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Secure identity platform Clear Secure beats Q3 revenue estimates on membership, network growth

By Reuters News


Overview

  • Secure identity platform's Q3 revenue rose 27.8% yr/yr, beating analyst expectations

  • Adjusted EBITDA for Q3 beat analyst expectations

  • Company returned $191.4 mln to shareholders and expanded share buyback by $175 mln


Outlook

  • Company expects Q4 2026 revenue of $299-302 mln

  • Company sees Q4 2026 total bookings of $335-340 mln

  • Full-year 2026 free cash flow guidance raised to at least $490 mln


Result Drivers

  • MEMBERSHIP GROWTH - Total CLEAR Members rose 30.7% yr/yr to 46.7 mln, and Active CLEAR+ Members increased 14.5% yr/yr to 8.5 mln, supporting revenue growth

  • NETWORK EXPANSION - CLEAR+ airport locations increased to 62 and retail locations to 285, with eGates launched at 53 airports, broadening service reach

  • PRODUCT AND SERVICE DEMAND - CLEAR1 reported strong demand across core verticals, and a new pilot with the U.S. Department of Veterans Affairs was announced


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$292.90 mln

$286.71 mln (5 Analysts)

Q3 EPS

$0.52

Q3 Net Income

$75.30 mln

Q3 Adjusted EBITDA

Beat

$103.90 mln

$97.95 mln (5 Analysts)

Q3 Free Cash Flow

-$103.80 mln

Q3 Gross Bookings

$323.50 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "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 $55.50, about 16.2% above its November 3 closing price of $47.76

  • The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 29 three months ago


Reuters Recommended Reads

  • Nov 3 - First Watch Q3 revenue slightly beats estimates on new restaurant openings

  • Nov 2 - Choice Hotels Q3 revenue and adjusted EPS beat estimates, raises FY RevPAR outlook

  • Nov 2 - Marriott tops Q3 revenue, profit estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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