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Jun 30, 2023
Clear Q2 2023 Earnings Report
Clear's second quarter results demonstrated model strength with strong top line growth and operating leverage, achieving positive net income as a public company and increased free cash flow.
Key Takeaways
Clear Secure, Inc. reported strong Q2 2023 results, with revenue up 45.9% and total bookings up 42.5%. The company achieved positive net income for the first time as a public company and grew free cash flow by 62%. A regular quarterly dividend was established.
Revenue increased by 45.9% to $149.9 million, and Total Bookings increased by 42.5% to $175.1 million.
Total Cumulative Enrollments reached 17.4 million.
Active CLEAR Plus Members reached 6.2 million, representing a 40.6% increase.
Annual CLEAR Plus Member Usage was 8.7x, up 3.6%.
Forward Guidance
The company expects third quarter 2023 Revenue of $152-$154 million and Total Bookings of $178-$180 million. Third quarter guidance does not include any contribution from TSA PreCheck® Enrollment Provided by CLEAR. For fiscal year 2023, we expect to demonstrate continued operating leverage and growth in Free Cash Flow as compared to fiscal year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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