ClearSign Technologies Corporation Q2 2024 Earnings Conference Call August 21, 2024 5:00 PM ET

Company Participants

Matthew Selinger - IR, Firm IR Group
Brent Hinds - CFO
Jim Deller - CEO

Conference Call Participants

Amit Dayal - H.C. Wainwright

Operator

Good afternoon and welcome to the ClearSign Technologies Second Quarter 2024 Conference Call. All participants will be in a listen-only mode. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Matthew Selinger of Firm IR Group. Please go ahead.

Matthew Selinger

Good afternoon and thank you, operator. Welcome everyone to the ClearSign Technologies Corporation Second Quarter 2024 Results Conference Call. During this conference call, the company will make forward-looking statements. Any statement that is not a statement of historical fact is a forward-looking statement. This includes remarks about the company's projections, expectations, plans, beliefs, and prospects. These statements are based on judgments and analysis as of the date of this conference call and are subject to numerous important risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

The risk and uncertainties associated with the forward-looking statements made in this conference call include, but are not limited to, whether field testing and sales of ClearSign's products will be successfully completed, whether ClearSign will be successful in expanding the market for its products, and other risks that are described in ClearSign's public periodic filings with the SEC, including a discussion in the risk factor section of the 2023 Annual Report on Form 10-K for the period ended December 31, 2023.

Except as required by law, ClearSign assumes no responsibility to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so. So on the call with me today are Jim Deller, ClearSign's Chief Executive Officer, and Brent Hinds, ClearSign's Chief Financial Officer.

So with that, at this point in the call, I would like to turn the call over to CFO, Brent Hinds. So Brent, please go ahead.

Brent Hinds

Thank you, Matthew. And thank you to everyone joining us here today. Before I begin, I'd like to note that our financial results for the second quarter of 2024 are included in the quarterly report on Form 10-Q that was filed with the SEC last Wednesday on August 14.

With that, I'd like to give an overview of the financials for the second quarter of 2024. For the second quarter of 2024, the company recognized approximately $45,000 in revenues compared to $150,000 for the same comparable period in 2023. This $105,000 decrease in revenues is driven by the natural lumpiness in our business, as we continue to work to build our sales pipeline. While we don't provide guidance, Jim will comment later on our project pipeline with shipping and delivery timeframes which can give an indication of future revenues.