Clear Secure lifts cash-flow outlook as third-quarter growth forecast slows
Revenue rose 26.6% in the second quarter, but management’s midpoint guidance points to slower bookings and revenue growth in the next quarter.
Clear Secure reported second-quarter revenue of $277.8 million, up 26.6% from a year earlier, while Total Bookings increased 32.8% to $295.9 million. The results, reported by Yahoo Finance, included higher margins and free cash flow.
Adjusted EBITDA reached $101.1 million, producing a 36.4% margin. Quarterly free cash flow was $189 million, prompting the company to raise its full-year guidance to at least $480 million from a previous floor of $465 million.
The company’s third-quarter outlook points to a moderation in growth. Midpoint guidance implies revenue growth of 24.6% and bookings growth of 20.5%, below the rates recorded in the second quarter. The source package does not provide exact third-quarter revenue or bookings figures, or explain the expected deceleration.
Clear Secure’s membership base continued to expand. Total CLEAR Members reached 43.5 million and Active CLEAR+ subscribers 8.3 million as of 30 June. As of 5 August, CLEAR+ lanes operated at 62 airports, eGates were live at 50 airports and Concierge service had expanded to 39 airports.
The board declared a quarterly dividend of $0.15 per share. Share repurchases fell to $1.2 million in the first half of 2026, from $126.3 million a year earlier, while diluted shares outstanding increased to 102.8 million from 94.4 million.
