Clean Energy Fuels Corp. Q2 2024 10-Q Filed

TL;DR

**CLNE Q2 10-Q: Assets $222.9M, Liabilities $223.3M. Watch revenue closely.**

AI Summary

Clean Energy Fuels Corp. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $222,908,402 and total liabilities of $223,289,936. Revenue from contracts with customers, excluding assessed taxes, was a key financial metric, with the company's fiscal year ending on December 31st.

Why It Matters

This filing provides a snapshot of Clean Energy Fuels Corp.'s financial health and operational status as of Q2 2024, crucial for investors assessing the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The company's liabilities slightly exceed its assets, indicating potential financial strain that warrants investor attention.

Key Numbers

• $222.9B — Total Assets (Financial position as of June 30, 2024)
• $223.3B — Total Liabilities (Financial position as of June 30, 2024)

Key Players & Entities

• Clean Energy Fuels Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240807 (date) — Filing date
• $222,908,402 (dollar_amount) — Total assets
• $223,289,936 (dollar_amount) — Total liabilities

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common stock, $0.0001 par value per share CLNE The Nasdaq

Filing Documents

• clne-20240630x10q.htm (10-Q) — 2557KB
• clne-20240630xex10d1.htm (EX-10.1) — 132KB
• clne-20240630xex10d2.htm (EX-10.2) — 134KB
• clne-20240630xex10d3.htm (EX-10.3) — 115KB
• clne-20240630xex10d5.htm (EX-10.5) — 64KB
• clne-20240630xex10d6.htm (EX-10.6) — 68KB
• clne-20240630xex10d7.htm (EX-10.7) — 70KB
• clne-20240630xex10d8.htm (EX-10.8) — 46KB
• clne-20240630xex10d9.htm (EX-10.9) — 49KB
• clne-20240630xex10d10.htm (EX-10.10) — 49KB
• clne-20240630xex31d1.htm (EX-31.1) — 15KB
• clne-20240630xex31d2.htm (EX-31.2) — 14KB
• clne-20240630xex32d1.htm (EX-32.1) — 15KB
• 0001558370-24-011362.txt ( ) — 12633KB
• clne-20240630.xsd (EX-101.SCH) — 76KB
• clne-20240630_cal.xml (EX-101.CAL) — 86KB
• clne-20240630_def.xml (EX-101.DEF) — 341KB
• clne-20240630_lab.xml (EX-101.LAB) — 624KB
• clne-20240630_pre.xml (EX-101.PRE) — 527KB
• clne-20240630x10q_htm.xml (XML) — 2432KB

—FINANCIAL INFORMATION

PART I.—FINANCIAL INFORMATION 3

—Financial Statements (Unaudited)

Item 1.—Financial Statements (Unaudited) 3

—Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2.—Management's Discussion and Analysis of Financial Condition and Results of Operations 33

—Quantitative and Qualitative Disclosures about Market Risk

Item 3.—Quantitative and Qualitative Disclosures about Market Risk 45

—Controls and Procedures

Item 4.—Controls and Procedures 46

—OTHER INFORMATION

PART II.—OTHER INFORMATION 47

—Legal Proceedings

Item 1.—Legal Proceedings 47

—Risk Factors

Item 1A.—Risk Factors 47

—Unregistered Sales of Equity Securities and Use of Proceeds

Item 2.—Unregistered Sales of Equity Securities and Use of Proceeds 60

—Defaults Upon Senior Securities

Item 3.—Defaults Upon Senior Securities 60

—Mine Safety Disclosures

Item 4.—Mine Safety Disclosures 60

—Other Information

Item 5.—Other Information 60

—Exhibits

Item 6.—Exhibits 60 Unless the context indicates otherwise, all references to "Clean Energy," the "Company," "we," "us," or "our" in this report refer to Clean Energy Fuels Corp. together with its consolidated subsidiaries. This report contains forward-looking statements. See the cautionary note regarding these statements in Part I, Item 2.-Management's Discussion and Analysis of Financial Condition and Results of Operations of this report. We own registered or unregistered trademark rights to Clean Energy. Although we do not use the "" or "" symbol in each instance in which one of our trademarks appears in this report, this should not be construed as any indication that we will not assert our rights thereto to the fullest extent under applicable law. Any other service marks, trademarks and trade names appearing in this report are the property of their respective owners. 2 Table of Contents

—FINANCIAL INFORMATION

PART I.—FINANCIAL INFORMATION

—Financial Statements (Unaudited)

Item 1.—Financial Statements (Unaudited) Clean Energy Fuels Corp. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, except share and per share data; Unaudited) December 31, June 30, 2023 2024 Assets Current assets: Cash, cash equivalents and current portion of restricted cash $ 106,963 $ 125,142 Short-term investments 158,186 126,212 Accounts receivable, net of allowance of $ 1,475 and $ 1,643 as of December 31, 2023 and June 30, 2024, respectively 98,426 92,108 Other receivables 19,770 25,041 Inventory 45,335 49,406 Prepaid expenses and other current assets 41,495 32,975 Total current assets 470,175 450,884 Operating lease right-of-use assets 92,324 99,673 Land, property and equipment, net 331,758 340,278 Notes receivable and other long-term assets, net 35,735 34,501 Investments in other entities 258,773 250,257 Goodwill 64,328 64,328 Intangible assets, net 6,365 6,365 Total assets $ 1,259,458 $ 1,246,286 Liabilities and Stockholders' Equity Current liabilities: Current portion of debt $ 38 $ 43 Current portion of finance lease obligations 1,758 1,923 Current portion of operating lease obligations 6,687 7,678 Accounts payable 56,995 33,842 Accrued liabilities 91,534 91,158 Deferred revenue 4,936 7,794 Derivative liabilities, related party 1,875 — Total current liabilities 163,823 142,438 Long-term portion of debt 261,123 262,912 Long-term portion of finance lease obligations 1,839 1,534 Long-term portion of operating lease obligations 89,065 96,962 Other long-term liabilities 9,961 12,869 Total liabilities 525,811 516,715 Commitments and contingencies (Note 17) Stockholders' equity: Preferred stock, $ 0.0001 par value. 1,000,000 shares authorized; no shares issued and outstanding — — Common stock, $ 0.0001 par value. 454,000,000 shares authorized; 223,026,966 shares and 223,332,5

View Full Filing

View this 10-Q filing on SEC EDGAR