
Clear Secure, Inc.
NYSE•YOU
CEO: Ms. Caryn Gail Seidman-Becker
Sector: Technology
Industry: Software - Application
Listing Date: 2021-06-30
Clear Secure, Inc. operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members. In addition, it provides RESERVE powered by CLEAR, a virtual queuing technology that provides users with the ability to book a dedicated time slot to go through security at the airport; CLEAR Verified, a B2B offering that extends secure identity platform to partners to create friction-free experiences for their customers; TSA PreCheck Enrollment Provided by CLEAR, as well as online renewal services; Atlas Certified, an automated solution to verify professional licenses and certification data across industries; and Sora ID that enables adding know your customer services to platform offerings, as well as virtual queuing technology that enables customers to manage lines. The company was founded in 2010 and is headquartered in New York, New York. Clear Secure, Inc. is a subsidiary of Alclear Investments, Llc.
Contact Information
Market Cap
$3.50B
P/E (TTM)
15.3
41.9
Dividend Yield
2.1%
52W High
$39.00
52W Low
$21.67
52W Range
3.8
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 3.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024
Financial Dashboard
Q3 2025 Data
Revenue
$229.19M+15.51%
4-Quarter Trend
EPS
$0.29+16.00%
4-Quarter Trend
FCF
-$53.47M+42.23%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Revenue Growth Strong Nine months revenue reached $660.0M USD, marking a solid 17% increase over prior year period driven by member growth.
Operating Income Soars Operating income for nine months totaled $132.6M USD, significantly increasing by 49% due to improved expense leverage.
Enrollments Surge 35% Total Cumulative Enrollments hit 35,751K as of September 30, 2025, reflecting 35% growth year-over-year from new members.
Strong Free Cash Flow Nine months Free Cash Flow was $155.7M USD, showing positive trajectory and strong operational cash conversion.
Risk Factors
Retention Rate Declines Annual CLEAR+ Gross Dollar Retention fell to 86.9% from 89.0%, driven primarily by lower pricing increases compared to prior year.
Strategic Investment Impairment Recorded $4.7M impairment on strategic investment during June 2025, impacting Other Income (Expense), net results for the period.
Increased Operating Costs Cost of direct salaries and benefits rose 17% for nine months due to wage increases and compensation structure changes.
Higher Effective Tax Rate Effective tax rate for Q3 2025 jumped to 25.8% from 11.1% in Q3 2024 due to changes in deferred tax assets.
Outlook
Focus on Platform Engagement Future success depends on accelerating Platform Uses growth and maintaining compelling benefits to drive member retention rates.
Share Repurchase Availability $126.5M remains authorized for Class A Common Stock repurchases; $126.3M spent year-to-date on retirements.
Partner Expansion Strategy Growth strategy relies on maintaining existing partnerships and creating new revenue streams via per-use transaction fees.
Upcoming Quarterly Dividend Board declared Q4 2025 dividend of $0.125 per share, funded by proportionate cash distributions from Alclear.
Peer Comparison
Revenue (TTM)
$1.14B
ALRM$991.77M
YOU$866.30M
Gross Margin (Latest Quarter)
ALRM90.5%
YOU86.2%
82.2%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| AGYS | $3.63B | 148.3 | 8.8% | 4.9% |
| INTA | $3.53B | -125.7 | -5.7% | 2.0% |
| YOU | $3.50B | 15.3 | 157.3% | 0.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+3.6%
Moderate Growth
4Q Net Income CAGR
-35.1%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 6, 2025|Revenue: $229.19M+15.5%|EPS: $0.29+16.0%MissForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 5, 2025|Revenue: $219.47M+17.5%|EPS: $0.26+0.0%BeatForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $211.37M+18.1%|EPS: $0.26+30.0%MissForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 26, 2025|Revenue: $770.49M+25.6%|EPS: $1.81+483.9%BeatForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 7, 2024|Revenue: $198.42M+23.7%|EPS: $0.25+47.1%MissForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 6, 2024|Revenue: $186.75M+24.6%|EPS: $0.26+178.1%MeetForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 8, 2024|Revenue: $179.05M+35.3%|EPS: $0.20-318.8%BeatForm 10-K - FY 2023
Period End: Dec 31, 2023|Filed: Feb 28, 2024|Revenue: $613.58M+40.3%|EPS: $0.31+122.0%Beat