Clear Secure, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
YOU$55.74+1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(dollars in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net income | $121,602 | $108,703 |
| Adjustments to reconcile net income to net cash provided from operating activities: | ||
| Depreciation of property and equipment | 17,529 | 16,347 |
| Amortization of intangible assets | 3,195 | 3,156 |
| Noncash lease expense | 4,759 | 4,804 |
| Impairment of strategic investment | 4,719 | — |
| Equity-based compensation | 27,674 | 27,038 |
| Deferred income tax | 19,306 | 701 |
| Amortization of revolver loan costs | 99 | 169 |
| Gain on divestiture of a business | (635) | — |
| Premium amortization and (discount accretion), net on marketable securities | (744) | (6,330) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,285) | (113) |
| Prepaid expenses and other assets | (500) | (4,379) |
| Prepaid revenue share fee | (1,842) | (777) |
| Accounts payable | (6,160) | (475) |
| Accrued and other long term liabilities | (36,147) | (26,304) |
| Deferred revenue | 30,046 | 40,825 |
| Operating lease liabilities | (7,584) | (4,300) |
| Net cash provided by operating activities | $174,032 | $159,065 |
| Investing activities: | ||
| Purchases of marketable securities | (475,971) | (703,132) |
| Sales of marketable securities | 565,072 | 861,683 |
| Proceeds from divestiture | 2,700 | — |
| Purchase of strategic investment | (514) | (1,000) |
| Purchases of property and equipment | (18,318) | (9,259) |
| Purchases of intangible assets | — | (318) |
| Net cash provided by investing activities | $72,969 | $147,974 |
| Financing activities: | ||
| Repurchase of Class A Common Stock | (126,345) | (225,160) |
| Payment of dividend | (35,621) | (27,218) |
| Payment of special dividend | (25,316) | (28,828) |
| Distributions to members | (14,310) | (20,114) |
| Tax distribution to members | (26,096) | (24,979) |
| Payment of taxes on net settled stock-based awards | (10,881) | (6,729) |
| Other financing activities | (334) | (154) |
| Net cash used in financing activities | $(238,903) | $(333,182) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 8,098 | (26,143) |
| Cash, cash equivalents, and restricted cash, beginning of period | 70,348 | 62,401 |
| Exchange rate effect on cash and cash equivalents, and restricted cash | 85 | 37 |
| Cash, cash equivalents, and restricted cash, end of period | $78,531 | $36,295 |
| September 30,2025 | September 30,2024 | |
|---|---|---|
| Cash and cash equivalents | $75,766 | $32,885 |
| Restricted cash | 2,765 | 3,410 |
| Total cash, cash equivalents, and restricted cash | $78,531 | $36,295 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.