NEW YORK, Feb. 25, 2026 /PRNewswire/ -- Clear Secure, Inc. (NYSE: YOU), the secure identity company, has released financial results for the fourth quarter and full year 2025 on its Investor Relations website at https://ir.clearme.com. Fourth Quarter Financial Highlights (percentage change is expressed as year-over-year, unless otherwise specified) Revenue of $240.8 million was up 16.7%; Total Bookings of $287.1 million increased 25.4%, reaccelerating from prior quarters to the strongest quarterly growth since Q4 2023 Operating income of $53.9 million, representing a 22.4% operating income margin Net income of $46.5 million, representing a 19.3% net income margin Adjusted EBITDA of $79.9 million, representing a 33.2% Adjusted EBITDA margin and 870 basis points of year-over-year margin expansion Earnings per Common Share Basic and Diluted of $0.31 and $0.31 Net cash provided by operating activities of $198.4 million; Free Cash Flow of $187.4 million Full Year Financial Highlights (percentage change is expressed as year-over-year, unless otherwise specified) Revenue of $900.8 million was up 16.9%; Total Bookings of $977.2 million increased 17.2% Operating income of $186.5 million, representing a 20.7% operating income margin Net income of $168.1 million, representing a 18.7% net income margin Adjusted EBITDA of $262.2 million, representing a 29.1% Adjusted EBITDA margin and 480 basis points of year-over-year margin expansion Earnings per Common Share Basic and Diluted of $1.14 and $1.12 Net cash provided by operating activities of $372.5 million; Free Cash Flow of $343.1 million Operational Achievements Total CLEAR Members grew to 38.0 million, up 31.5% year-over-year and Active CLEAR+ Members, which have been recast as described in the Key Performance Indicators section below, grew to 7.6 million in the fourth quarter, up 6.0% year-over-year Renewed multi-year partnership with American Express, continuing to offer CLEAR+ as an embedded benefit on the American Express Consumer, Corporate and Small Business Platinum Card and select other American Express card products 60 CLEAR+ airports and 340 retail locations with TSA PreCheck® Enrollment Provided by CLEAR as of December 31, 2025 eGates launched across 37 airports as of today; on track for network wide rollout in 2026 CLEAR Concierge, a premium, personalized on-demand airport service now offered at 27 airports CLEAR1 continues to build momentum, delivering its largest bookings quarter to date and setting another record for new enterprise customers signed this quarter Capital Allocation Activities Approximately $16.7 million returned to shareholders in the fourth quarter of 2025, related to our regular quarterly dividend of $0.125 per share and distributions Clear Secure, Inc. announced today that its Board of Directors has declared a quarterly cash dividend of $0.15 per share, representing a 20% increase compared to the prior quarterly cash dividend, and a special cash dividend of $0.20 per share, in each case payable on March 24, 2026 to shareholders of record of Class A Common Stock and Class B Common Stock as of the close of business on March 10, 2026 Clear Secure, Inc. further announced today that its Board of Directors authorized a $125.0 million increase to its existing Class A Common Stock share repurchase program, resulting in an aggregate remaining authorization of approximately $250.3 million First Quarter and Full Year 2026 Guidance First quarter 2026 Revenue of $242-245 million, representing 15.2% year-over-year growth at the midpoint First quarter 2026 Total Bookings of $248-253 million, representing 20.9% year-over-year growth at the midpoint Full Year 2026 Free Cash Flow of at least $440 million, representing at least 28.2% year-over-year growth "We exited the year with accelerating top line growth, delivered record full year profitability and free cash flow, and continued to strengthen our member experience while expanding our identity platform.
