Clear Secure Q3 revenue growth beats estimates on membership growth

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

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.)