Clear Secure (YOU) investor relations material

Executive summary

• Revenue for Q2 2026 grew 27% year-over-year to $277.8 million, driven by a 15.2% increase in active CLEAR+ members to 8.3 million and higher membership pricing.

• Net income for Q2 2026 was $72.3 million, a 26.0% margin, up 91% from $37.9 million in Q2 2025, reflecting strong operating leverage.

• Adjusted EBITDA reached $101.1 million, with a 36.4% margin, up 900 basis points year-over-year, surpassing the long-term target.

• CLEAR membership expanded to 43.5 million, up 30% year-over-year, and the CLEAR Travel network reached 62 airports.

• Mobile app engagement averaged 1 million monthly users, with new partnerships enhancing the travel experience.

Financial highlights

• Q2 2026 revenue: $277.8M (+27% YoY); total bookings: $295.9M (+32.8% YoY); net income: $72.3M (+91% YoY).

• Adjusted EBITDA: $101.1M (36.4% margin); operating income: $83M (29.9% margin); EPS: $0.50 basic, $0.49 diluted.

• Free cash flow for Q2: $189M, up 60.3% year-over-year; first half 2026: $374.5M, up from $209.2M prior year.

• Net cash from operating activities: $201.2M; cash and equivalents at June 30, 2026: $128.2M; marketable securities: $831M.

Outlook and guidance

• Q3 2026 revenue guidance: $284–$287M (24.6% YoY growth at midpoint); bookings: $311–$316M (20.5% YoY growth at midpoint).

• Full-year 2026 free cash flow guidance raised to at least $480M, up at least 39.9% year-over-year.

• Management expects continued growth in CLEAR+ members and platform expansion through new partnerships and products.