Filing Flows › Clean Energy Fuels (CLNE) › Q4 2025
Clean Energy Fuels (CLNE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Clean Energy Fuels (CLNE) reported revenue of $112M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +6% from the quarter before. Operating margin was -9.5%, net loss $43.2M (38.5% of revenue).
Clean Energy Fuels, Q4 2025: revenue $112M (+3% year over year), operating margin -9.5%, net loss $43.2M, operating cash flow $13.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $112M | +6% | +3% |
| Operating profit | −$10.7M | — | — |
| Net earnings | −$43.2M | — | — |
| Operating cash flow | $13.1M | +0.2% | -40% |
| Free cash flow | $6.5M | +0.5% | -37% |
What changed
Revenue was $112.3M in Q4 2025, up 3% year over year and up 6% from the previous quarter. Fuel Sales was the largest line at 66% of revenue.
Operating costs exceeded revenue by $10.7M, an operating margin of -9.5%. Total costs grew 1% against revenue growth of 3%. The quarter ended with a net loss of $43.2M, wider than the previous quarter's $24.0M loss. Minority interests bore $196K of it: to shareholders the quarter was a loss of $43.0M. Net interest and other expense of $32.5M was the main reason.
Operating cash flow was $13.1M (down 40% year over year). Non-cash charges added back $11.7M of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items added $42.1M. Capital expenditures of $6.6M left free cash flow of $6.5M.
Questions
What was Clean Energy Fuels' revenue in the fourth quarter 2025?
Clean Energy Fuels (CLNE) reported revenue of $112M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +6% from the quarter before.
Was Clean Energy Fuels profitable in the fourth quarter 2025?
Operating loss was $10.7M (-9.5% of revenue) and net loss $43.2M.
Source: Clean Energy Fuels 10-K on SEC EDGAR.