CLNE

MKT CAP:$510M

Clean Energy Fuels Corp.

Market Cap

$510M

Energy·Oil & Gas Refining & Marketing·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Refining & Marketing·🇺🇸·NASDAQ

Stock Price

$2.35+$0.19 (+9.03%)

Apr 24, 2026

Company Details

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liq...

CEO

Andrew J. Littlefair

IPO Date

May 25, 2007

Website

www.cleanenergyfuels.com

Key Metrics TTM

Revenue

$432M

— YoY

Net Income

-$232M

EPS (Diluted)

-$1.04

Free Cash Flow

$21M

Revenue / Share

$1.96

Gross Margin

5.1%

Operating Margin

-22.6%

Net Margin

-53.7%

FCF Margin

4.8%

P/S

1.2x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 24, 2026

$425MEPS -$1.01

Q4 2025

Feb 24, 2026

$112M+2.7%EPS -$0.20

Q3 2025

Nov 4, 2025

$106MEPS -$0.11

Q1 2025

May 8, 2025

$104MEPS -$0.60

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$480.0K	-$58M	-$79M
Q1 23	$132M	-$6M	-$35M
Q4 24	$109M	$24M	-$13M
Q1 25	$104M	-$35M	-$126M
Q3 25	$106M	$13M	-$13M
Q4 25	$112M	$20M	$55M

Valuation

Quarter	P/S	P/E
Q2 21	—	—
Q1 23	—	—
Q4 24	—	—
Q1 25	1.5x	—
Q3 25	1.1x	—
Q4 25	1.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$10M	$5M
Q1 23	-$19M	-$47M
Q4 24	$22M	$3M
Q1 25	$23M	$5M
Q3 25	$13M	$6M
Q4 25	$13M	$7M

Capital Expenditures

Quarter	CapEx
Q2 21	$5M
Q1 23	$28M
Q4 24	$19M
Q1 25	$19M
Q3 25	$7M
Q4 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 25	+22078.3%	+49.9%
Q4 25	-15.0%	-65.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$81M	16973.3%
Q1 23	$20M	15.0%
Q4 24	$20M	18.7%
Q1 25	$19M	18.4%
Q3 25	$0	0.0%
Q4 25	$2M	2.2%

OpEx Breakdown

Quarter	SG&A
Q2 21	$22M
Q1 23	$30M
Q4 24	$28M
Q1 25	$27M
Q3 25	$26M
Q4 25	$31M

Revenue Segments

Quarter	Federal Alternative Fuels Tax Credit	Station Construction Sales	Volume Related Revenue
Q2 21	$5M	$6M	-$11M

Revenue by Geography

Quarter	Canada	United States
Q1 25	$1M	$103M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$108M	$121M	$229M
Q2 22	$57M	$130M	$188M
Q3 22	$23M	$111M	$134M
Q4 22	$126M	$140M	$266M
Q1 23	$167M	$55M	$222M
Q2 23	$53M	$139M	$192M
Q3 23	$25M	$149M	$174M
Q4 23	$107M	$158M	$265M
Q1 24	$91M	$159M	$251M
Q2 24	$125M	$126M	$251M
Q3 24	$117M	$127M	$244M
Q4 24	$90M	$128M	$217M
Q1 25	$119M	$108M	$227M
Q2 25	$132M	$109M	$241M
Q3 25	$183M	$51M	$234M
Q4 25	$158M	$552.0K	$158M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	207M	—	—
Q1 23	223M	+7.6%	—
Q4 24	223M	+0.3%	—
Q1 25	224M	+0.1%	—
Q3 25	219M	-2.0%	+5.9%
Q4 25	221M	+0.6%	-0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$1.0K	465
Q1 23	$266.5K	496
Q4 24	$189.5K	577
Q1 25	$179.8K	577
Q3 25	$184.5K	577
Q4 25	$223.3K	503

Revenue / Employee