{"url_path":"/sec/cgeh/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-02-12","source_url":"https://www.sec.gov/Archives/edgar/data/1009759/0001104659-26-014292-index.html","accession_number":"0001104659-26-014292","cik":"0001009759","ticker":"CGEH","issuer_name":"Capstone Energy Plus, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1009759/0001104659-26-014292-index.html","primary_entity_key":"0001009759","primary_entity_name":"Capstone Green Energy Holdings, Inc."},"word_count":825,"has_tables":true,"body_markdown":"Capstone Green Energy Holdings, Inc._December 31, 2025\n\n0001009759Q3false1111http://fasb.org/srt/2025#ChiefExecutiveOfficerMemberhttp://fasb.org/srt/2025#ChiefExecutiveOfficerMemberhttp://fasb.org/srt/2025#ChiefExecutiveOfficerMemberhttp://fasb.org/srt/2025#ChiefExecutiveOfficerMemberhttp://fasb.org/us-gaap/2025#SecuredOvernightFinancingRateSofrMemberP5Yhttp://fasb.org/us-gaap/2025#InventoriesMember0001009759cgeh:RegistrationRightsAgreementLiabilityRegistrationRightsMember2025-12-310001009759us-gaap:TreasuryStockCommonMember2025-10-012025-12-310001009759us-gaap:TreasuryStockCommonMember2025-07-012025-09-300001009759us-gaap:TreasuryStockCommonMember2025-04-012025-06-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-10-012025-12-310001009759us-gaap:TreasuryStockCommonMember2025-12-310001009759us-gaap:RetainedEarningsMember2025-12-310001009759us-gaap:AdditionalPaidInCapitalMember2025-12-310001009759us-gaap:TreasuryStockCommonMember2025-09-300001009759us-gaap:RetainedEarningsMember2025-09-300001009759us-gaap:AdditionalPaidInCapitalMember2025-09-300001009759us-gaap:TreasuryStockCommonMember2025-06-300001009759us-gaap:RetainedEarningsMember2025-06-300001009759us-gaap:AdditionalPaidInCapitalMember2025-06-3000010097592025-06-300001009759us-gaap:TreasuryStockCommonMember2025-03-310001009759us-gaap:RetainedEarningsMember2025-03-310001009759us-gaap:AdditionalPaidInCapitalMember2025-03-310001009759us-gaap:RetainedEarningsMember2024-12-310001009759us-gaap:AdditionalPaidInCapitalMember2024-12-310001009759us-gaap:RetainedEarningsMember2024-09-300001009759us-gaap:AdditionalPaidInCapitalMember2024-09-3000010097592024-09-300001009759us-gaap:RetainedEarningsMember2024-06-300001009759us-gaap:AdditionalPaidInCapitalMember2024-06-3000010097592024-06-300001009759us-gaap:RetainedEarningsMember2024-03-310001009759us-gaap:AdditionalPaidInCapitalMember2024-03-310001009759us-gaap:RestrictedStockUnitsRSUMember2025-12-310001009759us-gaap:PerformanceSharesMember2025-12-310001009759us-gaap:RestrictedStockUnitsRSUMember2025-03-310001009759us-gaap:PerformanceSharesMember2025-03-310001009759us-gaap:RestrictedStockUnitsRSUMember2025-04-012025-12-310001009759us-gaap:PerformanceSharesMember2025-04-012025-12-310001009759us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2025-10-012025-12-310001009759us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2025-04-012025-12-310001009759us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2024-10-012024-12-310001009759us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2024-04-012024-12-310001009759srt:MaximumMember2025-10-012025-12-310001009759srt:MaximumMember2025-04-012025-12-310001009759srt:NorthAmericaMember2025-10-012025-12-310001009759srt:EuropeMember2025-10-012025-12-310001009759srt:AsiaMember2025-10-012025-12-310001009759country:US2025-10-012025-12-310001009759country:MX2025-10-012025-12-310001009759country:AU2025-10-012025-12-310001009759cgeh:NorthAmericaExcludingUnitedStatesOfAmericaAndMexicoMember2025-10-012025-12-310001009759cgeh:AllOtherCountriesAndRegionsExcludingNorthAmericaEuropeAsiaAndAustraliaMember2025-10-012025-12-310001009759srt:NorthAmericaMember2025-04-012025-12-310001009759srt:EuropeMember2025-04-012025-12-310001009759srt:AsiaMember2025-04-012025-12-310001009759country:US2025-04-012025-12-310001009759country:MX2025-04-012025-12-310001009759country:AU2025-04-012025-12-310001009759cgeh:NorthAmericaExcludingUnitedStatesOfAmericaAndMexicoMember2025-04-012025-12-310001009759cgeh:AllOtherCountriesAndRegionsExcludingNorthAmericaEuropeAsiaAndAustraliaMember2025-04-012025-12-310001009759srt:NorthAmericaMember2024-10-012024-12-310001009759srt:EuropeMember2024-10-012024-12-310001009759srt:AsiaMember2024-10-012024-12-310001009759country:US2024-10-012024-12-310001009759country:MX2024-10-012024-12-310001009759country:AU2024-10-012024-12-310001009759cgeh:NorthAmericaExcludingUnitedStatesOfAmericaAndMexicoMember2024-10-012024-12-310001009759cgeh:AllOtherCountriesAndRegionsExcludingNorthAmericaEuropeAsiaAndAustraliaMember2024-10-012024-12-310001009759srt:NorthAmericaMember2024-04-012024-12-310001009759srt:EuropeMember2024-04-012024-12-310001009759srt:AsiaMember2024-04-012024-12-310001009759country:US2024-04-012024-12-310001009759country:MX2024-04-012024-12-310001009759country:AU2024-04-012024-12-310001009759cgeh:NorthAmericaExcludingUnitedStatesOfAmericaAndMexicoMember2024-04-012024-12-310001009759cgeh:AllOtherCountriesAndRegionsExcludingNorthAmericaEuropeAsiaAndAustraliaMember2024-04-012024-12-3100010097592027-01-012025-12-3100010097592026-01-012025-12-310001009759cgeh:MicroturbineProductsMember2025-10-012025-12-310001009759cgeh:AccessoriesMember2025-10-012025-12-310001009759cgeh:MicroturbineProductsMember2025-04-012025-12-310001009759cgeh:AccessoriesMember2025-04-012025-12-310001009759cgeh:MicroturbineProductsMember2024-10-012024-12-310001009759cgeh:AccessoriesMember2024-10-012024-12-310001009759cgeh:MicroturbineProductsMember2024-04-012024-12-310001009759cgeh:AccessoriesMember2024-04-012024-12-3100010097592025-09-300001009759us-gaap:ToolsDiesAndMoldsMember2025-12-310001009759us-gaap:LeaseholdImprovementsMember2025-12-310001009759cgeh:RentalAssetsMember2025-12-310001009759cgeh:MachineryEquipmentAutomobilesAndFurnitureMember2025-12-310001009759us-gaap:ToolsDiesAndMoldsMember2025-03-310001009759us-gaap:LeaseholdImprovementsMember2025-03-310001009759cgeh:RentalAssetsMember2025-03-310001009759cgeh:MachineryEquipmentAutomobilesAndFurnitureMember2025-03-3100010097592025-11-252025-11-250001009759srt:AffiliatedEntityMember2025-10-012025-12-310001009759srt:AffiliatedEntityMember2024-10-012024-12-310001009759srt:AffiliatedEntityMember2024-04-012024-12-310001009759us-gaap:RetainedEarningsMember2025-10-012025-12-310001009759us-gaap:RetainedEarningsMember2025-07-012025-09-300001009759us-gaap:RetainedEarningsMember2025-04-012025-06-300001009759us-gaap:RetainedEarningsMember2024-10-012024-12-310001009759us-gaap:RetainedEarningsMember2024-07-012024-09-300001009759us-gaap:RetainedEarningsMember2024-04-012024-06-300001009759cgeh:SpitzerVFlexonJamisonJuricRobinsonAndHenckenMember2023-10-132023-10-130001009759cgeh:CalMicroturbineArbitrationMember2024-09-272024-09-270001009759cgeh:DvEnergyLlcVsCapstoneGreenEnergyHoldingsIncCapstoneTurbineCorporationCapstoneGreenEnergyCorporationAndCapstoneGreenEnergyLlcMember2024-08-262024-08-260001009759cgeh:CalMicroturbineArbitrationMember2024-08-182024-08-180001009759cgeh:CalMicroturbineArbitrationMember2024-03-132024-03-130001009759cgeh:SpitzerVFlexonJamisonJuricRobinsonAndHenckenMember2025-12-310001009759cgeh:MarkEstradaAndRicardoMontalvoVsCapstoneGreenEnergyLlcAndErickKimMember2025-12-310001009759cgeh:DvEnergyLlcVsCapstoneGreenEnergyHoldingsIncCapstoneTurbineCorporationCapstoneGreenEnergyCorporationAndCapstoneGreenEnergyLlcMember2025-12-310001009759srt:MaximumMember2025-12-310001009759cgeh:RentalAssetsOwnedAndFinancedAssetsMember2025-12-310001009759cgeh:RentalAssetsLeasedAssetsMember2025-12-310001009759cgeh:PrimaryOfficeAndManufacturingFacilitiesMember2025-12-310001009759cgeh:PrimaryOfficeAndManufacturingFacilitiesMember2025-04-012025-12-3100010097592006-10-012019-01-3100010097592006-04-012006-09-300001009759cgeh:ExitFacilityExitNotesExitRollUpNotesMemberus-gaap:SecuredDebtMember2023-12-072023-12-070001009759cgeh:ExitFacilityExitNotesExitNewMoneyNotesMemberus-gaap:SecuredDebtMember2023-12-072023-12-070001009759cgeh:ExitFacilityExitNotePurchaseAgreementMemberus-gaap:SecuredDebtMember2023-12-072023-12-070001009759cgeh:ExitFacilityUncommittedIncrementalFacilityMemberus-gaap:SecuredDebtMember2023-12-070001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2023-12-070001009759cgeh:ExitFacilityExitNotesExitRollUpNotesMemberus-gaap:SecuredDebtMember2023-12-070001009759cgeh:ExitFacilityExitNotesExitNewMoneyNotesMemberus-gaap:SecuredDebtMember2023-12-070001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2023-12-072023-12-070001009759cgeh:SingleReportableSegmentMember2025-10-012025-12-310001009759cgeh:RentalsMember2025-10-012025-12-310001009759cgeh:ProductAndAccessoriesMember2025-10-012025-12-310001009759cgeh:PartsAndServiceMember2025-10-012025-12-310001009759cgeh:SingleReportableSegmentMember2025-04-012025-12-310001009759cgeh:RentalsMember2025-04-012025-12-310001009759cgeh:ProductAndAccessoriesMember2025-04-012025-12-310001009759cgeh:PartsAndServiceMember2025-04-012025-12-310001009759cgeh:SingleReportableSegmentMember2024-10-012024-12-310001009759cgeh:RentalsMember2024-10-012024-12-310001009759cgeh:ProductAndAccessoriesMember2024-10-012024-12-310001009759cgeh:PartsAndServiceMember2024-10-012024-12-310001009759cgeh:SingleReportableSegmentMember2024-04-012024-12-310001009759cgeh:RentalsMember2024-04-012024-12-310001009759cgeh:ProductAndAccessoriesMember2024-04-012024-12-310001009759cgeh:PartsAndServiceMember2024-04-012024-12-310001009759cgeh:DtcSolucionesMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2025-10-012025-12-310001009759cgeh:SupernovaEnergyServicesMemberus-gaap:AccountsReceivableMemberus-gaap:CreditConcentrationRiskMember2025-04-012025-12-310001009759cgeh:RspSystemsMemberus-gaap:AccountsReceivableMemberus-gaap:CreditConcentrationRiskMember2025-04-012025-12-310001009759cgeh:LoneStarPowerSolutionsMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2025-04-012025-12-310001009759cgeh:EFinityDistributedGenerationMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2025-04-012025-12-310001009759cgeh:DtcSolucionesMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2025-04-012025-12-310001009759cgeh:CalMicroturbineLlcMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2025-04-012025-12-310001009759cgeh:LoneStarPowerSolutionsMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2024-10-012024-12-310001009759cgeh:EFinityDistributedGenerationMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2024-10-012024-12-310001009759cgeh:CalMicroturbineLlcMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2024-10-012024-12-310001009759cgeh:OptimalGroupAustraliaPtyLtdMemberus-gaap:AccountsReceivableMemberus-gaap:CreditConcentrationRiskMember2024-04-012025-03-310001009759cgeh:LoneStarPowerSolutionsMemberus-gaap:AccountsReceivableMemberus-gaap:CreditConcentrationRiskMember2024-04-012025-03-310001009759cgeh:LoneStarPowerSolutionsMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2024-04-012024-12-310001009759cgeh:EFinityDistributedGenerationMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2024-04-012024-12-310001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2025-12-310001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-12-310001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2025-09-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-09-300001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2025-06-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-06-300001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2025-03-310001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-03-310001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2024-12-310001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2024-12-310001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2024-09-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2024-09-300001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2024-06-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2024-06-300001009759us-gaap:NonvotingCommonStockMemberus-gaap:CommonStockMember2024-03-310001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2024-03-310001009759us-gaap:NonvotingCommonStockMember2025-12-310001009759cgeh:VotingCommonStockMember2025-12-310001009759us-gaap:NonvotingCommonStockMember2025-03-310001009759cgeh:VotingCommonStockMember2025-03-310001009759cgeh:CommonStockWarrantsEquityPreFundedWarrantsMember2025-12-310001009759us-gaap:AccountingStandardsUpdate202403Member2025-12-310001009759us-gaap:AccountingStandardsUpdate202309Member2025-12-3100010097592024-12-310001009759cgeh:CalMicroturbineLlcMember2025-10-012025-12-310001009759cgeh:CalMicroturbineLlcMember2025-04-012025-12-310001009759cgeh:CalMicroturbineLlcMember2024-10-012024-12-310001009759cgeh:CalMicroturbineLlcMember2024-04-012024-12-310001009759cgeh:CalMicroturbineLlcMember2025-08-132025-12-310001009759us-gaap:SellingGeneralAndAdministrativeExpensesMember2025-10-012025-12-310001009759us-gaap:ResearchAndDevelopmentExpenseMember2025-10-012025-12-310001009759us-gaap:CostOfSalesMember2025-10-012025-12-310001009759us-gaap:SellingGeneralAndAdministrativeExpensesMember2025-04-012025-12-310001009759us-gaap:ResearchAndDevelopmentExpenseMember2025-04-012025-12-310001009759us-gaap:CostOfSalesMember2025-04-012025-12-310001009759us-gaap:SellingGeneralAndAdministrativeExpensesMember2024-10-012024-12-310001009759us-gaap:ResearchAndDevelopmentExpenseMember2024-10-012024-12-310001009759us-gaap:CostOfSalesMember2024-10-012024-12-310001009759us-gaap:SellingGeneralAndAdministrativeExpensesMember2024-04-012024-12-310001009759us-gaap:ResearchAndDevelopmentExpenseMember2024-04-012024-12-310001009759us-gaap:CostOfSalesMember2024-04-012024-12-310001009759us-gaap:AdditionalPaidInCapitalMember2025-10-012025-12-310001009759us-gaap:AdditionalPaidInCapitalMember2025-07-012025-09-300001009759srt:AffiliatedEntityMember2025-04-012025-12-310001009759us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300001009759us-gaap:AdditionalPaidInCapitalMember2024-10-012024-12-310001009759us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001009759us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300001009759us-gaap:NonvotingCommonStockMember2026-02-120001009759cgeh:VotingCommonStockMember2026-02-120001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-07-012025-09-300001009759cgeh:VotingCommonStockMemberus-gaap:CommonStockMember2025-04-012025-06-3000010097592025-07-012025-09-3000010097592025-04-012025-06-3000010097592024-07-012024-09-3000010097592024-04-012024-06-3000010097592023-12-072023-12-0700010097592023-12-070001009759cgeh:CapstoneGreenEnergyLlcMembersrt:AffiliatedEntityMember2023-12-072023-12-070001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2025-12-012025-12-310001009759us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2025-12-310001009759cgeh:CapstoneGreenEnergyCorporationMembersrt:AffiliatedEntityMember2023-12-0700010097592024-03-310001009759us-gaap:OperatingSegmentsMembercgeh:SingleReportableSegmentMember2025-10-012025-12-310001009759us-gaap:OperatingSegmentsMembercgeh:SingleReportableSegmentMember2025-04-012025-12-310001009759us-gaap:OperatingSegmentsMembercgeh:SingleReportableSegmentMember2024-10-012024-12-310001009759us-gaap:OperatingSegmentsMembercgeh:SingleReportableSegmentMember2024-04-012024-12-310001009759us-gaap:PrivatePlacementMember2025-11-250001009759us-gaap:PrivatePlacementMember2025-11-252025-11-250001009759srt:AffiliatedEntityMember2023-12-072023-12-070001009759cgeh:DvEnergyLlcVsCapstoneGreenEnergyHoldingsIncCapstoneTurbineCorporationCapstoneGreenEnergyCorporationAndCapstoneGreenEnergyLlcMember2025-06-052025-06-050001009759cgeh:CalMicroturbineArbitrationMember2024-09-092024-09-090001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2025-12-310001009759cgeh:ExitFacilityExitNotesExitRollUpNotesMemberus-gaap:SecuredDebtMember2025-12-310001009759cgeh:MicroturbineEquipmentMembersrt:ArithmeticAverageMember2025-04-012025-12-310001009759cgeh:MicroturbineEquipmentMember2025-04-012025-12-310001009759cgeh:MicroturbineEquipmentMember2025-12-3100010097592024-04-012025-03-3100010097592025-10-012025-12-3100010097592024-10-012024-12-3100010097592024-04-012024-12-3100010097592025-12-3100010097592025-03-310001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2025-06-230001009759cgeh:ExitFacilityExitNotesMemberus-gaap:SecuredDebtMember2024-06-280001009759cgeh:RegistrationRightsAgreementLiabilityRegistrationRightsMember2025-04-012025-12-310001009759cgeh:CommonStockWarrantsEquityPreFundedWarrantsMember2025-11-250001009759cgeh:CommonStockWarrantsEquityPreFundedWarrantsMember2025-11-252025-11-250001009759cgeh:CalMicroturbineLlcMember2025-08-132025-08-130001009759cgeh:CalMicroturbineLlcMember2025-08-1300010097592025-04-012025-12-31iso4217:USDxbrli:purecgeh:installmentcgeh:Dutr:MWcgeh:agreementiso4217:USDxbrli:sharesxbrli:sharescgeh:segment\n\n[Table of Contents](#TOC)\n\nf+\n\n**UNITED********STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n**Form ****10-Q**\n\n**(Mark One)**\n\n​\n\n**☒**\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n**For the quarterly period ended****December 31, 2025**\n\n​\n\n**or**\n\n​\n\n**☐**\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n**For the transition period from          to         **\n\n​\n\n**Commission File Number: ****001-15957**\n\n**Capstone Green Energy Holdings, Inc.**\n\n(Exact name of registrant as specified in its charter)\n\n​\n\n**Delaware**\n\n​\n\n**20-1514270**\n\n(State or other jurisdiction of\nincorporation or organization)\n\n​\n\n(I.R.S. Employer\nIdentification No.)\n\n​\n\n​\n\n​\n\n**16640 Stagg Street********Van Nuys****,****California******(Address of principal executive offices)\n\n​\n\n**91406******(Zip Code)\n\n​\n\n**818****-****734-5300**\n\n(Registrant’s telephone number, including area code)\n\n​\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nNone\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Title of each class**\n\n​\n\n**Trading Symbol(s)**\n\n​\n\n**Name of exchange on which registered**\n\n**Common Stock, par value****$0.001****per share**\n\n​\n\n**CGEH**\n\n​\n\n*****\n\n​\n\n****​\n\n​\n\n​\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\n​\n\nLarge accelerated filer ☐\n\nAccelerated filer ☐\n\nNon-accelerated filer ☒\n\nSmaller reporting company ☒\n\nEmerging growth company ☐\n\n​\n\n​\n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐\n\n​\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\nIndicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☒ No ☐\n\n​\n\nAs of February 12, 2026, the registrant had 22,976,840 shares of voting common stock, par value $0.001 per share, and 508,475 shares of non-voting common stock, par value $0.001 per share, outstanding.\n\n* The registrant’s shares of common stock trade over-the-counter on OTCQX operated on the OTC Markets under the symbol “CGEH.”\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**CAPSTONE GREEN ENERGY HOLDINGS, INC.**\n\n**TABLE OF CON****TENTS**\n\n​\n\n​\n\n**  ​ ​ ​**\n\n​\n\n**  ​ ​ ​**\n\n**Page********Number**\n\n[**PART I — FINANCIAL INFORMATION**](#PARTIFINANCIALINFORMATION_48305)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 1.](#Item1FinancialStatements_799872)\n\n​\n\n[Financial Statements (Unaudited)](#Item1FinancialStatements_799872)\n\n​\n\n3\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Condensed Consolidated Balance Sheets as of December 31, 2025 and March 31, 2025](#BALANCESHEETS_566151)\n\n​\n\n3\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Condensed Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2025 and 2024](#STATEMENTSOFOPERATIONS_91976)\n\n​\n\n4\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Condensed Consolidated Statements of Changes in Temporary Equity and Stockholders’ Deficit for the Three and Nine Months Ended December 31, 2025 and 2024](#CONDENSEDCONSOLIDATEDSTATEMENTSOFSTOCKHO)\n\n​\n\n5\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2025 and 2024](#STATEMENTSOFCASHFLOWS_535300)\n\n​\n\n6\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Notes to Condensed Consolidated Financial Statements](#NOTESTOCONDENSEDCONSOLIDATEDFINANCIALSTA)\n\n​\n\n7\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 2.](#Item2ManagementsDiscussionandAnalysisofF)\n\n​\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#Item2ManagementsDiscussionandAnalysisofF)\n\n​\n\n30\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 3.](#Item3)\n\n​\n\n[Quantitative and Qualitative Disclosures about Market Risk](#Item3)\n\n​\n\n38\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 4.](#Item4ControlsandProcedures_233496)\n\n​\n\n[Controls and Procedures](#Item4ControlsandProcedures_233496)\n\n​\n\n38\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[**PART II — OTHER INFORMATION**](#PARTIIOTHERINFORMATION_286171)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 1.](#Item1LegalProceedings_493900)\n\n​\n\n[Legal Proceedings](#Item1LegalProceedings_493900)\n\n​\n\n40\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 1A.](#Item1ARiskFactors_857331)\n\n​\n\n[Risk Factors](#Item1ARiskFactors_857331)\n\n​\n\n40\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 5.](#Item5Other)\n\n​\n\n[Other Information](#Item5Other)\n\n​\n\n41\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 6.](#Item6Exhibits_476884)\n\n​\n\n[Exhibits](#Item6Exhibits_476884)\n\n​\n\n42\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Signatures](#SIGNATURES_365303)\n\n​\n\n​\n\n​\n\n2\n\n[Table of Contents](#TOC)\n\n**PART I — FINANCIAL INFORMATIO****N**"}