Clear Secure (NYSE:YOU) shares rose more than 6% in pre-market trading on Wednesday after the identity technology company reported second-quarter results that topped Wall Street expectations and issued stronger guidance for the months ahead.
The company posted adjusted earnings of $0.49 per share, exceeding analyst forecasts by $0.14. Quarterly revenue reached $277.8 million, ahead of the consensus estimate of $269.71 million.
Revenue growth accelerates
Revenue increased 26.6% from the same period last year, when the company generated $219.5 million in second-quarter sales.
Clear Secure also issued third-quarter revenue guidance of between $284 million and $287 million. The midpoint of $285.5 million is around 3.9% above the Wall Street consensus estimate of $274.7 million.
Adjusted EBITDA rose to $101.1 million, representing a margin of 36.4% and an improvement of 900 basis points compared with the second quarter of 2025.
Membership growth remains strong
Chief Executive Officer Caryn Seidman Becker said the company continues to benefit from growing demand for secure digital identity services.
“Identity has become critical infrastructure and CLEAR has firmly established itself as the trusted, secure identity company. Our second quarter results demonstrate the strength we are seeing across CLEAR Travel and CLEAR1, and we have never been better positioned for what’s ahead,” Becker said.
Operating income reached $83.0 million, resulting in an operating margin of 29.9%, while net income totalled $72.3 million, equivalent to a net income margin of 26.0%.
The company ended the quarter with 43.5 million CLEAR members, representing annual growth of 30.0%. Active CLEAR+ members increased 15.2% year over year to 8.3 million as of 30 June 2026.
Company raises free cash flow forecast
Following the stronger-than-expected quarter, Clear Secure increased its full-year 2026 free cash flow guidance.
The company now expects free cash flow of at least $480 million, up from its previous forecast of at least $465 million, representing annual growth of at least 39.9%.
The board of directors also declared a quarterly cash dividend of $0.15 per share, which will be paid on 24 September 2026.
The combination of stronger earnings, robust membership growth and higher guidance helped lift investor confidence and pushed the shares sharply higher before the opening bell.
Clear Secure stock price
