They want to leave their front door and be at their gate with as little hassle as possible. To achieve this, we have doubled down on innovation with our relaunched mobile app, scaling the Clear Concierge program, and our eGate rollout with more to come. Our new mobile app reflects our obsession with the frictionless member experience. Just one tap and you are in. Seamlessly connecting traffic, the speedy Clear lane, and the walk to your gate, you can know exactly when to leave to get to your gate perfectly ...

Core Insights - Clear Secure, Inc. reported strong financial results for Q4 and full year 2025, with significant growth in revenue, net income, and free cash flow, indicating a robust operational performance and market demand for its secure identity services [1][2]. Financial Highlights - Q4 2025 revenue reached $240.8 million, a 16.7% increase year-over-year, with total bookings of $287.1 million, up 25.4% [1]. - Full year 2025 revenue was $900.8 million, reflecting a 16.9% growth compared to the previous year, with total bookings increasing by 17.2% to $977.2 million [1]. - Net income for Q4 was $46.5 million, representing a 19.3% net income margin, while full year net income was $168.1 million, with an 18.7% margin [1][2]. - Adjusted EBITDA for Q4 was $79.9 million, yielding a 33.2% margin, and for the full year, it was $262.2 million, with a 29.1% margin [1][2]. Operational Achievements - The company achieved its largest bookings quarter to date and signed a record number of new enterprise customers [1]. - CLEAR Concierge service is now available at 27 airports, and eGates have been launched across 37 airports, with plans for a network-wide rollout in 2026 [1]. - Total CLEAR Members grew to 38 million, a 31.5% increase year-over-year, with Active CLEAR+ Members reaching 7.6 million, up 6.0% [1][2]. Capital Allocation Activities - The Board of Directors authorized a $125 million increase to the existing share repurchase program, totaling approximately $250.3 million remaining [1]. - A quarterly cash dividend of $0.15 per share was declared, a 20% increase from the previous dividend, along with a special cash dividend of $0.20 per share [1]. Guidance for 2026 - The company anticipates full year 2026 free cash flow of at least $440 million, representing a minimum of 28.2% year-over-year growth [1]. - For Q1 2026, total bookings are expected to be between $248 million and $253 million, indicating a 20.9% year-over-year growth at the midpoint [1].

Q2 FY26 Investor Presentation August 26, 2025 © Okta and/or its affiliates. All rights reserved. © Okta and/or its affiliates. All rights reserved. Confidential Information of Okta – For Recipient's Internal Use Only. Safe Harbor This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, business strategy and plans, market trends a ...

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]