Clear Secure (YOU) Q4 FY2021 earnings: revenue $81 million

Clear Secure, Inc. (YOU) reported revenue of $81 million for Q4 FY2021, the quarter ended 31 December 2021. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2022.

Revenue

$81 million

+19.4% on the quarter

Q2 FY2020Q4 FY2021

Operating margin

-39.1%

Q2 FY2020Q4 FY2021

Net income

n/a

Q2 FY2020Q4 FY2021

Diluted EPS

n/a

Q2 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Revenue	80.7	67.6	n/a	+19.4%
Research and development	14.2	n/a	n/a
Operating income	-31.5	-32.6	n/a
Operating margin	-39.1%	-48.2%	n/a
Pre-tax income	-31.2	n/a	n/a
Income tax	-0.0	n/a	n/a
Net income	n/a	-16.9	n/a
Diluted EPS	n/a	-$0.23	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Operating cash flow	31.7	n/a	n/a
Capital expenditure	6.1	n/a	n/a
Free cash flow	25.6	n/a	n/a
Free cash flow margin	31.8%	n/a	n/a
Cash from investing	-82.7	n/a	n/a
Cash from financing	-0.6	n/a	n/a
Depreciation and amortisation	3.2	4.0	n/a	-20.6%
Share-based compensation	15.9	n/a	n/a
Dividends paid	0.0	n/a	n/a
Diluted shares, weighted	76m	72m	n/a	+4.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	A year earlier	On the quarter
Shareholders' equity	278	286	n/a	-3.0%
Non-controlling interest	262	n/a	n/a
Redeemable equity	0.0	n/a	n/a
Debt	0.0	0.0	n/a
Operating lease liabilities	0.0	n/a	n/a
Other liabilities	273	n/a	n/a
Total liabilities and equity	813	n/a	n/a
Fixed assets	44.5	n/a	n/a
Goodwill	59.8	n/a	n/a
Intangible assets	22.9	n/a	n/a
Investments	335	n/a	n/a
Cash and equivalents	280	338	n/a	-17.1%
Receivables	5.3	n/a	n/a
Other assets	64.8	n/a	n/a
Total assets	813	n/a	n/a

Questions

What was Clear Secure's revenue in Q4 FY2021?

Clear Secure (YOU) reported revenue of $81 million for Q4 FY2021, the quarter ended 31 December 2021.

When did Clear Secure report Q4 FY2021 results?

Clear Secure filed its 10-K for the year that ended with the quarter on 30 March 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	80.7	90.5	103	116	128	132	150	160	171	179	187	198	206	211	219	229	241	253	278	293
R&D	14.2	15.5	14.3	16.5	20.4	21.9	22.3	11.8	18.4	20.1	17.4	17.4	18.4	19.0	18.2	18.0	17.2	19.5	17.8	20.3
Operating income	-31.5	-18.2	-13.1	-65.7	-32.0	-15.1	0.2	19.3	15.7	23.7	30.3	35.1	34.1	37.4	42.6	52.6	53.9	62.0	83.0	82.9
Operating margin	-39%	-20%	-13%	-57%	-25%	-11%	0%	12%	9%	13%	16%	18%	17%	18%	19%	23%	22%	25%	30%	28%
Pre-tax income	-31.2	-18.5	-12.5	-66.1	-20.4	-8.4	8.2	27.6	23.1	34.1	39.0	42.8	-49.2	44.0	44.3	60.9	56.9	70.7	91.4	93.1
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	3%	3%	-1%	6%	1%	11%	n/a	12%	15%	26%	18%	20%	21%	19%
Net income	n/a	-10.3	-7.2	-36.8	-11.3	-5.2	4.0	15.3	14.0	18.8	24.1	23.5	103	25.4	24.7	28.3	30.8	38.8	50.0	53.2
Net margin	n/a	-11%	-7%	-32%	-9%	-4%	3%	10%	8%	11%	13%	12%	50%	12%	11%	12%	13%	15%	18%	18%
Diluted EPS	n/a	-$0.13	-$0.09	-$0.44	-$0.14	-$0.06	$0.04	$0.17	$0.15	$0.20	$0.26	$0.25	$0.85	$0.26	$0.26	$0.29	$0.31	$0.38	$0.49	$0.52
Operating cash flow	31.7	24.9	50.9	13.2	79.3	60.8	75.0	-4.9	94.1	80.3	115	-35.9	137	98.3	123	-47.3	198	190	201	-98.6
Capital expenditure	6.1	5.5	9.7	7.9	8.3	9.4	8.4	4.0	3.7	2.8	4.4	2.0	2.8	7.1	5.1	6.2	11.0	4.9	12.2	5.3
Free cash flow	25.6	19.4	41.2	5.3	71.0	51.3	66.6	-8.9	90.4	77.6	110	-37.9	134	91.3	118	-53.5	187	185	189	-104
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	6.3	8.2	8.5	9.3	9.4	12.2	11.7	11.8	12.1	12.2	15.1	15.1	15.1
Shares outstanding	n/a	n/a	n/a	n/a	88m	n/a	n/a	n/a	n/a	n/a	n/a	n/a	137m	133m	133m	133m	133m	134m	135m	131m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 30 March 2022: the filing.