Clear Secure Inc Financials
This page shows Clear Secure Inc (YOU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Clear Secure Inc has an operating margin of 16.0%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 80/100, reflecting efficient cost management and pricing power. This is up from 3.3% the prior year.
Clear Secure Inc's revenue surged 25.6% year-over-year to $770.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Clear Secure Inc has elevated debt relative to equity (D/E of 4.82), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Clear Secure Inc's current ratio of 1.03 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.
Clear Secure Inc converts 36.8% of revenue into free cash flow ($283.7M). This strong cash generation earns a score of 100/100.
Clear Secure Inc earns a strong 85.5% return on equity (ROE), meaning it generates $86 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 12.0% the prior year.
Clear Secure Inc scores 3.16, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.3B) relative to total liabilities ($957.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Clear Secure Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Clear Secure Inc generates $1.74 in operating cash flow ($295.7M OCF vs $169.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Clear Secure Inc generated $770.5M in revenue in fiscal year 2024. This represents an increase of 25.6% from the prior year.
Clear Secure Inc's EBITDA was $149.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 258.2% from the prior year.
Clear Secure Inc generated $283.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 42.2% from the prior year.
Clear Secure Inc reported $169.7M in net income in fiscal year 2024. This represents an increase of 503.7% from the prior year.
Clear Secure Inc held $66.9M in cash against $0 in long-term debt as of fiscal year 2024.
Clear Secure Inc's operating margin was 16.0% in fiscal year 2024, reflecting core business profitability. This is up 12.7 percentage points from the prior year.
Clear Secure Inc's net profit margin was 22.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 17.4 percentage points from the prior year.
Clear Secure Inc's ROE was 85.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 73.5 percentage points from the prior year.
Clear Secure Inc invested $73.4M in research and development in fiscal year 2024. This represents a decrease of 1.5% from the prior year.
Clear Secure Inc spent $272.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 291.7% from the prior year.
Clear Secure Inc invested $12.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 53.0% from the prior year.
YOU Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $229.2M+4.4% | $219.5M+3.8% | $211.4M+23.6% | $171.0M+6.6% | $160.4M+7.0% | $149.9M+13.2% | $132.4M+3.2% | $128.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $18.0M-1.3% | $18.2M-4.1% | $19.0M+3.3% | $18.4M+56.1% | $11.8M-47.2% | $22.3M+1.7% | $21.9M+7.3% | $20.4M |
| SG&A Expenses | $58.8M+0.5% | $58.5M+6.9% | $54.7M+5.2% | $52.0M-7.3% | $56.1M-0.1% | $56.1M-3.3% | $58.1M-23.2% | $75.7M |
| Operating Income | $52.6M+23.6% | $42.6M+13.8% | $37.4M+138.2% | $15.7M-18.6% | $19.3M+8784.3% | $217K+101.4% | -$15.1M+53.0% | -$32.0M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $15.7M+144.6% | $6.4M+18.6% | $5.4M+4544.3% | -$122K-116.2% | $754K+257.3% | $211K+277.3% | -$119K+92.9% | -$1.7M |
| Net Income | $28.3M+14.4% | $24.7M-2.7% | $25.4M+81.8% | $14.0M-8.9% | $15.3M+282.6% | $4.0M+176.8% | -$5.2M+53.9% | -$11.3M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
YOU Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B-4.6% | $1.2B+6.2% | $1.1B+6.3% | $1.0B-1.6% | $1.1B-2.2% | $1.1B-0.7% | $1.1B+5.4% | $1.0B |
| Current Assets | $589.0M-9.9% | $653.6M+12.3% | $581.9M-24.4% | $770.0M-1.4% | $781.0M-3.2% | $806.5M+2.8% | $784.6M+5.8% | $741.6M |
| Cash & Equivalents | $75.8M-15.2% | $89.3M+2.0% | $87.6M+51.2% | $57.9M-8.9% | $63.5M+11.0% | $57.2M+46.5% | $39.1M+0.4% | $38.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.6M+54.7% | $1.1M+105.9% | $512K-2.7% | $526K-28.5% | $736K-20.8% | $929K-3.4% | $962K-17.7% | $1.2M |
| Goodwill | $62.7M0.0% | $62.7M-0.1% | $62.8M0.0% | $62.8M0.0% | $62.8M+6.7% | $58.8M0.0% | $58.8M0.0% | $58.8M |
| Total Liabilities | $959.7M-8.9% | $1.1B+6.9% | $985.3M+45.8% | $675.8M+12.0% | $603.6M-3.3% | $624.1M+4.9% | $595.1M-20.3% | $746.5M |
| Current Liabilities | $632.7M-15.6% | $749.6M+8.9% | $688.4M+24.7% | $552.0M+15.4% | $478.3M-3.7% | $496.8M+6.9% | $464.6M+16.9% | $397.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $148.6M+22.4% | $121.3M+4.0% | $116.7M-50.0% | $233.3M-15.4% | $275.9M+3.4% | $266.9M-10.1% | $296.8M+2.0% | $291.1M |
| Retained Earnings | $101.2M+19.0% | $85.1M+17.9% | $72.1M+197.9% | -$73.7M+15.9% | -$87.7M+14.9% | -$103.0M+3.7% | -$107.0M-5.1% | -$101.8M |
YOU Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$47.3M-138.5% | $123.0M+25.1% | $98.3M+4.5% | $94.1M+2036.9% | -$4.9M-106.5% | $75.0M+23.5% | $60.8M-23.4% | $79.3M |
| Capital Expenditures | $6.2M+21.9% | $5.1M-28.5% | $7.1M+89.9% | $3.7M-7.6% | $4.0M-51.8% | $8.4M-10.9% | $9.4M+13.5% | $8.3M |
| Free Cash Flow | -$53.5M-145.3% | $117.9M+29.2% | $91.3M+1.0% | $90.4M+1116.3% | -$8.9M-113.4% | $66.6M+29.8% | $51.3M-27.7% | $71.0M |
| Investing Cash Flow | $56.4M+173.5% | -$76.7M-182.2% | $93.3M+686.7% | $11.9M-61.3% | $30.6M+514.2% | -$7.4M+85.4% | -$50.6M+84.6% | -$327.7M |
| Financing Cash Flow | -$22.6M+49.7% | -$45.0M+73.7% | -$171.3M-52.8% | -$112.1M-396.9% | -$22.6M+68.8% | -$72.3M-694.0% | -$9.1M+77.9% | -$41.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $24.6M-75.8% | $101.7M+650.9% | $13.5M+22.9% | $11.0M-71.5% | $38.6M+496.9% | $6.5M | $0 |
YOU Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 23.0%+3.6pp | 19.4%+1.7pp | 17.7%+8.5pp | 9.2%-2.8pp | 12.0%+11.9pp | 0.1%+11.5pp | -11.4%+13.6pp | -25.0% |
| Net Margin | 12.3%+1.1pp | 11.3%-0.8pp | 12.0%+3.9pp | 8.2%-1.4pp | 9.6%+6.9pp | 2.7%+6.6pp | -4.0%+4.9pp | -8.8% |
| Return on Equity | 19.0%-1.3pp | 20.4%-1.4pp | 21.8%+15.8pp | 6.0%+0.4pp | 5.6%+4.1pp | 1.5% | N/A | N/A |
| Return on Assets | 2.5%+0.4pp | 2.1%-0.2pp | 2.3%+0.9pp | 1.3%-0.1pp | 1.5%+1.1pp | 0.4%+0.9pp | -0.5%+0.6pp | -1.1% |
| Current Ratio | 0.93+0.1 | 0.87+0.0 | 0.85-0.5 | 1.39-0.2 | 1.630.0 | 1.62-0.1 | 1.69-0.2 | 1.87 |
| Debt-to-Equity | 6.46-2.2 | 8.68+0.2 | 8.44+5.5 | 2.90+0.7 | 2.19-0.2 | 2.34+0.3 | 2.01-0.6 | 2.56 |
| FCF Margin | -23.3%-77.1pp | 53.7%+10.5pp | 43.2%-9.7pp | 52.9%+58.4pp | -5.5%-50.0pp | 44.5%+5.7pp | 38.8%-16.6pp | 55.4% |
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Frequently Asked Questions
What is Clear Secure Inc's annual revenue?
Clear Secure Inc (YOU) reported $770.5M in total revenue for fiscal year 2024. This represents a 25.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Clear Secure Inc's revenue growing?
Clear Secure Inc (YOU) revenue grew by 25.6% year-over-year, from $613.6M to $770.5M in fiscal year 2024.
Is Clear Secure Inc profitable?
Yes, Clear Secure Inc (YOU) reported a net income of $169.7M in fiscal year 2024, with a net profit margin of 22.0%.
What is Clear Secure Inc's EBITDA?
Clear Secure Inc (YOU) had EBITDA of $149.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Clear Secure Inc's operating margin?
Clear Secure Inc (YOU) had an operating margin of 16.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Clear Secure Inc's net profit margin?
Clear Secure Inc (YOU) had a net profit margin of 22.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Clear Secure Inc's return on equity (ROE)?
Clear Secure Inc (YOU) has a return on equity of 85.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Clear Secure Inc's free cash flow?
Clear Secure Inc (YOU) generated $283.7M in free cash flow during fiscal year 2024. This represents a 42.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Clear Secure Inc's operating cash flow?
Clear Secure Inc (YOU) generated $295.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Clear Secure Inc's total assets?
Clear Secure Inc (YOU) had $1.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Clear Secure Inc's capital expenditures?
Clear Secure Inc (YOU) invested $12.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Clear Secure Inc spend on research and development?
Clear Secure Inc (YOU) invested $73.4M in research and development during fiscal year 2024.
Does Clear Secure Inc buy back shares?
Yes, Clear Secure Inc (YOU) spent $272.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
What is Clear Secure Inc's current ratio?
Clear Secure Inc (YOU) had a current ratio of 1.03 as of fiscal year 2024, which is considered adequate.
What is Clear Secure Inc's debt-to-equity ratio?
Clear Secure Inc (YOU) had a debt-to-equity ratio of 4.82 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Clear Secure Inc's return on assets (ROA)?
Clear Secure Inc (YOU) had a return on assets of 14.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Clear Secure Inc's Altman Z-Score?
Clear Secure Inc (YOU) has an Altman Z-Score of 3.16, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Clear Secure Inc's Piotroski F-Score?
Clear Secure Inc (YOU) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Clear Secure Inc's earnings high quality?
Clear Secure Inc (YOU) has an earnings quality ratio of 1.74x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Clear Secure Inc?
Clear Secure Inc (YOU) scores 67 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.