CLEAR Secure (NYSE:YOU) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Q1 beat and upgraded cash guidance: CLEAR reported EPS of $0.38 (beat by $0.03) and revenue of $253M (+19.7% YoY), generated $185.5M free cash flow and raised 2026 FCF guidance to at least $465M while holding about $800M in cash.
• Product and bookings momentum: Memberships hit 41M (+31% YoY) with CLEAR1 bookings roughly 5x last year, eGate coverage above 50% (targeting >80%), faster wait times and expanded airport Concierge, supporting more predictable, contract-backed revenue and higher ARPU.
• Market and shareholder developments: The company declared a $0.15 quarterly dividend (1.0% yield) even as the stock dipped intraday to $58.11; insiders sold ~97,488 shares (~$4.58M) and analyst views remain mixed with several price-target upgrades but at least one underweight call.

CLEAR Secure (NYSE:YOU - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.03, Zacks reports. The business had revenue of $253.00 million during the quarter, compared to the consensus estimate of $244.38 million. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The business's revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share.

Here are the key takeaways from CLEAR Secure's conference call:

• Record Q1 financials — CLEAR finished with 41 million total members, $292M in bookings, $253M revenue (+19.7% YoY), ~31.9% adjusted EBITDA margin, and $185.5M free cash flow while raising 2026 FCF guidance to at least $465M and holding $800M in cash.
• CLEAR1 enterprise/GovTech acceleration — CLEAR1 bookings were ~5x last year with record multiyear contracts, a FedRAMP milestone and a growing pipeline that should increase predictable, contract-backed revenue.
• Travel product momentum — eGate coverage now >50% (targeting >80% by end of Q2), average CLEAR Plus wait times 1 minute, app adoption doubled and Concierge expanded to 32 airports, all driving higher NPS, retention and ARPU.
• Q1 growth was partly boosted by a ~3‑week DHS/TSA shutdown that increased trial enrollments, creating some conversion uncertainty, and macro risks (e.g., oil prices, travel headwinds) could cause short‑term volatility.

CLEAR Secure Price Performance

YOU stock traded down $2.83 during midday trading on Thursday, reaching $58.11. 3,089,372 shares of the company's stock traded hands, compared to its average volume of 1,507,185. CLEAR Secure has a fifty-two week low of $23.88 and a fifty-two week high of $61.68. The business has a 50-day moving average price of $50.71 and a two-hundred day moving average price of $40.19. The company has a market capitalization of $7.75 billion, a P/E ratio of 46.86 and a beta of 1.09.

CLEAR Secure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, June 10th. CLEAR Secure's payout ratio is 53.57%.

More CLEAR Secure News

Here are the key news stories impacting CLEAR Secure this week:

• Positive Sentiment: Q1 beat and stronger guidance — YOU reported Q1 revenue of $253.0M (+19.7% YoY), EPS $0.38 (beat), large bookings growth and raised Q2 revenue guidance to $268–271M and full-year free cash flow guidance to at least $465M. These operational and cash-flow beats support upside. PR Newswire: Q1 2026 Results
• Positive Sentiment: Member and product traction — CLEAR reported 41.0M members (+31% YoY), growth in CLEAR+ active members, eGates rollout and record CLEAR1 bookings, reinforcing recurring revenue and unit economics improvements. Operational Details
• Positive Sentiment: Analyst buy-side upgrades — Needham raised its target to $70 (buy) and Telsey raised to $68 (outperform), both implying material upside versus the prior price and supporting bullish views. Needham Upgrade Telsey Upgrade
• Positive Sentiment: Shareholder returns — Board declared a $0.15 quarterly dividend (payable June 24) and the company returned ~$56.4M in Q1 via dividends, special dividend and modest repurchases, which can support investor demand. Dividend/Capital Return
• Neutral Sentiment: Earnings / call coverage — Multiple transcripts and news summaries (Seeking Alpha, Yahoo, Zacks) provide details investors can use to model margins, bookings cadence and FCF sensitivity. Useful for deeper fundamental analysis but neutral on its own. Earnings Call Transcript Yahoo Earnings Coverage
• Negative Sentiment: Contrarian sell-side view from Wells Fargo — Wells Fargo raised its target to $40 but kept an "underweight" rating; that target implies ~31% downside versus the recent price and likely contributed to selling pressure and increased volatility today. Wells Fargo Note

Insider Buying and Selling at CLEAR Secure

In other news, insider Lynn Haaland sold 11,064 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $47.44, for a total value of $524,876.16. Following the transaction, the insider owned 7,375 shares of the company's stock, valued at approximately $349,870. This trade represents a 60.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Z. Barkin sold 22,885 shares of the company's stock in a transaction on Sunday, March 1st. The stock was sold at an average price of $48.22, for a total transaction of $1,103,514.70. Following the sale, the president directly owned 5,669 shares of the company's stock, valued at approximately $273,359.18. This trade represents a 80.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,488 shares of company stock worth $4,579,078 over the last three months. 39.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CLEAR Secure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its holdings in CLEAR Secure by 249.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 867 shares of the company's stock worth $30,000 after acquiring an additional 619 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of CLEAR Secure by 329.5% during the first quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock worth $25,000 after purchasing an additional 748 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of CLEAR Secure in the first quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new stake in CLEAR Secure during the 4th quarter valued at $109,000. Finally, Vestcor Inc purchased a new stake in CLEAR Secure during the 3rd quarter worth $105,000. 73.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research raised CLEAR Secure from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 20th. Wells Fargo & Company upped their price objective on shares of CLEAR Secure from $33.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday. Weiss Ratings reiterated a "hold (c+)" rating on shares of CLEAR Secure in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of CLEAR Secure from $42.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Finally, Telsey Advisory Group boosted their target price on shares of CLEAR Secure from $62.00 to $68.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, CLEAR Secure currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

About CLEAR Secure

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.

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