ClearSign - Public Comps and Valuation Multiples

ClearSign Overview

About ClearSign

ClearSign Technologies Corp is engaged in providing solutions to some of the pressing productivity, energy efficiency, and pollution problems affecting the energy, oil, and gas production, boiler, and processing industries. It believes that its patented ClearSign Core technology can enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and downstream refining), institutional, commercial, and industrial boiler, chemical, and petrochemical industries. The company offers products that include process burners, boiler burners, flares, and ClearSign Eye.

Founded

2008

HQ

Employees

Website

clearsign.com

Sectors

Environmental & Facilities Services
Service Providers
ClimateTech

Financials

LTM Revenue $3.9M

LTM EBITDA -$7.3M

EV

$16.2M

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ClearSign Financials

As of August 2025, ClearSign reported last 12-month revenue of $3.9M and EBITDA of -$7.3M.

In the same period, ClearSign generated $1.2M in LTM gross profit and -$6.8M in net income.

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ClearSign P&L

In the most recent fiscal year, ClearSign reported revenue of $3.6M and EBITDA of -$5.6M.

ClearSign expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$3.9M	XXX	$3.6M	XXX	XXX	XXX
Gross Profit	$1.2M	XXX	$1.1M	XXX	XXX	XXX
Gross Margin	30%	XXX	31%	XXX	XXX	XXX
EBITDA	-$7.3M	XXX	-$5.6M	XXX	XXX	XXX
EBITDA Margin	-189%	XXX	-154%	XXX	XXX	XXX
EBIT	-$7.5M	XXX	-$5.8M	XXX	XXX	XXX
EBIT Margin	-194%	XXX	-162%	XXX	XXX	XXX
Net Profit	-$6.8M	XXX	-$5.3M	XXX	XXX	XXX
Net Margin	-175%	XXX	-147%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for ClearSign including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $3.9M. EBITDA for the last twelve months was -$7.3M. In the most recent fiscal year, ClearSign achieved $3.6M in revenue and -$5.6M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$3.9M	Analyst estimates available to subscribers	$3.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.2M	Analyst estimates available to subscribers	$1.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	30.4% gross margin	Analyst estimates available to subscribers	31.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	-$7.3M	Analyst estimates available to subscribers	-$5.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	-189.1% EBITDA margin	Analyst estimates available to subscribers	-154.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$7.5M	Analyst estimates available to subscribers	-$5.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-194.2% EBIT margin	Analyst estimates available to subscribers	-162.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$6.8M	Analyst estimates available to subscribers	-$5.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-175.4% net profit margin	Analyst estimates available to subscribers	-147.4% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for ClearSign

This financial data table provides comprehensive performance metrics for ClearSign, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

ClearSign generated $3.9M in revenue over the last twelve months.
The company achieved -$7.3M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.2M.
Net income over the last twelve months reached -$6.8M.

Fiscal Year Performance

In the most recent fiscal year, ClearSign reported $3.6M in total revenue.
Fiscal year EBITDA was -$5.6M.
The company maintained a gross profit margin of 31.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was -154.4%.
Net profit margin reached -147.4% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for ClearSign. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

ClearSign Stock Performance

ClearSign has current market cap of $28.3M, and EV of $16.2M.

Market Cap Evolution

ClearSign Stock Data

As of September 12, 2025, ClearSign's stock price is $1.

See ClearSign trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$16.2M	$28.3M	XXX	XXX	XXX	XXX	$-0.13

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ClearSign Valuation Multiples

ClearSign's trades at 4.5x EV/Revenue multiple, and -2.9x EV/EBITDA.

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ClearSign Financial Valuation Multiples

As of September 12, 2025, ClearSign has market cap of $28.3M and EV of $16.2M.

Equity research analysts estimate ClearSign's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

ClearSign has a P/E ratio of -4.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$28.3M	XXX	$28.3M	XXX	XXX	XXX
EV (current)	$16.2M	XXX	$16.2M	XXX	XXX	XXX
EV/Revenue	4.2x	XXX	4.5x	XXX	XXX	XXX
EV/EBITDA	-2.2x	XXX	-2.9x	XXX	XXX	XXX
EV/EBIT	-2.2x	XXX	-2.8x	XXX	XXX	XXX
EV/Gross Profit	13.7x	XXX	n/a	XXX	XXX	XXX
P/E	-4.2x	XXX	-5.3x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-3.5x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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ClearSign Margins & Growth Rates

ClearSign's last 12 month revenue growth is 107%

ClearSign's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.4M for the same period.

ClearSign's rule of 40 is -113% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

ClearSign's rule of X is 79% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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ClearSign Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	107%	XXX	64%	XXX	XXX	XXX
EBITDA Margin	-189%	XXX	-154%	XXX	XXX	XXX
EBITDA Growth	-17%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-113%	XXX	-47%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	79%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	41%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	193%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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