Clear Secure, Inc. Reports Strong Q4 2024 Growth

Clear Secure, Inc. ( (YOU) ) has released its Q4 earnings. Here is a breakdown of the information Clear Secure, Inc. presented to its investors.

Clear Secure, Inc. is a technology company that specializes in biometric security solutions, primarily serving the travel industry by providing identity verification services at airports. The company is known for its CLEAR Plus membership, which offers expedited security screening for travelers.

In its fourth quarter of 2024, Clear Secure, Inc. reported significant financial growth, with a 20.7% increase in revenue to $206.3 million and a 17.2% rise in total bookings to $228.9 million. The company also saw a substantial increase in net income, reaching $116.6 million, and reported earnings per share of $1.07 and $0.83 for basic and diluted shares, respectively.

Key financial highlights for the year include a 25.6% increase in annual revenue to $770.5 million and a 17.2% rise in total bookings to $834 million. The company also improved its operating margins by 1271 basis points year-over-year and generated a free cash flow of $283.7 million, up 42.2% from the previous year. Operationally, Clear Secure expanded its presence to 59 airports and achieved a total of 28.9 million cumulative enrollments by the end of the year.

The company engaged in significant capital allocation activities, repurchasing 13.8 million shares throughout the year and returning $391 million to shareholders, including dividends. Looking ahead, Clear Secure expects continued revenue and bookings growth in 2025, with a projected free cash flow of at least $310 million.

Clear Secure’s management remains optimistic about the company’s future, emphasizing their commitment to enhancing airport security and improving the travel experience through innovative solutions like EnVe and eGates. They anticipate further growth and expansion in the coming year, driven by their strategic initiatives and market presence.