ClearSign Technologies Corporation

CLIR

Industrial - Pollution & Treatment Controls · Industrials

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

ClearSign Technologies is a small American company that makes technology to reduce pollution from industrial burners and combustion systems. Its main product is a system that uses electric fields to control flames, making them burn cleaner and produce fewer harmful emissions like nitrogen oxides (NOx). Its target customers are oil refineries, petrochemical plants, and other heavy industrial facilities that must meet strict environmental regulations.

The company earns revenue by licensing its patented flame-control technology and selling systems to industrial operators, though it is still in an early commercial stage and spends far more than it earns. ClearSign operates primarily in the United States and has been pursuing opportunities in China through partnerships. Its main competitive advantage is its patented technology, but the biggest risk is that it continues to burn through cash with limited revenue, making it dependent on raising new funding to survive while it tries to win larger commercial contracts.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+321.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+27.6% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

29.3%ownership

Insiders own a meaningful stake in the company

Cash Runway

~23 months

$10M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Strong grower

ClearSign Technologies Corporation is growing revenue at 321% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

40.7%

Healthy — 40.7% gross margin

Profit after running costs

Operating Margin

-267.5%

Losing money on operations — -267.5%

Return on the money invested

ROCE

-60.2%

Weak — -60.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+82.7%

Fast-growing sales (+82.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-107.7%

Burning cash (-107.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

—

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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