Clear Secure, Inc. operates a secure identity platform under the CLEAR brand name primarily in the United States. It provides secure identity platform, a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members. In addition, it provides RESERVE powered by CLEAR to reservation spot for airport locations; Home to Gate, a feature to help travelers plan and time their trip to the airport; CLEAR1, a B2B offering that extends secure identity platform to partners to create friction-free experiences for their customers; CLEAR ID, a free and mobile digital ID that allow any traveler to verify their identity; CLEAR Concierge which enhances the CLEAR value proposition for high-frequency and premium travelers, as well as travelers requiring additional assistance, such as families and senior citizens; CLEAR Perks, a suite of added benefits that help CLEAR members get an even more seamless experience; TSA PreCheck Enrollment Provided by CLEAR, as well as online renewal services; Sora ID, a one-click know your customer that enables adding know your customer services to platform offerings; and a virtual queuing technology. The company was founded in 2010 and is headquartered in New York, New York. Clear Secure, Inc. is a subsidiary of Alclear Investments, Llc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $901M | $221M | $109M | $343M | 61.4% | 16.9% | -35.7% |
| 2024 | $770M | $150M | $170M | $283M | 85.5% | 25.6% | 503.7% |
| 2023 | $614M | $42M | $28M | $199M | 12.0% | 40.3% | -142.9% |
| 2022 | $437M | $-110M | $-66M | $136M | -22.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 437.43 | 613.58 | 770.49 | 900.78 |
| Operating Revenue | - | 437.43 | 613.58 | 770.49 | 900.78 |
| Cost Of Revenue | - | 161.05 | 231.47 | 281.15 | 320.46 |
| Gross Profit | - | 276.38 | 382.11 | 489.34 | 580.32 |
| Operating Expense | - | 405.44 | 361.97 | 366.15 | 393.84 |
| Research And Development | - | 66.80 | 74.44 | 73.35 | 72.38 |
| Selling General And Administration | - | 319.85 | 265.88 | 266.32 | 286.83 |
| Total Expenses | - | 566.50 | 593.44 | 647.30 | 714.30 |
| Operating Income | - | -129.06 | 20.14 | 123.19 | 186.48 |
| Total Operating Income As Reported | - | -129.06 | 20.14 | 123.19 | 186.48 |
| EBITDA | - | -110.27 | 41.79 | 149.67 | 221.10 |
| Normalized EBITDA | - | -110.27 | 41.79 | 149.67 | 221.10 |
| EBIT | - | -129.06 | 20.14 | 123.19 | 186.48 |
| Interest Income | - | 6.59 | 29.01 | 32.51 | 24.38 |
| Interest Expense | 0.35 | - | - | - | - |
| Net Interest Income | - | 6.59 | 29.01 | 32.51 | 24.38 |
| Other Non Operating Income Expenses | - | 4.98 | 1.46 | -89.07 | -4.79 |
| Other Income Expense | - | 4.98 | 1.46 | -89.07 | -4.79 |
| Interest Income Non Operating | - | 6.59 | 29.01 | 32.51 | 24.38 |
| Interest Expense Non Operating | 0.35 | - | - | - | - |
| Net Non Operating Interest Income Expense | - | 6.59 | 29.01 | 32.51 | 24.38 |
| Pretax Income | - | -117.50 | 50.61 | 66.63 | 206.07 |
| Tax Provision | - | -2.06 | 0.72 | -158.65 | 37.92 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -115.44 | 49.89 | 225.27 | 168.15 |
| Net Income From Continuing And Discontinued Operation | - | -65.57 | 28.11 | 169.68 | 109.17 |
| Net Income From Continuing Operation Net Minority Interest | - | -65.57 | 28.11 | 169.68 | 109.17 |
| Net Income | - | -65.57 | 28.11 | 169.68 | 109.17 |
| Net Income Common Stockholders | - | -65.57 | 28.11 | 169.68 | 109.17 |
| Net Income Including Noncontrolling Interests | - | -115.44 | 49.89 | 225.27 | 168.15 |
| Normalized Income | - | -65.57 | 28.11 | 169.68 | 109.17 |
| Diluted NI Availto Com Stockholders | - | -115.44 | 49.89 | 225.27 | 109.32 |
| Basic Average Shares | 75.52 | 82.12 | 90.60 | 93.90 | - |
| Diluted Average Shares | 75.52 | 82.12 | 91.62 | 144.51 | - |
| Reconciled Depreciation | - | 18.79 | 21.65 | 26.48 | 34.62 |
| Reconciled Cost Of Revenue | - | 161.05 | 231.47 | 281.15 | 320.46 |
| Minority Interests | - | 49.86 | -21.78 | -55.60 | -58.98 |
| Depreciation Amortization Depletion Income Statement | - | 18.79 | 21.65 | 26.48 | 34.62 |
| Depreciation And Amortization In Income Statement | - | 18.79 | 21.65 | 26.48 | 34.62 |
| General And Administrative Expense | - | 278.17 | 222.36 | 217.51 | 232.38 |
| Other Gand A | - | 278.17 | 222.36 | 217.51 | 232.38 |
| Total Other Finance Cost | 0.35 | -6.59 | -29.01 | - | - |
| Selling And Marketing Expense | - | 41.68 | 43.52 | 48.81 | 54.45 |
| Average Dilution Earnings | - | -49.86 | 21.78 | 55.60 | 0.15 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Clear Secure, Inc.this co. | YOU | $7.3B | 66.70β premium | 40.97 | 61.4% | 33.05 |
| Vishay Intertechnology, Inc. | VSH | $8.7B | - | 4.15 | -0.4% | 31.93 |
| MaxLinear, Inc. | MXL | $8.4B | -61.72 | 18.67 | -30.2% | -97.97 |
| Plexus Corp. | PLXS | $7.6B | 44.01 | 5.23 | 11.9% | 26.92 |
| ESCO Technologies Inc. | ESE | $7.6B | 25.28 |
| - |
| - |
| - |
| - |
| - |
| 4.91 |
| 19.4% |
| 31.35 |
| Ralliant Corporation | RAL | $7.0B | -5.72 | 4.28 | -74.8% | -7.39 |
| Paycom Software, Inc. | PAYC | $6.4B | 14.10 | 3.69 | 26.2% | 7.65 |
| ACM Research, Inc. | ACMR | $6.2B | 66.26 | 4.26 | 6.4% | 33.90 |
| Kulicke and Soffa Industries, Inc. | KLIC | $5.6B | 26417.05 | 6.85 | 0.0% | 141.24 |
| Peer Median | - | 25.28 | 4.59 | 3.2% | 29.14 | |