New York – November 04, 2026 -- Clear Secure, Inc. (NYSE: YOU) reported third-quarter 2026 revenue of $292.9 million, up 27.8% year over year, and raised its full-year free cash flow guidance to at least $490 million from at least $480 million.
Net margin widens 600 basis points on $75.3 million profit
Total Bookings rose 24.4% to $323.5 million. Operating income reached $82.9 million, a 28.3% margin. Net income of $75.3 million equals a 25.7% margin, 600 basis points above the prior-year quarter. Basic and diluted earnings per share were $0.53 and $0.52.
Adjusted EBITDA came in at $103.9 million, a 35.5% margin and 490 basis points higher year over year.
Partnership settlement of about $315 million drives negative quarterly cash flow
Net cash used in operating activities was $98.6 million and free cash flow was negative $103.8 million. Both figures reflect the roughly $315 million settlement of accrued partnership liabilities.
The full-year free cash flow guidance of at least $490 million implies growth of at least 42.8% year over year.
Fourth-quarter guidance points to slower bookings growth of 17.6%
Clear Secure guided fourth-quarter revenue to $299-302 million, 24.8% growth at the midpoint. It guided Total Bookings to $335-340 million, 17.6% growth at the midpoint.
Board adds $175 million to buyback and keeps $0.15 dividend
The company returned about $191.4 million to shareholders in the quarter: $170.9 million in share repurchases and $20.5 million in dividends and distributions. The Board increased the Class A repurchase authorization by $175.0 million, leaving about $254.4 million in aggregate.
It also declared a quarterly dividend of $0.15 per share, payable December 24, 2026 to Class A holders of record as of December 10, 2026.
Membership climbs to 46.7 million as CLEAR+ reaches 8.5 million
Total CLEAR Members grew 30.7% to 46.7 million as of September 30, 2026. Active CLEAR+ Members rose 14.5% to 8.5 million. Prior-period Active CLEAR+ figures were recast to remove lapsed accounts identified during a 2025 billing system project, with no effect on financial statements or non-GAAP measures.
The network spanned 62 CLEAR+ airports and 285 retail locations offering TSA PreCheck enrollment at quarter-end. Tampa International Airport launched in early November, lifting the airport count to 63.
eGates now operate at 53 airports, with most of the network targeted by year-end
CLEAR expects eGates to cover the vast majority of its network by the end of 2026. Its CLEAR Concierge service is offered at 42 airports.
The CLEAR1 enterprise offering had what the company called a milestone quarter. In October it announced a pilot with the U.S. Department of Veterans Affairs covering digital and physical touchpoints.
CEO Caryn Seidman Becker said the platform extends from homeland security to cybersecurity, adding that "identity is security."