NYSE$YOU

Clear Secure Inc · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

Clear Secure Inc reported Q2 2025 results with revenue growth driven by CLEAR+ membership expansion.

Clear Secure Inc achieved revenue of $219.5 million in Q2 2025, up 18% year-over-year, supported by a 7% increase in Active CLEAR+ Members to 7.6 million. Net income reached $37.9 million with operating income of $42.6 million. The company continued to expand its secure identity platform across aviation and non-aviation channels.

  • Revenue grew 18% to $219.5 million, primarily from CLEAR+ subscriptions and price increases.
  • Active CLEAR+ Members increased 7% to 7.6 million, with Annual CLEAR+ Gross Dollar Retention at 87.3%.
  • Total Bookings rose 13% to $222.9 million, reflecting strong member acquisition and retention.
  • Net income was $37.9 million and operating income $42.6 million, with Adjusted EBITDA margin improving to 27.4%.

Headline financials

Total Revenue

$219M

Previous: $187M+17.5%
EPS (adj)

$0.26

Previous: $0.26+0.0%
Total Bookings

$223M

Previous: $197M+13.1%
Total Cumulative Enrollments

33.5M

Previous: 24.2M+38.2%
Total Cumulative Platform Uses

264.8M

Previous: 206.7M+28.1%
Active CLEAR+ Members

7.6M

Previous: 7.1M+7.5%
Annual CLEAR+ Gross Dollar Retention

87.3%

Previous: 89.3%-2.2%
Annual CLEAR+ Member Usage

7

Previous: 7.4-5.4%
Capital Expenditures

-$12.1M

Previous: -$7.22M-68.3%
Net Income

$24.7M

Previous: $24.1M+2.5%
Operating Income

$42.6M

Previous: $30.3M+40.3%

Revenue & EPS history

Clear · Revenue · Quarterly

$219M

Q2 2025+17.5%vs Q2 2024
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

+2.3%

Avg return

Earnings day

+4.8%

Avg return

5 days after

+3.4%

Avg return

30 days after

53%

10 / 19 earnings

Positive

+39.3%

Q4 2025

Best reaction

-10.7%

Q2 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
Q1 2026+3.7%-3.3%-8.3%
Q4 2025+39.3%+43.5%+41.7%
Q3 2025+0.8%+17.2%+5.4%
Q1 2025-0.2%-4.2%+2.7%
Q4 2024-6.5%+0.0%+11.7%
Q3 2024-0.3%-24.6%-25.7%
Q2 2024-9.6%+13.3%+42.3%
Q1 2024+0.2%-3.8%-5.4%
Q4 2023+4.5%+2.7%+15.5%
Q3 2023-1.0%+10.1%+25.1%
Q2 2023-0.1%-0.7%-5.7%
Q1 2023+3.7%-1.1%+2.5%
Q4 2022-6.2%-4.6%-14.9%
Q3 2022+2.9%+25.1%+22.9%
Q2 2022+3.4%-5.1%-14.3%
Q1 2022+12.3%+36.6%-7.8%
Q4 2021+10.0%+14.0%+34.3%
Q3 2021-2.2%-14.2%-41.8%
Q2 2021-10.7%-9.0%-15.5%
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020

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