Filing Flows › Clear Secure (YOU) › Q1 2025
Clear Secure (YOU) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Clear Secure (YOU) reported revenue of $211M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +2% from the quarter before. Operating margin was 17.7%, net earnings $25.4M (12.0% of revenue).
Clear Secure, Q1 2025: revenue $211M (+18% year over year), operating margin 17.7%, net earnings $25.4M, operating cash flow $98.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $211M | +2% | +18% |
| Operating profit | $37.4M | +10% | +58% |
| Net earnings | $25.4M | -75% | +35% |
| Operating cash flow | $98.3M | -28% | +22% |
| Free cash flow | $91.3M | -32% | +18% |
What changed
Revenue was $211.4M in Q1 2025, up 18% year over year and up 2% from the previous quarter.
Operating profit was $37.4M, a 17.7% margin (up 4.5 points year over year). Of the extra revenue versus a year earlier, 42% reached operating profit, above the 13% margin then. Total costs grew 12% against revenue growth of 18%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $25.4M, up 35% year over year. The effective tax rate was 12.3%.
Operating cash flow was $98.3M (up 22% year over year), 255% of net income including minority interests. Non-cash charges added back $6.5M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items added $45.4M. Capital expenditures of $7.1M left free cash flow of $91.3M.
Questions
What was Clear Secure's revenue in the first quarter 2025?
Clear Secure (YOU) reported revenue of $211M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +2% from the quarter before.
Was Clear Secure profitable in the first quarter 2025?
Operating profit was $37.4M (17.7% of revenue) and net earnings $25.4M.
Source: Clear Secure 10-Q on SEC EDGAR.