Clear Secure Q4 revenue $128.3M (+59% YoY); adjusted net income $21.0M

Clear Secure, Inc.

Revenue $128.3M (+59% YoY); Total Bookings $150.6M (+37.4%); Free Cash Flow $71.0M.
Net loss $18.8M includes $24.2M non-cash equity comp; Adjusted net income $21.0M; Adjusted EBITDA $15.5M.
Cumulative Enrollments 15.4M (+48.4%); Annual CLEAR Plus Net Member Retention 91.9% (down 40 bps YoY).
Received TSA PreCheck ATO; renewed United Airlines partnership; entered healthcare with University of Miami Health System.
Reached 51 CLEAR Plus airports; RESERVE powered by CLEAR live in 16 airports including Frankfurt and Rome.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clear Secure, Inc. reported Fourth Quarter 2022 results: revenue $128.3 million, net income Net loss of $18.8 million, EPS Net loss per common share basic and diluted $0.13.

Period: Fourth Quarter 2022
Revenue: $128.3 million
Net income: Net loss of $18.8 million
EPS: Net loss per common share basic and diluted $0.13
Result: reported results

Exact text from the filing

Revenue of $128.3 million was up 59.0% while Total Bookings of $150.6 million were up 37.4% Net cash provided by operating activities of $79.3 million; Free Cash Flow of $71.0 million Total Cumulative Enrollments of 15.4 million were up 48.4% Annual CLEAR Plus Net Member Retention of 91.9% was down 40 basis points year-over-year and down 30 basis points sequentially Total Cumulative Platform Uses of 129.6 million were up 54.4% Net loss of $18.8 million, which includes $24.2 million non-cash equity-based compensation costs related to vesting of previously issued warrants to United Airlines ($18.1 million) and pre-IPO employee performance awards ($6.1 million), a $1.0 million non-cash lease impairment and a $1.9 million non-cash tax benefit Net loss per common share basic and diluted $0.13, which includes $0.16 non-cash equity-based compensation costs related to vesting of previously issued warrants to United Airlines ($0.12) and pre-IPO employee performance awards ($0.04), a $0.01 non-c

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Clear Secure, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-005721

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