ClearSign Technologies Corporation Provides Third Quarter 2025 Update
Rhea-AI Summary
ClearSign Technologies (Nasdaq:CLIR) provided a Q3 2025 operational update announcing multiple commercial engineering and burner orders and a testing engagement supporting 100% hydrogen capability.
Key items: two ClearSign Core M25 orders (deliver Q1 2026), a fourth low-emission flare retrofit order (install Q2 2026), a 32-burner CFD/engineering order from a global supermajor (phased rollout), a 36-burner engineering order for a Texas refinery (phased rollout), and a comprehensive 100% hydrogen-capable burner test due Q4 2025. Cash and cash equivalents were $10.5 million and shares outstanding were 52,517,048 as of September 30, 2025.
Positive
- Received two ClearSign Core M25 orders; delivery expected Q1 2026
- Secured fourth low-emission flare burner order; installation planned Q2 2026
- Initial 32-burner CFD and engineering order from a global supermajor
- Received 36-burner initial engineering order for U.S. Gulf Coast refinery
- Order for comprehensive 100% hydrogen-capable burner testing; results due Q4 2025
Negative
- None.
News Market Reaction 2 Alerts
On the day this news was published, CLIR declined 4.46%, reflecting a moderate negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $46M at that time.
Data tracked by StockTitan Argus on the day of publication.
TULSA, OKLAHOMA / ACCESS Newswire / November 19, 2025 / ClearSign Technologies Corporation (Nasdaq:CLIR) ("ClearSign" or the "Company"), a leader in advanced combustion and sensing technologies that help industrial operators dramatically reduce emissions, increase efficiency and safety, and support the use of cleaner fuels including hydrogen, today provides an update on operations for the quarter ended September 30, 2025.
"We are very encouraged by the recent uptick in order flow and we believe it reflects growing market acceptance of ClearSign's technologies. This gives us confidence that our strategy of product line expansion and channel partner engagement is gaining traction," said Jim Deller, Ph.D., Chief Executive Officer of ClearSign. "In addition, we believe that our focus on strategic product development has opened the door to new markets, as demonstrated by the 'M' series, and we anticipate that our innovations in core process burners with
Strategic and Operational Highlights
Recent strategic and operational highlights including, and subsequent to, the third quarter of 2025:
Received Two Separate ClearSign Core(TM) "M" Series Burner Orders from Heater Manufacturer Devco Process Heaters: Both orders are for the new ClearSign Core™ M25. One of these orders is slated for installation in a hot oil heater at a New Mexico gas processing facility and the other will be installed as a retrofit in an existing hot oil heater at a gas processing facility of a multinational energy company in West Texas. The Company expects to deliver both burners in the first quarter of 2026.
Received Order for Fourth Low-Emission Flare Burner from Leading Energy Producer in California: The fourth burner order from a major energy producer in California covers engineering and design work for the retrofit of an enclosed flare at a production facility in California's San Joaquin Valley, which is scheduled for installation in the second quarter of 2026. The scope of this order includes upgraded flare structure components and control systems, expanding ClearSign's engagement beyond burner technology to include broader emissions and system integration solutions.
Received a 32-Burner Engineering Order from Global Supermajor: The Company received the initial computational fluid dynamic ("CFD") analysis and engineering order from a supermajor refiner as the first phase of a process heater retrofit for a total of 32 ClearSign Core™ burners to be installed in one of its California refineries. The initial CFD analysis and engineering order was received directly from the customer for burners to be installed in two heaters in the supermajor refiner's California facility. The Company expects the project to commence imminently and be rolled out in phases.
Received Order for Comprehensive Testing of
Received Engineering Order for a 36 Process Burner Heater at a Texas Refinery: The Company received the initial engineering order from an integrated petroleum producer as the first phase of a process heater retrofit for a total of 36 ClearSign Core™ burners to be installed in their U.S. Gulf Coast refinery. The engineering order was received directly from the petroleum company. The proposed project is for installation in their U.S. Gulf Coast facility in Texas. The Company expects the project to be rolled out in phases.
Financial Information
Cash and cash equivalents were approximately
There were 52,517,048 shares of the Company's common stock issued and outstanding as of September 30, 2025.
Conference Call
The Company will be hosting a call at 5:00 PM ET today. Investors interested in participating on the live call can dial 1-888-506-0062 within the U.S. or 1-973-528-0011 from abroad, both using Participant Access Code: 919913. Investors can also access the call online through a listen-only webcast at https://www.webcaster5.com/Webcast/Page/3133/53170 or on the investor relations section of the Company's website at http://ir.clearsign.com/overview.
The Company will host a Q&A session during the call and investors wishing to submit a question ahead of time can do so by emailing questions to mselinger@firmirgroup.com.
The webcast will be archived on the Company's investor relations website for at least 90 days and a telephonic playback of the conference call will be available by calling 877-481-4010 within the U.S. or 919-882-2331 from abroad using Replay Passcode #53170. The telephonic playback will be available for 7 days after the conference call.
About ClearSign Technologies Corporation
ClearSign Technologies Corporation designs and develops products and technologies for the purpose of decarbonization and improving key performance characteristics of industrial and commercial systems, including operational performance, energy efficiency, emission reduction, safety, the use of hydrogen as a fuel and overall cost-effectiveness. Our patented technologies, embedded in established OEM products as ClearSign Core™ and ClearSign Eye™ and other sensing configurations, enhance the performance of combustion systems and fuel safety systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), commercial/industrial boiler, chemical, petrochemical, transport and power industries. For more information, please visit www.clearsign.com.
Cautionary Note on Forward-Looking Statements
All statements in this press release that are not based on historical fact are "forward-looking statements." You can find many (but not all) of these statements by looking for words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "would," "should," "could," "may," "will" or other similar expressions. While management has based any forward-looking statements included in this press release on its current expectations on the Company's strategy, plans, intentions, performance, or future occurrences or results, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company's control, that could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, the Company's ability to successfully deliver, install, and meet the performance obligations of the Company's burners, sensors, flares and any other products it may offer from time to time in the markets it operate in, and any other markets the Company may sell products in; the performance of the Company's products, including its ultra-low NOx burner and the related fuel and electricity savings; the Company's ability to timely fabricate and ship its burners, sensors, flares and any other products or technologies it may offer from time to time; the Company's ability to further expand the sale of ultra-low NOx process and boiler burners; the Company's ability to expand its sales of flaring solutions; the Company's and Zeeco's ability to successfully market the co-branded process burner line with Zeeco; the Company's ability to diversify its product offerings through different applications of its technologies and core competencies; the Company's ability to successfully perform engineering and computer modeling orders; the Company's ability to generate sales and purchase orders from its engineering and computer modeling orders; the Company's ability to successfully develop the
For further information:
Investor Relations:
Matthew Selinger
Firm IR Group for ClearSign
+1 415-572-8152
mselinger@firmirgroup.com
ClearSign Technologies Corporation and Subsidiary
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands, except share and per share data) | September 30, | December 31, | ||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash and cash equivalents | $ | 10,488 | $ | 14,035 | ||||
Accounts receivable | 324 | 165 | ||||||
Contract assets | 514 | 194 | ||||||
Prepaid expenses and other assets | 420 | 454 | ||||||
Total current assets | 11,746 | 14,848 | ||||||
Fixed assets, net | 223 | 238 | ||||||
Patents and other intangible assets, net | 778 | 830 | ||||||
Total Assets | $ | 12,747 | $ | 15,916 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current Liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 1,983 | $ | 1,220 | ||||
Current portion of lease liabilities | 94 | 75 | ||||||
Accrued compensation and related taxes | 353 | 671 | ||||||
Contract liabilities | 1,148 | 73 | ||||||
Total current liabilities | 3,578 | 2,039 | ||||||
Long Term Liabilities: | ||||||||
Long term lease liabilities | 91 | 113 | ||||||
Total liabilities | 3,669 | 2,152 | ||||||
Commitments and contingencies (Note 9) | ||||||||
Stockholders' Equity: | ||||||||
Preferred stock, | - | - | ||||||
Common stock, | 5 | 5 | ||||||
Additional paid-in capital | 113,294 | 112,796 | ||||||
Accumulated other comprehensive loss | (20 | ) | (21 | ) | ||||
Accumulated deficit | (104,201 | ) | (99,016 | ) | ||||
Total stockholders' equity | 9,078 | 13,764 | ||||||
$ | 12,747 | $ | 15,916 | |||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
ClearSign Technologies Corporation and Subsidiary
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
(in thousands, except share and per share data) | For the Three Months Ended | For the Nine Months Ended | ||||||||||||||
September 30, | September 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenues | $ | 1,029 | $ | 1,859 | $ | 1,563 | $ | 3,006 | ||||||||
Cost of goods sold | 661 | 1,308 | 944 | 1,976 | ||||||||||||
Gross profit | 368 | 551 | 619 | 1,030 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 310 | 329 | 1,004 | 1,012 | ||||||||||||
General and administrative | 1,808 | 1,655 | 5,460 | 4,840 | ||||||||||||
Total operating expenses | 2,118 | 1,984 | 6,464 | 5,852 | ||||||||||||
Loss from operations | (1,750 | ) | (1,433 | ) | (5,845 | ) | (4,822 | ) | ||||||||
Other income, net: | ||||||||||||||||
Interest income | 105 | 146 | 353 | 284 | ||||||||||||
Government assistance | 216 | 131 | 307 | 395 | ||||||||||||
Other income, net | - | 1 | - | 8 | ||||||||||||
Total other income, net | 321 | 278 | 660 | 687 | ||||||||||||
Net loss | $ | (1,429 | ) | $ | (1,155 | ) | $ | (5,185 | ) | $ | (4,135 | ) | ||||
Net loss per share - basic and fully diluted | $ | (0.03 | ) | $ | (0.02 | ) | $ | (0.09 | ) | $ | (0.09 | ) | ||||
Weighted average number of shares outstanding - basic and fully diluted | 55,744,062 | 54,714,910 | 55,322,077 | 46,986,914 | ||||||||||||
Comprehensive loss: | ||||||||||||||||
Net loss | $ | (1,429 | ) | $ | (1,155 | ) | $ | (5,185 | ) | $ | (4,135 | ) | ||||
Foreign-exchange translation adjustments | 1 | 5 | 1 | 1 | ||||||||||||
Comprehensive loss | $ | (1,428 | ) | $ | (1,150 | ) | $ | (5,184 | ) | $ | (4,134 | ) | ||||
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
SOURCE: ClearSign Technologies
View the original press release on ACCESS Newswire
FAQ
What recent orders did ClearSign (CLIR) announce on November 19, 2025?
When does ClearSign expect delivery or installation for the M25 and flare orders (CLIR)?
How much cash did ClearSign (CLIR) report as of September 30, 2025?
What is the scope of the supermajor refinery engagement announced by ClearSign (CLIR)?
What is the timeline for ClearSign's 100% hydrogen-capable burner testing (CLIR)?
How many shares of ClearSign (CLIR) were outstanding as of September 30, 2025?
