Filing Flows › Clear Secure (YOU) › Q3 2025
Clear Secure (YOU) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Clear Secure (YOU) reported revenue of $229M for the third quarter 2025 (Q3 2025), +16% from a year earlier and +4% from the quarter before. Operating margin was 23.0%, net earnings $28.3M (12.3% of revenue).
Clear Secure, Q3 2025: revenue $229M (+16% year over year), operating margin 23.0%, net earnings $28.3M, operating cash flow −$47.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $229M | +4% | +16% |
| Operating profit | $52.6M | +24% | +50% |
| Net earnings | $28.3M | +14% | +21% |
| Operating cash flow | −$47.3M | -138% | — |
What changed
Revenue was $229.2M in Q3 2025, up 16% year over year and up 4% from the previous quarter.
Operating profit was $52.6M, a 23.0% margin (up 5.3 points year over year). Of the extra revenue versus a year earlier, 57% reached operating profit, above the 18% margin then. Total costs grew 8% against revenue growth of 16%. The fastest-growing cost line was Sales & marketing (+11%). Net earnings were $28.3M, up 21% year over year. The effective tax rate was 25.8%.
Operating cash flow was −$47.3M. Non-cash charges added back $7.4M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items used $109.5M. Capital expenditures of $6.2M exceeded it, leaving free cash flow of −$53.5M.
Questions
What was Clear Secure's revenue in the third quarter 2025?
Clear Secure (YOU) reported revenue of $229M for the third quarter 2025 (Q3 2025), +16% from a year earlier and +4% from the quarter before.
Was Clear Secure profitable in the third quarter 2025?
Operating profit was $52.6M (23.0% of revenue) and net earnings $28.3M.
Source: Clear Secure 10-Q on SEC EDGAR.