$CLIR

CLEARSIGN COMBUSTION CORP

CIK:0001434524|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements of Operations and Comprehensive Loss
Revenues	$ 560	$ 133	$ 751	$ 534
Cost of goods sold	332	78	916	283
Gross profit (loss)	228	55	(165)	251
Operating expenses:
Research and development	448	247	697	694
General and administrative	1,278	1,646	2,915	3,652
Total operating expenses	1,726	1,893	3,612	4,346
Loss from operations	(1,498)	(1,838)	(3,777)	(4,095)
Other income, net:
Interest income	61	115	123	248
Government assistance	131	43	159	91
Other income, net	(1)		(2)
Total other income, net	191	158	280	339
Net loss	$ (1,307)	$ (1,680)	$ (3,497)	$ (3,756)
Net loss per share - basic	$ (0.22)	$ (0.3)	$ (0.61)	$ (0.7)
Net loss per share - fully diluted	$ (0.22)	$ (0.3)	$ (0.61)	$ (0.7)
Weighted average number of shares outstanding - basic	5,931,470	5,521,797	5,780,139	5,510,759
Weighted average number of shares outstanding - fully diluted	5,931,470	5,521,797	5,780,139	5,510,759
Comprehensive loss:
Net loss	$ (1,307)	$ (1,680)	$ (3,497)	$ (3,756)
Foreign-exchange translation adjustments	1		3
Comprehensive loss	$ (1,306)	$ (1,680)	$ (3,494)	$ (3,756)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (3,497)	$ (3,756)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	6	7
Share-based compensation, net of tax withholdings	156	96
Depreciation and amortization	81	98
Impairment of intangible assets	39	0
Right-of-use asset amortization	45	44
Change in operating assets and liabilities:
Deferred costs	(142)	(967)
Accounts receivable	1,126	140
Prepaid expenses and other assets	(232)	(96)
Contract assets	(127)
Accounts payable, accrued liabilities, and lease liabilities	(221)	330
Other current liabilities	(180)
Accrued compensation and related taxes	47	(13)
Contract liabilities	315	2,495
Net cash used in operating activities	(2,584)	(1,622)
Cash flows from investing activities:
Acquisition of fixed assets		(4)
Disbursements for patents and other intangible assets	(89)	(53)
Net cash used in investing activities	(89)	(57)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of offering costs	3,413
Proceeds from exercise of warrants		24
Taxes paid related to employee stock awards	(32)	(41)
Net cash provided by (used in) financing activities	3,381	(17)
Effect of exchange rate changes on cash and cash equivalents	3
Net change in cash and cash equivalents	711	(1,696)
Cash and cash equivalents, beginning of period	9,178	14,035
Cash and cash equivalents, end of period	9,889	12,339
Supplemental disclosure of cash flow information:
Officer and employee equity awards for prior year accrued compensation	$ 223	279
Non-cash impact of new lease		$ 68

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 9,889	$ 9,178
Accounts receivable	234	1,360
Deferred costs	471	329
Prepaid expenses and other assets	591	359
Total current assets	11,185	11,226
Fixed assets, net	141	195
Contract assets	127
Patents and other intangible assets, net	737	760
Total Assets	12,190	12,181
Current Liabilities:
Accounts payable and accrued liabilities	1,437	1,644
Current portion of lease liabilities	100	96
Accrued compensation and related taxes	387	564
Contract liabilities	415	100
Other current liabilities		180
Total current liabilities	2,339	2,584
Long Term Liabilities:
Long term lease liabilities	17	67
Total liabilities	2,356	2,651
Commitments and contingencies (Note 10)
Stockholders' Equity:
Preferred stock, $0.0001 par value, 2,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.0001 par value, 87,500,000 shares authorized, 6,307,455 and 5,328,730 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1	1
Additional paid-in capital	117,859	114,061
Accumulated other comprehensive loss	(17)	(20)
Accumulated deficit	(108,009)	(104,512)
Total stockholders' equity	9,834	9,530
Total Liabilities and Stockholders' Equity	$ 12,190	$ 12,181