Clear Secure (YOU) Q2 2026 Earnings Call Transcript

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DATE

Wednesday, Aug. 5, 2026 astatine 8:00 a.m. ET

CALL PARTICIPANTS

• Founder, Chair, and Chief Executive Officer - Caryn Seidman Becker

• President - Michael Barkin

• Chief Financial Officer - Jen Hsu

Full Conference Call Transcript

Operator: Good morning, and invited to CLEAR's fiscal 2nd 4th 2026 league call. We person with america contiguous Caryn Seidman Becker, Founder, Chair, and Chief Executive Officer, Michael Barkin, President, and Jen Hsu, Chief Financial Officer. As a reminder, earlier we begin, today's treatment contains forward-looking statements astir the company's aboriginal concern and fiscal performance. These are based connected management's existent expectations and are taxable to risks and uncertainties. Factors that could origin existent results to disagree materially from these statements are included successful the documents the institution has filed and furnished with the SEC, including today's property release. The institution disclaims immoderate work to update immoderate forward-looking statements that whitethorn beryllium discussed during the call.

During this call, unless different stated, each comparisons volition beryllium against the comparable play of fiscal twelvemonth 2025. Additionally, the institution volition sermon some GAAP and non-GAAP fiscal measures. A reconciliation of GAAP to non-GAAP fiscal measures is provided successful today's property merchandise and the astir precocious filed Form 10-Q. These items tin beryllium recovered successful the capitalist relations conception of CLEAR's website. With that, I volition crook the telephone implicit to Caryn.

Caryn Seidman Becker: We founded CLEAR with a profound condemnation that proving you are you securely, privately, and instantly would 1 time beryllium astatine the halfway of however Americans live, work, and travel. For a agelong time, it was a vision. Now it is our reality. CLEAR is the trusted unafraid individuality company, and aft 16 years of gathering our individuality platform, CLEAR Travel and CLEAR1, we person ne'er been stronger oregon amended positioned. It feels similar time 1 astir CLEAR due to the fact that it is. Today, individuality is captious infrastructure. It is security, the instauration of the connected, frictionless integer satellite being built astir us.

We ended this 4th with astir 44 cardinal full CLEAR members, driving bookings of $296 cardinal and escaped currency travel of $189 million. We delivered 33% bookings growth, and escaped currency travel is up 60% year-over-year. This quarter's results bespeak years of disciplined execution, gathering the technology, expanding the networks, and earning the spot of tens of millions of members and partners. We are increasing rapidly, generating important cash, and investing aggressively successful the products and experiences that volition specify the adjacent epoch of unafraid individuality and frictionless experiences. This is the five-year day of our IPO, and astatine that time, we targeted 35% adjusted EBITDA margins.