What is ClearSign Technologies Corporation's earnings per share (EPS)?

ClearSign Technologies Corporation (CLIR) reported diluted earnings per share of -$0.99 for fiscal year 2025. This represents a 8.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ClearSign Technologies Corporation (CLIR) Financials

CLIR

FY2025 annual

Revenue $5.2M +45.6% YoY

Net Income -$5.5M -3.7% YoY

EPS (Diluted) -$0.99 +8.3% YoY

Free Cash Flow -$4.7M -7.4% YoY

Market Cap $23.9M as of Oct 3, 2026

Price / Sales 4.4x on $5.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 2.4x on $9.8M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 14, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CLIR SEC filings page.

ClearSign Technologies Corporation (CLIR) reported $5.2M in revenue for fiscal year 2025, up 45.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CLIR FY2025 2026-10-03

Revenue is expanding, but operating overhead still overwhelms gross profit, leaving cash generation below the business’s operating needs.

Revenue more than doubled from $2.4M in FY2023 to $5.2M in FY2025, yet gross-margin compression from 34.0% to 27.2% shows that added volume has not improved the economics of each sales dollar.

In FY2025, the net loss of $5.5M and operating cash flow of -$4.7M were close in scale, indicating that the reported loss largely reflects ongoing cash consumption rather than mainly non-cash accounting effects. The contrast with FY2024 is financing: a $12.9M inflow supported the balance sheet, while FY2025 financing was only -$21K, shifting attention back to internal cash generation.

A 4.3x current ratio and 0.3x debt-to-equity ratio describe short-term coverage with modest reported leverage, but that posture was not created by profitable operations. Accounts receivable climbed from $165K to $1.4M as revenue expanded, making working capital a more visible cash-use channel.

Financial Health Signals

Financial Health Score 62/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of ClearSign Technologies Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

ClearSign Technologies Corporation held $9.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $4.7M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and ClearSign Technologies Corporation scores 48/100 among other emerging companies.

Dilution

ClearSign Technologies Corporation had 5M shares outstanding at the end of fiscal year 2025, against 5M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and ClearSign Technologies Corporation scores 92/100 among other emerging companies.

R&D Intensity

ClearSign Technologies Corporation spent $1.4M on research and development in fiscal year 2025, which was 11.9% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and ClearSign Technologies Corporation scores 39/100 among other emerging companies.

Revenue Progress

ClearSign Technologies Corporation reported revenue of $5.2M in fiscal year 2025, against $3.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and ClearSign Technologies Corporation scores 78/100 among other emerging companies.

Burn Trend

ClearSign Technologies Corporation's operations used $4.7M of cash in fiscal year 2025, against $4.4M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and ClearSign Technologies Corporation scores 29/100 among other emerging companies.

Balance Sheet

ClearSign Technologies Corporation's cash, cash equivalents and investments came to $9.2M at the end of fiscal year 2025, against $2.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and ClearSign Technologies Corporation scores 84/100 among other emerging companies.

Altman Z-Score Distress

-7.13

ClearSign Technologies Corporation scores -7.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($23.9M) relative to total liabilities ($2.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/8

ClearSign Technologies Corporation passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

ClearSign Technologies Corporation reported a net loss of $5.5M while operations used $4.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$560K

YoY+321.1%

QoQ+193.2%

ClearSign Technologies Corporation generated $560K in revenue in Q2 2026. This represents an increase of 321.1% from the same quarter a year earlier. Against the prior quarter it is up 193.2%.

EBITDA

-$1.5M

YoY+18.3%

QoQ+34.7%

ClearSign Technologies Corporation's EBITDA was -$1.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.3% from the same quarter a year earlier. Against the prior quarter it is up 34.7%.

Net Income

-$1.3M

YoY+22.2%

QoQ+40.3%

ClearSign Technologies Corporation reported -$1.3M in net income in Q2 2026. This represents an increase of 22.2% from the same quarter a year earlier. Against the prior quarter it is up 40.3%.

EPS (Diluted)

-$0.22

YoY+26.7%

QoQ+43.6%

ClearSign Technologies Corporation earned -$0.22 per diluted share (EPS) in Q2 2026. This represents an increase of 26.7% from the same quarter a year earlier. Against the prior quarter it is up 43.6%.

Cash & Balance Sheet

Cash & Debt

$9.9M

YoY-19.9%

QoQ+27.8%

5Y CAGR-1.5%

10Y CAGR+6.3%

ClearSign Technologies Corporation held $9.9M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

YoY-87.0%

QoQ+25.8%

5Y CAGR-26.4%

10Y CAGR-6.2%

ClearSign Technologies Corporation had 7M shares outstanding in Q2 2026. This represents a decrease of 87.0% from the same quarter a year earlier. Against the prior quarter it is up 25.8%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

40.7%

YoY-0.6pp

ClearSign Technologies Corporation's gross margin was 40.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier.

Return on Equity

-13.3%

YoY+2.8pp

QoQ+15.4pp

5Y change+6.2pp

10Y change+17.2pp

ClearSign Technologies Corporation's ROE was -13.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.4 percentage points.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending

$448K

YoY+81.4%

QoQ+79.9%

ClearSign Technologies Corporation invested $448K in research and development in Q2 2026. This represents an increase of 81.4% from the same quarter a year earlier. Against the prior quarter it is up 79.9%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

CLIR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CLIR quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$5.5M	$5.2M+45.6%	$3.6M+49.6%	$2.4M+542.5%	$374K-38.4%	$607K	$0	$0-100.0%	$530K-1.9%	$540K-13.0%	$621K+918.0%	$61K	$0	N/A	N/A	N/A
Cost of Revenue	N/A	$3.8M+53.8%	$2.5M+56.2%	$1.6M+514.7%	$258K-75.6%	$1.1M+279.6%	$279K+27800.0%	$1K-99.8%	$427K+12.4%	$380K-21.6%	$485K+870.0%	$50K	$0	N/A	N/A	N/A
Gross Profit	$1.0M	$1.4M+27.4%	$1.1M+36.8%	$817K+604.3%	$116K+125.7%	-$452K-62.0%	-$279K-27800.0%	-$1K-101.0%	$103K-35.6%	$160K+17.6%	$136K+1136.4%	$11K	$0-100.0%	$5K	$0	N/A
R&D Expenses	N/A	$1.4M-3.3%	$1.5M+99.1%	$739K+46.3%	$505K-81.2%	$2.7M+32.1%	$2.0M-33.6%	$3.1M-24.6%	$4.1M-14.0%	$4.7M-2.5%	$4.8M+64.8%	$2.9M+32.3%	$2.2M+19.8%	$1.9M+56.3%	$1.2M+155.7%	$463K
SG&A Expenses	N/A	$6.7M+8.8%	$6.1M+1.3%	$6.1M+5.8%	$5.7M+14.3%	$5.0M+8.4%	$4.6M-16.3%	$5.5M-1.7%	$5.6M+9.0%	$5.2M-20.7%	$6.5M+29.7%	$5.0M-1.2%	$5.1M+47.4%	$3.5M+14.0%	$3.0M+20.3%	$2.5M
Operating Income	N/A	-$6.7M-2.8%	-$6.5M-8.5%	-$6.0M+2.2%	-$6.1M+24.9%	-$8.1M-17.5%	-$6.9M+19.2%	-$8.6M+10.3%	-$9.6M+1.5%	-$9.7M+13.3%	-$11.2M-41.1%	-$7.9M-8.8%	-$7.3M-37.9%	-$5.3M-25.8%	-$4.2M-41.3%	-$3.0M
EBITDA	N/A	-$6.5M-2.9%	-$6.3M-10.9%	-$5.7M+4.6%	-$6.0M+24.5%	-$7.9M-17.3%	-$6.7M+19.4%	-$8.3M+10.3%	-$9.3M+1.2%	-$9.4M+14.4%	-$11.0M-42.0%	-$7.7M-9.7%	-$7.1M-38.7%	-$5.1M-23.7%	-$4.1M-39.3%	-$3.0M
Interest Expense	N/A	N/A	N/A	$324K+290.4%	$83K+8200.0%	$1K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$1K	$0
Income Tax	N/A	$0	$0	$0	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$5.2M	-$5.5M-3.7%	-$5.3M-2.0%	-$5.2M+9.8%	-$5.8M+27.0%	-$7.9M-14.6%	-$6.9M+18.8%	-$8.5M+10.7%	-$9.5M+1.9%	-$9.7M+13.4%	-$11.2M-41.5%	-$7.9M-8.3%	-$7.3M-38.1%	-$5.3M-26.2%	-$4.2M-40.8%	-$3.0M
EPS (Basic)	N/A	-$0.99+8.3%	-$1.08-730.8%	-$0.13+18.8%	-$0.16+36.0%	-$0.25	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	-$0.99+8.3%	-$1.08	-$0.13+18.8%	-$0.16+36.0%	-$0.25	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	6M+13.4%	5M	39M+8.9%	35M+13.2%	31M+1033.3%	3M+24.6%	2M-34.5%	3M-3.3%	3M+162.7%	1M+3.1%	1M+6.6%	1M+8.9%	1M+20.5%	920,743+59.9%	575,743

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Revenue	$560K+321.1%	$191K-52.4%	$3.7M+522.2%	$1.0M-44.6%	$133K+195.6%	$401K-63.6%	$590K-53.7%	$1.9M+2087.1%
Cost of Revenue	$332K+325.6%	$584K+184.9%	N/A	$661K-49.5%	$78K+2500.0%	$205K-69.2%	N/A	$1.3M+2044.3%
Gross Profit	$228K+314.5%	-$393K-300.5%	$805K+814.8%	$368K-33.2%	$55K+31.0%	$196K-55.1%	$88K-84.2%	$551K+2195.8%
R&D Expenses	$448K+81.4%	$249K-44.3%	N/A	$310K-5.8%	$247K-38.6%	$447K+59.1%	N/A	$329K+253.8%
SG&A Expenses	$1.3M-22.4%	$1.6M-18.4%	N/A	$1.8M+9.2%	$1.6M-7.4%	$2.0M+42.5%	N/A	$1.7M+15.9%
Operating Income	-$1.5M+18.5%	-$2.3M-1.0%	N/A	-$1.8M-22.1%	-$1.8M+14.0%	-$2.3M-80.3%	N/A	-$1.4M+4.3%
EBITDA	-$1.5M+18.3%	-$2.2M-1.2%	N/A	-$1.7M-22.8%	-$1.8M+14.5%	-$2.2M-83.1%	N/A	-$1.4M+2.7%
Net Income	-$1.3M+22.2%	-$2.2M-5.5%	-$311K+73.3%	-$1.4M-23.7%	-$1.7M+10.3%	-$2.1M-87.4%	-$1.2M-21.9%	-$1.2M+13.3%
EPS (Basic)	-$0.22+26.7%	-$0.39-2.6%	-$0.06+76.0%	-$0.26-30.0%	-$0.30+25.0%	-$0.38-26.7%	-$0.25-1150.0%	-$0.20-566.7%
EPS (Diluted)	-$0.22+26.7%	-$0.39	-$0.06+76.0%	-$0.26-30.0%	-$0.30+25.0%	-$0.38-26.7%	-$0.25	-$0.20
Diluted Shares (Avg)	6M+7.4%	6M	N/A	N/A	6M-88.3%	5M-85.8%	N/A	N/A

Not reported in any period shown, so not listed: Interest Expense, Income Tax.

CLIR Balance Sheet

CLIR quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$12.2M-25.2%	$16.3M+113.7%	$7.6M-30.3%	$10.9M+16.7%	$9.4M-15.8%	$11.1M+1.6%	$10.9M-41.3%	$18.6M+347.9%	$4.2M-2.9%	$4.3M-69.8%	$14.2M+208.8%	$4.6M-2.2%	$4.7M-48.4%	$9.1M+457.2%	$1.6M
Current Assets	$11.2M-26.2%	$15.2M+133.8%	$6.5M-33.1%	$9.7M+21.3%	$8.0M-14.5%	$9.4M+4.5%	$9.0M-45.3%	$16.4M+813.2%	$1.8M-5.3%	$1.9M-83.0%	$11.2M+472.6%	$2.0M-30.4%	$2.8M-65.3%	$8.1M+491.6%	$1.4M
Cash & Equivalents	$9.2M-34.6%	$14.0M+146.9%	$5.7M-11.9%	$6.5M-15.2%	$7.6M-13.8%	$8.8M+3.2%	$8.6M-4.4%	$8.9M+617.6%	$1.2M-1.0%	$1.3M-88.5%	$11.0M+495.4%	$1.8M-31.4%	$2.7M-66.5%	$8.0M+763.1%	$930K
Short-Term Investments	$0	$0	$0-100.0%	$2.6M	$0	$0	$0-100.0%	$6.9M	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$1.4M+724.2%	$165K-42.5%	$287K+263.3%	$79K+139.4%	$33K	N/A	N/A	N/A	$0-100.0%	$103K	$0	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.7M+5.2%	$2.5M+3.8%	$2.4M+76.8%	$1.4M+27.0%	$1.1M-31.6%	$1.6M-7.9%	$1.7M-0.7%	$1.7M-0.1%	$1.7M-15.3%	$2.0M+25.7%	$1.6M-1.0%	$1.6M+79.4%	$914K+90.8%	$479K-37.1%	$762K
Current Liabilities	$2.6M+7.4%	$2.4M+6.7%	$2.3M+96.7%	$1.1M+56.9%	$731K-32.3%	$1.1M-16.8%	$1.3M-20.7%	$1.6M+6.7%	$1.5M-9.2%	$1.7M+4.0%	$1.6M+31.5%	$1.2M+39.9%	$883K+98.9%	$444K-40.3%	$744K
Non-Current Liabilities	$67K-40.7%	$113K-34.3%	$172K-23.9%	$226K-35.4%	$350K-30.0%	$500K+19.6%	$418K+359.3%	$91K-53.3%	$195K-44.8%	$353K	$0-100.0%	$405K+1206.5%	$31K-11.4%	$35K+94.4%	$18K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$251K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$9.5M-30.8%	$13.8M+165.1%	$5.2M-45.6%	$9.6M+15.3%	$8.3M-13.2%	$9.5M+3.4%	$9.2M-45.5%	$16.9M+595.3%	$2.4M+8.4%	$2.2M-82.2%	$12.6M+325.1%	$3.0M-21.9%	$3.8M-56.1%	$8.6M+888.1%	$874K
Retained Earnings	-$104.5M-5.6%	-$99.0M-5.7%	-$93.7M-5.9%	-$88.5M-7.0%	-$82.8M-10.5%	-$74.9M-10.1%	-$68.0M-14.2%	-$59.5M-19.0%	-$50.0M-24.0%	-$40.3M-38.3%	-$29.2M-37.1%	-$21.3M	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Total Assets	$12.2M-14.3%	$9.8M-32.3%	$12.2M-25.2%	$12.7M-25.4%	$14.2M-20.2%	$14.5M+119.5%	$16.3M+113.7%	$17.1M+90.0%
Current Assets	$11.2M-15.1%	$8.8M-34.9%	$11.2M-26.2%	$11.7M-26.6%	$13.2M-21.1%	$13.5M+143.5%	$15.2M+133.8%	$16.0M+104.7%
Cash & Equivalents	$9.9M-19.9%	$7.7M-39.9%	$9.2M-34.6%	$10.5M-27.6%	$12.3M-22.8%	$12.9M+178.2%	$14.0M+146.9%	$14.5M+100.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$234K+836.0%	$171K+26.7%	$1.4M+724.2%	$324K-56.7%	$25K-81.5%	$135K-76.3%	$165K-42.5%	$749K+760.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.4M-38.3%	$2.2M-11.3%	$2.7M+5.2%	$3.7M+61.6%	$3.8M+96.9%	$2.5M+15.5%	$2.5M+3.8%	$2.3M-25.6%
Current Liabilities	$2.3M-36.8%	$2.2M-9.4%	$2.6M+7.4%	$3.6M+67.0%	$3.7M+106.1%	$2.4M+19.7%	$2.4M+6.7%	$2.1M-25.2%
Non-Current Liabilities	$17K-85.2%	$42K-57.1%	$67K-40.7%	$91K-28.9%	$115K-19.6%	$98K-37.6%	$113K-34.3%	$128K-31.2%
Total Equity	$9.8M-5.6%	$7.6M-36.7%	$9.5M-30.8%	$9.1M-38.8%	$10.4M-34.5%	$12.0M+169.9%	$13.8M+165.1%	$14.8M+149.3%
Retained Earnings	-$108.0M-5.1%	-$106.7M-5.5%	-$104.5M-5.6%	-$104.2M-6.5%	-$102.8M-6.3%	-$101.1M-6.6%	-$99.0M-5.7%	-$97.9M-5.5%

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

CLIR Cash Flow Statement

CLIR quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$5.7M	-$4.7M-8.3%	-$4.4M-35.3%	-$3.2M+35.2%	-$5.0M+25.6%	-$6.7M-12.5%	-$6.0M+13.6%	-$6.9M+17.7%	-$8.4M-1.5%	-$8.3M+4.8%	-$8.7M-38.5%	-$6.3M-14.5%	-$5.5M-27.3%	-$4.3M-34.8%	-$3.2M-88.9%	-$1.7M
Depreciation & Amortization	N/A	$189K+1.6%	$186K-37.8%	$299K+85.7%	$161K-38.1%	$260K+23.8%	$210K-12.5%	$240K-11.4%	$271K-8.8%	$297K+42.8%	$208K+4.0%	$200K-17.7%	$243K+16.3%	$209K+111.1%	$99K+253.6%	$28K
Stock-Based Compensation	N/A	$893K+69.1%	$528K-14.0%	$614K+64.6%	$373K-45.1%	$680K-15.0%	$800K+16.8%	$685K+205.8%	$224K-39.3%	$369K-42.8%	$645K-19.1%	$797K+118.4%	$365K+150.0%	$146K+8.1%	$135K-27.8%	$187K
Capital Expenditures	N/A	$4K-89.7%	$39K	N/A	$10K-86.3%	$73K+329.4%	$17K-15.0%	$20K-78.7%	$94K0.0%	$94K-31.4%	$137K+179.6%	$49K-37.2%	$78K-66.9%	$236K-30.0%	$337K+157.3%	$131K
Free Cash Flow	N/A	-$4.7M-7.4%	-$4.4M	N/A	-$5.0M+26.2%	-$6.8M-13.4%	-$6.0M+13.6%	-$6.9M+18.4%	-$8.5M-1.5%	-$8.4M+5.2%	-$8.8M-39.6%	-$6.3M-13.8%	-$5.5M-22.4%	-$4.5M-28.6%	-$3.5M-93.8%	-$1.8M
Investing Cash Flow	-$133K	-$101K+53.7%	-$218K-108.8%	$2.5M+192.7%	-$2.7M-1161.0%	-$213K-9.8%	-$194K-103.0%	$6.5M+187.6%	-$7.4M-1663.7%	-$421K+60.1%	-$1.1M	N/A	N/A	N/A	-$868K-298.2%	-$218K
Financing Cash Flow	$3.4M	-$21K-100.2%	$12.9M+86406.7%	-$15K-100.2%	$6.5M+14.8%	$5.7M-11.4%	$6.4M	$0-100.0%	$23.5M+171.3%	$8.7M	$0	N/A	N/A	N/A	$11.2M+293.3%	$2.8M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Operating Cash Flow	-$1.2M-141.9%	-$1.3M-21.3%	-$1.3M-209.2%	-$1.8M-27.8%	-$511K+66.5%	-$1.1M-11.0%	-$415K+71.4%	-$1.4M-12.4%
Depreciation & Amortization	$38K-24.0%	$43K-8.5%	$44K-8.3%	$48K+2.1%	$50K+8.7%	$47K+4.4%	$48K-29.4%	$47K-35.6%
Stock-Based Compensation	N/A	$76K+68.9%	N/A	N/A	N/A	$45K-11.8%	N/A	$27K+80.0%
Capital Expenditures	N/A	N/A	$0-100.0%	$0	$0	$4K	$21K	$0
Free Cash Flow	N/A	N/A	-$1.3M-194.3%	-$1.8M-27.8%	-$511K	-$1.1M	-$436K	-$1.4M
Investing Cash Flow	-$25K-56.3%	-$64K-56.1%	-$23K+43.9%	-$21K+65.0%	-$16K+80.7%	-$41K-20.6%	-$41K+61.0%	-$60K-106.6%
Financing Cash Flow	$3.4M	-$32K-88.2%	-$4K-140.0%	$0	$0-100.0%	-$17K+22.7%	$10K	$0

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

CLIR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

CLIR quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	27.2%-3.9pp	31.1%-2.9pp	34.0%+3.0pp	31.0%+105.5pp	-74.5%	N/A	N/A	19.4%-10.2pp	29.6%+7.7pp	21.9%+3.9pp	18.0%	N/A	N/A	N/A	N/A
Operating Margin	-127.5%	-180.4%	-248.9%	-1635.6%	-1341.8%	N/A	N/A	-1805.8%	-1798.5%	-1804.4%	-13019.7%	N/A	N/A	N/A	N/A
Net Margin	-105.0%	-147.4%	-216.2%	-1539.6%	-1300.0%	N/A	N/A	-1792.4%	-1792.6%	-1799.2%	-12947.5%	N/A	N/A	N/A	N/A
Return on Equity	-57.7%-19.2pp	-38.5%+61.5pp	-100.0%-39.8pp	-60.3%+35.0pp	-95.3%-23.1pp	-72.2%+19.8pp	-91.9%-35.8pp	-56.2%+341.9pp	-398.0%+99.9pp	-497.9%-435.1pp	-62.8%+183.8pp	-246.6%-107.0pp	-139.5%-91.0pp	-48.5%+292.0pp	-340.5%
Return on Assets	-45.1%-12.6pp	-32.5%+35.6pp	-68.2%-15.5pp	-52.7%+31.6pp	-84.3%-22.4pp	-61.9%+15.6pp	-77.5%-26.5pp	-51.0%+181.7pp	-232.6%+28.0pp	-260.7%-205.1pp	-55.6%+103.0pp	-158.6%-46.2pp	-112.4%-66.4pp	-46.0%+135.9pp	-181.9%
Current Ratio	4.34-2.0x	6.32+3.4x	2.89-5.6x	8.49-2.5x	10.98+2.3x	8.69+1.8x	6.92-3.1x	10.03+8.9x	1.170.0x	1.12-5.8x	6.89+5.3x	1.58-1.6x	3.18-15.0x	18.21+16.4x	1.84
Debt-to-Equity	0.28+0.1x	0.18-0.3x	0.47+0.3x	0.140.0x	0.13+0.1x	0.030.0x	0.00-0.1x	0.10-0.6x	0.71-0.2x	0.91+0.8x	0.13-0.4x	0.55+0.3x	0.24+0.2x	0.06-0.8x	0.87
Asset Turnover	0.43+0.2x	0.22-0.1x	0.32+0.3x	0.030.0x	0.06+0.1x	0.000.0x	0.000.0x	0.03-0.1x	0.130.0x	0.14+0.1x	0.000.0x	0.00	N/A	N/A	N/A
FCF Margin	-90.6%	-122.7%	N/A	-1337.4%	-1117.0%	N/A	N/A	-1599.6%	-1546.7%	-1418.5%	-10344.3%	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-K	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-K
Gross Margin	40.7%-0.6pp	-205.8%	21.9%+7.0pp	35.8%+6.1pp	41.3%-52.0pp	48.9%+9.2pp	14.9%-28.9pp	29.6%+1.4pp
Operating Margin	-267.5%	-1193.2%	N/A	-170.1%	-1382.0%	-562.8%	N/A	-77.1%
Net Margin	-233.4%	-1146.6%	-8.5%	-138.9%	-1263.2%	-517.7%	-197.3%	-62.1%
Return on Equity	-13.3%+2.8pp	-28.7%-11.5pp	-3.3%+5.2pp	-15.7%-8.0pp	-16.1%-4.3pp	-17.2%+7.6pp	-8.5%+9.9pp	-7.8%+14.6pp
Return on Assets	-10.7%+1.1pp	-22.3%-8.0pp	-2.5%+4.6pp	-11.2%-4.5pp	-11.8%-1.3pp	-14.3%+2.5pp	-7.1%+5.4pp	-6.8%+8.0pp
Current Ratio	4.78+1.2x	4.05-1.6x	4.34-2.0x	3.28-4.2x	3.56-5.7x	5.63+2.9x	6.32+3.4x	7.46+4.7x
Debt-to-Equity	0.24-0.1x	0.29+0.1x	0.28+0.1x	0.40+0.3x	0.37+0.2x	0.21-0.3x	0.18-0.3x	0.15-0.4x
Asset Turnover	0.050.0x	0.020.0x	0.30+0.3x	0.080.0x	0.010.0x	0.03-0.1x	0.04-0.1x	0.11+0.1x
FCF Margin	N/A	N/A	-34.9%+39.0pp	-177.9%	-384.2%	-278.1%	-73.9%	-77.1%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ClearSign Technologies Corporation CLIR	FY2025	$5.2M	-$5.5M	N/A	$23.9M	62/100
LiqTech International, Inc. LIQT	FY2025	$16.5M	-$8.5M	-51.7%	$17.2M	30/100
TOMI Environmental Solutions, Inc. TOMZ	FY2025	$5.6M	-$3.7M	-66.5%	$11.2M	33/100
Euro Tech Holdings Co Ltd. New CLWT	FY2025	$13.3M	$167K	1.3%	$9.9M	34/100
DevvStream Corp. DEVS	FY2025	$26K	-$12.1M	N/A	$5.4M	—
Zone Frontier Inc. ZONE	FY2026	$3.4M	-$174.2M	N/A	$64.5M	35/100

Where ClearSign Technologies Corporation Ranks

Frequently Asked Questions

What is ClearSign Technologies Corporation's annual revenue?

ClearSign Technologies Corporation (CLIR) reported $5.2M in total revenue for fiscal year 2025. This represents a 45.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ClearSign Technologies Corporation's revenue growing?

ClearSign Technologies Corporation (CLIR) revenue grew by 45.6% year-over-year, from $3.6M to $5.2M in fiscal year 2025.

Is ClearSign Technologies Corporation profitable?

No, ClearSign Technologies Corporation (CLIR) reported a net income of -$5.5M in fiscal year 2025.

What is ClearSign Technologies Corporation's EBITDA?

ClearSign Technologies Corporation (CLIR) had EBITDA of -$6.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is ClearSign Technologies Corporation's gross margin?

ClearSign Technologies Corporation (CLIR) had a gross margin of 27.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ClearSign Technologies Corporation's return on equity (ROE)?

ClearSign Technologies Corporation (CLIR) has a return on equity of -57.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ClearSign Technologies Corporation's free cash flow?

ClearSign Technologies Corporation (CLIR) recorded an outflow of $4.7M in free cash flow during fiscal year 2025. This represents a -7.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ClearSign Technologies Corporation's operating cash flow?

ClearSign Technologies Corporation (CLIR) recorded an outflow of $4.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are ClearSign Technologies Corporation's total assets?

ClearSign Technologies Corporation (CLIR) had $12.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are ClearSign Technologies Corporation's capital expenditures?

ClearSign Technologies Corporation (CLIR) invested $4K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does ClearSign Technologies Corporation spend on research and development?

ClearSign Technologies Corporation (CLIR) invested $1.4M in research and development during fiscal year 2025.

How many shares does ClearSign Technologies Corporation have outstanding?

ClearSign Technologies Corporation (CLIR) had 5M shares outstanding as of fiscal year 2025.

What is ClearSign Technologies Corporation's current ratio?

ClearSign Technologies Corporation (CLIR) had a current ratio of 4.34 as of fiscal year 2025, which is generally considered healthy.

What is ClearSign Technologies Corporation's debt-to-equity ratio?

ClearSign Technologies Corporation (CLIR) had a debt-to-equity ratio of 0.28 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ClearSign Technologies Corporation's return on assets (ROA)?

ClearSign Technologies Corporation (CLIR) had a return on assets of -45.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ClearSign Technologies Corporation's P/E ratio?

ClearSign Technologies Corporation (CLIR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $23.9M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ClearSign Technologies Corporation's price-to-sales ratio?

ClearSign Technologies Corporation (CLIR) trades at 4.4x sales, its market capitalization divided by revenue of $5.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $23.9M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does ClearSign Technologies Corporation's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, ClearSign Technologies Corporation (CLIR) held $9.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $4.7M over that year. Dividing the one by the other, the reported balance equals about 23 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is ClearSign Technologies Corporation's Altman Z-Score?

ClearSign Technologies Corporation (CLIR) has an Altman Z-Score of -7.13, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ClearSign Technologies Corporation's Piotroski F-Score?

ClearSign Technologies Corporation (CLIR) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ClearSign Technologies Corporation's earnings high quality?

ClearSign Technologies Corporation (CLIR) reported a net loss of $5.5M while operations used $4.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is ClearSign Technologies Corporation?

ClearSign Technologies Corporation (CLIR) scores 62 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.