Clean Energy(US:CLNE)2025-08-07 20:17Financial Performance - Clean Energy reported revenue of $102.6 million for Q2 2025, an increase from $98.0 million in Q2 2024[6] - Net loss attributable to Clean Energy for Q2 2025 was $(20.2) million, or $(0.09) per share, compared to $(16.3) million, or $(0.07) per share, in Q2 2024[6] - Adjusted EBITDA for Q2 2025 was $17.5 million, down from $18.9 million in Q2 2024[9] - Revenue from renewable identification numbers (RIN) and low carbon fuel standards (LCFS) was $11.9 million, down from $13.9 million in Q2 2024, reflecting a decrease of $2.0 million[5] - Total revenue for the second quarter of 2025 was $102.6 million, a 4% increase from $98.0 million in the same period of 2024[38] - Product revenue increased to $87.1 million in Q2 2025, up from $83.0 million in Q2 2024, representing a 5% growth[38] - Service revenue for the second quarter of 2025 was $15.5 million, compared to $15.0 million in Q2 2024, reflecting a 3% increase[38] - Operating loss for the second quarter of 2025 was $9.2 million, compared to a loss of $5.6 million in Q2 2024, indicating a worsening of 64%[38] - The company expects a GAAP net loss for 2025 to range from $(217) million to $(212) million, which includes significant one-off charges such as $64.3 million for goodwill impairment[19] Sales and Volume - The company sold 61.4 million gallons of renewable natural gas (RNG) in Q2 2025, representing a 7.5% increase compared to Q2 2024[6] - For the three months ended June 30, 2024, total fuel volume sold was 70.4 million GGEs, increasing to 76.3 million GGEs for the same period in 2025, representing a growth of approximately 12.5%[14] - The company reported a total fuel volume of 145.4 million GGEs for the six months ended June 30, 2024, which decreased to 143.0 million GGEs in 2025, a decline of about 1.6%[14] Cash and Investments - Cash, cash equivalents, and short-term investments totaled $240.8 million as of June 30, 2025, up from $217.5 million as of December 31, 2024[6] - Cash and cash equivalents increased to $134.2 million as of June 30, 2025, up from $91.6 million at the end of 2024[35] - The company executed new RNG supply agreements expected to provide over 20 million gallons of RNG annually to transit fleets and municipalities[6] - Clean Energy's joint venture with BP finalized the sale of $29.5 million in investment tax credits (ITCs) for gross proceeds of $27.2 million[6] - The company resumed share repurchases, buying back 4,913,818 shares for $7.9 million, with approximately $18.7 million remaining under the program[6] Liabilities and Debt - Current liabilities decreased to $144.3 million as of June 30, 2025, down from $154.7 million at the end of 2024[35] - Long-term debt increased to $265.3 million as of June 30, 2025, compared to $265.3 million at the end of 2024[35] Future Outlook - Adjusted EBITDA for 2025 is estimated to range from approximately $60 million to $65 million, excluding the impact of acquisitions and macroeconomic conditions[19] - The company expects to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, on or about August 7, 2025[32] Other Charges - The company recognized higher Amazon warrant charges in Q2 2025 due to increased fuel volumes sold to Amazon[8] - The company incurred Amazon warrant charges estimated to be approximately $63 million for 2025, impacting net loss calculations[20] - The company’s revenue from RIN Credits for the three months ended June 30, 2024, was $9.5 million, slightly decreasing to $9.2 million in 2025, a decline of about 3.2%[15] - The company’s service revenue for the six months ended June 30, 2024, was $29.3 million, compared to $29.0 million in 2025, indicating a slight decrease of about 1.0%[15]