What factors drove the changes in ClearSign's revenue and profit?

What is the market's earnings forecast for ClearSign next quarter?

What guidance did ClearSign's management provide for the next earnings period?

Did ClearSign beat or miss consensus estimates last quarter?

What is ClearSign's gross profit margin?

What is the revenue and EPS growth rate for ClearSign year over year?

What is ClearSign's latest dividend and current dividend yield?

What were the key takeaways from ClearSign's earnings call?

- **Revenue resilience**: Q3 2025 revenue down 47% YoY but gross margin up 6.1ppt to 43.9%
- **Order momentum**: 36-burner Gulf Coast refinery order and 26-burner shipment Q4
- **Product diversification**: M Series burners (2x weekly orders) and flares (4th order)
- **Strategic wins**: 100% hydrogen burner testing success, Zeeco partnership
- **Future growth**: $2.6 million from 26-burner order, spare parts revenue growing 3x YoY

**【CFO Financial Commentary】**
- Q3 2025 revenue: $1 million (down 47% YoY from $1.9 million) due to a large 2024 California refinery order. 
- Gross margin improved 6.1ppt YoY to 43.9%, with year-to-date margin up 5.3ppt.
- Net loss increased $274k YoY to $1.8 million due to lower sales volume.
- Cash balance: $10.5 million as of Sep 30, 2025.

**【CEO Business Update】**
- Diversified order flow across process burners (+36 units for Gulf Coast refinery), flares (4th order for California producer), and M Series burners (2 orders in 1 week).
- Key drivers: regulatory compliance (Texas, California NOx limits), cost efficiency (SCR替代方案节省$40-60 million), and field-tested reliability.
- Notable projects: 
  - 26-burner order for Gulf Coast refinery (shipping Q4)
  - DOE-funded 100% hydrogen-capable burner completed testing
  - M25 retrofit burner with 10-12 week delivery cycle
- Spare parts revenue: $300k in Q3 (30% of total)

**【Q&A Highlights】**
- M Series success: 2 orders in 1 week, targeting midstream gas retrofits
- Flare business: 4th order for California producer to meet NOx limits
- Sensor product: pilot installation at super major refinery
- Zeeco partnership: burner manufacturing and test facility access
- 2026 outlook: 26-burner order (~$2.6 million) and 36-burner order to drive Q4 revenue

ClearSign Technologies Corporation (CLIR) Q3 2025 Earnings Call Transcript

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