Clear Secure Q3 revenue growth beats estimates on membership growth

CLEAR Secure

06/11/2025 11:15

Overview

Clear Secure 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/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$229.20 mln
$224.80 mln (9 Analysts)
Q3 Net Income
$45.10 mln
Q3 Adjusted EBITDA
Beat
$70.10 mln
$59.82 mln (9 Analysts)
Q3 Basic EPS
$0.29
Q3 Free Cash Flow
-$53.50 mln
Q3 Gross Bookings
$260.10 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 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: ID:nGNXQNNYL

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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.)