The following is a summary of the Clearsign Technologies Corporation (CLIR) Q4 2023 Earnings Call Transcript:

Financial Performance:

• ClearSign raised approximately $9.3 million via two offerings, reporting around $13.7 million in cash and equivalents.

• In Q4 2023, revenues reached approximately $1.3 million, compared to $50K in Q4 2022.

• Gross profit margin for Q4 was 43.9%, a 12.8% increase year-over-year, driven mainly by process burners shipments.

• Full-year revenues for 2023 were $2.4 million, a 642% increase over the prior year, mainly due to ongoing California refinery process burner projects.

• Net loss for Q4 2023 was $1 million, a decrease of $300,000 compared to Q4 2022. For the full year 2023, the net loss was about $5.2 million, $500,000 less than in 2022.

Business Progress:

• ClearSign completed two significant process heater installations, expanding the business reach and market exposure.

• The funds raised through capital will be used to speed up commercial growth plans.

• A large boiler burner is expected to start up around midyear under a 2.5 part per million NOx guarantee.

• The company anticipates cash flow breakeven with an estimated run rate of 160 burners per year following the recent capital raise.

• ClearSign has several significant projects underway, including the initial phase of physical testing for a hydrogen burner.

• Installation of two heaters in a California refinery has been completed, and collaboration with a heater manufacturer for low-NOx applications is underway.

• Investments are planned to expand sales capabilities and infrastructure, anticipating more sales and increased revenue.

More details: ClearSign IR

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