ClearSign Technologies Corporation Provides Preliminary 2023 Financial Results; Sees Q4 Revenue Of ~$1.2M
Portfolio Pulse from Benzinga Newsdesk
ClearSign Technologies Corporation (NASDAQ:CLIR) announced preliminary Q4 2023 revenues of approximately $1.2M, a significant increase from $50K in the same period in 2022. The company completed its largest refinery heater installation, contributing to the revenue. The full-year revenue for 2023 is estimated at $2.3M, up from $374K in 2022. Despite the revenue growth, ClearSign anticipates a net loss of $5.4M to $5.1M for 2023, an improvement from a $5.8M loss in 2022. These results are unaudited and subject to change.
February 07, 2024 | 1:34 pm
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ClearSign Technologies Corporation announced a significant increase in Q4 2023 revenue to approximately $1.2M, up from $50K in Q4 2022, and an estimated annual revenue of $2.3M for 2023, up from $374K in 2022. The company also anticipates a reduced net loss for 2023 compared to 2022.
The significant increase in revenue for Q4 2023 and the full year, along with a reduced net loss, indicates a positive trend in ClearSign's financial performance. This could lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100