Clear Secure (YOU) Q4 FY2023 earnings: revenue $171 million, up 33.3% on the year

Clear Secure, Inc. (YOU) reported revenue of $171 million for Q4 FY2023, the quarter ended 31 December 2023, up 33.3% on the same quarter a year earlier. Net income was $14 million, and diluted earnings per share $0.15. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.

Revenue$171 millionup 33.3%

Net income$14 million

Diluted EPS$0.15

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	171	160	n/a	n/a
Research and development	18.4	11.8	n/a	n/a
Operating income	15.7	19.3	n/a	n/a
Operating margin	9.2%	12.0%	n/a
Pre-tax income	23.1	27.6	n/a	n/a
Income tax	-0.1	0.8	n/a	n/a
Effective tax rate	-0.5%	2.7%	n/a
Net income	14.0	15.3	n/a	n/a
Net margin	8.2%	9.6%	n/a
Diluted EPS	$0.15	$0.17	n/a	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 and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	94.1	-4.9	n/a	n/a
Capital expenditure	3.7	4.0	n/a	n/a
Free cash flow	90.4	-8.9	n/a	n/a
Free cash flow margin	52.9%	-5.5%	n/a
Cash from investing	11.9	30.6	n/a	n/a
Cash from financing	-112	-22.6	n/a	n/a
Depreciation and amortisation	6.2	5.3	n/a	n/a
Share-based compensation	2.2	4.2	n/a	n/a
Diluted shares, weighted	90m	90m	n/a	n/a

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

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	233	276	n/a	n/a
Non-controlling interest	136	182	n/a	n/a
Debt	0.0	0.0	n/a	n/a
Operating lease liabilities	122	123	n/a	n/a
Other liabilities	554	481	n/a	n/a
Total liabilities and equity	1,045	1,062	n/a	n/a
Fixed assets	62.6	65.8	n/a	n/a
Goodwill	62.8	62.8	n/a	n/a
Intangible assets	20.8	21.7	n/a	n/a
Investments	665	673	n/a	n/a
Cash and equivalents	57.9	63.5	n/a	n/a
Receivables	0.5	0.7	n/a	n/a
Other assets	175	174	n/a	n/a
Total assets	1,045	1,062	n/a	n/a

Questions

What was Clear Secure's revenue in Q4 FY2023?

Clear Secure (YOU) reported revenue of $171 million for Q4 FY2023, the quarter ended 31 December 2023, up 33.3% on the same quarter a year earlier.

How much did Clear Secure earn in Q4 FY2023?

Net income for Q4 FY2023 was $14 million, and diluted earnings per share $0.15.

When did Clear Secure report Q4 FY2023 results?

Clear Secure filed its 10-K for the year that ended with the quarter on 28 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	160	171	179	187	198	206	211	219	229	241	253	278
R&D	11.8	18.4	20.1	17.4	17.4	18.4	19.0	18.2	18.0	17.2	19.5	17.8
Operating income	19.3	15.7	23.7	30.3	35.1	34.1	37.4	42.6	52.6	53.9	62.0	83.0
Operating margin	12%	9%	13%	16%	18%	17%	18%	19%	23%	22%	25%	30%
Pre-tax income	27.6	23.1	34.1	39.0	42.8	-49.2	44.0	44.3	60.9	56.9	70.7	91.4
Tax rate	3%	-1%	6%	1%	11%	n/a	12%	15%	26%	18%	20%	21%
Net income	15.3	14.0	18.8	24.1	23.5	103	25.4	24.7	28.3	30.8	38.8	50.0
Net margin	10%	8%	11%	13%	12%	50%	12%	11%	12%	13%	15%	18%
Diluted EPS	$0.17	$0.15	$0.20	$0.26	$0.25	$0.85	$0.26	$0.26	$0.29	$0.31	$0.38	$0.49
Operating cash flow	-4.9	94.1	80.3	115	-35.9	137	98.3	123	-47.3	198	190	201
Capital expenditure	4.0	3.7	2.8	4.4	2.0	2.8	7.1	5.1	6.2	11.0	4.9	12.2
Free cash flow	-8.9	90.4	77.6	110	-37.9	134	91.3	118	-53.5	187	185	189
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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.

Source

10-K for the period ended 31 December 2023, filed 28 February 2024, accession 0001856314-24-000023: the filing on EDGAR. All of Clear Secure, Inc.'s filings: EDGAR company page.

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