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ClearSign Technologies Corp
CLIRCIK 0001434524NasdaqNon-AcceleratedSmaller ReportingIndustrial Instruments For Measurement, Display, And ControlDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-5.50M
Total Assets
$12.18M
Equity
$9.53M
Shares Out
5.41M
Op. Cash Flow
$-4.74M
Business
ClearSign Technologies Corp designs and develops combustion and sensing technologies to decarbonize and improve performance of industrial and commercial combustion systems. It offers the ClearSign Core™ burner and flare technologies, process and boiler burner replacements, and the ClearSign Eye flame sensing products for retrofit and OEM integration. The company operates as a single business segment focused on designing, developing and selling combustion technologies that reduce emissions and improve efficiency. Its products target energy, refining, petrochemical, boiler and industrial markets, sold through OEMs, strategic partners and direct installations.
Summary from filing dated 2025-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 5 | 4 | 2 | 374,000 | 607,000 | |
| Cost of goods sold | 4 | 2 | 2 | 258,000 | 1 | |
| Gross profit | 1 | 1 | 817,000 | 116,000 | −452,000 | |
| Research and development | 1 | 1 | 739,000 | 505,000 | 3 | |
| General and administrative | 7 | 6 | 6 | 6 | 5 | |
| Total operating expenses | 8 | 8 | 7 | 6 | 8 | |
| Loss from operations | −7 | −6 | −6 | −6 | −8 | |
| Interest income | 439,000 | 516,000 | 324,000 | — | — | |
| Government assistance | 736,000 | 664,000 | 255,000 | — | — | |
| Other income, net | — | 9,000 | 208,000 | 6,000 | 1,000 | |
| Total other income, net | 1 | 1 | 787,000 | 359,000 | 253,000 | |
| Net loss | −5 | −5 | −5 | −6 | −8 | |
| Net loss per share - basic (in dollar per share) | −0.99 | −1.08 | −0.13 | −0.16 | −0.25 | |
| Net loss per share - fully diluted (in dollar per share) | −0.99 | −1.08 | −0.13 | −0.16 | −0.25 | |
| Weighted average number of shares outstanding - basic (in shares) | 6 | 5 | 39 | 35 | 31 | |
| Weighted average number of shares outstanding - fully diluted (in shares) | 6 | 5 | 39 | 35 | 31 | |
| Net loss | −5 | −5 | −5 | −6 | −8 | |
| Foreign-exchange translation adjustments | 1,000 | −4,000 | −9,000 | −17,000 | 9,000 | |
| Comprehensive loss | −5 | −5 | −5 | −6 | −8 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 9 | 14 | 6 | 6 | 8 | |
| Accounts receivable | 1 | 165,000 | 287,000 | 79,000 | 33,000 | |
| Deferred costs | 329,000 | 562,000 | 922,000 | — | — | |
| Prepaid expenses and other assets | 359,000 | 454,000 | 350,000 | 577,000 | 345,000 | |
| Total current assets | 11 | 15 | 7 | 10 | 8 | |
| Fixed assets, net | 195,000 | 238,000 | 275,000 | 384,000 | 530,000 | |
| Patents and other intangible assets, net | 760,000 | 830,000 | 836,000 | 798,000 | 799,000 | |
| Total Assets | 12 | 16 | 8 | 11 | 9 | |
| Accounts payable and accrued liabilities | 2 | 1 | 366,000 | 296,000 | 224,000 | |
| Current portion of lease liabilities | 96,000 | 75,000 | 71,000 | 133,000 | 205,000 | |
| Accrued compensation and related taxes | 564,000 | 671,000 | 703,000 | 471,000 | 218,000 | |
| Contract liabilities | 100,000 | 441,000 | 1 | 247,000 | 84,000 | |
| Other current liabilities | 180,000 | — | — | — | — | |
| Total current liabilities | 3 | 2 | 2 | 1 | 731,000 | |
| Long term lease liabilities | 67,000 | 113,000 | 172,000 | 226,000 | 350,000 | |
| Total liabilities | 3 | 3 | 2 | 1 | 1 | |
| Preferred stock, $0.0001 par value, 2,000,000 shares authorized, no shares issued or outstanding | — | — | — | — | — | |
| Common stock, $0.0001 par value, 87,500,000 shares authorized, 5,328,730 and 5,028,585 shares issued and outstanding at December 31, 2025 and 2024, respectively.* | 1,000 | 1,000 | 4,000 | 4,000 | 3,000 | |
| Additional paid-in capital | 114 | 113 | 99 | 98 | 91 | |
| Accumulated other comprehensive loss | −20,000 | −21,000 | −17,000 | −8,000 | 9,000 | |
| Accumulated deficit | −105 | −99 | −94 | −89 | −83 | |
| Total stockholders' equity | 10 | 14 | 5 | 10 | 8 | |
| Total Liabilities and Stockholders' Equity | 12 | 16 | 8 | 11 | 9 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Common stock issued for services | 65,000 | 29,000 | 10,000 | 26,000 | 33,000 | |
| Share-based compensation, net of tax withholdings | 893,000 | 528,000 | 614,000 | 373,000 | 680,000 | |
| Depreciation and amortization | 189,000 | 186,000 | 299,000 | 161,000 | — | |
| Impairment of intangible assets | 3,000 | 20,000 | 14,000 | — | — | |
| Right-of-use asset amortization | 88,000 | 86,000 | 125,000 | 131,000 | 188,000 | |
| Lease amendments | — | −3,000 | −14,000 | — | — | |
| Deferred costs | 233,000 | 360,000 | — | — | — | |
| Accounts receivable | −1 | 122,000 | −208,000 | −46,000 | −33,000 | |
| Prepaid expenses and other assets | 95,000 | −104,000 | 18,000 | −232,000 | 121,000 | |
| Accounts payable, accrued liabilities, and lease liabilities | 378,000 | 816,000 | −57,000 | −125,000 | −393,000 | |
| Other current liabilities | 180,000 | — | — | — | — | |
| Accrued compensation and related taxes | 172,000 | 294,000 | 452,000 | 360,000 | — | |
| Contract liabilities | −341,000 | −1 | 869,000 | 163,000 | −10,000 | |
| Net cash used in operating activities | −5 | −4 | −3 | −5 | −7 | |
| Acquisition of fixed assets | −4,000 | −39,000 | — | −10,000 | −73,000 | |
| Disbursements for patents and other intangible assets | −97,000 | −179,000 | −200,000 | −154,000 | −140,000 | |
| Net cash used in investing activities | −101,000 | −218,000 | 2 | −3 | −213,000 | |
| Proceeds from issuance of common stock, net of offering costs | 0 | 13 | 0 | 7 | 5 | |
| Proceeds from exercise of warrants | 24,000 | 25,000 | — | — | — | |
| Taxes paid related to employee stock awards | −45,000 | −46,000 | −15,000 | — | — | |
| Net cash provided by (used in) financing activities | −21,000 | 13 | −15,000 | 7 | 6 | |
| Effect of exchange rate changes on cash and cash equivalents | 1,000 | −4,000 | −9,000 | −17,000 | 9,000 | |
| Net change in cash and cash equivalents | −5 | 8 | −767,000 | −1 | −1 | |
| Officer and employee equity awards for prior year accrued compensation | 279,000 | 326,000 | 234,000 | 107,000 | 217,000 | |
| Non-cash impact of new lease | 68,000 | 32,000 | 34,000 | — | — |
Filings
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