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    Clear Secure Q4 revenue growth beats estimates on membership growth

    Picture of CLEAR Secure logoCLEAR Secure
    25/02/2026 11:09
    Overview

Secure identity company's Q4 revenue up 16.7%, beating analyst expectations

Adjusted EBITDA for Q4 beat analyst expectations, showing margin expansion

Company announced 20% dividend increase and $125 mln increase in share repurchase authorization

Outlook

Clear Secure forecasts Q1 2026 revenue of $242-245 mln, up 15.2% year-over-year

Company expects Q1 2026 bookings of $248-253 mln, up 20.9% year-over-year

Clear Secure projects full-year 2026 free cash flow of at least $440 mln

Result Drivers

MEMBERSHIP GROWTH - Total CLEAR Members increased 31.5% year-over-year, contributing to revenue growth

BOOKINGS GROWTH - Total Bookings increased 25.4%, marking the strongest quarterly growth since Q4 2023

PARTNERSHIP RENEWAL - Renewed multi-year partnership with American Express, enhancing CLEAR+ offerings

Company press release: ID:nPn6p4GMsa

Key Details


    MetricBeat/MissActualConsensus Estimate
    Q4 RevenueBeat$240.80 mln$235.72 mln (9 Analysts)
    Q4 EPS$0.31
    Q4 Net Income$46.50 mln
    Q4 Adjusted EBITDABeat$79.90 mln$67.95 mln (9 Analysts)
    Q4 Basic EPS$0.31
    Q4 Free Cash Flow$187.40 mln
    Q4 Gross Bookings$287.10 mln
    

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "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 $41.00, about 22.5% above its February 24 closing price of $33.47

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 22 three months ago

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.)

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