Clear Secure, Inc. (NYSE:YOU) reported fourth-quarter results that exceeded analyst expectations, supported by solid revenue growth and improved profitability metrics.
The secure identity company posted adjusted earnings per share of $0.31, surpassing the consensus estimate of $0.28 by $0.03. Revenue reached $240.8 million, beating forecasts of $235.86 million and increasing 16.7% year on year.
Shares rose 1.61% in after-hours trading following the earnings release.
Clear Secure also issued first-quarter 2026 revenue guidance of $242 million to $245 million, with the midpoint of $243.5 million coming in above analyst expectations of $237.1 million by roughly 2.7%.
Adjusted EBITDA for the fourth quarter totaled $79.9 million, representing a margin of 33.2% and an expansion of 870 basis points compared with the prior year.
The company generated $187.4 million in free cash flow during the quarter, bringing full-year free cash flow to $343.1 million. For 2026, Clear Secure expects free cash flow of at least $440 million, implying growth of at least 28.2% year on year.
“We exited the year with accelerating top line growth, delivered record full year profitability and free cash flow, and continued to strengthen our member experience while expanding our identity platform,” said Caryn Seidman Becker, Clear Secure’s CEO.
Total bookings rose 25.4% year on year to $287.1 million, marking the strongest quarterly growth since the fourth quarter of 2023.
Active CLEAR+ Members increased to 7.6 million, up 6.0% year on year, while total CLEAR Members reached 38.0 million, representing growth of 31.5%.
The company’s board declared a quarterly dividend of $0.15 per share, a 20% increase from the previous quarter, along with a special dividend of $0.20 per share. The board also approved a $125.0 million expansion of its share repurchase programme.