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CLIR logoClearSign Technologies Corporation(CLIR)Earnings, Financials & Key Ratios

CLIR•NASDAQ
$4.91
$258M mkt cap·Price updated May 6, 2026
SectorIndustrialsIndustryEnvironmental ServicesSub-IndustryAir and Water Treatment Systems
AboutClearSign Technologies Corporation designs and develops products and technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications. The company also provides ClearSign Core Boiler Burner; and ClearSign Core Flaring Burners technologies. It serves energy, institutional, commercial and industrial boiler, chemical, and petrochemical industries. The company was formerly known as ClearSign Combustion Corporation and changed its name ClearSign Technologies Corporation in November 2019. ClearSign Technologies Corporation was incorporated in 2008 and is headquartered in Tulsa, Oklahoma.Show more
  • Revenue$4M+49.6%
  • EBITDA-$6M-11.9%
  • Net Income-$5M-2.0%
  • EPS (Diluted)-0.11+15.4%
  • Gross Margin31.09%-8.6%
  • EBITDA Margin-172.86%+25.3%
  • Operating Margin-180.42%+27.5%
  • Net Margin-147.36%+31.8%
  • ROE-55.91%+20.6%
  • Debt/Equity0.01-70.8%
Technical→

CLIR Key Insights

ClearSign Technologies Corporation (CLIR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Shares diluted 27.1% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 17.5x book value
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CLIR Price & Volume

ClearSign Technologies Corporation (CLIR) stock price & volume — 10-year historical chart

Loading chart...

CLIR Growth Metrics

ClearSign Technologies Corporation (CLIR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years80.94%
TTM-49.7%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-24.73%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-7.2%

Return on Capital

10 Years-118.26%
5 Years-74.11%
3 Years-70.96%
Last Year-67.44%

CLIR Recent Earnings

ClearSign Technologies Corporation (CLIR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 3/12 qtrs (27%)
Q2 2026Latest
Apr 9, 2026
EPS
$0.01
Est $0.30
+103.3%
Revenue
$4M
Est $2M
+52.6%
Q4 2025
Nov 14, 2025
EPS
$0.03
Est $0.04
+25.0%
Revenue
$1M
Est $2M
-57.6%
Q3 2025
Aug 14, 2025
EPS
$0.03
Est $0.04
+25.0%
Revenue
$133,000
Est $644,000
-79.3%
Q2 2025
May 21, 2025
EPS
$0.03
Est $0.03
+0.0%
Revenue
$401,000
Est $644,000
-37.7%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 9, 2026
$0.01vs $0.30+103.3%
$4Mvs $2M+52.6%
Q4 2025Nov 14, 2025
$0.03vs $0.04+25.0%
$1Mvs $2M-57.6%
Q3 2025Aug 14, 2025
$0.03vs $0.04+25.0%
$133,000vs $644,000-79.3%
Q2 2025May 21, 2025
$0.03vs $0.03+0.0%
$401,000vs $644,000-37.7%
Based on last 12 quarters of dataView full earnings history →

CLIR Peer Comparison

ClearSign Technologies Corporation (CLIR) competitors in Air and Water Treatment Systems — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FTEK logoFTEKFuel Tech, Inc.Direct Competitor43M1.38-18.386.14%-11.15%-7.34%0.01
PESI logoPESIPerma-Fix Environmental Services, Inc.Direct Competitor218.49M11.78-15.714.33%-22.35%-24.89%0.09
CECO logoCECOCECO Environmental Corp.Direct Competitor3.09B86.2562.9638.79%2.11%5.45%0.08
ENVX logoENVXEnovix CorporationDirect Competitor1.39B6.69-8.9237.91%-492.57%-0.06%0.08
CLNE logoCLNEClean Energy Fuels Corp.Product Competitor491.3M2.24-2.222.16%-52.22%-39.29%0.18
GNRC logoGNRCGenerac Holdings Inc.Product Competitor15.69B267.4299.41-2.02%4.37%7.18%0.51
AMTX logoAMTXAemetis, Inc.Product Competitor220.79M3.24-2.53-22.29%-38.96%
HAL logoHALHalliburton CompanySupply Chain33.74B40.4026.93-3.31%6.95%14.59%0.77

Compare CLIR vs Peers

ClearSign Technologies Corporation (CLIR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FTEK

Most directly comparable listed peer for CLIR.

Scale Benchmark

vs XOM

Larger-name benchmark to compare CLIR against a more recognizable public peer.

Peer Set

Compare Top 5

vs FTEK, PESI, CECO, ENVX

CLIR Income Statement

ClearSign Technologies Corporation (CLIR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue621K540K530K00607K374K2.4M3.6M2.15M
Revenue Growth %918.03%-13.04%-1.85%-100%---38.39%542.51%49.65%-49.7%
Cost of Goods Sold485K380K427K1K279K1.06M404K1.59M2.48M1.45M
COGS % of Revenue78.1%70.37%80.57%--174.46%108.02%66%68.91%-
Gross Profit
136K▲ 0%
160K▲ 17.6%
103K▼ 35.6%
-1K▼ 101.0%
-279K▼ 27800.0%
-452K▼ 62.0%
-30K▲ 93.4%
817K▲ 2823.3%
1.12M▲ 36.8%
707K▲ 0%
Gross Margin %21.9%29.63%19.43%---74.46%-8.02%34%31.09%32.84%
Gross Profit Growth %1136.36%17.65%-35.63%-100.97%-27800%-62.01%93.36%2823.33%36.84%-
Operating Expenses11.34M9.87M9.67M8.58M6.65M7.69M6.09M6.8M7.61M8.22M
OpEx % of Revenue1826.25%1828.15%1825.28%--1267.38%1627.54%282.9%211.51%-
Selling, General & Admin6.51M5.16M5.62M5.53M4.62M5.01M5.58M6.06M6.13M6.75M
SG&A % of Revenue1048.31%955.56%1060.75%--825.86%1492.51%252.14%170.61%-
Research & Development4.83M4.71M4.05M3.06M2.03M2.68M505K739K1.47M1.46M
R&D % of Revenue777.94%872.59%764.53%--441.52%135.03%30.75%40.91%-
Other Operating Expenses0000000000
Operating Income
-11.21M▲ 0%
-9.71M▲ 13.3%
-9.57M▲ 1.5%
-8.58M▲ 10.3%
-6.93M▲ 19.2%
-8.14M▼ 17.5%
-6.12M▲ 24.9%
-5.98M▲ 2.2%
-6.49M▼ 8.5%
-7.51M▲ 0%
Operating Margin %-1804.35%-1798.52%-1805.85%---1341.85%-1635.56%-248.9%-180.42%-348.86%
Operating Income Growth %-41.09%13.32%1.45%10.32%19.24%-17.5%24.9%2.22%-8.48%-
EBITDA-11M-9.41M-9.3M-8.34M-6.72M-7.88M-5.83M-5.56M-6.22M-7.23M
EBITDA Margin %-1770.85%-1743.52%-1754.72%---1299.01%-1557.49%-231.25%-172.86%-335.81%
EBITDA Growth %-42.04%14.39%1.22%10.29%19.43%-17.3%26.13%4.6%-11.86%-29.06%
D&A (Non-Cash Add-back)208K297K271K240K210K260K292K424K272K281K
EBIT-11.21M-9.71M-9.57M-8.48M-6.89M-7.89M-5.76M-5.73M-5.82M-6.7M
Net Interest Income32K32K71K101K2K1K83K0516K585K
Interest Income32K32K71K101K2K1K83K0516K585K
Interest Expense0000000000
Other Income/Expense32K32K71K101K46K253K359K787K1.19M1.16M
Pretax Income
-11.17M▲ 0%
-9.68M▲ 13.4%
-9.5M▲ 1.9%
-8.48M▲ 10.7%
-6.89M▲ 18.8%
-7.89M▼ 14.6%
-5.76M▲ 27.0%
-5.19M▲ 9.8%
-5.3M▼ 2.0%
-6.35M▲ 0%
Pretax Margin %-1799.19%-1792.59%-1792.45%---1300.16%-1539.57%-216.15%-147.36%-294.89%
Income Tax0000000000
Effective Tax Rate %0%0%0%0%0%0%0%0%0%0%
Net Income
-11.17M▲ 0%
-9.68M▲ 13.4%
-9.5M▲ 1.9%
-8.38M▲ 11.8%
-6.84M▲ 18.4%
-7.89M▼ 15.4%
-5.76M▲ 27.0%
-5.19M▲ 9.8%
-5.3M▼ 2.0%
-6.35M▲ 0%
Net Margin %-1799.19%-1792.59%-1792.45%---1299.84%-1539.57%-216.15%-147.36%-294.89%
Net Income Growth %-41.47%13.36%1.86%11.81%18.38%-15.38%27.02%9.8%-2.02%-24.73%
Net Income (Continuing)-11.17M-9.68M-9.5M-8.48M-6.89M-7.89M-5.76M-5.19M-5.3M-6.35M
Discontinued Operations0000000000
Minority Interest0003K1K00000
EPS (Diluted)
-0.86▲ 0%
-0.63▲ 26.7%
-0.42▲ 33.3%
-0.31▲ 26.2%
-0.25▲ 19.4%
-0.25▲ 0.0%
-0.15▲ 40.0%
-0.13▲ 13.3%
-0.11▲ 15.4%
-0.11▲ 0%
EPS Growth %-36.51%26.74%33.33%26.19%19.35%0%40%13.33%15.38%-7.2%
EPS (Basic)-0.86-0.63-0.42-0.31-0.25-0.25-0.15-0.13-0.11-
Diluted Shares Outstanding12.93M15.37M22.78M26.7M27.84M31.23M35.34M38.5M48.94M55.74M
Basic Shares Outstanding12.93M15.37M22.78M26.7M27.84M31.23M35.34M38.5M48.94M55.74M
Dividend Payout Ratio----------

CLIR Balance Sheet

ClearSign Technologies Corporation (CLIR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets1.9M1.8M16.41M8.98M9.38M8.02M9.73M6.51M14.85M11.75M
Cash & Short-Term Investments1.26M1.25M15.87M8.55M8.82M7.61M9.06M5.68M14.04M10.49M
Cash Only1.26M1.25M8.95M8.55M8.82M7.61M6.45M5.68M14.04M10.49M
Short-Term Investments006.92M0002.61M000
Accounts Receivable103K184K39K39K92K72K99K475K359K838K
Days Sales Outstanding60.54124.3726.86--43.2996.6272.1536.4475.23
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets000000577K0454K420K
Total Non-Current Assets1.89M2.36M2.16M1.96M1.74M1.34M1.19M1.11M1.07M1M
Property, Plant & Equipment144K508K467K665K427K530K384K275K238K223K
Fixed Asset Turnover4.31x1.06x1.13x--1.15x0.97x8.74x15.11x9.29x
Goodwill0000000000
Intangible Assets1.74M1.86M1.69M1.28M1.3M799K798K836K830K778K
Long-Term Investments0000000000
Other Non-Current Assets10K0010K10K10K10K000
Total Assets
3.79M▲ 0%
4.16M▲ 9.9%
18.57M▲ 346.3%
10.94M▼ 41.1%
11.12M▲ 1.6%
9.36M▼ 15.8%
10.93M▲ 16.7%
7.62M▼ 30.3%
15.92M▲ 108.9%
12.75M▲ 0%
Asset Turnover0.16x0.13x0.03x--0.06x0.03x0.32x0.23x0.15x
Asset Growth %-73.34%9.9%346.29%-41.08%1.64%-15.81%16.68%-30.25%108.87%182.81%
Total Current Liabilities1.54M1.53M1.64M1.3M1.08M731K1.15M2.26M2.04M3.58M
Accounts Payable542K587K823K845K435K224K296K256K78K1.62M
Days Payables Outstanding407.9563.83703.5308.43K569.0977.2267.4358.9211.49278.92
Short-Term Debt0159K216K177K169K000094K
Deferred Revenue (Current)115K-587K-823K50K94K0247K1.04M73K3.78M
Other Current Liabilities882K629K382K0084K0181K471K364K
Current Ratio1.23x1.17x10.03x6.92x8.69x10.98x8.49x2.89x7.28x7.28x
Quick Ratio1.23x1.17x10.03x6.92x8.69x10.98x8.49x2.89x7.28x7.28x
Cash Conversion Cycle----------203.7
Total Non-Current Liabilities353K195K91K418K500K350K226K172K113K91K
Long-Term Debt0000251K00000
Capital Lease Obligations353K195K91K418K249K350K226K172K113K417K
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities0000000000
Total Liabilities1.54M1.73M1.73M1.72M1.58M1.08M1.37M2.43M2.15M3.67M
Total Debt503K354K307K595K669K555K359K243K188K185K
Net Debt-756K-893K-8.64M-7.96M-8.15M-7.05M-6.09M-5.44M-13.85M-10.3M
Debt / Equity0.22x0.15x0.02x0.06x0.07x0.07x0.04x0.05x0.01x0.01x
Debt / EBITDA----------0.03x
Net Debt / EBITDA---------1.43x
Interest Coverage----------
Total Equity
2.24M▲ 0%
2.43M▲ 8.4%
16.84M▲ 592.5%
9.23M▼ 45.2%
9.54M▲ 3.4%
8.28M▼ 13.2%
9.55M▲ 15.3%
5.19M▼ 45.6%
13.76M▲ 165.1%
9.08M▲ 0%
Equity Growth %-82.16%8.38%592.52%-45.22%3.41%-13.2%15.33%-45.64%165.1%261.78%
Book Value per Share0.170.160.740.350.340.270.270.130.280.16
Total Shareholders' Equity2.24M2.43M16.84M9.22M9.54M8.28M9.55M5.19M13.76M9.08M
Common Stock1K2K3K3K3K3K4K4K5K5K
Retained Earnings-40.33M-50.01M-59.58M-67.99M-74.87M-82.77M-88.52M-93.72M-99.02M-104.2M
Treasury Stock0000000000
Accumulated OCI-876K-1.14M-1.37M009K-8K-17K-21K-20K
Minority Interest0003K1K00000

CLIR Cash Flow Statement

ClearSign Technologies Corporation (CLIR) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations-8.67M-8.26M-8.38M-6.9M-5.96M-6.71M-4.99M-3.23M-4.37M-4.37M
Operating CF Margin %-1396.46%-1529.26%-1581.89%---1104.94%-1334.76%-134.54%-121.61%-
Operating CF Growth %-38.51%4.77%-1.53%17.68%13.59%-12.46%25.57%35.24%-35.26%99.09%
Net Income-11.17M-9.68M-9.5M-8.48M-6.89M-7.89M-5.76M-5.19M-5.3M-6.35M
Depreciation & Amortization208K297K271K240K210K448K292K424K272K282K
Stock-Based Compensation645K369K224K685K800K680K373K614K528K182K
Deferred Taxes1.97M0322K0000000
Other Non-Cash Items177K342K242K747K17K266K-38K7K46K829K
Working Capital Changes-500K414K57K-92K-105K-209K139K916K80K1.19M
Change in Receivables-103K103K145K0-53K20K-27K-376K117K61K
Change in Inventory-1.01M-15K00000000
Change in Payables260K13K312K00-393K-125K-57K816K-269K
Cash from Investing-1.05M-421K-7.42M6.5M-194K-213K-2.69M2.49M-218K-119K
Capital Expenditures-1.05M-421K-502K-20K-17K-73K-10K-200K-39K-58K
CapEx % of Revenue169.73%77.96%94.72%--12.03%2.67%8.32%1.08%-
Acquisitions0000000000
Investments----------
Other Investing-917K-327K-7.33M-398K-177K-140K-115K5K-179K-61K
Cash from Financing194K8.67M23.51M06.43M5.69M6.54M-15K12.95M-7K
Debt Issued (Net)0000251K00000
Equity Issued (Net)01000K1000K01000K1000K1000K01000K49K
Dividends Paid0000000000
Share Repurchases0000000000
Other Financing-194K000126K385K0-15K-21K-56K
Net Change in Cash
-9.73M▲ 0%
-12K▲ 99.9%
7.7M▲ 64283.3%
-397K▼ 105.2%
272K▲ 168.5%
-1.22M▼ 547.4%
-1.16M▲ 5.0%
-767K▲ 33.7%
8.35M▲ 1188.8%
-4M▲ 0%
Free Cash Flow
-9.73M▲ 0%
-8.68M▲ 10.8%
-8.89M▼ 2.4%
-7.32M▲ 17.6%
-6.16M▲ 15.9%
-6.92M▼ 12.4%
-5.16M▲ 25.5%
-3.43M▲ 33.4%
-4.59M▼ 33.7%
-3.92M▲ 0%
FCF Margin %-1566.18%-1607.22%-1676.6%---1140.03%-1378.61%-142.86%-127.67%-182.3%
FCF Growth %-31.03%10.76%-2.39%17.62%15.87%-12.37%25.49%33.42%-33.73%28.89%
FCF per Share-0.75-0.56-0.39-0.27-0.22-0.22-0.15-0.09-0.09-0.09
FCF Conversion (FCF/Net Income)0.78x0.85x0.88x0.82x0.87x0.85x0.87x0.62x0.83x0.62x
Interest Paid0000000000
Taxes Paid0000000000

CLIR Key Ratios

ClearSign Technologies Corporation (CLIR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)-150.76%-414.03%-98.58%-64.28%-72.87%-88.54%-64.57%-70.46%-55.91%-69.94%
Return on Invested Capital (ROIC)-545.52%-481.27%-147.41%-135.96%-391.64%-467.03%-195.64%-279.4%-611.48%
Gross Margin21.9%29.63%19.43%---74.46%-8.02%34%31.09%32.84%
Net Margin-1799.19%-1792.59%-1792.45%---1299.84%-1539.57%-216.15%-147.36%-294.89%
Debt / Equity0.22x0.15x0.02x0.06x0.07x0.07x0.04x0.05x0.01x0.01x
FCF Conversion0.78x0.85x0.88x0.82x0.87x0.85x0.87x0.62x0.83x0.62x
Revenue Growth918.03%-13.04%-1.85%-100%---38.39%542.51%49.65%-49.7%

CLIR SEC Filings & Documents

ClearSign Technologies Corporation (CLIR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 10, 2026·SEC

Material company update

Mar 30, 2026·SEC

Material company update

Mar 10, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 31, 2026·SEC

FY 2025

Mar 31, 2025·SEC

FY 2024

Apr 1, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 14, 2025·SEC

FY 2025

Aug 14, 2025·SEC

FY 2025

May 15, 2025·SEC

CLIR Frequently Asked Questions

ClearSign Technologies Corporation (CLIR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

ClearSign Technologies Corporation (CLIR) reported $2.2M in revenue for fiscal year 2024.

ClearSign Technologies Corporation (CLIR) grew revenue by 49.6% over the past year. This is strong growth.

ClearSign Technologies Corporation (CLIR) reported a net loss of $6.3M for fiscal year 2024.

Dividend & Returns

ClearSign Technologies Corporation (CLIR) has a return on equity (ROE) of -55.9%. Negative ROE indicates the company is unprofitable.

ClearSign Technologies Corporation (CLIR) had negative free cash flow of $3.9M in fiscal year 2024, likely due to heavy capital investments.

Explore More CLIR

ClearSign Technologies Corporation (CLIR) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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