Clear Secure's Q2 revenue beats estimates on membership growth

CLEAR Secure

05/08/2026 11:14

Overview
US secure identity platform's Q2 revenue grew 26.6% yr/yr, beating analyst expectations
Q2 adjusted EBITDA beat analyst expectations, with margin expanding 900 basis points yr/yr
Company returned $22.2 mln to shareholders through dividends and distributions in Q2

Outlook
Clear Secure sees Q3 revenue of $284-287 mln
Company expects Q3 total bookings of $311-316 mln
Full-year 2026 free cash flow guidance raised to at least $480 mln

Result Drivers
MEMBERSHIP GROWTH - Co said total CLEAR members grew 30% yr/yr and active CLEAR+ members rose 15.2% yr/yr, supporting revenue and bookings growth
NETWORK EXPANSION - Co launched new CLEAR+ airports and expanded eGate rollout, increasing presence at airports and retail locations

Company press release: ID:nPn14c6wja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$277.80 mln
$269.45 mln (5 Analysts)
Q2 Net Income
 
$72.30 mln
 
Q2 Adjusted EBITDA
Beat
$101.10 mln
$84.91 mln (5 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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. is $61.50, about 10.4% above its August 4 closing price of $55.73
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 32 three months ago

Reuters Recommended Reads
Aug 3 - Visa beefs up cybersecurity offerings with $2.4 billion BioCatch deal
Aug 4 - Global Business Travel Q2 revenue beats estimates
Aug 3 - Cybersecurity firm Horizon3 crosses $2 billion valuation in new funding round

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)