The strong revenue beat and RNG volume growth are positive catalysts, but the decline in non-GAAP EPS and cash burn warrant caution. Maintained 2026 EBITDA guidance implies significant H2 ramp; watch for Q2 operational updates and margin progression. The stock may rally on the top-line beat but tempered by profitability concerns.
Price Chart
Executive Summary
Clean Energy Fuels reported Q1 2026 revenue of $117.6M (+13% YoY, +22% vs consensus of $96.4M), with GAAP net loss narrowing to $(12.4)M ($(0.06)/share) from $(135)M in Q1 2025. RNG gallons sold surged 33% to 67.4M. Non-GAAP EPS of $(0.01) beat consensus of $(0.03), while adjusted EBITDA dipped slightly to $16.6M from $17.1M. The company maintained its 2026 adjusted EBITDA outlook of $70-75M.
Key Financial Metrics
Key Facts
- Revenue $117.6M vs $103.8M YoY (beat $96.4M consensus)
- GAAP net loss $(12.4)M vs $(135.0)M YoY (includes prior-year $64M goodwill impairment)
- Non-GAAP EPS $(0.01) vs $0.01 YoY (beat $(0.03) consensus)
- Adjusted EBITDA $16.6M vs $17.1M YoY
- RNG gallons sold 67.4M, +33% YoY
- 2026 adjusted EBITDA outlook maintained at $70-75M
- Cash & short-term investments $126.2M, down from $156.1M at Dec 2025
Financial Impact
Revenue beat of $21.2M (22%) above consensus; non-GAAP EPS beat by $0.02
Risk Factors
- Non-GAAP net loss worsened vs Q1 2025 (-$1.6M vs +$1.5M)
- Cash & investments decreased $30M in Q1 (to $126.2M)
- Amazon warrant non-cash charges ($10.1M) continue to depress revenue and earnings
- Adjusted EBITDA declined sequentially and YoY; reliance on H2 ramp
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-057158 |
| Document: clne-20260507x8k.htm | 0001104659-26-057158 |
| Document: 0001104659-26-057158-index-headers.html | 0001104659-26-057158 |
| Document: 0001104659-26-057158-index.html | 0001104659-26-057158 |
| Document: 0001104659-26-057158.txt | 0001104659-26-057158 |
| 8-K Data (Synthetic) | 0001104659-26-057158 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 19d ago | 3 | $1.52 | awaiting T+60 | — | $1.48 (−2.63%) |
Oct 6, 2026 21d ago | 8-K | $1.56 | awaiting T+60 | — | $1.48 (−5.13%) |
Aug 21, 2026 9w ago | Institutional Cluster | $1.62 | awaiting T+60 | — | $1.48 (−8.64%) |
May 7, 2026 24w ago | 8-K | $2.21 $1.87 | ▼ −15.38% | ▼ −20.22% | $1.48 (−33.03%) |
Apr 30, 2026 25w ago | DEFA14A | $2.30 $1.96 | ▼ −14.78% | ▼ −17.89% | $1.48 (−35.65%) |
Apr 23, 2026 26w ago | 8-K | $2.39 $2.17 | ▼ −9.21% | ▼ −14.22% | $1.48 (−38.08%) |
Feb 24, 2026 34w ago | 8-K | $2.39 $1.99 | ▲ +16.74% | ▲ +23.69% | $1.48 (+38.08%) |
US Market Status
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