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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
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Clear Secure (YOU) investor relations material
Clear Secure Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
Executive summary
Q2 2025 revenue reached $219.5M, up 18% year-over-year, with bookings of $222.9M and strong member growth; active CLEAR+ members rose to 7.6M, total enrollments to 33.5M.
Net income was $37.9M (17.3% margin), with adjusted EBITDA of $60.1M (27.4% margin), and operating income of $42.6M (19.4% margin).
Product innovation included digital REAL ID, international enrollment, and premium Concierge service, with expansion into new airport locations and international traveler support.
Expanded partnerships in workforce, healthcare, and digital agreements, including Greenhouse, Epic, and DocuSign.
Continued investment in marketing, technology, and partnerships to drive engagement and future growth.
Financial highlights
Adjusted EBITDA reached $60.1M (27.4% margin), up 27% YoY; operating income was $42.6M (19.4% margin).
Free cash flow was $117.9M for Q2 and $209.2M for the first half of 2025; net cash from operations was $123M.
Gross dollar retention for CLEAR+ was 87.3%, with annual member usage at 7.0x.
Returned $42.7M to shareholders via buybacks and dividends; repurchased 1.0M shares at $23.96/share in Q2.
Cash and marketable securities totaled $609M at Q2 end.
Outlook and guidance
Q3 2025 revenue expected at $223M–$226M; bookings at $253M–$258M, with 13.1% YoY growth at midpoint.
Full-year 2025 free cash flow guidance reaffirmed at at least $310M, with expanding adjusted EBITDA margins.
Management expects continued growth in enrollments and platform usage, supported by new partnerships and product innovation.
Sufficient liquidity and cash flow expected to fund operations, dividends, and share repurchases for at least the next 12 months.
Q3 anticipated to be the smallest net adds contributor due to annual billing and seasonality.
Explain CLEAR's Concierge service launch.
How does CLEAR define Total Bookings?
What is driving decline in CLEAR+ member usage?
How will CLEAR market to international travelers?
Discuss the impact of EnVe Pods on cost leverage.
How does CLEAR plan to personalize user experience?
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Next Clear Secure earnings date
Q3 20256 Nov, 2025
Next Clear Secure earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
Clear Secure Inc operates an identity verification platform that expedites security screening processes at airports and other venues. The company's biometric security services use fingerprint and iris recognition technologies to authenticate identities quickly and securely. Clear serves air travel, sports, and entertainment sectors, providing members with faster access through dedicated lanes. The company is headquartered in New York, New York, and its shares are listed on the NYSE.
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