Clear Secure, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 25, 2026
YOU$55.09-1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(dollars in thousands, except share and per share data)
| For the year ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenue | $900,779 | $770,488 | $613,579 |
| Operating expenses: | |||
| Cost of revenue share fee | 127,848 | 108,117 | 88,647 |
| Cost of direct salaries and benefits | 192,616 | 173,033 | 142,820 |
| Research and development | 72,383 | 73,352 | 74,444 |
| Sales and marketing | 54,449 | 48,809 | 43,525 |
| General and administrative | 232,381 | 217,506 | 222,356 |
| Depreciation and amortization | 34,624 | 26,480 | 21,649 |
| Operating income | 186,478 | 123,191 | 20,138 |
| Other income (expense) | |||
| Interest income, net | 24,383 | 32,509 | 29,013 |
| Other (expense) income, net | (4,791) | (89,073) | 1,461 |
| Income before tax | 206,070 | 66,627 | 50,612 |
| Income tax (expense) benefit | (37,923) | 158,647 | (724) |
| Net income | 168,147 | 225,274 | 49,888 |
| Less: net income attributable to non-controlling interests | 58,979 | 55,598 | 21,780 |
| Net income attributable to Clear Secure, Inc. | $109,168 | $169,676 | $28,108 |
| Net income per share of Class A and B Common Stock (Note 16) | |||
| Net income per common share basic, Class A | $1.14 | $1.81 | $0.31 |
| Net income per common share basic, Class B | $1.14 | $1.81 | $0.31 |
| Net income per common share diluted, Class A | $1.12 | $1.56 | $0.31 |
| Net income per common share diluted, Class B | $1.12 | $1.56 | $0.31 |
| Weighted-average shares of Class A Common Stock outstanding, basic | 95,436,323 | 93,010,960 | 89,695,439 |
| Weighted-average shares of Class B Common Stock outstanding, basic | 535,376 | 884,283 | 907,234 |
| Weighted-average shares of Class A Common Stock outstanding, diluted | 97,269,905 | 118,081,362 | 90,709,811 |
| Weighted-average shares of Class B Common Stock outstanding, diluted | 535,376 | 26,429,282 | 907,234 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.