Filing Flows › Clean Energy Fuels (CLNE) › Q3 2025
Clean Energy Fuels (CLNE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Clean Energy Fuels (CLNE) reported revenue of $106M for the third quarter 2025 (Q3 2025), +1% from a year earlier and +3% from the quarter before. Operating margin was -12.8%, net loss $24.0M (22.6% of revenue).
Clean Energy Fuels, Q3 2025: revenue $106M (+1% year over year), operating margin -12.8%, net loss $24.0M, operating cash flow $13.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106M | +3% | +1% |
| Operating profit | −$13.6M | — | — |
| Net earnings | −$24.0M | — | — |
| Operating cash flow | $13.1M | -64% | -39% |
| Free cash flow | $6.5M | -79% | 154× |
What changed
Revenue was $106.1M in Q3 2025, up 1% year over year and up 3% from the previous quarter. Fuel Sales was the largest line at 66% of revenue. Fuel Sales added $5.7M year over year (up 9%), 456% of the total change. RIN Credits declined 25%.
Operating costs exceeded revenue by $13.6M, an operating margin of -12.8%. Total costs grew 6% against revenue growth of 1%. The fastest-growing cost line was Other operating costs (+11%). The quarter ended with a net loss of $24.0M, wider than the previous quarter's $20.4M loss. Minority interests bore $184K of it: to shareholders the quarter was a loss of $23.8M.
Operating cash flow was $13.1M (down 39% year over year). Non-cash charges added back $14.7M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $20.2M. Capital expenditures of $6.6M left free cash flow of $6.5M.
Questions
What was Clean Energy Fuels' revenue in the third quarter 2025?
Clean Energy Fuels (CLNE) reported revenue of $106M for the third quarter 2025 (Q3 2025), +1% from a year earlier and +3% from the quarter before.
Was Clean Energy Fuels profitable in the third quarter 2025?
Operating loss was $13.6M (-12.8% of revenue) and net loss $24.0M.
Source: Clean Energy Fuels 10-Q on SEC EDGAR.