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Sep 30, 2023
Clear Q3 2023 Earnings Report
Clear's Q3 2023 performance was marked by revenue growth, strategic capital allocation, and investments in future identity technology.
Key Takeaways
Clear Secure, Inc. reported a strong Q3 2023 with a 38.4% increase in revenue to $160.4 million and a 31.6% increase in total bookings to $191.7 million. The company achieved a net income of $26.9 million and demonstrated its focus on capital allocation by repurchasing shares and declaring dividends.
Revenue increased by 38.4% to $160.4 million, and total bookings grew by 31.6% to $191.7 million.
Net income was $26.9 million, with basic and diluted net income per share at $0.17.
Total cumulative enrollments reached 18.6 million, representing a 30.6% increase.
Active CLEAR Plus members increased by 31.3% to 6.4 million.
Forward Guidance
The company expects fourth quarter 2023 revenue of $165-$167 million and Total Bookings of $185-$187 million.
Positive Outlook
- Expected revenue of $165-$167 million for Q4 2023.
- Total Bookings of $185-$187 million is expected for Q4 2023.
- Collaboration with TSA continues to progress towards public launch.
- Modest contribution from TSA PreCheck Enrollment Provided by CLEAR is anticipated in Q4 guidance.
- Year-over-year Free Cash Flow growth is expected in Q4 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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