Core Insights - ClearSign Technologies Corporation (CLIR) reported a narrower loss of 3 cents per share in Q3 2025, compared to a loss of 4 cents estimated by Zacks Consensus, and a loss of 2 cents in the same quarter last year [1][6] - The company's revenues for the quarter were $1.03 million, down from $1.86 million year-over-year, missing the Zacks Consensus Estimate by 28.04% [1][6] Financial Performance - The cost of sales in Q3 amounted to $661 million, a decrease of 49.5% year-over-year, while gross profit was $368 million, down from $551 million in the previous year [2] - Gross margin improved to 35.8% in the reported quarter from 29.6% in Q3 2024 [2] - General and administrative expenses rose to $1.81 million, an increase of 9.2% year-over-year, leading to an operating loss of $1.75 million compared to a loss of $1.43 million in the prior-year quarter [2] Financial Condition - As of September 30, 2025, the company had cash and cash equivalents of $10.5 million, down from $14 million as of December 31, 2024 [3] - The company utilized $3.45 million in operating activities during the first nine months of 2025, a decrease from $3.96 million in the same period of 2024 [3] Stock Performance - ClearSign Technologies' shares have increased by 1.4% over the past year, contrasting with a 12.4% decline in the industry [4] Peer Comparisons - MSC Industrial Direct Company, Inc. reported a fourth-quarter adjusted EPS of $1.09, beating estimates and showing a 6% year-over-year increase, with revenues of approximately $978 million, up 2.7% from the previous year [8] - SiteOne Landscape Supply, Inc. recorded an adjusted EPS of $1.31, surpassing estimates, with revenues of $1.26 billion, a 4% year-over-year increase [9] - W.W. Grainger, Inc. reported an EPS of $10.21, exceeding estimates, with revenues rising 6.1% year-over-year to $4.66 billion [10]

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]

Core Insights - ClearSign Technologies Corporation has received a purchase order for its ClearSign Core™ M25 burner from Devco Process Heaters, indicating strong market interest in its products [1] - This order marks the second purchase from Devco within a week, highlighting the rapid adoption of ClearSign's "M" Series burner line [1] Company Summary - ClearSign Technologies Corporation specializes in advanced combustion and sensing technologies aimed at reducing emissions and increasing efficiency in industrial operations [1] - The company supports the use of cleaner fuels, including hydrogen, which aligns with current trends towards sustainability in the energy sector [1] Industry Context - The growing interest in cleaner combustion technologies reflects a broader industry shift towards reducing environmental impact and enhancing operational safety [1] - The demand for products like the ClearSign Core™ M25 burner suggests a positive market outlook for companies focused on innovative and sustainable energy solutions [1]

Core Insights - ClearSign Technologies Corporation has received a purchase order for its "M" Series process burner, the ClearSign Core™ M25, from Devco Process Heaters [1] - The company is experiencing increasing interest in its new "M" Series process burner line, which is positioned as a strong product for the midstream market [1] Company Overview - ClearSign Technologies Corporation specializes in advanced combustion and sensing technologies aimed at reducing emissions, enhancing efficiency and safety, and facilitating the use of cleaner fuels such as hydrogen [1] Market Context - The growing interest in the "M" Series process burner indicates a positive trend in the midstream market, suggesting potential for further sales and market penetration [1]

Core Insights - ClearSign Technologies Corporation (CLIR) has secured an initial CFD and engineering order from a leading global refining company for the installation of 32 ClearSign Core burners at a California refinery, marking the first phase of a process heater retrofit [1][10] - The project is expected to commence imminently and will be executed in phases over the next 15 to 18 months [2][10] Recent Orders - In late September, ClearSign Technologies received an order from a major petrochemical customer for process burner testing services, which will demonstrate the operating range and robustness of its burners [3] - The testing process is anticipated to be completed by the fourth quarter of 2025, with the customer evaluating the technology for potential future deliveries at multiple facilities [4] Additional Engineering Orders - On September 17, ClearSign Technologies announced an initial engineering order for the installation of 36 ClearSign Core burners at a U.S. Gulf Coast refinery, indicating growing momentum for its technology in the petroleum industry [5][6] - The project will be executed in multiple phases, with the final delivery of the burners expected in the second half of 2026 [7] Financial Performance - In Q2 2025, ClearSign Technologies reported an adjusted loss of 3 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 4 cents, and an increase in revenues to $0.13 million from $0.04 million in the year-ago quarter, although it missed the consensus estimate of $1 million [8] Stock Performance - ClearSign Technologies' shares have increased by 10.8% over the past year, outperforming the industry growth of 9% [9]

Core Insights - ClearSign Technologies Corporation has received an initial CFD and engineering order for a retrofit project involving 32 ClearSign Core™ burners at a California refinery, marking a significant step in the adoption of its low-emission combustion solutions [1] Company Developments - The order comes from a supermajor refiner, indicating strong demand for ClearSign's advanced combustion technologies that aim to reduce emissions and enhance efficiency [1] - The project underscores the company's commitment to supporting cleaner fuel usage, including hydrogen, which aligns with industry trends towards sustainability [1] Industry Trends - The retrofit of process heaters reflects a growing trend in the refining industry towards higher efficiency and lower emissions, driven by regulatory pressures and market demand for cleaner energy solutions [1] - ClearSign's technologies are positioned to play a crucial role in helping industrial operators meet these evolving standards [1]

Core Insights - ClearSign Technologies Corporation (CLIR) received an order from a major petrochemical customer for process burner testing services, which will demonstrate the burners' operating range and robustness [1][9] Group 1: New Orders and Projects - The company will conduct testing to gather operational data under various conditions and fuel blends, with results expected by the fourth quarter of 2025 [2] - An initial engineering order was received on September 17 for the installation of 36 ClearSign Core burners at a U.S. Gulf Coast refinery, indicating growing momentum in the petroleum industry [3][4] - A purchase order was secured in August for engineering and modeling services to enhance ClearSign process burner technology, potentially for use in a California refinery's process heater [5] Group 2: Financial Performance - In Q2 2025, the company reported an adjusted loss of 3 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 4 cents, and an improvement from a loss of 4 cents in the same quarter last year [6] - Revenues for Q2 2025 were $0.13 million, up from $0.04 million in the year-ago quarter, but missed the Zacks Consensus Estimate of $1 million [6]

Core Insights - ClearSign Technologies Corporation has received an order for a comprehensive range of process burner testing from a major petrochemical customer, indicating strong demand for its advanced combustion technologies [1] Company Summary - ClearSign Technologies Corporation specializes in advanced combustion and sensing technologies aimed at reducing emissions, increasing efficiency and safety, and supporting cleaner fuel usage, including hydrogen [1] - The order from the petrochemical client reflects the company's capability and reputation in the industry, as noted by Jim Deller, Ph.D., who expressed encouragement regarding the extensive range of testing requested [1]