Every 10-Q that Clear Secure, Inc. (YOU) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow YOU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full YOU filings page.
Clear Secure, Inc. expanded its secure-identity platform in the six months ended June 30, 2026. Q2 2026 revenue was $277.8 million, up 27% year over year, and first-half revenue was $530.8 million, up 23%. Q2 operating income rose to $83.0 million from $42.6 million, with net income of $72.3 million versus $37.9 million a year earlier.
Q2 Adjusted EBITDA was $101.1 million, a 36.4% margin, and first-half Adjusted EBITDA was $181.7 million. Free Cash Flow reached $374.5 million for the first half, supported by strong cash collections on subscriptions as Total Bookings grew 33% in Q2 to $295.9 million and 37% year to date to $587.6 million.
Total CLEAR Members rose 30% year over year to 43.5 million, and Active CLEAR+ Members increased 15% to 8.3 million. The company held $128.2 million in cash and $831.0 million in marketable securities, had no outstanding debt on a $50.0 million revolver, and continued returning capital through dividends and share repurchases while carrying a $256.7 million Tax Receivable Agreement liability.
Clear Secure, Inc. delivered strong Q1 2026 growth with improved profitability and cash generation. Revenue rose to $253.0 million from $211.4 million, driven by a 13% increase in Active CLEAR+ Members and higher membership pricing. Net income increased to $56.4 million, while Adjusted EBITDA reached $80.6 million with a 32% margin, up from 25%.
The company generated $190.4 million of operating cash flow and $185.5 million of free cash flow, lifting cash and cash equivalents to $170.7 million and marketable securities to $629.4 million. Total CLEAR Members grew to about 41 million, and deferred revenue climbed to $554.9 million, reflecting strong subscription prepayments.
Clear Secure, Inc. (YOU) reported higher Q3 results in its 10-Q. Revenue was $229,193 (thousands), up from $198,424 a year ago, with operating income of $52,612 and net income of $45,144 (thousands). Net income attributable to Clear Secure, Inc. was $28,279 (thousands), or $0.29 diluted EPS for Class A and B shares.
Year-to-date, revenue reached $660,028 (thousands) and operating cash flow was $174,032 (thousands). The balance sheet shows cash and cash equivalents of $75,766 and marketable securities of $454,876 (thousands). Deferred revenue stood at $469,793 (thousands), reflecting subscriptions billed in advance. The company recorded an impairment of $4,719 (thousands) on a strategic investment and recognized a tax expense of $15,731 (thousands) this quarter.
Capital returns continued: during the first nine months of 2025, Clear repurchased and retired 5,294,598 Class A shares for $126,345 (thousands) and paid quarterly and special dividends. Subsequent to quarter-end, the Board declared a $0.125 per share quarterly dividend, payable December 24, 2025. Shares outstanding as of November 3, 2025 included 97,432,378 Class A shares.
Clear Secure, Inc. (NYSE: YOU) – Q2 FY-25 (period ended 6/30/25)
- Top-line growth: Q2 revenue rose 17.5 % YoY to $219.5 m; 1H revenue up 17.8 % to $430.8 m, driven primarily by CLEAR+ subscription momentum.
- Profitability: Operating income climbed 40 % YoY to $42.6 m as operating margin expanded 290 bp to 19.4 %. Net income attributable to Clear edged up 2.5 % to $24.7 m (EPS basic/diluted $0.26).
- Cash generation: 1H operating cash flow increased 13.6 % to $221.3 m; capex of $12.1 m produced positive FCF of ~$209 m.
- Balance sheet: Cash & marketable securities totaled $605.7 m (-0.6 % YTD). No debt outstanding; $66.4 m of revolver capacity remains. Total liabilities rose 10 % to $1.05 bn, driven by a $113.8 m jump in accrued liabilities (credit-card partnership benefits and TRA).
- Capital returns: 5.3 m Class A shares repurchased for $126.3 m (avg. $23.86); $48.8 m paid in regular & special dividends. Remaining buyback authorization: $126.5 m.
- Share base: Class A shares outstanding fell 3.1 % YTD to 93.8 m; non-controlling interest ownership diluted to 29.0 %.
- Other items: $4.7 m impairment recorded on a private strategic investment; effective tax rate rose to 14.5 % (vs. 1.0 %). Subsequent-event quarterly dividend of $0.125 declared (payable 9/17/25).
Total liquidity remains strong, margins are widening, and management continues aggressive capital returns, though rising liabilities and higher tax expense warrant monitoring.