ClearSign Q3 2024 Earnings Report
Key Takeaways
ClearSign Technologies Corporation announced a record quarterly revenue of $1.85 million for the third quarter of 2024, compared to $85 thousand for the same period in 2023. This increase was primarily due to the shipment of 20 process burners to a California refinery customer. The company also announced a flare order for an energy company in California and burner orders for power generation customers in Oklahoma and Missouri.
Achieved record quarterly revenue of $1.85 million.
Secured flare order for an energy company in California.
Received burner orders for power generation customers in Oklahoma and Missouri.
Announced order for multi-heater project for a Texas petrochemical facility.
ClearSign
ClearSign
Forward Guidance
ClearSign anticipates continued growth through expanding sales channels and a growing project pipeline. The company expects the flare retrofit project to be fabricated and shipped in the second quarter of 2025.
Positive Outlook
- Expanding sales channels through partners, OEMs, and engineering firms.
- Growing pipeline of projects in shipping, installation, and engineering phases.
- Operational performance data from installed base and third-party testing supports reputation.
- Flare retrofit project expected to be fabricated and shipped in Q2 2025.
- Initial engineering order received for a multi-heater project in Texas.
Challenges Ahead
- Ability to successfully deliver, install, and meet performance obligations of burners.
- Performance of products, including ultra-low NOx burner and related savings.
- Ability to timely fabricate and ship burners.
- Ability to further expand the sale of ultra-low NOx process and boiler burners.
- Acceptance and adoption of the Company’s technology.