Clear Secure
Runs biometric airport lanes and digital identity services for travelers, businesses, and government.
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Profile
Sells CLEAR+ subscriptions for biometric access lanes at U.S. airport checkpoints, alongside TSA PreCheck enrollment, travel-planning services, and CLEAR1 identity verification for organizations. Consumer aviation subscriptions still generate substantially all revenue, while airlines, credit-card partners, airports, and federal approvals support distribution and operations.
Operates biometric identity services across CLEAR Travel and CLEAR1, with nearly all revenue generated in the United States. CLEAR+ sells annual subscriptions for dedicated airport checkpoint lanes; TSA PreCheck Enrollment Provided by CLEAR handles new enrollments and renewals; CLEAR Concierge, expedited passport services, the CLEAR app's Home to Gate planning, and CLEAR ID extend the travel offering. CLEAR1 supplies layered identity verification to healthcare, workforce, and government organizations through platform and transaction fees.
Combines biometric, document, device, and verified-source signals with airport hardware, mobile enrollment, partner integrations, and a large field workforce. Consumer aviation subscriptions generate substantially all revenue. The model depends on TSA authorization, airport access, airline and credit-card distribution, privacy and biometric-data compliance, secure handling of sensitive identity data, and traveler trust.
Company facts
Categories
Key statistics
Year to date +26.4% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 28, 2026 | DA Davidson | Reiterate | Neutral | $60 | $55 | |
| Jul 20, 2026 | Goldman Sachs | Target | $75 | $70 | ||
| May 7, 2026 | Goldman Sachs | Target | $61 | $75 | ||
| May 7, 2026 | Stifel Nicolaus | Target | $51 | $60 | ||
| May 7, 2026 | DA Davidson | Downgrade | Buy | Neutral | $65 | $60 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.40 | $0.49 | +23.5% | $269.7M | $277.8M | +3.0% | +1.31% |
| May 6, 2026Q1 FY26 | $0.35 | $0.38 | +8.6% | $244.4M | $253.0M | +3.5% | −4.55% |
| Feb 25, 2026Q4 FY25 | $0.31 | $0.31 | 0.0% | $235.7M | $240.8M | +2.1% | +1.31% |
| Nov 6, 2025Q3 FY25 | $0.27 | $0.29 | +7.4% | $235.7M | $229.2M | −2.7% | +12.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $211.4M | $219.5M | $229.2M | $240.8M | $253.0M | $277.8M | |
| Gross profit | $131.1M | $140.6M | $149.8M | $351.5M | $161.0M | $238.5M | |
| Operating income | $37.4M | $42.6M | $52.6M | $53.9M | $62.0M | $83.0M | |
| Net income | $25.4M | $24.7M | $28.3M | $30.8M | $38.8M | $50.1M | |
| Diluted EPS | $0.26 | $0.26 | $0.29 | $0.31 | $0.39 | $0.49 | |
| Gross margin | 62.0% | 64.1% | 65.4% | 146.0% | 63.7% | 85.9% | |
| Operating margin | 17.7% | 19.4% | 23.0% | 22.4% | 24.5% | 29.9% |
Fiscal years (4-quarter sums)FY21 $254.0M · FY22 $437.4M · FY23 $613.6M · FY24 $770.5M · FY25 $900.8M
Balance sheet, Jun 30, 2026Cash & short-term investments $959.3M · Total debt $109.8M · Total assets $1.58B · Shareholders' equity $206.2M
Dividends
Raised for 2 straight years — most recently to $0.15 from $0.125 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 10, 2026 | Jun 10 | Jun 24 | $0.15 | raised from $0.125 |
| Mar 10, 2026 | Mar 10 | Mar 24 | $0.35 | special dividend |
| Dec 10, 2025 | Dec 10 | Dec 24 | $0.125 | |
| Sep 10, 2025 | Sep 10 | Sep 17 | $0.125 | |
| Jun 10, 2025 | Jun 10 | Jun 17 | $0.125 | |
| Mar 10, 2025 | Mar 10 | Mar 18 | $0.395 | special dividend |
| Dec 10, 2024 | Dec 10 | Dec 17 | $0.125 | raised from $0.10 |
| Sep 10, 2024 | Sep 10 | Sep 17 | $0.10 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 100.61M · Float —
Float — provider float is below the insider stake.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Becker Caryn Seidman · director, 10 percent owner, officer: Chief Executive Officer | 18.76M | 18.65% | Form 4 | Aug 7, 2026 |
| Alclear Investments, LLC · director, 10 percent owner, other: See Remarks | 18.59M | 18.48% | Form 4 | Aug 7, 2026 |
| BlackRock, Inc. | 15.91M | 15.81% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.77M | 7.72% | 13F | Aug 13, 2026 |
| William H. Miller III Living Trust dated April 17, 2017 | 6.05M | 6.30% | 13G | Sep 23, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 5, 2026 | Alclear Investments, LLC | director, 10 percent owner, other: See Remarks | −323,904 | $61.22 |
| Aug 5, 2026 | Becker Caryn Seidman | director, 10 percent owner, officer: Chief Executive Officer | −323,904 | $61.22 |
| Jul 15, 2026 | Alclear Investments, LLC | director, 10 percent owner, other: See Remarks | −28,603 | $53.57 |
| Jul 15, 2026 | Becker Caryn Seidman | director, 10 percent owner, officer: Chief Executive Officer | −28,603 | $53.57 |
| Jul 14, 2026 | Alclear Investments, LLC | director, 10 percent owner, other: See Remarks | −120,640 | $53.40 |
Peers
- Telos
Direct TSA PreCheck enrollment and identity-management overlap
- Mitek Systems
Digital identity verification and reusable identity overlap
- TransUnion
Identity assurance and fraud-prevention platform overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Clear Secure | $43.29 | −0.40% | $4.37B | 29.3 | 21.1 | 4.4 | +26.6% |
| Telos | $4.81 | +0.52% | $358.4M | — | 36.6 | 1.9 | +32.7% |
| Mitek Systems | $18.85 | −0.05% | $851.2M | 40.3 | 16.9 | 4.3 | +18.2% |
| TransUnion | $84.99 | −0.81% | $16.41B | 22.6 | 16.6 | 3.4 | +14.9% |
| Median | 31.4 | 16.9 | 3.4 | +18.2% |