Overview

* Clear Secure ( YOU ) fiscal Q3 revenue grows 15.5%, beating analyst expectations

* Adjusted EBITDA for fiscal Q3 beats analyst estimates, reflecting strong operational performance

* Company reports negative free cash flow due to annual credit card partner payment

Outlook

* Company projects Q4 2025 revenue between $234 mln and $237 mln

* Clear Secure expects Q4 2025 bookings of $265-270 mln

* Company raises full-year 2025 free cash flow guidance to at least $320 mln

Result Drivers

* CLEAR+ MEMBER GROWTH - Active CLEAR+ Members grew to 7.7 mln, up 7.5% year-over-year

* SERVICE EXPANSION - Expansion of CLEAR+ services for international travelers to over 40 countries

* EGATES LAUNCH - eGates launched across 10 airports, with plans to expand to 30 airports by end of year

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $229.20 $224.80

Revenue mln mln (9

Analysts

)

Q3 Net $45.10

Income mln

Q3 Beat $70.10 $59.82

Adjusted mln mln (9

EBITDA Analysts

)

Q3 Basic $0.29

EPS

Q3 Free -$53.50

Cash mln

Flow

Q3 Gross $260.10

Bookings mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy."

* Wall Street's median 12-month price target for Clear Secure Inc ( YOU ) is $35.50, about 10.5% above its November 5 closing price of $31.79

* The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)