Clean Energy(CLNE) - 2025 Q3 - Quarterly Results

Financial Performance - Clean Energy reported revenue of $106.1 million for Q3 2025, a 1.1% increase from $104.9 million in Q3 2024[6] - Net loss attributable to Clean Energy for Q3 2025 was $(23.8) million, or $(0.11) per share, compared to $(18.2) million, or $(0.08) per share in Q3 2024[6] - Adjusted EBITDA for Q3 2025 was $17.3 million, down from $21.3 million in Q3 2024[8] - Total revenue for the three months ended September 30, 2025, was $106.137 million, a slight increase from $104.876 million in the same period of 2024, representing a growth of approximately 1.2%[38] - The net loss attributable to Clean Energy Fuels Corp. for the three months ended September 30, 2025, was $23.819 million, compared to a net loss of $18.175 million in the same period of 2024, reflecting an increase in losses of approximately 31.5%[38] - Operating loss for the three months ended September 30, 2025, was $13.636 million, compared to an operating loss of $8.528 million in the same period of 2024, representing an increase of approximately 60.5%[38] - The company expects a GAAP net loss for 2025 to range from approximately $(217) million to $(212) million, including $64.3 million in non-cash charges to Goodwill[17] - Adjusted EBITDA for 2025 is estimated to be between $60 million and $65 million, excluding impacts from acquisitions and macroeconomic conditions[17] Revenue Sources - The company sold 61.3 million gallons of RNG in Q3 2025, representing a 3% increase compared to Q3 2024[6] - Q3 2025 included $9.9 million in station construction revenues, an increase from $7.8 million in Q3 2024[5] - Renewable identification number (RIN) and low carbon fuel standards (LCFS) revenues were $11.4 million in Q3 2025, down from $13.0 million in Q3 2024[5] - Revenue from RIN Credits decreased to $22.7 million for the nine months ended September 30, 2025, down from $29.4 million in 2024, a decline of 22.8%[14] - Product revenue from fuel sales for the nine months ended September 30, 2025, increased to $214.0 million, compared to $189.7 million in 2024, reflecting a growth of 12.8%[14] - The company reported a total revenue of $312.5 million for the nine months ended September 30, 2025, compared to $306.5 million in 2024, a slight increase of 2.0%[14] Assets and Liabilities - Cash, cash equivalents, and short-term investments totaled $232.2 million as of September 30, 2025, up from $217.5 million as of December 31, 2024[6] - The company's total assets as of September 30, 2025, were $1.125 billion, up from $1.243 billion as of December 31, 2024[35] - Current liabilities decreased slightly from $154.722 million as of September 30, 2024, to $152.348 million as of September 30, 2025[35] - The company's total liabilities as of September 30, 2025, were $534.053 million, a slight increase from $524.360 million as of December 31, 2024[35] - The accumulated deficit increased from $1.012 billion as of December 31, 2024, to $1.192 billion as of September 30, 2025, indicating a rise of approximately 17.7%[35] - The company’s cash, cash equivalents, and restricted cash increased from $91.562 million as of December 31, 2024, to $182.955 million as of September 30, 2025[35] Strategic Initiatives - The company made a strategic investment in Pioneer Clean Fleet Solutions to promote low-carbon leasing and fueling solutions[6] - Construction of five new dairy RNG projects is progressing well, expected to produce approximately three million gallons of RNG annually[6] - The company is focused on improving production at existing RNG facilities and expanding its low-carbon fuel solutions[4] - Total fuel volume sold for the three months ended September 30, 2025, was 76.6 million GGEs, up from 73.5 million GGEs in 2024, representing a growth of 4.2%[14] - Product revenue for the nine months ended September 30, 2025, reached $268.297 million, compared to $262.274 million in 2024, indicating a growth of about 2.3%[38] - The company operates a vast network of fueling stations across the U.S. and Canada, focusing on decarbonizing transportation through renewable natural gas[22]