Clean Energy Fuels Reports Mixed Q4 2025 Results Amid RNG Growth
Event summary
- Clean Energy Fuels reported Q4 2025 revenue of $112.3 million, up from $109.3 million in Q4 2024.
- Net loss for Q4 2025 was $(43.0) million, compared to $(30.2) million in Q4 2024.
- RNG gallons sold increased by 3.4% year-over-year to 64.1 million gallons in Q4 2025.
- Completed a large RNG facility at South Fork Dairy in Texas, capable of producing 2.6 million gallons annually.
- Adjusted EBITDA for Q4 2025 was $15.7 million, down from $23.6 million in Q4 2024.
The big picture
Clean Energy Fuels continues to position itself as a leader in the alternative fuel space, particularly with its focus on renewable natural gas (RNG). Despite reporting a net loss for Q4 2025, the company saw growth in RNG sales and completed a significant RNG facility. The strategic anomaly lies in the company's ability to balance expansion efforts with financial sustainability amid volatile market conditions.
What we're watching
- RNG Expansion
- The pace at which Clean Energy can scale its RNG production and sales will be critical to offsetting financial losses.
- Financial Health
- Whether the company can maintain liquidity and manage debt levels amid continued net losses.
- Market Dynamics
- How shifts in diesel and natural gas market conditions may impact Clean Energy's financial performance in 2026.
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