Clear Secure Reports Strong Q1 Results, Raises Full-Year Free Cash Flow Guidance

summarizeSummary

Clear Secure, Inc. announced strong first-quarter 2026 financial results, including a 19.7% revenue increase and 40.8% growth in total bookings, and notably raised its full-year Free Cash Flow guidance.

check_boxKey Events

• Strong Q1 Financial Performance

  Reported Q1 2026 revenue of $253.0 million, up 19.7% year-over-year, and total bookings of $291.7 million, an increase of 40.8%. Adjusted EBITDA grew to $80.6 million, representing a 31.9% margin and 720 basis points of year-over-year margin expansion.

• Raised Full-Year Free Cash Flow Guidance

  Increased full-year 2026 Free Cash Flow guidance from at least $440 million to at least $465 million, reflecting at least 35.5% year-over-year growth, indicating stronger expected cash generation.

• Continued Operational Expansion

  Total CLEAR Members grew to 41.0 million (up 31.3%) and Active CLEAR+ Members reached 8.2 million (up 13.0%). The company expanded its network to 60 CLEAR+ airports and launched eGates across 43 airports, with CLEAR1 bookings increasing approximately fivefold.

• Shareholder Returns Maintained

  Returned approximately $56.4 million to shareholders in Q1 2026 through regular and special dividends, and $1.2 million in share repurchases. A quarterly cash dividend of $0.15 per share was declared, consistent with previous declarations.

auto_awesomeAnalysis

Clear Secure, Inc. delivered robust first-quarter financial results, exceeding expectations with significant year-over-year growth in revenue, total bookings, and Adjusted EBITDA. The most impactful aspect of this filing is the upward revision of the full-year 2026 Free Cash Flow guidance, signaling increased confidence from management in the company's future cash generation capabilities. This positive outlook, coupled with continued operational expansion across airports and member growth, reinforces the company's strong business momentum. Investors should view the raised guidance as a key indicator of improved financial health and operational efficiency.