Clear: quarterlies, annuals, SEC actions

Nov 11, 2024 – Clear revenue was up by more than 23 percent year-over-year in the third fiscal quarter of 2024, at $198.4 million, as its biometric enrollments for TSA PreCheck reached 62 locations.

Net income was $38 million, adjusted EBITDA was $48.6 million, and earning per basic and diluted common share were $0.25, compared to $0.34 in the previous quarter and $0.17 in the same period a year ago.

CEO Caryn Seidman Becker says in a quarterly shareholders letter that Clear’s booking growth bounced back to 19 percent and the company’s incremental margins were up 50 percent.

Clear has also begun introducing new EnVe pod for face biometrics, with an initial launch at New York’s JFK.

Clear beats the street again with Q2 results

Aug 07, 2024 – Clear Secure reports revenues were up nearly 25 percent in the second quarter of its fiscal 2024, reaching $186.7 million, beating market expectations for earnings and income.

Adjusted net income in Q2 was $49.3 million, or $0.34 per share, and adjusted EBITDA was $47.5 million.  The results beat the analyst expectations, with Zack’s Consensus Estimate coming in at $0.26 per share, and represents the fourth quarter in a row that Clear has topped the consensus estimate for both revenue and EPS.

Clear expects third quarter revenues of $193 million to $195 million, and significantly improved margins and free cash flow growth for the full year, compared to 2023.

The company has also struck a deal to repurchase 4 million shares of Class A Common Stock during Q3. The repurchase is under a block share purchase agreement with Delta Air Lines.

Delta still owns over 4.2 million shares of Class C Common Stock in Clear, and is credited by Clear CEO Caryn Seidman Becker with meaningfully accelerating the company’s growth through investments dating back to 2016.

Clear still has $100 million available to repurchase shares, according to the announcement.

Clear stacks growth quarters as PreCheck biometrics, ID verification platform scale

May 10, 2024 – Clear’s revenues from its reusable digital ID and airport biometrics increased by more than 35 percent year-over-year to $179 million for the first quarter of the fiscal 2024 year. Total booking were up more than 20 percent to $180.6 million.

Adjusted EBITDA during the quarter reached $40.9 million. Net income was $32.1 million and earnings per common and diluted basic share was $0.20.

CEO Caryn Seidman Becker says Clear executed on its three priorities of improving the membership experience, scaling its TSA PreCheck operations and its Clear Verified identity verification platform during the quarter.

CLEAR announces Q4 and FY2023 earnings

Feb 28, 2023 – Clear has released a shareholder letter containing its 2023 fourth quarter and full-year financial results. Read more here.

Clear swings into the black in third quarter

November 10, 2023 – Biometric ID verification company Clear is reporting a solid, positive swing in its fortunes in both the third quarter and the first three quarters of 2023.

For the quarter ended September 30, Clear reported a net profit of $26.8 million, or $0.17 per basic and diluted share, on revenue of $160.3 million. This compares with the third quarter a year ago when it reported a loss of $65.5 million, or $0.44, on revenue of $115.9 million.

During the first three quarters of fiscal 2023, Clear reported a net profit of $26.6 million, or $0.16 per basic share and $0.15 per diluted share, on revenue of $442.6 million. This compares with a loss of $96.6 million, $0.67 basic and diluted, on revenue of $309.1 million.

Mixed financials to match mixed times

March 10, 2023 – Clear reports that its total bookings, one of the company’s key performance indicators, rose 55 percent fiscal 2022 over 2021. Read more here.

Clear is having a hard time winning at sports venues

June 12, 2022 – Sports would seem to be an approachable industry for a biometric ID vendor to enter. Read more here.

Clear revenues up

Nov 16, 2021 – Revenues from Clear’s biometric services were up 20 percent in the third quarter of 2021 to $67.6 million, as the company’s total cumulative enrollments jumped by 58 percent to 8.1 million. Read more here.

Clear stock up dramatically after IPO

June 30, 2021 – Clear’s stock price started above its estimated range and climbed from there on Wednesday, raising nearly $410 million for the biometrics provider at a market cap of $4.5 billion. Read more here.

More financial and industry news about Clear here.

Article Topics

biometrics  |  CLEAR  |  digital identity  |  financial results  |  stocks