Shares of ClearSign Technologies (CLIR) have been struggling lately and have lost 8.9% over the past week. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the fu ...

Revenue Performance - For Q3 2025, ClearSign Technologies recognized approximately $1 million in revenues, a decrease from approximately $1.9 million in Q3 2024, primarily due to a large order shipped in the prior year[7]. - The year-over-year order volume has increased, with Q3 2025 revenue driven by multiple spare parts orders and engineering services, indicating a successful diversification strategy[8]. - Spare parts sales contributed approximately $300,000 to revenue this quarter, indicating a growing and consistent revenue stream as more equipment is installed[78]. - ClearSign expects to see a proportional increase in spare parts revenue as the installed base of equipment grows, contributing to overall profitability[78]. Financial Performance - The net loss for Q3 2025 increased by approximately $274,000 compared to Q3 2024, but the gross margin improved by approximately 6.1 percentage points year-over-year[9]. - Net cash used in operations for Q3 2025 was approximately $1.8 million, up from $1.4 million in Q3 2024, with cash and cash equivalents at approximately $10.5 million as of September 30, 2025[10]. Product Development and Innovation - The company is developing a new burner technology capable of running on 100% natural gas to 100% hydrogen, with significant testing completed at the Zeeco test facility[20][23]. - The DOE SBIR project for developing a range of burners is nearing completion, with validation of scaling criteria underway to support future product lines[23]. - ClearSign is actively promoting its new burner developed from the SBIR program, which is expected to open new market opportunities and enhance customer engagement[69]. - The company is developing a burner capable of operating on a wide range of fuel mixtures, including 100% hydrogen, which positions it well for future market demands[75]. Market Demand and Customer Engagement - ClearSign has seen an uptick in order flow across major product lines, driven by customer trust and ongoing regulatory pressures in key markets like Texas and California[13]. - Regulatory changes in Texas and California are driving increased interest in ClearSign's products, particularly in the US Gulf Coast refining and petrochemical market[79]. - The company has received a testing order from a petrochemical client for a 100% hydrogen-capable burner, indicating strong interest in future deployment[19]. - ClearSign's focus on product development is aimed at addressing customer needs and expanding into new applications within the process field[69]. Strategic Partnerships and Collaborations - The partnership with Zeeco is progressing well, with extensive testing and fabrication support for ClearSign's burners, leading to increased proposals from Zeeco's sales teams[62]. - ClearSign Technologies is manufacturing 26 burners at Zeeco, with a focus on shipping them by year-end, which is expected to generate over $2 million in revenue[64]. Orders and Contracts - ClearSign Technologies received a new order for engineering services from a super major customer for the retrofit of two process heaters, involving a total of 32 ClearSign Core burners[29]. - The company has also secured an order for 36 ClearSign Core burners from an integrated petroleum producer for installation at the US Gold Coast refinery, emphasizing the importance of NOx emissions in the project[38][40]. - ClearSign has received purchase orders from three out of five to seven global super-majors, indicating strong market penetration[44]. - The M-series product line, particularly the M25 burner, is designed for retrofit applications and has received positive reception, with multiple proposals still in the pipeline[48]. - The company has received its fourth order for a flare system, with potential revenue from this order estimated between $150,000 to $500,000, depending on the components supplied[55]. Marketing and Promotion - ClearSign is leveraging social media for promotion and client engagement, indicating a strategic shift towards enhanced communication[82]. - The company is experiencing increased interest in its products, particularly the M-Series and flare products, which are expected to provide quicker revenue recognition compared to larger process burner orders[68].

Core Insights - Emirates, based in Dubai, will undertake maintenance, repair, and overhaul for the Trent 900 engines on its A380 aircraft starting in 2027, following a memorandum of understanding with Rolls-Royce [1] Company Summary - Emirates has secured a long-term agreement with Rolls-Royce for the maintenance of Trent 900 engines, indicating a strategic partnership aimed at enhancing operational efficiency and reliability for its A380 fleet [1] Industry Summary - The agreement highlights the growing importance of maintenance, repair, and overhaul (MRO) services in the aviation industry, particularly for large aircraft like the A380, as airlines seek to optimize performance and reduce downtime [1]

Financial Data and Key Metrics Changes - For Q3 2025, the company recognized approximately $1 million in revenues, a decrease from approximately $1.9 million in Q3 2024, primarily due to a large order shipped in the prior year [5][6] - The net loss increased by approximately $274,000 compared to the same period in 2024, driven by the decrease in sales volume [7] - Gross margin increased by approximately 6.1 percentage points year-over-year for Q3 2025, reinforcing the long-term strategy to target margins between 40% and 45% [8] - Net cash used in operations for Q3 was approximately $1.8 million, compared to $1.4 million in the same period in 2024 [8] Business Line Data and Key Metrics Changes - Q3 2025 revenue was generated from multiple spare parts orders, a midstream order, a flare order, and engineering services, indicating a diversification strategy adding incremental revenue [6] - The M-series burners are targeted at the gas industry and midstream gas, with significant growth potential in the energy sector, particularly with export LNG [18][19] Market Data and Key Metrics Changes - There has been an uptick in order flow across major product lines, driven by regulatory pressures and increased customer inquiries, particularly in Texas and California [11][12] - The company is seeing increased interest in its products due to ongoing regulatory changes in key markets, which are pushing customers to meet compliance requirements [12][92] Company Strategy and Development Direction - The company aims to expand its market presence by getting more equipment out in the field and building customer trust [11] - The focus is on developing a range of burners capable of operating on various fuel types, including hydrogen, to meet future market demands [88] - The company is also looking to leverage its technology in larger systems projects, moving beyond just burner sales to include comprehensive solutions [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the successful completion of significant projects and the potential for further orders [71] - The company anticipates continued traction in orders for the M-series and flare products, which are expected to fill revenue gaps while larger process burner orders are being developed [78] - Management does not foresee headwinds from federal regulatory changes, particularly regarding NOx emissions, and expects ongoing inquiries related to hydrogen capabilities [81][82] Other Important Information - The company has a strong working capital position, with approximately $10.5 million in cash and cash equivalents as of September 30, 2025 [8] - The relationship with Zeeco is strong, with extensive collaboration on testing and burner fabrication [70] Q&A Session Summary Question: What is the outlook for 2026 expected revenues based on the different types of orders? - Management indicated that while process burner orders are larger and take longer to execute, quicker-turn products like the M-series and flare orders will help fill revenue gaps [77][78] Question: Are there new product opportunities under development? - Management confirmed that there is potential for new products, particularly leveraging the technology developed under the SBIR program [80] Question: Is there any risk from federal regulatory changes affecting sales? - Management does not expect headwinds from the EPA regarding NOx emissions and sees ongoing interest in hydrogen capabilities from global clients [81][82] Question: What is the significance of spare parts in revenue? - Spare parts are becoming an increasingly important and consistent revenue stream, expected to grow as more equipment is installed [90][91] Question: What factors are driving increased orders from Texas and the Gulf Coast? - Management noted that while California business remains strong, there is a significant uptick in interest from the Gulf Coast due to regulatory awareness and acceptance in the industry [92]

Financial Data and Key Metrics Changes - For Q3 2025, the company recognized approximately $1 million in revenues, a decrease from approximately $1.9 million in Q3 2024, primarily due to a large order shipped in the prior year [5][6] - The net loss increased by approximately $274,000 compared to the same period in 2024, driven by the decrease in sales volume [6][8] - Gross margin increased by approximately 6.1 percentage points year-over-year for Q3 2025, reinforcing the long-term strategy to target margins between 40% and 45% [7] Business Line Data and Key Metrics Changes - Q3 2025 revenue was generated from multiple spare parts orders, a midstream order, a flare order, and engineering services, indicating a diversification strategy adding incremental revenue [6] - The M-series burners are targeted at the gas industry and midstream gas, with significant growth potential due to ongoing upgrades and compliance needs [18][19] Market Data and Key Metrics Changes - There has been an uptick in order flow across major product lines, driven by regulatory pressures and increased customer inquiries, particularly in Texas and California [11][12] - The company is seeing increased interest in its products due to evolving regulations in key markets, particularly regarding NOx emissions [17][62] Company Strategy and Development Direction - The company aims to expand its market presence by leveraging its technology to meet regulatory requirements and customer needs, particularly in the process burner and flare markets [12][62] - The development of a burner capable of operating on 100% hydrogen is seen as a significant opportunity for future applications, despite current market conditions [91] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming quarter, highlighting the shipment of 26 burners and ongoing projects that are expected to contribute to revenue [73][75] - The company anticipates that the M-series and flare products will help fill revenue gaps while larger process burner orders are being developed [80][82] Other Important Information - The company has approximately $10.5 million in cash and cash equivalents as of September 30, 2025, positioning it well for future growth [8] - Spare parts sales are expected to become a significant and consistent revenue stream as more equipment is installed [95] Q&A Session Summary Question: What is the impact of different order types on revenue expectations for 2026? - Management noted that process burner orders are larger but take longer to execute, while M-series and flare orders turn more quickly, helping to balance revenue flow [78][80] Question: Are there new product opportunities under development? - Management indicated potential for new products, particularly leveraging the technology developed under the SBIR program, which is versatile for various applications [83] Question: Is there any risk from federal regulatory changes affecting sales? - Management does not foresee significant headwinds from federal regulations, particularly regarding NOx emissions, and believes global interest in hydrogen capabilities will continue [84][92] Question: What is the outlook for spare parts revenue? - Spare parts are expected to grow as more equipment is installed, providing a high-margin revenue stream for the company [95] Question: What factors are driving increased orders from Texas and the Gulf Coast? - Management highlighted acceptance in the industry and upcoming regulatory changes as key factors driving interest in these regions [96]

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Key Takeaways ClearSign Technologies reported a Q3 loss of 3 cents per share on lower revenues.Revenues fell to $1.03M while gross profit declined y/y in the quarter.ClearSign Technologies ended Q3 with $10.5M in cash after using $3.45M in operating activities.ClearSign Technologies Corporation (CLIR) reported a loss of 3 cents per share in the third quarter of 2025, narrower than the Zacks Consensus Estimate of a loss of 4 cents. CLIR had incurred a loss of 2 cents in the year-ago quarter. ClearSign Techno ...

Core Insights - ClearSign Technologies reported a quarterly loss of $0.03 per share, which was better than the Zacks Consensus Estimate of a loss of $0.04, representing an earnings surprise of +25.00% [1] - The company posted revenues of $1.03 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 28.04%, and down from $1.86 million year-over-year [2] - ClearSign shares have declined approximately 39.9% year-to-date, contrasting with the S&P 500's gain of 14.6% [3] Financial Performance - Over the last four quarters, ClearSign has surpassed consensus EPS estimates two times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $2.02 million, and for the current fiscal year, it is -$0.14 on revenues of $3.99 million [7] Market Outlook - The company's earnings outlook will be influenced by management's commentary during the earnings call [4] - The Zacks Rank for ClearSign is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] - The Industrial Services industry, to which ClearSign belongs, is currently ranked in the bottom 21% of over 250 Zacks industries, which may impact stock performance [8]

Revenue Performance - The company reported revenues of $1,029 thousand for the three months ended September 30, 2025, a decrease of $830 thousand or 44.6% compared to $1,859 thousand in the same period of 2024[107]. - For the nine months ended September 30, 2025, revenues were $1,563 thousand, down $1,443 thousand or 48.0% from $3,006 thousand in the same period of 2024[108]. Net Loss and Profitability - The net loss for the three months ended September 30, 2025, was $1,429 thousand, an increase of $274 thousand or 23.7% compared to a net loss of $1,155 thousand in the same period of 2024[107]. - The gross profit for the three months ended September 30, 2025, decreased by $183 thousand or 33.2% compared to the same period in 2024, primarily due to lower revenues[111]. Operating Expenses - Operating expenses for the three months ended September 30, 2025, totaled $2,118 thousand, an increase of $134 thousand or 6.8% compared to $1,984 thousand in the same period of 2024[107]. - G&A expenses increased by $153 thousand, or 9.3%, for the three months ended September 30, 2025, compared to the same period in 2024[114]. - For the nine months ended September 30, 2025, G&A expenses increased by $620 thousand, or 12.8%, primarily due to a $588 thousand increase in legal fees[115]. Cash Flow and Working Capital - Cash and cash equivalents decreased by $3,547 thousand to $10,488 thousand as of September 30, 2025, primarily due to a net loss of $5,185 thousand[118]. - Working capital decreased to $8,168 thousand as of September 30, 2025, compared to $12,809 thousand at December 31, 2024[119]. - Operating activities resulted in cash outflows of $3,453 thousand for the nine months ended September 30, 2025, primarily due to a net loss of $5,185 thousand[120]. - Investing activities resulted in cash outflows of $78 thousand for the nine months ended September 30, 2025, primarily for patents and intangible assets[122]. - Financing activities resulted in cash outflows of $17 thousand for the nine months ended September 30, 2025, primarily due to taxes paid for the vesting of employee restricted stock units[123]. Equity and Compliance - As of September 30, 2025, the company has raised approximately $105.3 million in gross proceeds through equity securities sales[91]. - The company entered into an ATM Offering Agreement with Wainwright to offer and sell shares of common stock with an aggregate offering price of up to $10,390,000[100]. - The company received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement, with a deadline of March 30, 2026[102]. - The company was granted a 180-day extension until March 30, 2026, to regain compliance with Nasdaq's minimum closing bid price requirement[138]. Share Issuance and Potential Liabilities - Approximately 21.3 million shares of common stock are issuable upon exercise of outstanding warrants, potentially raising up to $22.5 million in gross proceeds[119]. - The company issued 15,000 shares to Firm IR Group LLC for services rendered, with 3,750 shares issued at a fair market value of $0.94 per share on September 30, 2025[145]. - An additional 87,016 shares were issued to Firm IR at a fair market value of $0.58 per share for reimbursement of legal fees incurred[146]. - The company has no contractual debt obligations and plans to fund operations through equity offerings until revenue growth covers operating expenses[119]. Legal and Insurance Risks - The company is subject to potential liabilities that may not be fully covered by insurance, which could impact financial condition and cash flows[143]. - There are inherent uncertainties in litigation costs and outcomes that could materially affect the company's financial status[144]. - No directors or officers adopted or modified trading arrangements during the fiscal quarter ended September 30, 2025[151]. Research and Development - Research and development expenses remained relatively consistent year-over-year for both the three and nine months ended September 30, 2025[113].

Core Viewpoint - ClearSign Technologies Corporation is positioned as an emerging leader in industrial combustion and sensing technologies that support decarbonization and improve operational and energy efficiency while significantly reducing emissions [1] Company Announcement - ClearSign will host a conference call on November 19, 2025, at 5:00 PM ET [1] - The company plans to file its quarterly report on form 10-Q with the SEC shortly and will release a summary of its financial and operating results for the quarter ending September 30, 2025, on the same day as the call [1]