ClearSign Technologies Corp SEC 10-Q Report

ClearSign Technologies Corp, a company focused on the design and development of technologies for decarbonization and improving combustion systems' performance, has released its Form 10-Q report for the first quarter of 2025. The report provides a detailed overview of the company's financial and operational performance, highlighting significant changes and future outlooks.

Financial Highlights

• Revenues: $0.401 million, a decrease of 63.6% compared to the same period in 2024, primarily due to lower sales from the process burner product line.
• Gross Profit: $0.196 million, a decrease of 55.1% compared to the same period in 2024, with a profit margin increase to 48.9% driven by spare parts orders.
• Net Loss: $2.076 million, an increase of 87.4% compared to the same period in 2024, primarily due to higher operating expenses.
• Net Loss Per Share - Basic and Fully Diluted: $(0.04), compared to $(0.03) in the same period in 2024, reflecting the increased net loss.

Business Highlights

• Revenue Segments: The company's revenues for the three months ended March 31, 2025, were predominantly generated from spare parts orders related to the process burner product line and a Computational Fluid Dynamic (CFD) analysis.
• Geographical Performance: All of the company's operating activities and revenues are concentrated in the United States, with 100% of revenues during the three months ended March 31, 2025, and 2024 coming from U.S. customers.
• Sales Units: The company delivered multiple spare parts orders and completed an engineering study and a CFD analysis during the three months ended March 31, 2025.
• Future Outlook: The company anticipates continued operating losses and negative cash flow for the foreseeable future, with a focus on gaining market recognition and acceptance for its technologies to develop sufficient recurring sales.
• Operational Strategy: The company is focused on the design and development of technologies for decarbonization and improving combustion systems' performance, with its ClearSign Core™ technology being a primary focus.
• Research and Development Focus: Increased R&D expenses were noted, primarily due to product development costs related to the process burner product line, indicating a strategic emphasis on enhancing this product line.

SEC Filing: ClearSign Technologies Corp [ CLIR ] - 10-Q - May. 15, 2025