Clear Secure, Inc. (NYSE:YOU) Q2 2023 Earnings Conference Call August 2, 2023 8:00 AM ET Company Participants Caryn Seidman-Becker – Co-Founder, Chairman and Chief Executive Officer Ken Cornick – Co-Founder, President and Chief Financial Officer Conference Call Participants Josh Reilly – Needham Dana Telsey – Telsey Group Scott Devitt – Wedbush Mark Kelley – Stifel Ananda Baruah – Loop Capital Operator Good morning and welcome to Clear's Fiscal Second Quarter 2023 Conference Call. We have with us today, Car ...

Clear Secure, Inc. (NYSE:YOU) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET Company Participants Caryn Seidman-Becker - Co-Founder, Chairman and Chief Executive Officer Ken Cornick - Co-Founder, President and Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Joshua Reilly - Needham & Company David Engel - Wells Fargo Paul Chung - JPMorgan Ananda Baruah - Loop Capital Operator Good morning and welcome to Clear's Fiscal First Quarter 2023 Conference Call. We ha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40568 CLEAR SECURE, INC. (Exact name of registrant as specified in its charter) Delaware 86-2643981 (I.R.S. Em ...

Membership Growth and Retention - Total Cumulative Enrollments increased 97.4% year-over-year to 10.4 million, with Annual CLEAR Plus Net Member Retention rising to 92.3% from 78.8% in 2020[24] - CLEAR has over 15 million members, many of whom are frequent travelers and active consumers, benefiting partners through accelerated adoption rates[47] - The company added approximately 5 million members in 2022, achieving a Lifetime Value to Customer Acquisition Cost ratio of approximately 22 times for members who joined during 2022[55][54] - CLEAR Plus member acquisition channel in airports represented 66%, 58%, and 69% of member acquisitions for the years ended December 31, 2022, 2021, and 2020 respectively[61] - The CLEAR Plus member retention rates are estimated using annual cohorts from 2022[54] Financial Performance - Total Bookings rose 61.6% year-over-year, from $236.0 million to $341.0 million, while total revenue increased 10.0% from $231.0 million in 2020 to $254.0 million in 2021[24] - The company had cash and cash equivalents of $68.9 million as of December 31, 2022[390] - The company held marketable securities totaling $666 million, primarily invested in government securities and corporate notes as of December 31, 2022[392] - A hypothetical 100 basis points increase or decrease in interest rates would result in an unrealized loss or gain of approximately $3.3 million on the fair value of marketable securities[392] Business Model and Strategy - The platform's business model is characterized by efficient member acquisition and high retention rates, with a strong focus on network effects[26] - The company aims to expand CLEAR Plus through airport network expansion and increased market penetration in existing markets[30] - The company plans to launch a TSA PreCheck® enrollment program, which is expected to drive significant growth and revenue opportunities[67] - The company has expanded its partnerships and distribution channels, targeting new airlines, credit card partners, and professional sports leagues[67] Security and Compliance - CLEAR's information security program has been certified at a FISMA High Rating, ensuring high standards of data protection and privacy[36] - The company operates under strict privacy and data security requirements as a HIPAA "business associate" for certain health care partners[74] - The company is subject to significant penalties for non-compliance with data protection laws, which could adversely affect its business[74][76] - The company is subject to various regulatory regimes as it expands internationally, including compliance with the California Privacy Rights Act and the General Data Protection Regulation[74][76] Workforce and Culture - The company has a workforce of 3,056 full-time employees as of December 31, 2022, with significant presence in New York, Los Angeles, and Atlanta[71] - The company emphasizes a culture of ownership and problem-solving among its team members[11] - The company is committed to continuously improving member experience based on feedback[11] - The company has a bias for action, encouraging data-driven decision-making[11] International Expansion - The company aims for international expansion, having already provided services in several countries including Argentina, Brazil, and Spain through its acquisition of Whyline, Inc.[67] - The company has expanded its services to international markets including Argentina, Brazil, and Spain through the acquisition of Whyline, Inc.[75] Capital Structure and IPO Preparation - The company has undergone a reorganization to optimize its capital structure in preparation for its IPO[80] - As of December 31, 2022, the company had no outstanding borrowings under the revolving credit facility[391] - The company operates with a net invested capital of approximately $50 million while maintaining high retention rates and efficient member acquisition[61] Market Presence - As of December 31, 2022, members can access a nationwide network of 48 airports covering 132 lanes and 16 sports and entertainment partners[41] - As of December 31, 2022, approximately 6% of all TSA checkpoint volume went through a CLEAR lane, compared to approximately 4% in December 2021[67] - The company has 47 issued United States patents and 63 patent applications pending as of December 31, 2022[68]

Clear Secure, Inc. (NYSE:YOU) Q4 2022 Earnings Conference Call March 1, 2023 8:00 AM ET Company Participants Caryn Seidman-Becker - Co-Founder, Chairman & Chief Executive Officer Ken Cornick - Co-Founder, President & Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Joshua Reilly - Needham & Company Paul Chung - JPMorgan David Engel - Wells Fargo Ananda Baruah - Loop Capital Operator Good morning and welcome to CLEAR's Fiscal Fourth Quarter and Full Year 2022 Conferenc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40568 CLEAR SECURE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Clear Secure, Inc. (NYSE:YOU) Q3 2022 Results Conference Call November 14, 2022 8:00 AM ET Company Participants Caryn Seidman-Becker - Chairman and CEO Ken Cornick - Co-Founder, President and Chief Financial Officer Conference Call Participants Dana Telsey - Tesley Group Paul Chung - JPMorgan Ananda Baruah - Loop Capital Operator Good morning, and welcome to CLEAR Quarter 3 2022 Earnings Conference Call. We have with us here, Ms. Caryn Seidman-Becker, Co-Founder, Chairman and Chief Executive Officer; and Ke ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40568 CLEAR SECURE, INC. (Exact name of registrant as specified in its charter) Delaware 86-2643981 (State or o ...

Clear Secure, Inc. (NYSE:YOU) Q2 2022 Earnings Conference Call August 15, 2022 8:00 AM ET Company Participants Caryn Seidman-Becker - Chairman & CEO Ken Cornick - President & CFO Conference Call Participants Dana Telsey - Telsey Advisor Group Paul Chung - JPMorgan Michael Turrin - Wells Fargo Securities Brian Essex - Goldman Sachs Ananda Baruah - Loop Capital Markets Operator Good morning and welcome to the Clear Second Quarter 2022 Earnings Conference Call. We have with us here -- with us today, Ms. Caryn ...

C L E A R ° Hello, FILAVIRTUAL Southern California SAN, PSP, ONT Summer Forecast? CLEAR Lanes Ahead Shareholder Letter Q1 2022 Shareholder Letter Q1 2022 First Quarter 2022 Financial Highlights (all figures are for First Quarter 2022 and percentage change is expressed as year-over-year, unless otherwise specified)* Revenue of $90.5 million was up 79.1% while Total Bookings of $107.8 million were up 73.5% Net cash provided by operating activities of $24.9 million; Free Cash Flow of $19.4 million Total Cumula ...