debt_leverage_profile
0.41x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Moderate-high; ~$800M net debt with variable-rate exposure means 200bps rise adds ~$16M annual interest burden, pressuring thin EBITDA margins
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
1) Strait of Hormuz for LNG feedstock pricing influence; 2) U.S. Gulf Coast pipeline infrastructure for domestic natural gas supply
Inferred
Agent_Inference
international_expansion_readiness
Minimal sovereign currency risk; ~95% of revenue is U.S.-domestic, with negligible exposure to foreign currency devaluation
Inferred
Agent_Inference
geographic_footprint
Overwhelmingly U.S.-centric (~95%+ revenue domestic); near-zero sovereign currency devaluation exposure in international markets
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Natural Gas, Coal, Uranium, Crude Oil, Copper (grid), Lithium (storage); geopolitical: European gas dependency on Russia exposed structural energy security vulnerabilities.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Natural gas commodity suppliers and compressor equipment OEMs (Caterpillar, Cummins) are significant but substitutable; no single vendor exceeds 30% lock-in
Inferred
Agent_Inference
business_model_type_primary
Minimal cloud infrastructure dependency; operations are physical fueling station networks—cloud termination would disrupt billing/logistics but not core fuel delivery
Inferred
Agent_Inference
business_model_type_secondary
Physical infrastructure operator with fuel distribution; cloud disruption manageable within weeks via alternative providers
Inferred
Agent_Inference
switching_cost_profile
Low API coupling risk; primary operations are physical fuel dispensing with proprietary fleet billing systems, not deeply API-dependent on third-party platforms
Inferred
Agent_Inference
howey_test_risk_index
Very low Howey Test risk; revenue model is straightforward fuel sales and station services—no investment contract or profit-sharing structure present
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Low GDPR exposure (minimal EU operations); moderate CCPA exposure via fleet customer billing data, but not a primary regulatory risk
Inferred
Agent_Inference
antitrust_exposure_flag
Low-moderate; holds significant CNG/RNG fueling market share for heavy trucking but faces competition from diesel and emerging EV fleets
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FERC, NERC, EPA, NRC, State PUCs, DOE; Rate-case lag and clean-energy mandates compress returns on regulated asset base.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
~60-65% recurring via long-term fuel supply agreements and volume contracts; ~35-40% transactional spot fueling sales
Inferred
Agent_Inference
monetization_vector
Volume-based fuel throughput fees plus station construction/O&M service fees; recurring offtake agreements with fleet operators
Inferred
Agent_Inference
pricing_architecture
Cost-plus fuel pricing with long-term fixed-price contract exposure; RNG premium pricing vulnerable to natural gas spot price compression
Inferred
Agent_Inference
pricing_power_rating
Moderate; RNG commands premium over diesel on carbon credit value, but commodity price floors limit sustained independent pricing power
Inferred
Agent_Inference
target_gross_margin_bracket
Gross margin ~15-20%; fuel distribution economics constrained by commodity input costs and station operating expenses
Inferred
Agent_Inference
churn_vulnerability_index
Low free-rider risk; dedicated fueling infrastructure creates physical lock-in for fleet operators with company-built stations on customer premises
Inferred
Agent_Inference
headcount_cost_structure
Sublinear but capital-intensive; doubling revenue requires significant station capex but not proportional headcount—operations are infrastructure-scaled
Inferred
Agent_Inference
marginal_cost_of_growth
High capital cost per new station (~$3-5M); marginal cost of incremental fuel volume through existing stations is near-zero beyond commodities
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; company operates owned/leased stations directly, not a franchise model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC becomes favorable as infrastructure density creates network coverage advantage, but requires ~$10B+ additional station capex
Inferred
Agent_Inference
network_effect_present
Weak direct network effects; more stations increase route coverage value for fleet customers but fuel itself is not a platform with user-to-user value
Inferred
Agent_Inference
asset_efficiency_ratio
-21.3% Return on Assets (Negative equity)
High
SEC-XBRL
recession_resistance_tier
Moderate resilience; heavy trucking volumes decline in recessions but essential freight transport provides partial floor for CNG/RNG demand
Inferred
Agent_Inference
customer_segment_primary
Heavy-duty trucking fleets (Amazon, UPS, Republic Services); top 10 customers likely represent 40-50% of revenue—meaningful concentration risk
Inferred
Agent_Inference
customer_segment_secondary
Municipal transit agencies and waste management fleets; stable government-contract base partially offsets commercial fleet cyclicality
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.34 (HIL — ~34% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
6.0% CapEx / Revenue (Moderate-CapEx)
High
SEC-XBRL
sec_cik
0001368265
High
SEC-EDGAR
ticker
CLNE
High
SEC-EDGAR