Core Points - CLEAR has expanded its CLEAR+ service to include travelers from the UK, Canada, Australia, and New Zealand, enhancing the airport experience for international travelers [1][3] - The service allows travelers to enroll online or in person, providing immediate access to over 150 CLEAR lanes in U.S. airports, thereby reducing airport stress [2] - CLEAR has over 33 million members, with more than 7.6 million in the CLEAR+ network, and operates in 59 airports across the U.S., positioning itself as a trusted partner for travelers [3][5] Company Overview - CLEAR's mission focuses on strengthening security and creating frictionless experiences for its users, transforming how people travel and interact in various environments [5] - The company emphasizes privacy, ensuring that members control their own information and that biometric or sensitive personal data is not sold [5]

Core Viewpoint - Clear Secure (YOU) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][3]. Earnings Estimate Revisions - The rising trend in earnings estimate revisions reflects growing analyst optimism regarding Clear Secure's earnings prospects, which is expected to positively impact its stock price [2]. - For the current quarter, the earnings estimate is $0.27 per share, a decrease of 10.0% from the previous year, but the Zacks Consensus Estimate has increased by 5.94% over the last 30 days with no negative revisions [5]. - For the full year, the earnings estimate stands at $1.07 per share, representing a 40.6% decline from the previous year, yet there has been a positive trend in estimate revisions with three estimates moving up and no negative revisions [6]. Zacks Rank and Performance - Clear Secure has achieved a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, indicating strong potential for outperformance [7]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 2008, suggesting a strong track record of success [3]. - The stock has appreciated by 11.7% over the past four weeks, indicating investor confidence in its earnings growth prospects [8].

Core Insights - Nordic and CLEAR have formed a partnership to enhance healthcare information security and streamline access for patients and providers [1][3] - The collaboration aims to address the challenges healthcare organizations face in modernizing their systems while ensuring security and efficiency [1][3] Company Overview - Nordic is a global health and technology consulting company with over 3,300 professionals, supporting more than 700 healthcare organizations worldwide [4] - CLEAR is a secure identity company that provides a reusable identity platform, CLEAR1, compliant with NIST IAL2/AAL2 standards [2] Partnership Details - The partnership will leverage CLEAR's identity platform to simplify and secure user experiences for both patients and providers [1][2] - The goal is to reduce administrative workloads and cybersecurity risks associated with manual identity verification processes [1][3] Benefits of the Collaboration - Patients will experience streamlined access to health information and services without repeated identity checks [3] - Providers can quickly verify individuals, allowing them to focus on delivering care without administrative delays [3]

Core Insights - CLEAR is expanding its identity verification capabilities through integration with Epic's EpicCare Link, aimed at enhancing account creation and recovery workflows for community health providers [1][4][5] - The integration is part of CLEAR's broader strategy to secure every access point in the healthcare journey, providing seamless identity experiences for both patients and providers [3][6] - CLEAR's identity verification integration for MyChart is also under development, expected to be available with the November 2025 version of Epic [2] Integration Details - The integration will allow users to verify their identity through a secure, self-service process, eliminating the need for manual reviews and paper forms, thus reducing administrative burdens [4][5] - CLEAR's platform supports IAL2 standards and advanced verification protocols, ensuring compliance and security while modernizing access experiences [5][6] Market Position - CLEAR has over 33 million members and is positioned as a foundational identity layer for healthcare, helping health systems modernize infrastructure and reduce risks [6][8] - The integration with Epic is expected to streamline patient check-in processes and enhance the overall efficiency of healthcare organizations [3][4]

Financial Data and Key Metrics Changes - The company reported revenue of $219.5 million, representing a 17.5% growth year-over-year [16] - Total bookings reached $222.9 million, reflecting a 13.1% increase [16] - Free cash flow was $117.9 million, showing a 37.1% year-over-year growth [23] Business Line Data and Key Metrics Changes - Active Clear Plus members grew to 7.6 million, up 7.5% year-over-year [17] - The TSA PreCheck business expanded significantly, operating 231 enrollment locations, nearly double the count from the previous quarter [18] - Gross dollar retention improved to 87.3%, up 20 basis points sequentially [18] Market Data and Key Metrics Changes - Total members reached 33.5 million, an increase of 38.2% year-over-year [20] - The company signed over 25 ClearOne deals in Q2, marking a record for both the number of deals and aggregate contract value [20] Company Strategy and Development Direction - The company is focused on expanding its Clear Plus service to international travelers, enhancing its total addressable market (TAM) [7][17] - Clear Concierge, a premium on-demand service, is being introduced to improve member experience and increase revenue per member [8][19] - The company aims to modernize the travel experience through partnerships with the TSA and the aviation community, emphasizing public-private partnerships [8][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the travel industry's trajectory, noting record travel volume despite a flat overall travel environment [60] - The administration's focus on improving airport experiences aligns with the company's goals, providing opportunities for innovation and modernization [41][43] - The company anticipates continued growth in adjusted EBITDA margins and free cash flow for the full year [24] Other Important Information - The company is now a certified REAL ID issuer, allowing travelers to meet federal identification standards through the Clear app [10][11] - The introduction of Clear ID aims to create a mobile-first identity credential recognized beyond travel [11] Q&A Session Summary Question: International enrollment process and requirements - The enrollment process for international travelers will mirror the domestic one-step enrollment, utilizing e-passport capabilities [28] Question: Impact of recent price increases on retention - Retention has been as expected following the recent coordinated price increases, with a focus on optimizing bookings [34][35] Question: Administration's focus on airport experience improvements - The administration is focused on security, traveler delight, and public-private partnerships, which positions the company favorably [41][43] Question: Drivers behind gross dollar retention increase - Gross dollar retention increased due to retention and pricing impacts, with no significant effect from Real ID in the quarter [45] Question: Adoption expectations for international travelers - Pricing for international travelers will remain the same as in the U.S., with significant opportunities for adoption through partnerships [50][51] Question: Travel demand outlook for the second half of the year - The company remains optimistic about travel demand, expecting to penetrate both domestic and international markets [60][61]

Financial Data and Key Metrics Changes - The company reported revenue of $219.5 million, representing a 17.5% growth year-over-year [17] - Total bookings reached $222.9 million, reflecting a 13.1% increase [17] - Free cash flow was $117.9 million, marking a 7.3% year-over-year growth [24] Business Line Data and Key Metrics Changes - Active Clear Plus members grew to 7.6 million, up 7.5% year-over-year [17] - The TSA PreCheck business expanded significantly, operating 231 enrollment locations, nearly double the count from the previous quarter [18] - Gross dollar retention improved to 87.3%, up 20 basis points sequentially [18] Market Data and Key Metrics Changes - Total members reached 33.5 million, a 38.2% increase year-over-year [21] - The company signed over 25 ClearOne deals in Q2, achieving record numbers in both the number of deals and aggregate contract value [21] Company Strategy and Development Direction - The company is focused on expanding its Clear Plus service to international travelers, enhancing its total addressable market (TAM) [7][17] - Clear Concierge, a premium on-demand service, is being introduced to improve member experience and increase revenue per member [20] - The company aims to modernize the travel experience through partnerships with TSA and the aviation community, emphasizing public-private partnerships [8][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the travel industry's trajectory, noting that despite flat travel volumes, Clear achieved record travel volume [62] - The administration's focus on improving airport experiences aligns with the company's goals, and management is excited about potential partnerships to drive innovation [42][43] - The company anticipates expanding adjusted EBITDA margins year-over-year and reaffirmed free cash flow guidance of at least $310 million for the year [25] Other Important Information - The company is now a certified REAL ID issuer, allowing travelers to meet federal identification standards through the Clear app [11][12] - The operating income was $42.6 million, representing a 19.4% operating margin, with significant margin expansion [22] Q&A Session Summary Question: Can you provide more details on the international opportunity and enrollment process? - The enrollment process for international travelers will mirror the domestic one-step enrollment, utilizing e-passport capabilities [27] Question: How do you expect retention to be affected by the recent price increases? - Retention has been as expected following the July 1 price increase, with a more coordinated pricing strategy in place [33][34] Question: What is the administration focused on regarding airport experience improvements? - The administration is focused on security, traveler delight, and modernizing airports through public-private partnerships, which positions Clear favorably [41][43] Question: What factors contributed to the increase in gross dollar retention? - The increase in gross dollar retention was influenced by retention and pricing actions, with a modest benefit from the previous quarter's ID upgrades [45] Question: How does the company view the macro environment and travel demand for the second half of the year? - The company remains optimistic about travel demand, noting that it continues to penetrate the U.S. travel population effectively [62]

Table of Contents CLEAR SECURE, INC. (Exact name of registrant as specified in its charter) 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, 2025 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 (I.R.S. Employer Identification ...

Clear Secure (YOU) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of +13.04%. A quarter ago, it was expected that this airport security company would post earnings of $0.3 per share when it actually produced earnings of $0.32, delivering a surprise of +6.67%. Over the last four quarte ...

CLEAR Announces Second Quarter 2025 Financial Results Capital Allocation Activities Third Quarter and Full Year 2025 Guidance NEW YORK, August 5, 2025 – Clear Secure, Inc. (NYSE: YOU), the secure identity platform, has released financial results for the second quarter of fiscal year of 2025 on its Investor Relations website at https://ir.clearme.com. Second Quarter Financial Highlights (percentage change is expressed as year-over-year, unless otherwise specified) Operational Achievements "We delivered stron ...

Core Insights - Clear Secure, Inc. reported strong financial results for Q2 2025, with significant growth in revenue, bookings, and free cash flow, indicating robust business momentum and innovation in their secure identity platform [5][7]. Financial Highlights - Revenue reached $219.5 million, up 17.5% year-over-year [7]. - Total bookings were $222.9 million, reflecting a 13.1% increase year-over-year [7]. - Operating income was $42.6 million, with a margin of 19.4% [7]. - Net income stood at $37.9 million, representing a net income margin of 17.3% [7]. - Adjusted EBITDA was $60.1 million, with an adjusted EBITDA margin of 27.4% [7]. - Free cash flow amounted to $117.9 million [7]. Operational Achievements - Active CLEAR+ members grew to 7.6 million, a 7.5% increase year-over-year [7]. - The company expanded its CLEAR+ service in the U.S. for international travelers from the U.K., Canada, Australia, and New Zealand [7]. - A premium, personalized Concierge service was launched in July 2025 [7]. - CLEAR ID is expected to be launched as a REAL ID for all U.S. travelers this month [7]. Capital Allocation Activities - The company repurchased 1.0 million shares at an average price of $23.96 per share during Q2 2025 [7]. - Approximately $42.7 million was returned to shareholders in Q2 2025, including $24.6 million under the share repurchase program and $18.1 million in dividends [7]. Guidance - For Q3 2025, revenue is projected to be between $223 million and $226 million, indicating a 13.1% year-over-year growth at the midpoint [7]. - Total bookings for Q3 2025 are expected to be between $253 million and $258 million, representing a 12.3% year-over-year growth at the midpoint [7]. - Full-year 2025 free cash flow expectations are reaffirmed at a minimum of $310 million [7].