Clear Secure Inc
NYSE:YOU
Clear Secure Inc
In the bustling and often fraught environment of modern air travel, Clear Secure Inc. has emerged as a beacon of efficiency and convenience. Founded in 2010, the company has swiftly positioned itself as a vital cog in the machinery of transporting millions worldwide with greater ease and security. Central to its offering is the use of biometric technology to expedite the identification process, reducing the time travelers spend in security lines. This innovation allows members to bypass traditional screening queues by scanning their unique biometric data, such as fingerprints or irises, facilitating a seamless transition through airport checkpoints. Instead of being just another tech firm, Clear has woven itself into the infrastructure of airports across the United States, striking partnerships with an array of airlines and airport authorities to expand its reach.
Clear Secure Inc. operates on a subscription-based model, drawing in revenue by offering annual memberships to frequent travelers. Members pay a fee for the privilege of speedier passage through airport security and have increasingly seen the value in Clear's proposition. The company's business model thrives on the growing consumer demand for convenience and time savings in all facets of travel. Furthermore, beyond merely aviation, Clear has diversified its applications to include enrollment in sports arenas and event spaces, leveraging its cutting-edge technology to streamline entry processes there as well. By continually expanding its services and improving its technological capabilities, Clear Secure Inc. has crafted a robust and recurring revenue stream, cementing its role as a powerhouse in identity assurance and access facilitation.
In the bustling and often fraught environment of modern air travel, Clear Secure Inc. has emerged as a beacon of efficiency and convenience. Founded in 2010, the company has swiftly positioned itself as a vital cog in the machinery of transporting millions worldwide with greater ease and security. Central to its offering is the use of biometric technology to expedite the identification process, reducing the time travelers spend in security lines. This innovation allows members to bypass traditional screening queues by scanning their unique biometric data, such as fingerprints or irises, facilitating a seamless transition through airport checkpoints. Instead of being just another tech firm, Clear has woven itself into the infrastructure of airports across the United States, striking partnerships with an array of airlines and airport authorities to expand its reach.
Clear Secure Inc. operates on a subscription-based model, drawing in revenue by offering annual memberships to frequent travelers. Members pay a fee for the privilege of speedier passage through airport security and have increasingly seen the value in Clear's proposition. The company's business model thrives on the growing consumer demand for convenience and time savings in all facets of travel. Furthermore, beyond merely aviation, Clear has diversified its applications to include enrollment in sports arenas and event spaces, leveraging its cutting-edge technology to streamline entry processes there as well. By continually expanding its services and improving its technological capabilities, Clear Secure Inc. has crafted a robust and recurring revenue stream, cementing its role as a powerhouse in identity assurance and access facilitation.
Strong Q4 & FY Results: CLEAR reported accelerated bookings growth in Q4, reaching over 25% year-over-year, and saw full-year revenue grow nearly 17% to $900.8 million.
Profitability: Adjusted EBITDA margins exceeded 33% in Q4, with record free cash flow of $343.1 million for the year, ahead of prior guidance.
Membership Growth: Total CLEAR Members grew to 38 million (up 31.5%), and active CLEAR+ Members reached 7.6 million (up 6%).
Enterprise Momentum: CLEAR1, the B2B business, delivered its strongest-ever quarter with a record number of enterprise customers signed and more than doubled bookings year-over-year.
Partnerships: The American Express partnership was renewed for multiple years, and new health care partnerships like Mount Sinai were highlighted.
2026 Guidance: For 2026, management expects at least $440 million in free cash flow (up 28%+), top line acceleration, margin expansion, and Q1 revenue of $242–245 million.
Capital Returns: Quarterly dividend increased 20% to $0.15 per share, and share repurchase capacity expanded to $250 million.
