Filing Flows › Clear Secure (YOU) › Q4 2025
Clear Secure (YOU) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Clear Secure (YOU) reported revenue of $241M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +5% from the quarter before. Operating margin was 22.4%, net earnings $30.8M (12.8% of revenue).
Clear Secure, Q4 2025: revenue $241M (+17% year over year), operating margin 22.4%, net earnings $30.8M, operating cash flow $198M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $241M | +5% | +17% |
| Operating profit | $53.9M | +2% | +58% |
| Net earnings | $30.8M | +9% | -70% |
| Operating cash flow | $198M | — | +45% |
| Free cash flow | $187M | — | +40% |
What changed
Revenue was $240.8M in Q4 2025, up 17% year over year and up 5% from the previous quarter.
Operating profit was $53.9M, a 22.4% margin (up 5.9 points year over year). Of the extra revenue versus a year earlier, 58% reached operating profit, above the 17% margin then. Total costs grew 9% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $30.8M, down 70% year over year. The effective tax rate was 18.2%.
Operating cash flow was $198.4M (up 45% year over year), 426% of net income including minority interests. Non-cash charges added back $13.9M of depreciation and amortization and $11.3M of share-based compensation. Working capital and other items added $126.7M. After purchases of property and equipment ($11.0M), free cash flow as the company reports it was $187.4M.
Questions
What was Clear Secure's revenue in the fourth quarter 2025?
Clear Secure (YOU) reported revenue of $241M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and +5% from the quarter before.
Was Clear Secure profitable in the fourth quarter 2025?
Operating profit was $53.9M (22.4% of revenue) and net earnings $30.8M.
Source: Clear Secure 10-K on SEC EDGAR.