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Reportable Segments and Geographic Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Reportable Segments and Geographic Information

Note 20 —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 selling, general and administrative expenses (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 sales, and 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 three months ended March 31, 2025 and 2026. As the Company’s single reportable segment represents the consolidated entity, amounts are traceable to the Company’s Condensed Consolidated Statements of Operations.

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​	​	​	​	​	​	​	​	​
​	​	​	​	​	Three Months Ended
​	​	​	​	​	March 31,
​	​	​	​	​	2025	​	​	2026
Revenue:	​		​	​	​	​	​	​
Total revenue(1)	​	​	​	$	103,764	​	$	117,556
Cost of Sales (excluding depreciation)(2):	​	​	​	​	​	​	​	​
Commodity product cost of sales	​	​	​	​	39,181	​	​	42,471
Other product cost of sales	​	​	​	​	28,665	​	​	31,333
Product cost of sales	​	​	​	​	67,846	​	​	73,804
Service cost of sales	​	​	​	​	8,157	​	​	11,099
​	​	​	​	​	​	​	​	​
Operating expenses:	​	​	​	​	​	​	​	​
Selling, general and administrative, excluding stock compensation	​	​	​	​	25,687	​	​	22,516
Stock compensation	​	​	​	​	1,777	​	​	2,030
Selling, general and administrative	​	​	​	​	27,464	​	​	24,546
Depreciation and amortization	​	​	​	​	62,267	​	​	11,002
Impairment of goodwill	​	​	​	​	64,328	​	​	—
Interest(3)	​	​	​	​	(4,629)	​	​	(4,319)
Other income, net	​	​	​	​	8	​	​	343
Loss from equity method investments	​	​	​	​	(7,044)	​	​	(5,638)
Loss before income taxes	​	​	​	​	(137,963)	​	​	(12,509)
Income tax benefit	​	​	​	​	2,932	​	​	(18)
Net loss	​	​	​	​	(135,031)	​	​	(12,527)
Loss attribute to noncontrolling interest	​	​	​	​	64	​	​	115
Net loss attribute to Clean Energy Corp.	​	​	​	$	(134,967)	​	$	(12,412)

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

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(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 Condensed Consolidated Statements of Operations. Total Product Cost of Sales and Service Cost of Sales reconcile to the amounts under the corresponding caption in the Condensed Consolidated Statements of Operations.

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

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​	​	​	​	​	​	​	​	​
​	​	​	​	​	Three Months Ended
​	​	​	​	​	March 31,
​	​	​	​	​	2025	​	​	2026
Interest expense	​	​	​	$	(7,528)	​	$	(5,701)
Interest income	​	​	​	​	2,899	​	​	1,382
​	​	​	​	​	(4,629)	​	​	(4,319)

​

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

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​	​	​	​	​	​	​
​	​ ​ ​	Three Months Ended
​	​	March 31,
​	​	2025		​	2026
Revenue:		​	​		​	​
United States	​	$	102,672	​	$	114,560
Canada	​		1,092	​		2,996
Total revenue	​	$	103,764	​	$	117,556

​

​	​	​	​	​	​	​
​	​	Year Ended		​	Three Months Ended
​	​	December 31,		​	March 31,
​	​	2025		​	2026
Long-lived assets:	​		​	​		​
United States	​	$	582,414	​	$	584,307
Canada	​		13,847	​		14,137
Total long-lived assets	​	$	596,261	​	$	598,444

​

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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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