NYSE$YOU
Clear Secure Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
CLEAR's business accelerated driven by travel recovery, new partnerships, and demand for secure digital identity and health solutions.
Clear Secure, Inc. reported a strong performance in Q3 2021, with revenue up 20% and total bookings up 89% year over year. The company saw significant growth in enrollments and platform usage, driven by the travel rebound and demand for its secure digital identity and health solutions. CLEAR is emerging as a trusted solution for vaccination and testing credential management.
- Revenue increased by 20% to $67.6 million, and Total Bookings increased by 89% to $99.3 million.
- Total Cumulative Enrollments reached 8.1 million, up 58% year-over-year.
- Annual CLEAR Plus Net Member Retention increased to 87.4%.
- Total Cumulative Platform Uses reached 72.2 million, up 27% year-over-year.
Headline financials
Revenue & EPS history
Clear · Revenue · Quarterly
$67.6M
Forward guidance
The company expects fourth quarter 2021 revenue of $77.5-78.5 million and Total Bookings of $98-102 million. The revenue and Total Bookings guidance exclude any contribution from the launch of our TSA PreCheck enrollment service, which we now expect in the first several months of 2022.
Tailwinds
- Expected revenue of $77.5-78.5 million for Q4 2021.
- Total Bookings expected to be $98-102 million for Q4 2021.
- Positive variances in Total Bookings and enrollments may lead to near term positive variances in profitability metrics.
- Positive variances in Total Bookings and enrollments may lead to potentially positively benefiting operating cash flow.
- TSA PreCheck Bookings will be recognized as revenue in the quarter in which they are received.
Headwinds
- Certain expenses such as Cost of Revenue Share, Sales and Marketing and components of General and Administrative have variable components that can fluctuate based on the level of Total Bookings and new enrollments in the quarter.
- Positive variances in Total Bookings and enrollments may lead to near term negative variances in profitability metrics.
- The revenue and Total Bookings guidance exclude any contribution from the launch of our TSA PreCheck enrollment service, which we now expect in the first several months of 2022.
- We will continue to incur operating expenses in the fourth quarter associated with the future launch of this program.
- Uncertainty related to the Delta variant.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
+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
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| 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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