ClearSign Technologies Corporation (CLIR) Stock

ClearSign Technologies Corporation (CLIR) is a Technology stock trading at $4.66 (as of 2026-08-20), with a market capitalization of $31.69M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

ClearSign Technologies Corporation designs and develops products and technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications. The company also provides ClearSign Core Boiler Burner; and ClearSign Core Flaring Burners technologies. It serves energy, institutional, commercial and industrial boiler, chemical, and petrochemical industries. The company was formerly known as ClearSign Combustion Corporation and changed its name ClearSign Technologies Corporation in November 2019. ClearSign Technologies Corporation was incorporated in 2008 and is headquartered in Tulsa, Oklahoma.

Understand ClearSign Technologies Corporation: how it makes money

ClearSign Technologies designs and develops industrial burner and flame sensing technologies to improve operational performance, energy efficiency, emission reduction, safety, and cost effectiveness, and it makes money by delivering process burners and multi-burner product orders (and selling spare parts).

The business model is outcome-driven, profit depends on converting customer engineering scopes, proposals, and burner quantities into completion and delivery of process burners and multi-burner product orders, then monetizing follow-on activity through spare parts.

Revenue by segment (latest quarter)
Spare Parts$0.0B
Multi-Burner Delivery$0.0B
Process Burners$0.0B

Business quality (Weak): Latest reported quarter shows 0.0 revenue and very negative gross and operating margins, so near-term financial signal is weak, while operating activity metrics (orders, proposals, burner counts) appear to be tracking future conversion opportunities.

Bull case

  • Active demand indicators in burner engineering and orders: The company reports specific burner quantities tied to customer plans and scopes, including process burner quantities in orders such as 16 (Midwest refinery order), 26 (Texas chemical facility engineering order and Zico manufacturing plan), 32 (engineering scope), and 36 (U.S. Gulf Coast order).
  • Pipeline for additional midstream opportunities: Midstream proposal activity is reported through metrics like Midstream Product Proposal Pipeline (50) and Active Proposals for Midstream Model Series Burners (50), suggesting potential future delivery and installation demand.

Bear case

  • No reported revenue in the latest quarter: For the period ended 2026-03-31, total revenue is reported as 0.0B, which limits the ability to judge realized monetization from current period activity.
  • Large losses indicated by negative margins: The latest quarter shows gross_margin_pct of -205.8 and operating_margin_pct of -1193.2, indicating profitability pressure even before considering how quickly orders convert into revenue.
Valuation — source: SEC EDGAR (first-party)
Price$4.66
Market Cap$31.69M
Price / Book3.22
Price / Sales16.08
FCF Yield-10.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$5.23M
Net Margin-105.0%
Return on Equity-53.3%
Current Ratio4.78
Revenue Growth (YoY)45.6%
EPS Growth (YoY)800.0%
FCF Growth (YoY)7.4%
Financial Health — source: SEC EDGAR
Altman Z-Score-6.84 (distress)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Measuring & Control Equipment)51.8
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($735577.00)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryMeasuring & Control Equipment
CEOColin James Deller
Employees18
CountryUS
IPO Date2012-04-25

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CLIR earnings history · CLIR institutional & insider holders · CLIR KPIs & operating metrics · CLIR financials · CLIR investor presentations & press releases · CLIR SEC filings · CLIR peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.