Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ClearSign Technologies Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.62
0.54
0.53
0
0
0.61
0.37
2.4
3.6
5.23
Cost of revenue
0.49
0.38
0.43
0
0.28
1.06
0.26
1.59
2.48
3.81
Gross profit
0.14
0.16
0.1
-0
-0.28
-0.45
0.12
0.82
1.12
1.42
Research and development
4.83
4.71
4.05
3.06
2.03
2.68
0.51
0.74
1.47
1.42
General and administrative
6.51
5.16
5.62
5.53
4.62
5.01
5.73
6.06
6.14
6.67
Operating expenses
11.3
9.87
9.67
8.58
6.65
7.69
6.23
6.8
7.61
8.1
Operating income
-11.2
-9.71
-9.57
-8.58
-6.93
-8.15
-6.12
-5.98
-6.49
-6.67
Interest income
0.03
0.03
0.07
0.1
0
0
Other non-operating income
0.25
0.36
0.79
1.19
1.18
Pre-tax income
-7.89
-5.76
-5.19
-5.3
-5.45
Income tax
0
0
0
0
0
Net income to minority interests
-0
-0
-0
Net income
-11.2
-9.68
-9.5
-8.48
-6.88
-7.89
-5.76
-5.19
-5.3
-5.5
EBITDA
-11
-9.42
-9.3
-8.34
-6.72
-7.89
-5.96
-5.83
-6.47
-6.65
EPS, basic
-8.60
6.30
4.20
3.20
-2.50
-2.50
-1.60
-1.30
-1.08
-0.99
EPS, diluted
-8.60
6.30
4.20
3.20
-2.50
-2.50
-1.60
-1.30
-1.08
-0.99
Shares, basic (weighted)
1.29
1.54
2.29
2.67
2.78
3.12
3.53
3.85
4.89
5.55
Shares, diluted (weighted)
0.13
0.35
0.34
0.22
0.28
3.12
3.53
3.85
4.89
5.55
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
1.26
1.25
8.95
8.55
8.82
7.61
6.45
5.68
14
9.18
Short-term investments
0
6.92
0
0
2.61
0
Receivables
0.1
0
0.03
0.08
0.29
0.17
1.36
Other current assets
0.54
0.37
0.5
0.39
0.2
0.35
0.58
0.35
0.45
0.36
Total current assets
1.9
1.8
16.4
8.98
9.38
8.02
9.73
6.51
15.2
11.2
Property, plant and equipment
0.64
0.5
0.46
0.67
0.43
0.53
0.38
0.28
0.24
0.2
Lease right-of-use assets
0.38
0.45
0.32
0.24
0.18
0.16
Intangible assets
1.74
1.86
1.76
1.29
1.3
0.8
0.8
0.84
0.83
0.76
Other non-current assets
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Total assets
4.29
4.16
18.6
10.9
11.1
9.36
10.9
7.62
16.3
12.2
Accounts payable
0.76
0.77
1.08
0.85
0.44
0.22
0.3
0.37
1.22
1.64
Accrued liabilities
0.67
0.61
0.34
0.23
0.38
0.22
0.47
0.7
0.67
0.56
Deferred revenue
0
0.05
0.09
0.08
0.25
1.12
0.44
0.1
Total current liabilities
1.69
1.53
1.64
1.3
1.08
0.73
1.15
2.26
2.41
2.58
Long-term debt
0
0.25
Lease liabilities
0.09
0.42
0.25
0.35
0.23
0.17
0.11
0.07
Total liabilities
2.04
1.73
1.73
1.72
1.58
1.08
1.37
2.43
2.52
2.65
Total debt
0
0.25
Paid-in capital
42.6
52.4
76.4
77.2
84.4
91
98.1
98.9
113
114
Retained earnings
-40.3
-50
-59.5
-68
-74.9
-82.8
-88.5
-93.7
-99
-105
Shareholders' equity
2.24
2.43
16.9
9.22
9.54
8.28
Minority interests
0
0
Total equity
2.24
2.43
16.9
9.23
9.54
8.28
9.55
5.19
13.8
9.53
Total liabilities and equity
4.29
4.16
18.6
10.9
11.1
9.36
10.9
7.62
16.3
12.2
Shares outstanding
1.3
1.56
2.67
2.67
3.01
3.16
3.8
3.87
5.03
5.33
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-11.2
-9.68
-9.5
-8.48
-6.89
-7.89
-5.76
-5.19
-5.3
-5.5
Depreciation and amortization
0.21
0.3
0.27
0.24
0.21
0.26
0.16
0.15
0.02
0.03
Stock-based compensation
0.65
0.37
0.22
0.69
0.8
0.68
0.37
0.61
0.53
0.89
Change in receivables
-0.1
0.1
0
-0.03
-0.05
-0.21
0.12
-1.2
Change in payables
0.26
0.01
0.31
-0.24
-0.38
-0.39
-0.13
-0.06
0.82
0.38
Cash from operations
-8.67
-8.26
-8.38
-6.9
-5.96
-6.71
-4.99
-3.23
-4.37
-4.74
Capital expenditures
-0.14
-0.09
-0.09
-0.02
-0.02
-0.07
-0.01
-0.04
-0
Purchases of investments
0
-6.92
Cash from investing
-1.05
-0.42
-7.43
6.51
-0.19
-0.21
-2.69
2.49
-0.22
-0.1
Debt issued
0.25
Stock issued
0
5.31
6.54
0
13
0
Cash from financing
0
8.67
23.5
0
6.43
5.69
6.54
-0.02
12.9
-0.02
Exchange rate effect
0.01
-0.02
-0.01
-0
0
Net change in cash
-9.73
-0.01
7.7
-0.4
0.27
-1.22
-1.16
-0.77
8.35
-4.86
Free cash flow
-8.81
-8.35
-8.48
-6.92
-5.98
-6.78
-5
-4.41
-4.74
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.45 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
18.5%
Gross profit / revenue.
Operating margin
-116.5%
Operating income / revenue.
EBITDA margin
-116.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Net margin
-96.1%
Net income / revenue.
Operating cash flow margin
-104.5%
Cash from operations / revenue.
Return on assets (ROA)
-43.0%
Net income / average total assets.
R&D / revenue
26.1%
Research and development expense / revenue.
Stock-based pay / revenue
17.5%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
0.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
45.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
141.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
27.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
130.7%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-25.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
3.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
1.8%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
13.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
16.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
82.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.78x
Current assets / current liabilities.
Quick ratio
4.33x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
4.23x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
19.3%
Total liabilities / total assets.
Working capital
$8.8M
Current assets - current liabilities.
Goodwill and intangibles / assets
6.0%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.45x
Revenue / average total assets.
Fixed asset turnover
38.7x
Revenue / average property, plant and equipment.
Receivables turnover
23.3x
Revenue / average receivables.
Days sales outstanding
16 days
365 x average receivables / revenue.
Days payables
118 days
365 x average accounts payable / cost of revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.93
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Market cap + total debt - cash - short-term investments.
P/S
4.31x
Market cap / revenue.
EV/Sales
2.50x
Enterprise value / revenue.
Earnings yield
-22.3%
Net income / market cap (the inverse of P/E).
What was ClearSign Technologies Corp's revenue in fiscal 2025?
ClearSign Technologies Corp reported revenue of $5.2M for fiscal 2025, 45.6% higher than the year before.
Was ClearSign Technologies Corp profitable in fiscal 2025?
No. It reported a net loss of $5.5M.
How much free cash flow did ClearSign Technologies Corp generate in fiscal 2025?
Cash from operations of $4.7M minus capital expenditures of $4.0K left free cash flow of -$4.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.