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CLIRClearSign Technologies Corporation
$3.86$21M
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CLIR logoClearSign Technologies Corporation(CLIR)Earnings, Financials & Key Ratios

CLIR•NASDAQ
Price updated Jun 19, 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$5M+45.6%
  • EBITDA-$6M+9.0%
  • Net Income-$5M-3.7%
  • EPS (Diluted)-0.99+10.0%
  • Gross Margin27.21%-12.5%
  • EBITDA Margin-108.1%+37.5%
  • Operating Margin-113.39%+37.2%
  • Net Margin-105.01%+28.7%
  • ROE-47.19%+15.6%

CLIR Key Insights

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

✓Strengths

  • ✓Company is almost debt free

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 10 (bottom 10%)
  • ✗Shares diluted 13.4% in last year
  • ✗Trading more than 30% below 52-week high

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

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CLIR Price & Volume

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

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CLIR Growth Metrics

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

Revenue CAGR

10 Years56.08%
5 Years-
3 Years140.98%
TTM73.54%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM10.48%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM18.06%

Return on Capital

10 Years-113.1%
5 Years-69.64%
3 Years-65.67%
Last Year-50.57%

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 2/12 qtrs (18%)
Q2 2026Latest
May 20, 2026
Metric
Actual
Est
EPS
$0.39-34.5%
$0.29
Rev
$191,000-85.0%
$1M
Q2 2026
May 15, 2026
Metric
Actual
Est
EPS
$0.39-34.5%
$0.29
Rev
$191,000-85.0%
$1M
Q2 2026
Apr 9, 2026
Metric
Actual
Est
EPS
$0.01+103.3%
$0.30
Rev
$4M+52.6%
$2M
Q4 2025
Nov 14, 2025
Metric
Actual
Est
EPS
$0.03+25.0%
$0.04
Rev
$1M-57.6%
$2M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 20, 2026
$0.39vs $0.29-34.5%
$191,000vs $1M-85.0%
Q2 2026May 15, 2026
$0.39vs $0.29-34.5%
$191,000vs $1M-85.0%
Q2 2026Apr 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%
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
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
FTEK logoFTEKFuel Tech, Inc.Direct Competitor47.98M1.54-20.516.14%-11.15%-7.34%0.01
PESI logoPESIPerma-Fix Environmental Services, Inc.Direct Competitor204.21M11.00-14.674.33%-30.06%-34.48%0.09
CECO logoCECOCECO Environmental Corp.Direct Competitor3.53B98.4071.8238.79%2.11%5.45%0.08
ENVX logoENVXEnovix CorporationDirect Competitor1.54B7.08-9.4437.91%-499.64%-0.28%1.97
CLNE logoCLNEClean Energy Fuels Corp.Product Competitor409.62M1.86-1.842.56%-22.65%-17.17%0.18
GNRC logoGNRCGenerac Holdings Inc.Product Competitor16.38B279.15103.77-2.02%4.37%7.18%0.51
AMTX logoAMTXAemetis, Inc.Product Competitor133.57M1.96-1.53-22.29%-35.43%
HAL logoHALHalliburton CompanySupply Chain29.17B34.9323.29-3.31%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
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
540K530K00607K374K2.4M3.6M5.23M5.02M
Revenue Growth %
-13.04%-1.85%-100%---38.39%542.51%49.65%45.55%73.54%
Cost of Goods Sold
380K427K1K279K1.06M258K1.59M2.48M3.81M4.19M
COGS % of Revenue
70.37%80.57%--174.46%68.98%66%68.91%72.79%-
Gross Profit
160K▲ 0%
103K▼ 35.6%
-1K▼ 101.0%
-279K▼ 27800.0%
-452K▼ 62.0%
116K▲ 125.7%
817K▲ 604.3%
1.12M▲ 36.8%
1.42M▲ 27.4%
835K▲ 0%
Gross Margin %
29.63%19.43%---74.46%31.02%34%31.09%27.21%16.62%
Gross Profit Growth %
17.65%-35.63%-100.97%-27800%-62.01%125.66%604.31%36.84%27.37%-
Operating Expenses
9.87M9.67M8.58M6.65M7.69M6M6.8M7.61M7.36M7.1M
OpEx % of Revenue
1828.15%1825.28%--1267.38%1604.55%282.9%211.51%140.6%-
Selling, General & Admin
5.16M5.62M5.53M4.62M5.01M5.73M6.06M6.13M6.67M6.3M
SG&A % of Revenue
955.56%1060.75%--825.86%1531.55%252.14%170.61%127.49%-
Research & Development
4.71M4.05M3.06M2.03M2.68M505K739K1.47M1.42M1.22M
R&D % of Revenue
872.59%764.53%--441.52%135.03%30.75%40.91%27.17%-
Other Operating Expenses
00000-232K00-736K-429K
Operating Income
-9.71M▲ 0%
-9.57M▲ 1.5%
-8.58M▲ 10.3%
-6.93M▲ 19.2%
-8.14M▼ 17.5%
-5.88M▲ 27.7%
-5.98M▼ 1.6%
-6.49M▼ 8.5%
-5.93M▲ 8.5%
-6.26M▲ 0%
Operating Margin %
-1798.52%-1805.85%---1341.85%-1573.53%-248.9%-180.42%-113.39%-124.68%
Operating Income Growth %
13.32%1.45%10.32%19.24%-17.5%27.75%-1.63%-8.48%8.52%-
EBITDA
-9.41M-9.3M-8.34M-6.72M-7.88M-5.59M-5.56M-6.22M-5.66M-5.99M
EBITDA Margin %
-1743.52%-1754.72%---1299.01%-1495.45%-231.25%-172.86%-108.1%-119.25%
EBITDA Growth %
14.39%1.22%10.29%19.43%-17.3%29.07%0.64%-11.86%8.98%17.01%
D&A (Non-Cash Add-back)
297K271K240K210K260K292K424K272K277K273K
EBIT
-9.71M-9.57M-8.48M-6.89M-7.89M-5.88M-5.73M-5.82M-5.93M-5.9M
Net Interest Income
32K71K101K2K1K83K0516K439K368K
Interest Income
32K71K101K2K1K83K0516K439K368K
Interest Expense
0000000000
Other Income/Expense
32K71K101K46K253K127K787K1.19M439K654K
Pretax Income
-9.68M▲ 0%
-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%
-5.5M▼ 3.7%
-5.61M▲ 0%
Pretax Margin %
-1792.59%-1792.45%---1300.16%-1539.57%-216.15%-147.36%-105.01%-111.66%
Income Tax
0000000000
Effective Tax Rate %
0%0%0%0%0%0%0%0%0%0%
Net Income
-9.68M▲ 0%
-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%
-5.5M▼ 3.7%
-5.61M▲ 0%
Net Margin %
-1792.59%-1792.45%---1299.84%-1539.57%-216.15%-147.36%-105.01%-111.66%
Net Income Growth %
13.36%1.86%11.81%18.38%-15.38%27.02%9.8%-2.02%-3.72%10.48%
Net Income (Continuing)
-9.68M-9.5M-8.48M-6.89M-7.89M-5.76M-5.19M-5.3M-5.5M-5.61M
Discontinued Operations
0000000000
Minority Interest
003K1K000000
EPS (Diluted)
-6.30▲ 0%
-4.20▲ 33.3%
-3.10▲ 26.2%
-2.50▲ 19.4%
-2.50▲ 0.0%
-1.50▲ 40.0%
-1.30▲ 13.3%
-1.10▲ 15.4%
-0.99▲ 10.0%
-1.00▲ 0%
EPS Growth %
26.74%33.33%26.19%19.35%0%40%13.33%15.38%10%18.06%
EPS (Basic)
-6.30-4.20-3.10-2.50-2.50-1.50-1.30-1.10-0.99-
Diluted Shares Outstanding
1.54M2.28M2.67M2.78M3.12M3.53M3.85M4.89M5.55M5.63M
Basic Shares Outstanding
1.54M2.28M2.67M2.78M3.12M3.53M3.85M4.89M5.55M5.63M
Dividend Payout Ratio
----------

CLIR Balance Sheet

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
1.8M16.41M8.98M9.38M8.02M9.73M6.51M14.85M11.23M8.35M
Cash & Short-Term Investments
1.25M15.87M8.55M8.82M7.61M9.06M5.68M14.04M9.18M7.74M
Cash Only
1.25M8.95M8.55M8.82M7.61M6.45M5.68M14.04M9.18M7.74M
Short-Term Investments
06.92M0002.61M0000
Accounts Receivable
184K39K39K92K72K99K475K359K1.36M179K
Days Sales Outstanding
124.3726.86--43.2996.6272.1536.4494.8448.49
Inventory
0000000000
Days Inventory Outstanding
----------
Other Current Assets
00000577K0454K688K431K
Total Non-Current Assets
2.36M2.16M1.96M1.74M1.34M1.19M1.11M1.07M955K1.49M
Property, Plant & Equipment
508K467K665K427K530K384K275K238K195K166K
Fixed Asset Turnover
1.06x1.13x--1.15x0.97x8.74x15.11x26.84x24.07x
Goodwill
0000000000
Intangible Assets
1.86M1.69M1.28M1.3M799K798K836K830K760K764K
Long-Term Investments
000000000127K
Other Non-Current Assets
0010K10K10K10K000433K
Total Assets
4.16M▲ 0%
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%
12.18M▼ 23.5%
9.84M▲ 0%
Asset Turnover
0.13x0.03x--0.06x0.03x0.32x0.23x0.43x0.41x
Asset Growth %
9.9%346.29%-41.08%1.64%-15.81%16.68%-30.25%108.87%-23.47%-101.4%
Total Current Liabilities
1.53M1.64M1.3M1.08M731K1.15M2.26M2.04M2.58M2.17M
Accounts Payable
587K823K845K435K224K296K256K78K1.64M644K
Days Payables Outstanding
563.83703.5308.43K569.0977.2418.7658.9211.49157.5119
Short-Term Debt
159K216K177K169K000096K98K
Deferred Revenue (Current)
-587K-823K50K94K0247K1.04M73K02.89M
Other Current Liabilities
629K382K0084K0181K471K280K1.11M
Current Ratio
1.17x10.03x6.92x8.69x10.98x8.49x2.89x7.28x4.34x3.85x
Quick Ratio
1.17x10.03x6.92x8.69x10.98x8.49x2.89x7.28x4.34x3.85x
Cash Conversion Cycle
----------70.51
Total Non-Current Liabilities
195K91K418K500K350K226K172K113K67K42K
Long-Term Debt
000251K000000
Capital Lease Obligations
195K91K418K249K350K226K172K113K67K315K
Deferred Tax Liabilities
0000000000
Other Non-Current Liabilities
0000000000
Total Liabilities
1.73M1.73M1.72M1.58M1.08M1.37M2.43M2.15M2.65M2.21M
Total Debt
354K307K595K669K555K359K243K188K163K140K
Net Debt
-893K-8.64M-7.96M-8.15M-7.05M-6.09M-5.44M-13.85M-9.02M-7.6M
Debt / Equity
0.15x0.02x0.06x0.07x0.07x0.04x0.05x0.01x0.02x0.02x
Debt / EBITDA
----------0.02x
Net Debt / EBITDA
---------1.27x
Interest Coverage
----------
Total Equity
2.43M▲ 0%
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%
9.53M▼ 30.8%
7.62M▲ 0%
Equity Growth %
8.38%592.52%-45.22%3.41%-13.2%15.33%-45.64%165.1%-30.76%-140.65%
Book Value per Share
1.587.393.463.432.652.701.352.811.721.35
Total Shareholders' Equity
2.43M16.84M9.22M9.54M8.28M9.55M5.19M13.76M9.53M7.62M
Common Stock
2K3K3K3K3K4K4K5K1K1K
Retained Earnings
-50.01M-59.58M-67.99M-74.87M-82.77M-88.52M-93.72M-99.02M-104.51M-106.7M
Treasury Stock
0000000000
Accumulated OCI
-1.14M-1.37M009K-8K-17K-21K-20K-18K
Minority Interest
003K1K000000

CLIR Cash Flow Statement

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

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-8.26M-8.38M-6.9M-5.96M-6.71M-4.99M-3.23M-4.37M-4.74M-4.97M
Operating CF Margin %
-1529.26%-1581.89%---1104.94%-1334.76%-134.54%-121.61%-90.49%-
Operating CF Growth %
4.77%-1.53%17.68%13.59%-12.46%25.57%35.24%-35.26%-8.3%-191.79%
Net Income
-9.68M-9.5M-8.48M-6.89M-7.89M-5.76M-5.19M-5.3M-5.5M-5.61M
Depreciation & Amortization
297K271K240K210K448K292K424K272K277K274K
Stock-Based Compensation
369K224K685K800K680K373K614K528K893K81K
Deferred Taxes
0322K00000000
Other Non-Cash Items
342K242K747K17K266K-38K7K46K68K932K
Working Capital Changes
414K57K-92K-105K-209K139K916K80K-478K-650K
Change in Receivables
103K145K0-53K20K-27K-376K117K-1.2M-215K
Change in Inventory
-15K000000000
Change in Payables
13K312K00-393K-125K-57K816K378K528K
Cash from Investing
-421K-7.42M6.5M-194K-213K-2.69M2.49M-218K-101K-124K
Capital Expenditures
-421K-502K-20K-17K-73K-10K-200K-39K0-124K
CapEx % of Revenue
77.96%94.72%--12.03%2.67%8.32%1.08%1.93%2.47%
Acquisitions
0000000000
Investments
----------
Other Investing
-327K-7.33M-398K-177K-140K-115K5K-179K-101K0
Cash from Financing
8.67M23.51M06.43M5.69M6.54M-15K12.95M-21K-36K
Debt Issued (Net)
000251K000000
Equity Issued (Net)
8.67M23.51M06.05M5.31M6.54M012.97M24K0
Dividends Paid
0000000000
Share Repurchases
0000000000
Other Financing
000126K385K0-15K-21K-45K-36K
Net Change in Cash
-12K▲ 0%
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%
-4.86M▼ 158.2%
-5.13M▲ 0%
Free Cash Flow
-8.68M▲ 0%
-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%
-4.84M▼ 5.4%
-5.01M▲ 0%
FCF Margin %
-1607.22%-1676.6%---1140.03%-1378.61%-142.86%-127.67%-92.42%-99.76%
FCF Growth %
10.76%-2.39%17.62%15.87%-12.37%25.49%33.42%-33.73%-5.36%-8.91%
FCF per Share
-5.65-3.90-2.74-2.21-2.22-1.46-0.89-0.94-0.87-0.89
FCF Conversion (FCF/Net Income)
0.85x0.88x0.82x0.87x0.85x0.87x0.62x0.83x0.86x0.89x
Interest Paid
0000000000
Taxes Paid
0000000000

CLIR Key Ratios

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

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
-414.03%-98.58%-64.28%-72.87%-88.54%-64.57%-70.46%-55.91%-47.19%-61.23%
Return on Invested Capital (ROIC)
-481.27%-147.41%-135.96%-391.64%-467.03%-188.22%-279.4%--2060.76%783.33%
Gross Margin
29.63%19.43%---74.46%31.02%34%31.09%27.21%16.62%
Net Margin
-1792.59%-1792.45%---1299.84%-1539.57%-216.15%-147.36%-105.01%-111.66%
Debt / Equity
0.15x0.02x0.06x0.07x0.07x0.04x0.05x0.01x0.02x0.02x
FCF Conversion
0.85x0.88x0.82x0.87x0.85x0.87x0.62x0.83x0.86x0.89x
Revenue Growth
-13.04%-1.85%-100%---38.39%542.51%49.65%45.55%73.54%
Related:CLIR Dividend History·CLIR Revenue History·CLIR Price History·CLIR P/E History·CLIR Financial Ratios·CLIR Institutional Holders

CLIR SEC Filings & Documents

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

8-K Announcements

6
Material company update

May 28, 2026·SEC

Material company update

May 21, 2026·SEC

Material company update

Apr 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 2026

May 15, 2026·SEC

FY 2025

Nov 14, 2025·SEC

FY 2025

Aug 14, 2025·SEC

CLIR Frequently Asked Questions

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

Growth & Financials

ClearSign Technologies Corporation (CLIR) reported $5.0M in revenue for fiscal year 2025.

ClearSign Technologies Corporation (CLIR) grew revenue by 45.6% over the past year. This is strong growth.

ClearSign Technologies Corporation (CLIR) reported a net loss of $5.6M for fiscal year 2025.

Dividend & Returns

ClearSign Technologies Corporation (CLIR) has a return on equity (ROE) of -47.2%. Negative ROE indicates the company is unprofitable.

ClearSign Technologies Corporation (CLIR) had negative free cash flow of $5.0M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in CLIR back in 2009?

Total return calculator · dividends reinvested · 17+ years of data

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How much would $100/month in CLIR be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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