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Reportable Segments and Geographic Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reportable Segments and Geographic Information

Note 19 —Reportable Segments and Geographic Information

The Company operates as one reportable segment. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis.

The CODM uses profitability metrics, including net income/(loss) to evaluate financial performance, as well as Cost of Sales and SG&A (excluding stock compensation) in the achievement towards the Company’s strategy, and to make key operating decisions such as the determination of the markets in which the Company seeks to make capital investments and the allocation of budget between cost of revenues, selling, general and administrative expenses.

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The following table presents selected financial information with respect to the Company’s single reportable segment for the years ended December 31, 2022, 2023 and 2024. As the Company’s single reportable segment represents the consolidated entity, amounts are traceable to the Consolidated Statements of Operations.

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​	​	​	​	​	​	​	​	​	​	​
​	​			2022	​		2023	​		2024
Revenue:	​		​			​			​
Total revenue	(1)	​	$	420,164	​	$	425,159	​	$	415,865
Cost of Sales (excluding depreciation):	(2)	​		​	​		​	​		​
Commodity product cost of sales	​	​	​	182,419	​	​	190,616	​	​	123,999
Other product cost of sales	​	​	​	97,329	​	​	119,285	​	​	125,628
Product cost of sales	​	​	​	279,748	​	​	309,901	​	​	249,627
Service cost of sales	​	​	​	27,993	​	​	33,719	​	​	37,918
​	​	​	​	​	​	​	​	​	​	​
Operating expenses:	​	​			​			​
Selling, general and administrative, excluding stock compensation	​	​	​	82,983	​	​	88,929	​	​	101,031
Stock compensation	​	​	​	26,473	​	​	23,336	​	​	10,803
Selling, general and administrative	​	​	​	109,456	​	​	112,265	​	​	111,834
Depreciation and amortization	​	​	​	54,674	​	​	45,674	​	​	44,737
Impairment of investments in equity securities	​	​	​	—	​	​	—	​	​	8,102
Interest	(3)	​	​	(2,934)	​	​	(11,776)	​	​	(18,174)
Other income (expense), net	​	​	​	95	​	​	165	​	​	106
Loss from equity method investments	​	​	​	(4,824)	​	​	(12,510)	​	​	(26,576)
Loss before income taxes	​	​	​	(59,370)	​	​	(100,521)	​	​	(80,997)
Income tax (expense) benefit	​	​	​	(220)	​	​	423	​	​	(2,692)
Net loss	​	​	​	(59,590)	​	​	(100,098)	​	​	(83,689)
Loss attribute to noncontrolling interest	​	​		857	​	​	601	​		619
Net loss attribute to Clean Energy Corp.	​	​	$	(58,733)	​	$	(99,497)	​	$	(83,070)

(1) The CODM is provided revenue information disaggregated by product and service type in exactly the same manner as provided in footnote 2 - Revenue from Contracts with Customers, Disaggregation of Revenue.

​

The Company had one major customer that accounted for 10% of 2024 consolidated revenue.

​

(2) Costs of sales provided to the CODM are displayed here.  Commodity cost of sales represents costs associated with natural gas and its transportation, and is included in the Product Cost of Sales financial statement caption on the Consolidated Statements of Operations. Total Product Cost of Sales and Service Cost of Sales reconcile to the amounts in the Consolidated Statements of Operations.

​

(3) Interest, net is computed as the net of interest income and interest expense.  Refer to the Consolidated Statements of Operations.

​

​	​	​	​	​	​	​	​	​	​	​
​	​			2022			2023			2024
Interest expense	​	​	$	(6,308)	​	$	(22,924)	​	$	(32,179)
Interest income	​	​	​	3,374	​	​	11,148	​	​	14,005
​	​	​	​	(2,934)	​	​	(11,776)	​	​	(18,174)

​

​

The Company's revenue and long-lived tangible assets, including the Company's operating lease assets recognized on the consolidated balance sheets were located as follows:

​

​	​	​	​	​	​	​	​	​	​
​		2022			2023			2024
Revenue:		​			​			​
United States	​	$	416,975	​	$	418,754	​	$	410,150
Canada	​		3,189	​		6,405	​		5,715
Total revenue	​	$	420,164	​	$	425,159	​	$	415,865
Long-lived assets:	​			​			​
United States	​	$	525,682	​	$	657,397	​	$	691,398
Canada	​		1,902	​		3,827	​		9,882
Total long-lived assets	​	$	527,584	​	$	661,224	​	$	701,280

​

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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