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Clear Secure vs Blackbaud: YOU and BLKB compared
Clear Secure is the larger company: $293M of revenue in its latest quarter (Q3 2026) against $293M for Blackbaud (Q3 2026). Clear Secure is growing faster (+28% against +4% a year earlier). Clear Secure is more profitable, with an operating margin of 28.3% against 20.5%.
Where the money goes: YOU and BLKB
Clear Secure (YOU) · Q3 2026
Clear Secure, Q3 2026: revenue $293M (+28% year over year), operating margin 28.3%, net earnings $53.2M, operating cash flow −$98.6M. The chart follows the revenue to costs, profit and cash.
Blackbaud (BLKB) · Q3 2026
Blackbaud, Q3 2026: revenue $293M (+4% year over year), operating margin 20.5%, net earnings $46.1M, operating cash flow $142M. The chart follows the revenue to costs, profit and cash.
| Clear Secure (YOU) | Blackbaud (BLKB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $293M | $293M |
| Revenue growth, Y/Y | +28% | +4% |
| Gross margin | — | 60.8% |
| Operating margin | 28.3% | 20.5% |
| Net earnings | $53.2M | $46.1M |
| Net margin | 18.2% | 15.7% |
| Operating cash flow | −$98.6M | $142M |
| Free cash flow | — | $139M |
| Market value | $3.8B | — |
| P/E | 16.2× | — |
| Analysts’ mean target | $66.33 | — |
Where the revenue comes from
Blackbaud
- Recurring: $287M (98%)
- One-time services and other: $5.6M (2%)
Questions
Which is bigger, Clear Secure or Blackbaud?
Clear Secure is the larger company: $293M of revenue in its latest quarter (Q3 2026) against $293M for Blackbaud (Q3 2026).
Is Clear Secure or Blackbaud growing faster?
Clear Secure is growing faster (+28% against +4% a year earlier).
Which is more profitable, Clear Secure or Blackbaud?
Clear Secure is more profitable, with an operating margin of 28.3% against 20.5%.
More: Clear Secure earnings · how Clear Secure makes money · Blackbaud earnings · how Blackbaud makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.