Financial Performance - ClearSign Technologies recognized approximately $590,000 in revenues for Q4 2024, a decrease from $1.3 million in Q4 2023, attributed to reduced business activity [17]. - For the full year 2024, ClearSign achieved record revenues of approximately $3.6 million, a 50% increase compared to $2.4 million in 2023 [19]. - The gross profit margin for 2024 was approximately 31.1%, down from 34% in 2023, primarily due to higher-than-expected start-up costs for a new boiler burner installation [21]. - The net cash used in operations for 2024 was approximately $4.4 million, an increase from $3.2 million in 2023, driven by a decrease in contract liabilities [22]. - ClearSign reported a net loss of approximately $5.3 million for 2024, an increase of $100,000 compared to 2023, partly due to a one-time expense of $400,000 related to placing its China entity into dormant status [23][24]. - As of December 31, 2024, ClearSign had approximately $14 million in cash and cash equivalents, with about 50.2 million shares of common stock outstanding [26]. Strategic Partnerships and Collaborations - ClearSign formed a collaborative agreement with Zeeco, the second-largest burner manufacturer, to enhance product delivery and market presence [38]. - A co-branded Zeeco-ClearSign burner line was announced, with joint marketing efforts and training for the Zeeco sales team to promote ClearSign technology [53][54]. - ClearSign aims to diversify its product lines and expand sales channels, leveraging partnerships with companies like California Boiler and Zeeco [48]. - The agreement with Zeeco covers global refinery process burners, enhancing the company's market reach [179]. - The rollout of the Zeeco agreement is expected to take until 2026 for orders to materialize due to the slow nature of the industry [182]. - The company is currently focused on marketing materials and educating the Zeeco sales team to develop leads [181]. Product Development and Technology - The M Series burner was successfully installed in a midstream heater, achieving 2 ppm NOx emissions, demonstrating significant efficiency improvements [66]. - ClearSign has received an order for a second burner from Devco following the successful installation of the first burner [68]. - The company has 20 burners shipped to California, scheduled for installation and startup in early Q3 2023 [83]. - A four-heater order for a Fortune 500 chemical company on the Texas Gulf Coast is currently in the testing phase, with installation planned for early Q3 2023 [84]. - ClearSign is engaged in technology discussions for global refinery heater conversions, marking a significant step in expanding its market presence [87]. - A recent flare order project is valued at approximately $250,000, showcasing ClearSign's technology in a new application [100]. - The company is exploring opportunities in the low-NOx flare market, which could lead to system project values between $600,000 and $1.2 million [108]. - ClearSign has placed four Eye sensors at a major refinery as part of a trial, indicating renewed interest in this product line [113]. - The sensors developed by the company are expected to sell for approximately $4,000 each, with typical orders ranging from 10 to 50 sensors at a time [128]. - The addressable market for these sensors is significant, as they can be applied to every refinery burner globally, indicating a large growth opportunity [127]. - The hydrogen burner being developed is designed to be fuel-flexible, capable of operating on a range of gases from pure natural gas to 100% hydrogen [160]. Market Engagement and Sales Outlook - The company is experiencing increased pricing from vendors due to tariffs, which is affecting the cost of goods sold, particularly for stainless-steel materials [135]. - The company has received a request for quote for sensors from a global refiner, indicating strong interest in the new technology [142]. - The M1 burners are expected to drive significant sales in the midstream industry, with the company expressing excitement about their potential [138]. - The company aims to diversify its product line and expand its market reach, which will help smooth out revenue flow [131]. - The company has noted a potential for fuel savings of approximately 3% or more, which is a key selling point alongside reduced NOx emissions [167]. - The company is actively discussing proposals that have the potential to turn into orders, indicating a positive outlook for future sales [153]. - There is a significant increase in the range of projects and quotations compared to previous periods, indicating growth in engagement [173]. - The emphasis on fuel savings is highlighted as a material benefit for customers, alongside NOx reduction [175]. Operational Considerations - The company is cautious about rolling out technology in China due to concerns over intellectual property and pricing [180]. - The team has shown dedication and flexibility in expanding the business into new areas, requiring technical development and project planning [186]. - New accounting processes have been developed to support customers in innovative ways [187]. - The company acknowledges the operational support required for day-to-day operations alongside new initiatives [187]. - The CEO expressed gratitude to investors and employees for their continued support and dedication [186].

Financial Performance - ClearSign Technologies reported revenues of $0.4 million in Q1 2025, a decrease from $1.1 million in Q1 2024, representing a year-over-year decline of 63.6% [2] - The cost of sales for the quarter was $0.21 million, down 69.2% year-over-year, while gross profit fell 55.1% to $0.19 million [2] - The company reported a loss of 4 cents per share, missing the Zacks Consensus Estimate of a loss of 3 cents, compared to a loss of 3 cents in the same quarter last year [3] Product Launches and Partnerships - In Q1 2025, ClearSign Technologies launched the ClearSign Core M Series Process burner technology, which features ultra-low nitrogen oxide emissions and improved heat transfer efficiency [4] - The company secured an order for the ClearSign Core M1 burner from Devco Process Heaters for a gas processing facility in Colorado [5] - ClearSign extended its partnership with Zeeco to launch Zeeco CS5 and Zeeco Hydrogen CS5 Burners, which can operate on 100% natural gas and hydrogen while maintaining ultra-low nitrogen oxide emissions [5] Orders and Installations - During the quarter, ClearSign secured an engineering order for a reduced emissions flare burner for an energy company in California, indicating growing interest in this product line [6] - The company announced plans to install four ClearSign Eye sensors on each burner of a multi-burner process heater at a major U.S. Gulf Coast refinery, with installation expected in Q2 2025 [6] Stock Performance - ClearSign Technologies shares have declined by 6.7% over the past year, compared to a 3.3% decline in the industry [7] Zacks Rank and Comparisons - ClearSign Technologies currently holds a Zacks Rank of 3 (Hold) [10] - Other stocks in the Industrial Products sector with better rankings include Life360, Inc. (Rank 1), IHI Corporation (Rank 1), and Federal Signal Corporation (Rank 2) [10]

Financial Data and Key Metrics Changes - For Q1 2025, the company recognized approximately $400,000 in revenues, a decrease from $1,100,000 in the same period in 2024, primarily due to a decrease in process burner shipments [5][6] - The net loss increased by approximately $1,000,000 compared to Q1 2024, attributed to decreased sales volume and $581,000 in legal fees [6][7] - Net cash used in operations was approximately $1,100,000 for Q1 2025, compared to $1,000,000 in Q1 2024, with cash and cash equivalents at approximately $12,800,000 at the end of Q1 2025 [8][9] Business Line Data and Key Metrics Changes - The revenue decrease was largely due to a shift from process burner shipments to spare parts orders [6] - The company has received a large order for 26 process burners for a Texas Gulf Coast chemical company, which is currently in testing [11][12] - A repeat order for flare products has been received, indicating a resurgence in this product line driven by regulatory needs [13][14] Market Data and Key Metrics Changes - The number of quotations provided this year has doubled compared to the same period last year, with the total value of proposals being just under five times that of the previous year [30][31] - The company is seeing increased interest in the midstream market, with repeat inquiries from established customers [35][36] Company Strategy and Development Direction - The company is focusing on diversifying product lines and sales channels, with ongoing efforts to engage with channel partners like Zico [28][36] - There is a strong emphasis on expanding the sales pipeline and leveraging relationships with major refineries to establish ClearSign as a credible alternative for emissions control solutions [40][78] - The company is also exploring opportunities in the hydrogen technology space while maintaining its focus on low NOx requirements [68][69] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong interest in their products and the potential for increased inquiries and orders [30][31] - The company is closely monitoring the impact of tariffs and regulatory changes, noting minimal current effects on their operations [66][68] - Upcoming milestones include the startup of significant process burner projects and the engagement with Zico's sales team [55][56] Other Important Information - Legal fees incurred during the quarter were related to an SEC inquiry and stockholder director nominations, which are nearing completion [7] - The ClearSign Eye sensor product line is expected to see commercial traction in the next three to six months as installations begin [94] Q&A Session Summary Question: How are Zico salespeople incentivized to sell ClearSign products? - Management indicated that the incentive system is still being worked out, and discussions about specific incentives for ClearSign products have not yet occurred [61][62] Question: Can additional sensors be deployed at the same supermajor refinery? - Yes, the supermajor has many heaters with potential opportunities for additional sensors, and they have multiple refineries globally [64][65] Question: How does the current tariff and regulatory environment affect the business? - Management noted minimal impact from tariffs, with ongoing monitoring of regulatory changes, particularly regarding hydrogen technology [66][68] Question: What is the competitive landscape for the increased proposal volume? - The proposal growth includes competitive situations, but ClearSign is increasingly seen as a credible alternative to traditional solutions like SCR [77][78] Question: How much of the proposal volume is related to Zico? - Currently, inquiries are primarily from the ClearSign team, with no contributions from Zico yet, indicating that Zico's impact is still to come [82]

TULSA, Okla., May 21, 2025 /PRNewswire/ -- ClearSign Technologies Corporation (Nasdaq: CLIR) ("ClearSign" or the "Company"), an emerging leader in industrial combustion and sensing technologies that support decarbonization, improve operational and energy efficiency, enable the use of hydrogen as a fuel and enhance safety while dramatically reducing emissions, today provides an update on operations for the quarter ended March 31, 2025."We had a productive first quarter of the year, which included expanding b ...

Financial Performance - Revenues for Q1 2025 were $401 thousand, a decrease of $701 thousand or 63.6% compared to $1,102 thousand in Q1 2024[100] - Gross profit for Q1 2025 was $196 thousand, down $241 thousand or 55.1% from $437 thousand in Q1 2024, with a profit margin increase to 48.9%[101] - The net loss for Q1 2025 was $2,076 thousand, an increase of $968 thousand or 87.4% compared to a net loss of $1,108 thousand in Q1 2024[100] Expenses - Research and development expenses increased by $166 thousand or 59.1% in Q1 2025, primarily due to higher product development costs[103] - General and administrative expenses rose by $598 thousand or 42.5% in Q1 2025, largely due to increased legal fees related to regulatory inquiries[104] Cash Flow and Capital - Cash and cash equivalents decreased by $1,169 thousand to $12,866 thousand as of March 31, 2025, primarily due to the net loss[106] - Working capital as of March 31, 2025, was $11,099 thousand, down from $12,809 thousand at the end of 2024[107] - Operating activities for Q1 2025 resulted in cash outflows of $1,111 thousand, primarily due to the net loss of $2,076 thousand[108] - Financing activities for the three months ended March 31, 2025, resulted in cash outflows of $17 thousand, primarily due to $41 thousand in tax disbursements for employee restricted stock units, partially offset by $24 thousand in net proceeds from warrant exercises[111] - The company has raised approximately $105.3 million in gross proceeds through equity securities since inception, with ongoing needs for additional capital[86] Compliance and Regulatory Issues - The company received a notice from Nasdaq indicating it no longer meets the minimum bid price requirement of $1 per share, with a compliance period until September 29, 2025[94][95] - The company is at risk of delisting from Nasdaq if it fails to comply with the minimum closing bid price requirement of $1.00 per share by September 29, 2025[122] - The company has been granted 180 calendar days to regain compliance with Nasdaq's listing requirements[123] Internal Controls and Legal Matters - As of March 31, 2025, the company maintained effective disclosure controls and procedures at a reasonable assurance level[115] - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2025, that materially affected internal controls[116] - The management does not expect that the disclosure controls and procedures will prevent or detect all errors and fraud due to inherent limitations[118] - The company is currently not aware of any legal proceedings that may materially affect its business or financial condition[120] - The company is subject to risks associated with proxy contests and actions from activist stockholders, which could interfere with its business plan[124] Stock Issuance - On March 31, 2025, the company issued 3,750 shares of common stock at a fair market value of $0.94 per share from its 2013 Consultant Stock Plan[127] Off-Balance Sheet Transactions - There were no off-balance sheet transactions reported[112]

Core Insights - ClearSign Technologies Corporation has received an engineering order for an additional retrofit burner for a flare from an energy company in California, indicating a growing demand for low emissions solutions [1][2] - This order marks the second burner sold to this customer within the year and the third overall, reinforcing the company's position in advanced combustion technologies [2] - The retrofit burner is intended to be installed in an enclosed flare at a production facility in the San Joaquin Valley, with installation expected in the fourth quarter of 2025 [2] Company Overview - ClearSign Technologies Corporation specializes in designing and developing technologies aimed at decarbonization, operational performance, energy efficiency, emission reduction, and safety [3] - The company's patented technologies, such as ClearSign Core™ and ClearSign Eye™, enhance combustion systems and fuel safety across various industries, including energy, commercial/industrial boiler, chemical, and power [3]

Core Insights - ClearSign Technologies Corporation is an emerging leader in industrial combustion and sensing technologies aimed at decarbonization, operational efficiency, hydrogen fuel usage, and emission reduction [4] Group 1: Upcoming Conference Call - ClearSign will host a conference call on May 21, 2025, at 5:00 PM ET to discuss its quarterly financial and operational results for the quarter ending March 31, 2025 [1] - The company will file its quarterly report on form 10-Q with the SEC shortly before the call [1] Group 2: Participation Details - Investors can participate in the live call by dialing 1-800-836-8184 within the U.S. or 1-646-357-8785 from abroad, and can also access the call via a listen-only webcast [2] - A Q&A session will be held during the call, with investors encouraged to submit questions in advance via email [2] Group 3: Post-Call Information - The webcast will be archived on the company's investor relations website for at least 90 days, and a telephonic playback will be available for 7 days after the call [3] Group 4: Company Overview - ClearSign develops technologies for decarbonization and enhancing performance in industrial and commercial systems, focusing on energy efficiency, emission reduction, and safety [4] - The company's patented technologies, such as ClearSign Core™ and ClearSign Eye™, are integrated into various markets including energy, chemical, and power industries [4]

Financial Data and Key Metrics Changes - For Q4 2024, ClearSign recognized approximately $590,000 in revenues, a decrease from $1.3 million in Q4 2023, attributed to reduced business activity [7][8] - Full year 2024 revenues reached approximately $3.6 million, a 50% increase from $2.4 million in 2023, driven by increased business activity [9][10] - Gross profit margin for 2024 was approximately 31.1%, down from 34% in 2023, due to higher startup costs associated with a new boiler burner installation [11][12] - Net cash used in operations for 2024 was approximately $4.4 million, compared to $3.2 million in 2023, influenced by a decrease in contract liabilities [12][13] - The net loss for 2024 was approximately $5.3 million, an increase of $100,000 from 2023, partly due to a one-time expense related to the China entity [13][14] Business Line Data and Key Metrics Changes - The revenue increase in 2024 was primarily from the shipment of 25 process burners to California refineries, compared to 8 process burners in 2023 [9][11] - The company shipped two boiler burners in Q4 2024, down from eight process burners in Q4 2023, indicating a shift in product focus [8][9] Market Data and Key Metrics Changes - The company is experiencing a slow market in the boiler burner sector, particularly in California, but has seen an uptick in inquiries recently [71][72] - The midstream market is identified as a significant opportunity, with successful installations leading to further orders [46][56] Company Strategy and Development Direction - ClearSign aims to diversify its product lines and expand its market reach, leveraging partnerships with companies like Zeeco and California Boiler [26][28] - The company is focusing on developing technology applicable to larger markets while maintaining its core competencies [29][32] - The introduction of the M-Series burner is expected to enhance market opportunities, particularly in the midstream sector [44][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the importance of sales leads from partnerships and the potential for growth in the midstream industry [115][116] - The company is also exploring opportunities in the flaring market and sensor technology, which could provide additional revenue streams [90][106] Other Important Information - ClearSign received a letter from NASDAQ regarding non-compliance with minimum bid price requirements, with a 180-day cure period to regain compliance [14] - As of December 31, 2024, the company had approximately $14 million in cash and cash equivalents [15] Q&A Session Summary Question: What led to the record revenue year? - Management noted that the revenue increase was primarily due to a large order of refinery burners shipped to Los Angeles and ongoing customer relationships [20][21] Question: What are the high-level themes and strategies for 2025 and 2026? - The focus is on diversifying product lines, expanding sales channels, and leveraging partnerships to enhance market presence [29][32] Question: What is the current status of the process burner pipeline? - The company has 20 burners scheduled for installation in California and a four-burner order for a Fortune 500 chemical company in Texas [66][68] Question: What is the outlook for the boiler burner market? - The market has been slow, but recent inquiries suggest a potential uptick in activity [71][72] Question: How is the company addressing tariff impacts? - Increased pricing from vendors due to tariffs is being managed through proposal adjustments [111][112] Question: What is the status of the hydrogen burner project? - The hydrogen burner is designed to be fuel-flexible, suitable for various gas blends, ensuring its utility regardless of hydrogen project timelines [135][136]

Financial Data and Key Metrics Changes - For Q4 2024, ClearSign recognized approximately $590,000 in revenues, a decrease from $1.3 million in Q4 2023, driven by reduced business activity [7][8] - Full year 2024 revenues reached approximately $3.6 million, a 50% increase from $2.4 million in 2023, primarily due to increased shipments of process burners [9][10] - Gross profit margin for 2024 was approximately 31.1%, down from 34% in 2023, attributed to higher startup costs for a new boiler burner installation [11][12] - Net loss for 2024 was approximately $5.3 million, an increase of $100,000 from 2023, partly due to a one-time expense related to placing the China entity into dormant status [13] Business Line Data and Key Metrics Changes - In 2024, revenues were mainly generated from the shipment of 25 process burners to California refineries, compared to 8 process burners and 3 customer witness tests in 2023 [9][11] - The company shipped two boiler burners in Q4 2024, down from eight process burners in Q4 2023, indicating a shift in product focus [8] Market Data and Key Metrics Changes - The company is experiencing a slow market in the boiler burner sector, particularly in California, but has seen an uptick in inquiries recently [71] - ClearSign is starting to engage in technology discussions for large global refinery heater conversions, indicating a potential expansion in market opportunities [68] Company Strategy and Development Direction - ClearSign aims to diversify its product lines and expand its market reach, leveraging partnerships with companies like Zeeco and California Boiler [26][32] - The company is focusing on developing technology applicable to larger markets while maintaining its core competencies [29] - A co-branded product line with Zeeco has been launched, enhancing market recognition and sales potential [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the potential for sales growth in the midstream industry and the introduction of new product lines [115][116] - The company is also looking to expand its offerings from components to larger systems, which could significantly increase revenue potential [91][92] Other Important Information - ClearSign received a letter from NASDAQ regarding non-compliance with minimum bid price requirements, with a 180-day period to regain compliance [14] - As of December 31, 2024, the company had approximately $14 million in cash and cash equivalents, positioning it well to meet customer demands [15] Q&A Session Summary Question: What is different now in terms of proposals compared to previous years? - Management noted that there are more active sensor quotes and midstream orders, with significant engagement in major refining projects [128][129] Question: Are tariffs affecting the project pipeline? - Management confirmed that tariffs are impacting the cost of goods, particularly stainless steel materials, leading to increased pricing from vendors [111][112] Question: What is the addressable market for the new sensors? - The sensor technology is applicable to every refinery burner globally, with a sales price around $4,000 each, and potential for multiple units per order [102][103]

Core Insights - ClearSign Technologies Corporation achieved record annual revenue of approximately $3.6 million for the year ended December 31, 2024, compared to $2.4 million in 2023, marking a year-over-year increase driven primarily by a significant order for process burners from a California refinery [3][18]. Strategic and Operational Highlights - The company has expanded its collaboration with Zeeco, launching a co-branded process burner product line that can utilize 100% natural gas and hydrogen while maintaining low emissions [4]. - ClearSign received a follow-on purchase order for a multi-heater project from Birwelco USA Inc. to retrofit four process heaters with 26 ClearSign Core™ burners for a Fortune 500 chemical company [5]. - The company is installing ClearSign Eye sensors at a supermajor refinery on the U.S. Gulf Coast, expected to be completed in the second quarter of 2025 [6]. - ClearSign secured burner orders from Exotherm Corporation for power generation applications in Oklahoma and Missouri [8]. Financial Information - As of December 31, 2024, the company reported cash and cash equivalents of approximately $14 million, an increase from $5.7 million in 2023 [9][15]. - Total assets increased to approximately $15.9 million in 2024 from $7.6 million in 2023, while total liabilities decreased to $2.2 million from $2.4 million [15][16]. - The company reported a net loss of $5.3 million for 2024, slightly higher than the net loss of $5.2 million in 2023, with a net loss per share of $(0.11) compared to $(0.13) in the previous year [18].