home Advisor reflect the company’s commitment to quality work and customer happiness. These positive endorsements highlight Fito Plumbers’ emphasis on excellent service.
With vast experience and a focus on innovation, Fito Plumbers is ready to meet the community’s diverse plumbing needs. As they expand their services and coverage, they continue to be a reliable choice for plumbing solutions in California. From replacing sewer laterals to urgent repairs, Fito Plumbers provides trusted and comprehensive services to the community. For more details on their services, or to schedule an appointment, visit Fito Plumbers’ website.
Cambridge, ON – For many homeowners, carpet odours are a frustrating challenge that can affect the entire atmosphere of a living space. Whether it’s pet-related, food-based, or the slow build-up of moisture and dust, lingering smells are hard to ignore. That’s why KCS Kitchener Cleaning Services, a leading residential cleaning company serving the Kitchener-Waterloo and Guelph area, has published an informative guide that tackles the commonly searched question: “What is the best thing to deodorize carpets with?”
The article, titled “What is the Best Thing to Deodorize Carpets With?” dives deep into practical and affordable options homeowners can use to freshen up their carpets using common household items, with insights rooted in years of professional cleaning experience.
Expert Solutions from a Trusted Local Brand: The KCS team begins the article with one of the most time-tested and reliable methods: baking soda. Known for its ability to neutralise both acidic and basic odours, baking soda is a natural and pet-safe option that homeowners can use as often as needed. The guide outlines the simple process: sprinkle, wait overnight, and vacuum thoroughly.
Also featured is a vinegar and water solution, praised for its ability to neutralise odour-causing bacteria without adding artificial scents or residue. The article encourages the use of natural, non-toxic solutions wherever possible, an approach that aligns with KCS’s environmentally conscious values.
For readers seeking a fragrant boost, KCS recommends pairing baking soda with essential oils such as lavender, lemon, and eucalyptus. These oils not only deodorise but create an uplifting ambience in the home. Lavender promotes calm, lemon brightens the room, and eucalyptus adds both freshness and antimicrobial benefits.
Quick fixes, such as carpet deodorising powders, are covered for convenience, while steam cleaning with a deodoriser and professional carpet cleaning services are recommended for deep or persistent odours.
Founded and located in Cambridge, Ontario, KCS Kitchener Cleaning Services is more than just a cleaning company; it’s a local, family-run business built on trust, consistency, and exceptional care. With a name inspired by the rich heritage of Kitchener, the company is represented by the historic clock tower in Victoria Park, a symbol of reliability and community roots.
The team at KCS is passionate about helping homeowners enjoy healthier, happier spaces. “While we don’t offer carpet shampooing or steam cleaning, we believe a fresh-smelling home begins with cleanliness at every level,” says the founder, who built KCS with a focus on eco-friendly solutions and client satisfaction. “That’s why our detailed services are designed to elevate the overall freshness and comfort of your home.”
KCS specialises in General Cleaning, Deep Cleaning, Pet-Friendly Cleaning, Move-In/Move-Out Cleaning, and Post-Construction Cleaning. The company exclusively uses hypoallergenic microfiber cloths and eco-conscious cleaning products that are safe for kids and pets.
With a 5-star average rating from local clients and a 100% satisfaction guarantee, KCS has established itself as a trusted name among residents across Kitchener, Waterloo, Cambridge, and Guelph.
Established in 2022, KCS Kitchener Cleaning Services is a locally owned and family-operated business located in Cambridge, Ontario. The company serves the communities of Kitchener, Waterloo, Cambridge, and Guelph, offering eco-friendly, high-detail cleaning services for homes, condos, apartments, and commercial spaces. Their team of trained professionals is known for showing up on time, using hypoallergenic and pet-safe products, and delivering a 100% satisfaction guarantee.
While carpet shampooing and steam cleaning are not part of their service menu, KCS specialises in general, deep, move-in/move-out, post-construction, and pet-friendly cleaning solutions. With easy online booking, mobile app scheduling, and free estimates, KCS makes maintaining a clean home simpler than ever.
NORTH BILLERICA, MA / ACCESS Newswire / August 12, 2025 / Tecogen Inc. (NYSE American:TGEN), a leading manufacturer of clean energy products, reported revenues of $7.29 million and net loss of $1.47 million for the quarter ended June 30, 2025 compared to revenues of $4.73 million, and a net loss of $1.54 million in 2024. Our cash and cash equivalents balance was $1.64 million at June 30, 2025.
Abinand Rangesh, CEO of Tecogen, commented that “since our last earnings call we have made tremendous progress with our data center strategy and achieved several key milestones. We received our first LOI for a great pilot project. This is for a 100+MW data center with the potential to be a 500+MW site. The customer expects to evaluate 6 STx chillers during the first phase of the project. If successful, more chillers will be used in subsequent phases. We expect the LOI to convert to a PO later this year and we hope to grow with this customer.
In the last three months, our marketing has generated great leads. We have now quoted two projects for 60 to 100 chillers each. We have multiple other projects that are earlier stage but have similar potential. We’ve also received feedback on how customers are making purchasing decisions. During the call, I will address what these are and the steps we are taking so we can convert these leads into orders.
The only setback this quarter was the reduction in the gross profit margin which drove the net loss. Product margin was lower because we started shipping the hybrid air-cooled chiller. As expected, the first few units had higher costs due to low volume material purchasing and as our team gained experience building the product. We expect the hybrid chiller margin to increase with volume production. The other products shipped this quarter had similar margins as previous quarters.
Overall service margin declined because of one region – Manhattan and NJ. This was in part due to bulk oil system upgrades for our InVerde fleet. This has a short term impact on profitability but increases service intervals by 150% to 200%. We also experienced increased overtime hours. During the call, we will discuss the new protocols we have implemented to restore this territory to profitability.
Given the size of potential projects, the ability to manufacture and ship significant volumes of chillers is critical. We have hired talent in manufacturing and engineering. The additional staffing was a significant factor in our increased operating expenses, which increased by 9% in Q2 2025 compared to last year. To provide the necessary capital to scale our business, we also raised $18.2 million in July. The capital raised will be used to increase factory output and for marketing. I will share more details on the data center projects, Vertiv and scale up plan tomorrow.”
Key Takeaways
Net Loss and Earnings Per Share
Net loss for the quarter ended June 30, 2025 was $1.46 million compared to a net loss of $1.54 million for the same period of 2024, a decrease of $0.07 million, due to increased gross profit from our Products and Services segments. EPS for the quarter ended June 30, 2025 and 2024 was a loss of $(0.06)/share, respectively.
Net loss for the six months ended June 30, 2025 was $2.12 million compared to a net loss of $2.64 million for the same period of 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments. EPS for the six months ended June 30, 2025 and 2024 was a loss of $(0.08)/share and $(0.11)/share, respectively.
Loss from Operations
Loss from operations for the quarter ended June 30, 2025 was $1.41 million compared to a loss from operations of $1.47 million for the same period in 2024, a decrease of $0.06 million, due to increased gross profit from our Products and Services segments.
Loss from operations for the six ended June 30, 2025 was $2.01 million compared to a loss from operations of $2.52 million for the same period in 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments.
Revenues
Revenues for the quarter ended June 30, 2025 were $7.29 million compared to $4.73 million for the same period in 2024, a 54.3% increase.
Products revenues in the quarter ended June 30, 2025 were $3.16 million compared to $0.12 million for the same period in 2024, an increase of 2,536.6%. The increase in revenue during the quarter ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller.
Services revenues in the quarter ended June 30, 2025 were $3.97 million, compared to $4.13 million for the same period in 2024, a decrease of 3.9% due to decreased revenues from the acquired Aegis maintenance contracts.
Energy Production revenues in the quarter ended June 30, 2025 were $0.17 million compared to $0.48 million for the same period in 2024, a decrease of 63.8%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs.
Revenues for the six months ended June 30, 2025 were $14.57 million compared to $10.91 million for the same period in 2024, a 33.5% increase.
Products revenues in the six months ended June 30, 2025 were $5.69 million compared to $1.61 million for the same period in 2024, an increase of 253.1%. The increase in revenue during the six months ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller.
Services revenues in the six months ended June 30, 2025 were $8.21 million, compared to $8.14 million for the same period in 2024, an increase of 0.9% due to increased revenues from existing contracts, offset by decreased revenues from the acquired Aegis maintenance contacts.
Energy Production revenues in the six months ended June 30, 2025 were $0.67 million compared to $1.16 million for the same period in 2024, a decrease of 42.1%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs.
Gross Profit
Gross profit for the quarter ended June 30, 2025 was $2.46 million compared to $2.08 million in the same period in 2024. Gross margin decreased to 33.8% in the quarter ended June 30, 2025 compared to 44.0% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the quarter ended June 30, 2025.
Gross profit for the six months ended June 30, 2025 was $5.68 million compared to $4.65 million in the same period in 2024. Gross margin decreased to 39.0% in the six months ended June 30, 2025 compared to 42.7% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the the six months ended June 30, 2025.
Operating Expenses
Operating expenses increased $0.32 million, or 9.0%, to $3.87 million in the quarter ended June 30, 2025 compared to $3.55 million in the same period in 2024, due to increased payroll, benefits, recruitment costs, and sales commissions.
Operating expenses increased $0.51 million, or 7.1%, to $7.69 million in six months ended June 30, 2025 compared to $7.18 million in the same period in 2024, due to increased payroll, benefits, recruitment costs and sales commissions.
Adjusted EBITDA
Adjusted EBITDA was negative $1.16 million for the quarter ended June 30, 2025 compared to negative $1.30 million for the quarter ended June 30, 2024. For the six months ended June 30, 2025, adjusted EBITDA was a negative $1.54 million compared to a negative $2.19 million for the six months ended June 30, 2024. (Adjusted EBITDA is defined as net income or loss attributable to Tecogen, adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges or gains including abandonment of intangible assets and asset impairment. See the table following the Condensed Consolidated Statements of Operations for a reconciliation from net income (loss) to Adjusted EBITDA, as well as important disclosures about the Company’s use of Adjusted EBITDA).
Conference Call Scheduled for August 13, 2025, at 9:30 am ET
Tecogen will host a conference call on August 13, 2025 to discuss the second quarter results beginning at 9:30 am eastern time. To listen to the call please dial (877) 407-7186 within the U.S. and Canada, or +1 (201) 689-8052 from other international locations. Participants should ask to be joined to the Tecogen Second Quarter conference call. Please begin dialing 10 minutes before the scheduled starting time. The earnings press release will be available on the Company website at www.Tecogen.com in the “News and Events” section under “About Us.” The earnings conference call will be webcast live. To view the associated slides, register for and listen to the webcast, go to https://ir.tecogen.com/ir-calendar. Following the call, the recording will be archived for 14 days.
The earnings conference call will be recorded and available for playback one hour after the end of the call. To listen to the playback, dial (877) 660-6853 within the U.S. and Canada, or (201) 612-7415 from other international locations and use Conference Call ID#: 13752231.
About Tecogen
Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost effective, environmentally friendly and reliable products for energy production that nearly eliminate criteria pollutants and significantly reduce a customer’s carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Forward Looking Statements
This press release contains “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely,” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements except as required under the securities laws.
In addition to those factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in our Current reports on Form 8-K, under “Risk Factors,” and elsewhere therein, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, the impact of tariffs, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
In addition to GAAP financial measures, this press release includes certain non-GAAP financial measures, including adjusted EBITDA which excludes certain expenses as described in the presentation. We use Adjusted EBITDA as an internal measure of business operating performance and believe that the presentation of non-GAAP financial measures provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance by eliminating items that vary from period to period without correlation to our core operating performance and highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures.
TECOGEN INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
June 30, 2025
December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents
$
1,640,864
$
5,405,233
Accounts receivable, net
6,640,483
6,026,545
Inventories, net
9,679,229
9,634,005
Unbilled revenue
126,738
398,898
Prepaid and other current assets
949,256
680,565
Total current assets
19,036,570
22,145,246
Long-term assets:
Property, plant and equipment, net
1,820,059
1,738,036
Right-of-use assets – operating leases
1,728,780
1,730,358
Right-of-use assets – finance leases
933,671
452,390
Intangible assets, net
2,330,959
2,513,189
Goodwill
2,346,566
2,346,566
Other assets
155,232
166,474
TOTAL ASSETS
$
28,351,837
$
31,092,259
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Related party notes, current portion
$
–
$
1,548,872
Accounts payable
4,946,218
4,142,678
Accrued expenses
2,976,211
2,890,886
Deferred revenue, current portion
4,420,644
6,701,131
Operating lease obligations, current portion
481,891
430,382
Finance lease obligations, current portion
173,362
85,646
Acquisition liabilities, current portion
883,541
902,552
Unfavorable contract liability, current portion
83,962
113,449
Total current liabilities
13,965,829
16,815,596
Long-term liabilities:
Related party notes, net of current portion
1,067,848
–
Deferred revenue, net of current portion
1,252,831
1,165,951
Operating lease obligations, net of current portion
1,295,450
1,341,789
Finance lease obligations, net of current portion
675,198
325,235
Acquisition liabilities, net of current portion
878,151
1,008,760
Unfavorable contract liability, net of current portion
275,079
309,390
Total liabilities
19,410,386
20,966,721
Commitments and contingencies
Stockholders’ equity:
Tecogen Inc. stockholders’ equity:
Common stock, $0.001 par value; 100,000,000 shares authorized; 25,571,490 issued and outstanding at June 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024
25,571
24,950
Additional paid-in capital
58,837,181
57,845,289
Accumulated deficit
(49,763,921
)
(47,639,894
)
Total Tecogen Inc. stockholders’ equity
9,098,831
10,230,345
Non-controlling interest
(157,380
)
(104,807
)
Total stockholders’ equity
8,941,451
10,125,538
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
28,351,837
$
31,092,259
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Three Months Ended
June 30, 2025
June 30, 2024
Revenues
Products
$
3,155,323
$
119,673
Services
3,965,168
4,126,517
Energy production
174,329
481,597
Total revenues
7,294,820
4,727,787
Cost of sales
Products
2,232,155
171,982
Services
2,469,737
2,191,815
Energy production
130,436
284,835
Total cost of sales
4,832,328
2,648,632
Gross profit
2,462,492
2,079,155
Operating expenses:
General and administrative
3,091,175
2,897,993
Selling
514,735
405,277
Research and development
268,724
246,489
(Gain) loss on disposition of assets
(280
)
3,363
Total operating expenses
3,874,354
3,553,122
Loss from operations
(1,411,862
)
(1,473,967
)
Other income (expense)
Other income (expense), net
(6,378
)
18,894
Interest expense
(38,153
)
(17,869
)
Unrealized loss on investment securities
–
(37,497
)
Total other income (expense), net
(44,531
)
(36,472
)
Loss before provision for state income taxes
(1,456,393
)
(1,510,439
)
Provision for state income taxes
16,762
37
Consolidated net loss
(1,473,155
)
(1,510,476
)
(Income) loss attributable to the non-controlling interest
9,050
(28,320
)
Loss attributable to Tecogen Inc.
$
(1,464,105
)
$
(1,538,796
)
Net loss per share – basic
$
(0.06
)
$
(0.06
)
Weighted average shares outstanding – basic
25,250,217
24,850,261
Net loss per share – diluted
$
(0.06
)
$
(0.06
)
Weighted average shares outstanding – diluted
25,250,127
24,850,261
Three Months Ended
June 30, 2025
June 30, 2024
Non-GAAP financial disclosure (1)
Net loss attributable to Tecogen Inc.
$
(1,464,105
)
$
(1,538,796
)
Interest expense, net
38,153
17,869
Income taxes
16,762
37
Depreciation & amortization, net
205,686
141,361
EBITDA
(1,203,504
)
(1,379,529
)
Stock based compensation
42,606
45,463
Unrealized loss on investment securities
–
37,497
Adjusted EBITDA
$
(1,160,898
)
$
(1,296,569
)
(1) Non-GAAP Financial Measures
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
Six Months Ended
June 30, 2025
June 30, 2024
Revenues
Products
$
5,689,132
$
1,611,071
Services
8,210,190
8,140,827
Energy production
673,268
1,161,985
Total revenues
14,572,590
10,913,883
Cost of sales
Products
3,719,905
1,221,525
Services
4,728,635
4,284,072
Energy production
440,518
753,475
Total cost of sales
8,889,058
6,259,072
Gross profit
5,683,532
4,654,811
Operating expenses:
General and administrative
6,019,310
5,746,559
Selling
1,109,216
934,946
Research and development
561,392
501,185
Gain on sale of assets
(280
)
(4,028
)
Total operating expenses
7,689,638
7,178,662
Loss from operations
(2,006,106
)
(2,523,851
)
Other income (expense)
Other income (expense), net
(20,623
)
3,147
Interest expense
(70,479
)
(36,539
)
Unrealized loss on investment securities
(18,749
)
(18,749
)
Total other income (expense), net
(109,851
)
(52,141
)
Loss before provision for state income taxes
(2,115,957
)
(2,575,992
)
Provision for state income taxes
17,687
22,100
Consolidated net loss
(2,133,644
)
(2,598,092
)
(Income) loss attributable to non-controlling interest
9,617
(45,671
)
Net loss attributable to Tecogen Inc.
$
(2,124,027
)
$
(2,643,763
)
Net loss per share – basic
$
(0.08
)
$
(0.11
)
Weighted average shares outstanding – basic
25,103,388
24,850,261
Net loss per share – diluted
$
(0.08
)
$
(0.11
)
Weighted average shares outstanding – diluted
25,103,388
24,850,261
Six Months Ended
June 30, 2025
June 30, 2024
Non-GAAP financial disclosure (1)
Net loss attributable to Tecogen Inc.
$
(2,124,027
)
$
(2,643,763
)
Interest expense, net
70,479
36,539
Income taxes
17,687
22,100
Depreciation & amortization, net
391,381
281,498
EBITDA
(1,644,480
)
(2,303,626
)
Stock based compensation
83,439
89,998
Unrealized loss on marketable securities
18,749
18,749
Adjusted EBITDA
$
(1,542,292
)
$
(2,194,879
)
(1) Non-GAAP Financial Measures
In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.
TECOGEN INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
Six Months Ended
June 30, 2025
June 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss
$
(2,133,644
)
$
(2,598,092
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
391,381
281,498
Provision for (recovery of) credit losses
(75,000
)
19,063
Stock-based compensation
83,439
89,998
Unrealized loss on investment securities
18,749
18,749
Gain on disposition of assets
(280
)
(4,028
)
Non-cash interest expense
33,538
12,800
Changes in operating assets and liabilities
(Increase) decrease in:
Accounts receivable
(538,938
)
1,398,193
Inventory
(45,224
)
439,926
Unbilled revenue
272,160
–
Prepaid assets and other current assets
(268,691
)
(125,784
)
Other assets
186,766
576,926
Increase (decrease) in:
Accounts payable
803,540
(108,646
)
Accrued expenses and other current liabilities
85,325
39,838
Deferred revenue
(2,193,607
)
806,266
Other liabilities
(395,134
)
(756,410
)
Net cash provided by (used in) operating activities
(3,775,620
)
90,297
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment
(277,989
)
(556,636
)
Proceeds from disposition of assets
280
36,213
Distributions to non-controlling interest
(42,956
)
(48,654
)
Net cash used in investing activities
(320,665
)
(569,077
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Finance lease principal payments
(63,010
)
(30,577
)
Proceeds from exercise of stock options
394,926
–
Net cash provided (used in) by financing activities
331,916
(30,577
)
Net increase (decrease) in cash and cash equivalents
(3,764,369
)
(509,357
)
Cash and cash equivalents, beginning of the period
5,405,233
1,351,270
Cash and cash equivalents, end of the period
$
1,640,864
$
841,913
Supplemental disclosure of cash flow information:
Cash paid for interest
$
36,526
$
22,909
Cash paid for taxes
$
17,687
$
22,100
Non-cash investing activities
Right-of-use assets acquired under operating leases
