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what it is
ClearSign sells burner and flame-sensing tech for industrial systems that aim to burn fuel cleaner and waste less.
how it gets paid
Last year Clearsign Tech made $4M in revenue. ClearSign Core Burner Technology was the main engine at $0.40M, or 40% of sales.
what just happened
The quarter brought in $138K in revenue, and EPS landed at -$0.07.
At a glance
C++ balance sheet — some cracks in the foundation
80/100 earnings predictability — you can trust these numbers
-$0.11 fy2024 eps est
$4M fy2024 rev est
1.4 beta
xvary composite: 34/100 — weak
What they do
ClearSign sells burner and flame-sensing tech for industrial systems that aim to burn fuel cleaner and waste less.
You are not buying a giant plant maker. You are buying 18 employees and a small set of industrial tools that sit inside existing systems. That makes leaving painful when the equipment already works.
How they make money
$4M
annual revenue
ClearSign Core Burner Technology
$0.40M
ClearSign Core Plug & Play technology
$0.25M
ClearSign Eye Flame Sensor
$0.15M
ClearSign Core Boiler Burner
$0.10M
ClearSign Core Flaring Burners
$0.10M
The products that matter
industrial combustion systems
core burner technology
$3.2M · 80% of revenue
this is the commercial product line, and it accounts for $3.2M of the company's $4M revenue base. if adoption does not widen from here, the rest of the story does not matter.
main revenue source
engineering and development work
r&d contracts & services
$0.8M · 20% of revenue
this brought in $0.8M. it helps fund operations, but at 20% of revenue it is support revenue, not proof that commercial demand has scaled.
supporting revenue
Key numbers
$1.0M
TTM sales
You are looking at about $1M of yearly sales against a $23M market cap. The gap is the story.
$0M
debt
Zero long-term debt means no lender is sitting on your throat.
5
risk rank
A 5 is the riskiest spot in the grid. For you, that means bigger swings and less room for error.
1.4
beta
A 1.4 beta means the stock tends to move about 40% more than the market.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $0M (0% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for CLIR right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The quarter brought in $138K in revenue, and EPS landed at -$0.07.
Revenue was up 79% vs. prior year, but the base is still tiny. Gross margin was n/a on $138K of sales, which is what tiny numbers and odd accounting can do.
$138K
revenue
-$0.07
eps
n/a
gross margin
the number that mattered
Revenue at $138K mattered most because it is still far below the $4M FY2024 sales estimate.
source: company earnings report
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What could go wrong
the #1 risk is commercial adoption arriving too slowly for the $10.5M cash balance.
high
cash burn outruns customer wins
The company burned $1.8M in free cash flow in the latest quarter. Against $10.5M in cash, that implies roughly six quarters of runway if spending and revenue stay close to current levels.
Cash is the asset. Time is the liability.
high
industrial buyers can wait longer than CLIR can
ClearSign sells into large industrial accounts with long testing and purchasing cycles. That is a problem when the whole company is valued at $23M and annual revenue is only $4M.
A slow sales cycle can kill a good technology just as effectively as a bad one.
med
revenue is too small to read cleanly
Management can post 50.0% growth on a $4M base and still not have a business that scales. At this size, one project can make the growth rate look healthy while the economics stay fragile.
Big percentages on tiny dollars are how investors talk themselves into scale that is not there yet.
med
equity dilution is the obvious backup plan
The company has no long-term debt, which helps. But if commercial progress stays slow, fresh capital would likely come from issuing more shares rather than from borrowing.
That keeps the company alive, but it can shrink your slice of any eventual upside.
At the recent $1.8M quarterly burn rate, the current $10.5M cash balance covers roughly six quarters. If major commercial wins do not show up before then, financing risk moves from theory to timetable.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
quarterly cash burn
$1.8M was the recent free cash outflow. If that number stays close to current levels while revenue stays tiny, the runway math gets ugly fast.
trend
whether product sales keep leading the mix
Product sales and royalties were $3.2M versus $0.8M from r&d contracts and services. You want commercial revenue growing, not support work doing the cosmetic lifting.
risk
real contract announcements
This company is too small for vague pipeline language to matter. A real customer win should show up in revenue visibility, not just optimistic commentary.
calendar
the next few quarters
At roughly six quarters of runway using the recent burn rate, timing matters more than long-range market-size slides. You are watching the clock as much as the technology.
Analyst rankings
earnings predictability
80 / 100
in human-speak, the losses and revenue pattern have been fairly consistent. Predictable does not mean good. It means the struggle is visible.
risk rank
5
risk rank: 5. That means this scores safer than only 5% of stocks in the dataset. You are not buying stability here.
price stability
5 / 100
price stability: 5 out of 100. The chart behaves like a micro-cap speculation vehicle, because that is exactly what this is.
source: institutional data
Institutional activity
institutional ownership data for CLIR is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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