Clear Secure, Inc. Class A (YOU)

Clear Secure's stock experienced several notable events in the past six months. The company reported strong Q2 2025 financial results, with revenue of $219.5 million, leading to an 8.7% pre-market surge. CLEAR launched its identity verification technology at John Wayne Airport (SNA), marking its 60th airport in the CLEAR+ network, while the stock declined 0.86% on the day this news was published. Clear Secure reported Q3 CY2025 results, beating Wall Street's revenue expectations with sales up 15.5% year-on-year to $229.2 million. Clear Secure's stock reached a 52-week high of $39.24, influenced by strong Q3 results and a significant contract with the Centers for Medicare & Medicaid Services (CMS). JPMorgan upgraded Clear Secure's stock rating from Neutral to Overweight, citing potential upside to 2026 estimates. An insider sold 15,532 shares of Clear Secure stock for approximately $636,812.00. The stock price fell by 4.00% on January 12, 2026, from $36.46 to $35.00.

Clear Secure's products and services exhibit a seasonal demand pattern. The company anticipates that the second and fourth quarters are typically stronger for net member additions and bookings, compared to the first and third quarters. Management indicated that Q3 2025 would be the smallest net adds contributor due to annual billing dynamics and seasonal travel demand.

Clear Secure, Inc. (YOU) is a technology company specializing in identity verification and secure access solutions, primarily known for its biometric authentication services. The company operates within the Technology sector, specifically in the Application Software and Identity Verification industries, utilizing biometrics to automate identity verification. Major products and services include CLEAR Plus, CLEAR Reserve, CLEAR Health Pass, CLEAR Identity Verification, CLEAR Mobile App, CLEAR Sports, CLEAR Secure API, CLEAR Travel, CLEAR1, TSA PreCheck Enrollment Provided by CLEAR, Sora ID, Virtual Queuing Technology, EnVe verification Pods, ePassport, eGates, CLEAR Concierge, CLEAR ID, and Atlas Certified.

Clear Secure primarily operates in the United States, with a growing international presence. As of Q1 2024, Clear Secure was present in over 50 U.S. airports. More recent data indicates Clear is live in 62 locations, including 52 airports and 10 Staples locations. The CLEAR+ network serves 60 airports, with 10 of these in California. The company also operates approximately 165 to 231 TSA PreCheck enrollment locations across airports, city centers, and transit hubs. International expansion efforts include the ePassport product for travelers from the UK, Canada, Australia, and New Zealand.

In the past year, Clear Secure has continued to face some of the long-standing criticisms and scrutiny related to its operations. In 2022, a security incident involved an airline passenger using a false identity to pass through its system, with the company attributing it to a single human error. Clear has been subject to ethical criticism for enabling wealthier flyers to bypass security lines, leading to some negative sentiment on platforms like Reddit and Trustpilot.

Clear Secure, Inc. has a mixed ownership structure, with institutional investors holding a significant portion. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc, Durable Capital Partners LP, iShares Core S&P Small-Cap ETF, Renaissance Technologies Llc, State Street Corp, First Trust Advisors Lp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Arrowstreet Capital, Limited Partnership, and SDVY - First Trust SMID Cap Rising Dividend Achievers ETF. Durable Capital Partners LP is noted as the largest individual Clear Secure shareholder, owning 28.83 million shares representing 21.65% of the company. Other significant insider owners include General Atlantic LLC and Delta Air Lines Inc. Retail investors hold approximately 23.92% to 32.59% of the company's stock.