Clear Secure (YOU) Q3 FY2026 earnings: revenue $293 million, up 27.8% on the year

Clear Secure, Inc. (YOU) reported revenue of $293 million for Q3 FY2026, the quarter ended 30 September 2026, up 27.8% on the same quarter a year earlier. Net income was $53 million, up 88.0% on the year, and diluted earnings per share $0.52. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$293 million

+27.8% on the year · +5.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

28.3%

23.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

$53 million

+88.0% on the year · +6.2% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.52

+79.3% on the year · +6.1% on the quarter

Q4 FY2024Q3 FY2026

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

What management said

Guidance figures: 2 raised, 2 new.

Revenue rose 27.8% year over year: Revenue was $292.9 million, up from $229.2 million a year earlier. Revenue was above the $284-287 million guided in the second-quarter release.
Total Bookings grew 24.4%: Total Bookings were $323.5 million, compared with 32.8% growth reported for the second quarter. Bookings were above the $311-316 million guided for the quarter.
Total CLEAR Members reached 46.7 million: Total CLEAR Members were 46.7 million at September 30, up from 43.5 million at June 30 and 35.8 million a year earlier.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	293	278	229	+5.4%	+27.8%
Research and development	20.3	17.8	18.0	+14.4%	+13.0%
Operating income	82.9	83.0	52.6	-0.0%	+57.6%
Operating margin	28.3%	29.9%	23.0%
Pre-tax income	93.1	91.4	60.9	+1.9%	+53.0%
Income tax	17.8	19.0	15.7	-6.7%	+13.0%
Effective tax rate	19.1%	20.8%	25.8%
Net income	53.2	50.0	28.3	+6.2%	+88.0%
Net margin	18.2%	18.0%	12.3%
Diluted EPS	$0.52	$0.49	$0.29	+6.1%	+79.3%

$ million except per share.

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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-98.6	201	-47.3
Capital expenditure	5.3	12.2	6.2	-56.8%	-14.8%
Free cash flow	-104	189	-53.5
Free cash flow margin	-35.5%	68.0%	-23.3%
Cash from investing	226	-214	56.4		+300.7%
Cash from financing	-223	-29.6	-22.6
Depreciation and amortisation	6.8	6.7	7.4	+2.3%	-8.2%
Share-based compensation	13.7	11.1	9.6	+23.3%	+42.7%
Dividends paid	15.1	15.1	12.1	-0.3%	+24.4%
Diluted shares, weighted	103m	103m	98m	-0.1%	+5.0%
Shares outstanding at period end	131m	135m	133m	-2.9%	-1.4%

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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	120	206	149	-41.7%	-19.1%
Non-controlling interest	10.3	36.9	17.4	-72.2%	-41.0%
Debt	0.0	0.0	0.0
Operating lease liabilities	103	104	108	-1.2%	-5.2%
Other liabilities	1,029	1,231	852	-16.4%	+20.9%
Total liabilities and equity	1,262	1,578	1,126	-20.0%	+12.1%
Fixed assets	62.4	62.7	54.9	-0.6%	+13.7%
Goodwill	62.7	62.7	62.7	0.0%	0.0%
Intangible assets	2.4	2.5	10.3	-3.8%	-76.3%
Investments	598	831	455	-28.1%	+31.4%
Cash and equivalents	35.4	128	75.8	-72.4%	-53.3%
Receivables	0.9	1.3	1.6	-27.0%	-43.5%
Other assets	501	490	466	+2.3%	+7.6%
Total assets	1,262	1,578	1,126	-20.0%	+12.1%

Questions

What was Clear Secure's revenue in Q3 FY2026?

Clear Secure (YOU) reported revenue of $293 million for Q3 FY2026, the quarter ended 30 September 2026, up 27.8% on the same quarter a year earlier.

How much did Clear Secure earn in Q3 FY2026?

Net income for Q3 FY2026 was $53 million, up 88.0% on the year, and diluted earnings per share $0.52.

When did Clear Secure report Q3 FY2026 results?

Clear Secure filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

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-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.