Clear Secure, Inc.

For the period ended Sep 30, 2025. Filed Nov 6, 2025.

About this filing

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$55.09-1.3%Stored close · as of Nov 9, 2026

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(Note 14)

Net Income per Common Share

Below is the calculation of basic and diluted net income per common share:

	Three Months Ended September 30, 2025		Three Months Ended September 30, 2024
	Class A	Class B	Class A	Class B
Basic:
Net income attributable to Clear Secure, Inc.	$28,131	$148	$23,243	$224
Weighted-average number of shares outstanding, basic	95,912,490	503,961	92,702,778	891,582
Net income per common share, basic:	$0.29	$0.29	$0.25	$0.25
Diluted:
Net income attributable to Clear Secure, Inc. used to calculate net income per common share, basic	$28,131	$148	$23,243	$224
Add: reallocation of net income to Clear Secure, Inc. to reflect dilutive impact	75	(3)	68	(3)
Net income attributable to Clear Secure, Inc. used to calculate net income per common share, diluted	28,206	145	23,311	220
Weighted-average number of shares outstanding used to calculate net income per common share, basic	95,912,490	503,961	92,702,778	891,582
Effect of dilutive shares	1,920,301	—	1,576,293	—
Weighted-average number of shares outstanding, diluted	97,832,791	503,961	94,279,071	891,582
Net income per common share, diluted:	$0.29	$0.29	$0.25	$0.25

	Nine Months Ended September 30, 2025		Nine Months Ended September 30, 2024
	Class A	Class B	Class A	Class B
Basic:
Net income attributable to Clear Secure, Inc.	$77,913	$491	$65,748	$643
Weighted-average number of shares outstanding, basic	94,744,889	597,245	92,174,755	901,979
Net income per common share, basic:	$0.82	$0.82	$0.71	$0.71
Diluted:
Net income attributable to Clear Secure, Inc. used to calculate net income per common share, basic	$77,913	$491	$65,748	$643
Add: reallocation of net income to Clear Secure, Inc. to reflect dilutive impact	342	(6)	132	(6)
Net income attributable to Clear Secure, Inc. used to calculate net income per common share, diluted	78,255	485	65,880	637
Weighted-average number of shares outstanding used to calculate net income per common share, basic	94,744,889	597,245	92,174,755	901,979
Effect of dilutive shares	1,720,710	—	1,089,188	—
Weighted-average number of shares outstanding, diluted	96,465,599	597,245	93,263,943	901,979
Net income per common share, diluted:	$0.81	$0.81	$0.71	$0.71

After evaluating the potential dilutive effect under the if-converted method, the outstanding Alclear Units for the assumed exchange of non-controlling interests were determined to be anti-dilutive and thus were excluded from the computation of diluted earnings per share.

The following tables present potentially dilutive securities excluded from the computations of diluted earnings per share of Class A and Class B Common Stock for the three and nine months ended September 30, 2025 and 2024:

	Class A	Class B
Exchangeable Alclear Units	15,945,891	19,630,246
RSU’s	85,314	—
Total	16,031,205	19,630,246

	Class A	Class B
Exchangeable Alclear Units	19,750,578	25,046,690
RSU’s	460,559	—
Total	20,211,137	25,046,690

For both the three and nine months ended September 30, 2025, the Company has excluded 5,121,346 potentially dilutive shares from the tables above as they had performance conditions that were not achieved as of the end of the periods above.

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