Clear Secure Inc(NYSE:YOU) 
Clear Secure, Inc. is an American technology company that operates biometric travel document verification system at Major United States Airport and Stadiums.
Website: https://www.clearme.com/
Founded: 2010
CEO / Founder: Caryn Seidman-Becker
Sector: Technology
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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revenue | 253,003,000 | 240,751,000 | 229,193,000 | 219,467,000 | 211,368,000 | 206,270,000 | 198,424,000 | 186,745,000 | 179,049,000 | 170,965,000 | 160,387,000 | 149,871,000 | 132,356,000 | 128,253,000 | 115,919,000 | 102,723,000 | 90,539,000 | 80,659,000 | 67,558,000 | 55,178,000 |
yoy | 19.70% | 16.72% | 15.51% | 17.52% | 18.05% | 20.65% | 23.72% | 24.60% | 35.28% | 33.30% | 38.36% | 45.90% | 46.19% | 59.01% | 71.58% | 86.17% | ||||
qoq | 5.09% | 5.04% | 4.43% | 3.83% | 2.47% | 3.95% | 6.25% | 4.30% | 4.73% | 6.60% | 7.02% | 13.23% | 3.20% | 10.64% | 12.85% | 13.46% | 12.25% | 19.39% | 22.44% | |
operating expenses: | ||||||||||||||||||||
cost of revenue share fee | 36,878,000 | 35,404,000 | 31,679,000 | 31,198,000 | 29,567,000 | 29,068,000 | 28,592,000 | 26,093,000 | 24,364,000 | 24,973,000 | 22,885,000 | 21,219,000 | 19,570,000 | 17,069,000 | 14,743,000 | 12,313,000 | 12,142,000 | 11,211,000 | 9,926,000 | 8,300,000 |
cost of direct salaries and benefits | 48,252,000 | 46,447,000 | 47,728,000 | 47,699,000 | 50,742,000 | 47,835,000 | 44,825,000 | 40,085,000 | 40,288,000 | 40,133,000 | 35,337,000 | 34,204,000 | 33,146,000 | 29,576,000 | 26,918,000 | 25,313,000 | 22,980,000 | 21,617,000 | 18,128,000 | 15,836,000 |
research and development | 19,451,000 | 17,159,000 | 17,996,000 | 18,229,000 | 18,999,000 | 18,413,000 | 17,424,000 | 17,411,000 | 20,104,000 | 18,400,000 | 11,790,000 | 22,310,000 | 21,944,000 | 20,446,000 | 16,508,000 | 14,333,000 | 15,512,000 | 14,197,000 | 13,347,000 | 10,941,000 |
sales and marketing | 15,954,000 | 13,640,000 | 12,938,000 | 14,485,000 | 13,386,000 | 14,573,000 | 11,607,000 | 11,007,000 | 11,622,000 | 13,493,000 | 9,735,000 | 10,788,000 | 9,509,000 | 11,958,000 | 10,530,000 | 11,365,000 | 7,826,000 | 9,394,000 | 9,949,000 | 10,901,000 |
general and administrative | 63,637,000 | 60,295,000 | 58,816,000 | 58,532,000 | 54,738,000 | 55,326,000 | 53,919,000 | 55,371,000 | 52,890,000 | 52,033,000 | 56,101,000 | 56,144,000 | 58,078,000 | 75,666,000 | 108,389,000 | 48,193,000 | 45,926,000 | 52,612,000 | 44,816,000 | 44,282,000 |
depreciation and amortization | 6,830,000 | 13,900,000 | 7,424,000 | 6,768,000 | 6,532,000 | 6,977,000 | 6,970,000 | 6,441,000 | 6,092,000 | 6,233,000 | 5,260,000 | 4,989,000 | 5,167,000 | 5,549,000 | 4,531,000 | 4,328,000 | 4,384,000 | 3,168,000 | 3,988,000 | 2,664,000 |
operating income | 62,001,000 | 53,906,000 | 52,612,000 | 42,556,000 | 37,404,000 | 34,078,000 | 35,087,000 | 30,337,000 | 23,689,000 | 15,700,000 | 19,279,000 | 217,000 | -15,058,000 | -32,011,000 | -65,700,000 | -13,122,000 | -18,231,000 | -31,540,000 | -32,596,000 | -37,746,000 |
yoy | 65.76% | 58.18% | 49.95% | 40.28% | 57.90% | 117.06% | 82.00% | 13880.18% | -257.32% | -149.05% | -129.34% | -101.65% | -17.40% | 1.49% | 101.56% | -65.24% | ||||
qoq | 15.02% | 2.46% | 23.63% | 13.77% | 9.76% | -2.88% | 15.66% | 28.06% | 50.89% | -18.56% | 8784.33% | -101.44% | -52.96% | -51.28% | 400.69% | -28.02% | -42.20% | -3.24% | -13.64% | |
operating margin % | 24.51% | 22.39% | 22.96% | 19.39% | 17.70% | 16.52% | 17.68% | 16.25% | 13.23% | 9.18% | 12.02% | 0.14% | -11.38% | -24.96% | -56.68% | -12.77% | -20.14% | -39.10% | -48.25% | -68.41% |
other income: | ||||||||||||||||||||
interest income | 6,761,000 | 5,803,000 | 6,622,000 | 5,805,000 | 6,153,000 | 7,085,000 | 7,252,000 | 8,247,000 | 9,925,000 | 7,550,000 | 7,677,000 | 7,394,000 | 6,392,000 | 4,756,000 | 1,636,000 | 187,000 | 7,000 | -16,000 | -120,000 | -142,000 |
other income | 1,983,000 | -2,825,000 | 1,641,000 | -4,055,000 | 448,000 | -90,364,000 | 436,000 | 416,000 | 439,000 | -108,000 | 661,000 | 634,000 | 274,000 | 6,814,000 | -2,031,000 | 465,000 | -268,000 | 355,000 | -11,000 | |
income before tax | 70,745,000 | 56,884,000 | 60,875,000 | 44,306,000 | 44,005,000 | -49,201,000 | 42,775,000 | 39,000,000 | 34,053,000 | 23,142,000 | 27,617,000 | 8,245,000 | -31,201,000 | -32,727,000 | -37,888,000 | |||||
income tax expense | -14,361,000 | -6,896,000 | -15,731,000 | -6,431,000 | -5,422,000 | -1,781,250 | -4,751,000 | -409,000 | -302,000 | -69,250 | -60,000 | -211,000 | ||||||||
net income | 56,384,000 | 46,545,000 | 45,144,000 | 37,875,000 | 38,583,000 | 116,571,000 | 38,024,000 | 38,591,000 | 32,088,000 | 23,264,000 | 26,863,000 | 8,034,000 | -8,273,000 | -18,760,000 | -65,559,000 | -12,323,000 | -18,794,000 | -31,157,000 | -32,787,000 | -38,099,000 |
yoy | 46.14% | -60.07% | 18.73% | -1.86% | 20.24% | 401.08% | 41.55% | 380.35% | -487.86% | -224.01% | -140.98% | -165.20% | -55.98% | -39.79% | 99.95% | -67.66% | ||||
qoq | 21.14% | 3.10% | 19.19% | -1.84% | -66.90% | 206.57% | -1.47% | 20.27% | 37.93% | -13.40% | 234.37% | -197.11% | -55.90% | -71.38% | 432.01% | -34.43% | -39.68% | -4.97% | -13.94% | |
net income margin % | 22.29% | 19.33% | 19.70% | 17.26% | 18.25% | 56.51% | 19.16% | 20.67% | 17.92% | 13.61% | 16.75% | 5.36% | -6.25% | -14.63% | -56.56% | -12.00% | -20.76% | -38.63% | -48.53% | -69.05% |
less: net income attributable to non-controlling interests | 17,589,000 | 15,783,000 | 16,865,000 | 13,153,000 | 13,178,000 | 13,285,000 | 14,559,000 | 14,472,000 | 13,282,000 | 9,289,000 | 11,517,000 | 4,023,000 | -16,273,750 | -15,872,000 | ||||||
net income attributable to clear secure, inc. | 38,795,000 | 30,762,000 | 28,279,000 | 24,722,000 | 25,405,000 | 103,286,000 | 23,465,000 | 24,119,000 | 18,806,000 | 13,975,000 | 15,346,000 | 4,011,000 | ||||||||
net income per share | ||||||||||||||||||||
net income per common share basic, class a | 0.39 | 0.32 | 0.29 | 0.26 | 0.26 | 1.1 | 0.25 | 0.26 | 0.2 | 0.15 | 0.17 | 0.04 | ||||||||
net income per common share basic, class b | 0.39 | 0.32 | 0.29 | 0.26 | 0.26 | 1.1 | 0.25 | 0.26 | 0.2 | 0.15 | 0.17 | 0.04 | ||||||||
net income per common share diluted, class a | 0.38 | 0.31 | 0.29 | 0.26 | 0.26 | 0.85 | 0.25 | 0.26 | 0.2 | 0.16 | 0.17 | 0.04 | ||||||||
net income per common share diluted, class b | 0.38 | 0.31 | 0.29 | 0.26 | 0.26 | 0.85 | 0.25 | 0.26 | 0.2 | 0.16 | 0.17 | 0.04 | ||||||||
weighted-average shares of class a common stock outstanding, basic | 99,206,588 | 95,436,323 | 95,912,490 | 92,990,661 | 95,323,648 | 93,010,960 | 92,702,778 | 91,984,045 | 91,831,639 | 89,695,439 | 89,189,192 | 89,569,933 | ||||||||
weighted-average shares of class b common stock outstanding, basic | 307,343 | 535,376 | 503,961 | 612,443 | 677,234 | 884,283 | 891,582 | 907,234 | 907,234 | 907,234 | 907,234 | 907,234 | ||||||||
weighted-average shares of class a common stock outstanding, diluted | 101,047,591 | 97,269,905 | 97,832,791 | 94,418,159 | 96,840,018 | 118,081,362 | 94,279,071 | 92,605,019 | 92,506,108 | 90,709,811 | 89,968,555 | 90,372,444 | ||||||||
weighted-average shares of class b common stock outstanding, diluted | 307,343 | 535,376 | 503,961 | 612,443 | 677,234 | 26,429,282 | 891,582 | 907,234 | 907,234 | 907,234 | 907,234 | 907,234 | ||||||||
income tax benefit | -1,965,000 | 122,000 | -754,000 | -211,000 | 119,000 | 1,681,000 | 536,000 | 147,000 | ||||||||||||
loss before tax | -8,392,000 | -20,441,000 | -66,095,000 | -12,470,000 | -18,492,000 | |||||||||||||||
less: net loss attributable to non-controlling interests | -3,049,000 | -7,433,000 | -28,795,000 | -5,168,000 | -8,467,000 | -36,095,000 | ||||||||||||||
net loss attributable to clear secure, inc. | -5,224,000 | -11,327,000 | -36,764,000 | -7,155,000 | -10,327,000 | -4,729,750 | -16,915,000 | -2,004,000 | ||||||||||||
net loss per common share basic and diluted, class a | -0.06 | -0.13 | -0.44 | -0.09 | ||||||||||||||||
net loss per common share basic and diluted, class b | -0.06 | -0.13 | -0.44 | -0.09 | ||||||||||||||||
weighted-average shares of class a common stock outstanding | 89,614,791 | 81,117,184 | 82,426,486 | 79,420,204 | 76,672,530 | 75,515,242,000 | ||||||||||||||
weighted-average shares of class b common stock outstanding | 907,234 | 1,007,686 | 1,022,669 | 1,042,234 | 1,042,234 | 1,042,234,000 | ||||||||||||||
net income per share | ||||||||||||||||||||
basic and diluted | -0.13 | |||||||||||||||||||
net loss per common share of class a and b common stock | ||||||||||||||||||||
basic and diluted | -65 | -230 | -30 | |||||||||||||||||
weighted-average shares of common a stock outstanding | 72,285,100,000 | 57,371,788,000 | ||||||||||||||||||
weighted-average shares of common b stock outstanding | 1,042,234,000 | 1,042,234,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 170,675,000 | 85,734,000 | 75,766,000 | 89,305,000 | 87,563,000 | 66,892,000 | 32,885,000 | 39,108,000 | 64,134,000 | 57,900,000 | 63,522,000 | 57,248,000 | 39,089,000 | 38,939,000 | 329,077,000 | 339,736,000 | 299,134,000 | 280,107,000 | 337,791,000 | 168,302,000 |
marketable securities | 629,401,000 | 614,439,000 | 454,876,000 | 516,425,000 | 442,318,000 | 542,605,000 | 511,812,000 | 630,510,000 | 634,327,000 | 665,197,000 | 673,044,000 | 707,769,000 | 708,919,000 | 665,810,000 | 342,310,000 | 333,933,000 | 334,353,000 | 335,228,000 | ||
accounts receivable | 1,062,000 | 1,925,000 | 1,631,000 | 1,054,000 | 512,000 | 511,000 | 639,000 | 1,124,000 | 621,000 | 526,000 | 736,000 | 929,000 | 962,000 | 1,169,000 | 2,102,000 | 3,016,000 | 7,525,000 | 5,331,000 | 3,921,000 | 1,440,000 |
prepaid revenue share fee | 28,629,000 | 29,679,000 | 26,494,000 | 23,857,000 | 25,081,000 | 24,652,000 | 25,179,000 | 22,591,000 | 23,963,000 | 24,402,000 | 20,539,000 | 19,433,000 | 17,774,000 | 17,585,000 | 16,010,000 | 13,031,000 | 11,573,000 | 10,272,000 | 8,921,000 | 6,918,000 |
prepaid expenses and other current assets | 35,088,000 | 32,837,000 | 30,271,000 | 22,924,000 | 26,407,000 | 27,558,000 | 25,222,000 | 20,433,000 | 20,590,000 | 22,009,000 | 23,202,000 | 21,166,000 | 17,855,000 | 18,097,000 | 16,985,000 | 12,869,000 | 15,760,000 | 22,140,000 | 14,465,000 | 19,073,000 |
total current assets | 864,855,000 | 764,614,000 | 589,038,000 | 653,565,000 | 581,881,000 | 662,218,000 | 595,737,000 | 713,766,000 | 743,635,000 | 770,034,000 | 781,043,000 | 806,545,000 | 784,599,000 | 741,600,000 | 706,484,000 | 702,585,000 | 668,345,000 | 653,078,000 | 700,555,000 | 233,559,000 |
property and equipment | 57,862,000 | 59,331,000 | 54,850,000 | 53,877,000 | 55,449,000 | 56,869,000 | 57,760,000 | 59,290,000 | 60,127,000 | 62,611,000 | 65,801,000 | 64,588,000 | 68,039,000 | 57,924,000 | 56,053,000 | 52,837,000 | 46,123,000 | 44,522,000 | 45,875,000 | 43,570,000 |
right of use asset | 98,803,000 | 100,048,000 | 101,603,000 | 103,143,000 | 107,271,000 | 108,885,000 | 111,046,000 | 112,655,000 | 114,270,000 | 115,874,000 | 117,399,000 | 119,001,000 | 120,592,000 | 123,880,000 | 18,006,000 | 23,890,000 | 24,625,000 | |||
intangible assets | 2,641,000 | 2,753,000 | 10,260,000 | 11,296,000 | 14,200,000 | 15,300,000 | 16,875,000 | 18,226,000 | 20,083,000 | 20,825,000 | 21,687,000 | 20,782,000 | 21,485,000 | 22,292,000 | 23,048,000 | 23,655,000 | 24,238,000 | 22,933,000 | 2,267,000 | 1,817,000 |
goodwill | 62,684,000 | 62,684,000 | 62,684,000 | 62,684,000 | 62,757,000 | 62,757,000 | 62,757,000 | 62,757,000 | 62,757,000 | 62,757,000 | 62,757,000 | 58,807,000 | 58,807,000 | 58,807,000 | 58,807,000 | 58,381,000 | 58,381,000 | 59,792,000 | ||
restricted cash | 2,851,000 | 2,764,000 | 2,765,000 | 2,774,000 | 3,120,000 | 3,456,000 | 3,410,000 | 3,597,000 | 3,590,000 | 4,501,000 | 5,065,000 | 8,094,000 | 30,882,000 | 29,945,000 | 29,333,000 | 29,307,000 | 29,241,000 | 29,019,000 | 22,835,000 | 22,932,000 |
other assets | 332,492,000 | 311,198,000 | 304,547,000 | 292,693,000 | 286,656,000 | 285,447,000 | 10,992,000 | 12,091,000 | 12,579,000 | 8,407,000 | 8,206,000 | 8,080,000 | 9,189,000 | 3,069,000 | 3,060,000 | 3,221,000 | 3,102,000 | 3,406,000 | 1,694,000 | 1,917,000 |
total assets | 1,422,188,000 | 1,303,392,000 | 1,125,747,000 | 1,180,032,000 | 1,111,334,000 | 1,194,932,000 | 858,577,000 | 982,382,000 | 1,017,041,000 | 1,045,009,000 | 1,061,958,000 | 1,085,897,000 | 1,093,593,000 | 1,037,517,000 | 894,791,000 | 893,876,000 | 854,055,000 | 812,750,000 | 773,226,000 | 303,795,000 |
liabilities and stockholders' equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 6,469,000 | 7,156,000 | 8,358,000 | 6,760,000 | 6,053,000 | 18,020,000 | 10,876,000 | 8,857,000 | 7,066,000 | 11,781,000 | 14,075,000 | 3,974,000 | 11,172,000 | 7,951,000 | 8,793,000 | 10,556,000 | 6,701,000 | 8,808,000 | 10,034,000 | 7,024,000 |
accrued liabilities | 298,606,000 | 236,543,000 | 154,534,000 | 303,894,000 | 246,833,000 | 185,281,000 | 129,731,000 | 236,422,000 | 239,951,000 | 164,015,000 | 112,306,000 | 172,163,000 | 155,603,000 | 106,070,000 | 76,062,000 | 95,438,000 | 77,909,000 | 67,220,000 | 45,194,000 | 28,510,000 |
deferred revenue | 554,894,000 | 516,201,000 | 469,793,000 | 438,923,000 | 435,497,000 | 439,753,000 | 417,078,000 | 388,021,000 | 377,760,000 | 376,253,000 | 351,891,000 | 320,629,000 | 297,823,000 | 283,452,000 | 255,729,000 | 225,986,000 | 205,795,000 | 188,563,000 | 159,589,000 | 127,847,000 |
total current liabilities | 859,969,000 | 759,900,000 | 632,685,000 | 749,577,000 | 688,383,000 | 643,054,000 | 557,685,000 | 633,300,000 | 624,777,000 | 552,049,000 | 478,272,000 | 496,766,000 | 464,598,000 | 397,473,000 | 340,584,000 | 331,980,000 | 290,405,000 | 264,591,000 | 214,817,000 | 163,381,000 |
other long term liabilities | 348,585,000 | 339,107,000 | 327,061,000 | 303,767,000 | 296,963,000 | 313,938,000 | 119,854,000 | 120,818,000 | 122,989,000 | 123,736,000 | 125,311,000 | 127,321,000 | 130,483,000 | 129,123,000 | 23,887,000 | 30,328,000 | 31,234,000 | 8,691,000 | ||
total liabilities | 1,208,554,000 | 1,099,007,000 | 959,746,000 | 1,053,344,000 | 985,346,000 | 956,992,000 | 677,539,000 | 754,118,000 | 747,766,000 | 675,785,000 | 603,583,000 | 624,087,000 | 595,081,000 | 526,596,000 | 364,471,000 | 362,308,000 | 321,639,000 | 273,282,000 | 218,245,000 | 166,929,000 |
commitments and contingencies | ||||||||||||||||||||
class a common stock | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 |
class b common stock | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 14,266,787 shares issued and outstanding as of march 31, 2026 and 15,745,891 shares issued and outstanding as of december 31, 2025 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 18,630,246 shares issued and outstanding as of march 31, 2026 and 19,130,246 shares issued and outstanding as of december 31, 2025 | ||||||||||||||||||||
accumulated other comprehensive income | -315,000 | 840,000 | 808,000 | 587,000 | 522,000 | 343,000 | 1,472,000 | -103,000 | -48,000 | |||||||||||
treasury stock | ||||||||||||||||||||
retained earnings | 123,417,000 | 119,791,000 | 101,247,000 | 85,087,000 | 72,147,000 | 83,778,000 | ||||||||||||||
additional paid-in capital | 62,245,000 | 57,102,000 | 46,513,000 | 35,664,000 | 44,020,000 | 114,231,000 | 134,821,000 | 184,885,000 | 220,558,000 | 304,992,000 | 364,087,000 | 371,293,000 | 404,385,000 | 394,390,000 | 383,974,000 | 344,922,000 | 326,767,000 | 313,845,000 | 305,307,000 | 64,644,000 |
total stockholders’ equity attributable to clear secure, inc. | 185,348,000 | 177,734,000 | 148,569,000 | 121,339,000 | 116,690,000 | 198,353,000 | 128,970,000 | 153,536,000 | 165,866,000 | 233,329,000 | 275,904,000 | 266,931,000 | 296,774,000 | 291,065,000 | 291,668,000 | 290,190,000 | 279,638,000 | 277,613,000 | 286,284,000 | 62,641,000 |
non-controlling interest | 28,286,000 | 26,651,000 | 17,432,000 | 5,349,000 | 9,298,000 | 39,587,000 | 52,068,000 | 74,728,000 | 103,409,000 | 135,895,000 | 182,471,000 | 194,879,000 | 201,738,000 | 219,856,000 | 238,652,000 | 241,378,000 | 252,778,000 | 261,855,000 | 268,697,000 | 74,225,000 |
total stockholders’ equity | 213,634,000 | 204,385,000 | 166,001,000 | 126,688,000 | 125,988,000 | 237,940,000 | 181,038,000 | 228,264,000 | 269,275,000 | 369,224,000 | 458,375,000 | 461,810,000 | 498,512,000 | 510,921,000 | 530,320,000 | 531,568,000 | 532,416,000 | 539,468,000 | 554,981,000 | 136,866,000 |
total liabilities and stockholders’ equity | 1,422,188,000 | 1,303,392,000 | 1,125,747,000 | 1,180,032,000 | 1,111,334,000 | 1,194,932,000 | 858,577,000 | 982,382,000 | 1,017,041,000 | 1,045,009,000 | 1,061,958,000 | 1,085,897,000 | 1,093,593,000 | 1,037,517,000 | 894,791,000 | 893,876,000 | 854,055,000 | |||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 15,745,891 and 15,287,620 shares issued and outstanding as of december 31, 2025 and 2024, respectively | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 19,130,246 and 24,896,690 shares issued and outstanding as of december 31, 2025 and 2024, respectively | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 15,945,891 shares issued and outstanding as of september 30, 2025 and 15,287,620 shares issued and outstanding as of december 31, 2024 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 19,630,246 shares issued and outstanding as of september 30, 2025 and 24,896,690 shares issued and outstanding as of december 31, 2024 | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 18,913,114 shares issued and outstanding as of june 30, 2025 and 15,287,620 shares issued and outstanding as of december 31, 2024 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 19,630,246 shares issued and outstanding as of june 30, 2025 and 24,896,690 shares issued and outstanding as of december 31, 2024 | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 15,196,670 shares issued and outstanding as of march 31, 2025 and 15,287,620 shares issued and outstanding as of december 31, 2024 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 24,896,690 shares issued and outstanding as of march 31, 2025 and december 31, 2024 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 15,287,620 and 32,234,914 shares issued and outstanding as of december 31, 2024 and 2023, respectively | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 24,896,690 and 25,796,690 shares issued and outstanding as of december 31, 2024 and 2023, respectively | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 19,750,578 and 32,234,914 shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,046,690 and 25,796,690 shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||||
accumulated deficit | -7,324,000 | -30,789,000 | -54,908,000 | -73,714,000 | -87,690,000 | -103,036,000 | -107,021,000 | -101,797,000 | -90,471,000 | -53,638,000 | -46,457,000 | -36,130,000 | -18,976,000 | -2,004,000 | ||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 24,292,253 shares issued and outstanding as of june 30, 2024 and 32,234,914 shares issued and outstanding as of december 31, 2023 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of june 30, 2024 and december 31, 2023 | ||||||||||||||||||||
accumulated other comprehensive loss | -561,000 | 215,000 | 2,050,000 | -494,000 | -1,327,000 | -591,000 | -1,529,000 | -1,836,000 | -1,095,000 | -673,000 | ||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 30,609,111 shares issued and outstanding as of march 31, 2024 and 32,234,914 shares issued and outstanding as of december 31, 2023 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of march 31, 2024 and december 31, 2023 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 32,234,914 and 38,290,964 shares issued and outstanding as of december 31, 2023 and 2022, respectively | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of december 31, 2023 and 2022, respectively | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 34,776,689 shares issued and outstanding as of september 30, 2023 and 38,290,964 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of september 30, 2023 and 25,796,690 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 36,092,191 shares issued and outstanding as of june 30, 2023 and 38,290,964 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of june 30, 2023 and 25,796,690 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 36,242,191 shares issued and outstanding as of march 31, 2023 and 38,290,964 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of march 31, 2023 and 25,796,690 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 38,290,964 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 25,796,690 shares issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value - 200,000,000 shares authorized; 39,875,682 shares issued and outstanding as of september 30, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value - 100,000,000 shares authorized; 26,337,514 shares issued and outstanding as of september 30, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 40,430,682 shares issued and outstanding as of june 30, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 26,705,315 shares issued and outstanding as of june 30, 2022 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 43,577,355 shares issued and outstanding as of march 31, 2022 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 26,705,315 shares issued and outstanding as of march 31, 2022 | ||||||||||||||||||||
liabilities, redeemable capital units and stockholders' equity | ||||||||||||||||||||
warrant liabilities | ||||||||||||||||||||
redeemable capital units | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 44,598,167 shares issued and outstanding as of december 31, 2021 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 26,709,821 shares issued and outstanding as of december 31, 2021 | ||||||||||||||||||||
profit units | ||||||||||||||||||||
total liabilities, redeemable capital units and stockholders’ equity | 812,750,000 | 773,226,000 | 303,795,000 | |||||||||||||||||
marketable debt securities | 335,457,000 | 37,826,000 | ||||||||||||||||||
deferred rent | 3,428,000 | 3,548,000 | ||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 44,598,167 shares issued and outstanding as of september 30, 2021 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 26,709,821 shares issued and outstanding as of september 30, 2021 | ||||||||||||||||||||
class c common stock, 0.00001 par value—200,000,000 shares authorized; 44,598,167 shares issued and outstanding as of june 30, 2021 | ||||||||||||||||||||
class d common stock, 0.00001 par value—100,000,000 shares authorized; 26,709,821 shares issued and outstanding as of june 30, 2021 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | |||||||||||||||||||
net income | 56,384,000 | 46,545,000 | 45,144,000 | 37,875,000 | 38,583,000 | 116,571,000 | 38,024,000 | 38,591,000 | 32,088,000 | 26,863,000 | 8,034,000 | -8,273,000 | -18,760,000 | -65,559,000 | -12,323,000 | -18,794,000 | -32,787,000 | ||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||
depreciation of property and equipment | 6,718,000 | 6,387,000 | 5,710,000 | 5,432,000 | 5,619,000 | 5,560,000 | 5,168,000 | 4,417,000 | 4,171,000 | 4,345,000 | |||||||||
amortization of intangible assets | 112,000 | 1,037,000 | 1,058,000 | 1,100,000 | 1,351,000 | 881,000 | 924,000 | 843,000 | 818,000 | 822,000 | |||||||||
noncash lease expense | 1,572,000 | 1,556,000 | 1,540,000 | 1,613,000 | 1,606,000 | 1,803,000 | 1,624,000 | 1,598,000 | 1,582,000 | 1,581,000 | 1,567,000 | 1,748,000 | 1,524,000 | 788,000 | 736,000 | 721,000 | |||
equity-based compensation | 11,311,000 | 11,258,000 | 9,583,000 | 10,293,000 | 7,798,000 | 8,301,000 | 6,143,000 | 10,230,000 | 10,665,000 | 4,165,000 | 14,288,000 | 16,649,000 | 40,007,000 | 73,052,000 | 12,307,000 | 13,129,000 | 14,138,000 | ||
deferred income tax | 7,749,000 | 18,372,000 | 1,724,000 | -790,000 | 673,000 | -687,000 | 715,000 | -561,000 | -72,000 | 84,000 | |||||||||
amortization of revolver loan costs | 33,000 | 33,000 | 33,000 | 34,000 | 32,000 | 33,000 | 33,000 | 49,000 | 87,000 | 88,000 | 54,000 | 110,000 | -158,000 | 201,000 | 199,000 | 198,000 | |||
premium amortization and (discount accretion), net on marketable securities | -350,000 | -659,000 | -341,000 | 256,000 | -1,841,000 | -2,156,000 | -2,333,000 | -2,346,000 | -3,415,000 | -4,074,000 | |||||||||
changes in operating assets and liabilities: | |||||||||||||||||||
accounts receivable | 863,000 | -295,000 | -577,000 | -707,000 | -1,000 | 128,000 | 485,000 | -503,000 | -95,000 | 193,000 | 33,000 | 207,000 | 933,000 | 914,000 | 4,509,000 | -2,194,000 | -2,481,000 | ||
prepaid expenses and other assets | -2,741,000 | -3,236,000 | -7,183,000 | 3,945,000 | 2,738,000 | -2,147,000 | -3,723,000 | 1,605,000 | -2,261,000 | -2,249,000 | 406,000 | -2,255,000 | -2,147,000 | -5,306,000 | 1,972,000 | 6,472,000 | |||
prepaid revenue share fee | 1,050,000 | -3,185,000 | -2,637,000 | 1,224,000 | -429,000 | 527,000 | -2,588,000 | 1,372,000 | 439,000 | -1,106,000 | -1,659,000 | -189,000 | -1,575,000 | -2,979,000 | -1,459,000 | -1,300,000 | -2,002,000 | ||
accounts payable | -1,776,000 | -208,000 | 711,000 | 850,000 | -7,721,000 | 2,673,000 | 2,149,000 | 1,565,000 | -4,189,000 | 8,562,000 | -5,211,000 | 2,548,000 | 19,000 | -2,304,000 | 3,670,000 | -2,137,000 | 4,092,000 | ||
accrued and other long term liabilities | 72,123,000 | 82,067,000 | -148,586,000 | 56,756,000 | 55,683,000 | 147,268,000 | -111,334,000 | 47,612,000 | 37,418,000 | -75,186,000 | 34,494,000 | 29,702,000 | 28,545,000 | -18,623,000 | |||||
deferred revenue | 38,693,000 | 46,408,000 | 30,870,000 | 3,432,000 | -4,256,000 | 22,675,000 | 29,057,000 | 10,261,000 | 1,507,000 | 31,262,000 | 22,806,000 | 14,371,000 | 27,723,000 | 29,743,000 | 20,191,000 | 17,232,000 | 31,742,000 | ||
operating lease liabilities | -1,385,000 | -1,347,000 | -1,334,000 | -4,566,000 | -1,684,000 | -1,457,000 | -1,540,000 | -1,394,000 | -1,366,000 | -1,386,000 | -1,383,000 | 1,329,000 | 500,000 | -1,150,000 | -849,000 | -846,000 | |||
net cash from operating activities | 190,356,000 | 198,420,000 | -47,299,000 | 122,984,000 | 98,347,000 | 136,612,000 | -35,868,000 | 114,584,000 | 80,349,000 | 94,098,000 | -4,860,000 | 75,005,000 | 60,757,000 | 79,280,000 | 13,175,000 | 50,923,000 | 24,932,000 | 31,723,000 | 34,893,000 |
capital expenditures | -4,873,000 | -11,022,000 | -6,171,000 | -5,063,000 | -7,084,000 | -2,750,000 | -2,043,000 | -4,440,000 | -2,776,000 | 0 | -4,035,000 | -8,380,000 | -9,410,000 | -8,289,000 | -7,859,000 | -9,681,000 | -5,533,000 | 0 | -6,832,000 |
free cash flows | 185,483,000 | 187,398,000 | -53,470,000 | 117,921,000 | 91,263,000 | 133,862,000 | -37,911,000 | 110,144,000 | 77,573,000 | 94,098,000 | -8,895,000 | 66,625,000 | 51,347,000 | 70,991,000 | 5,316,000 | 41,242,000 | 19,399,000 | 31,723,000 | 28,061,000 |
investing activities: | |||||||||||||||||||
purchases of marketable securities | -286,945,000 | -271,149,000 | -233,057,000 | -145,533,000 | -97,381,000 | -267,965,000 | -347,053,000 | -141,261,000 | -214,818,000 | -223,101,000 | -153,420,000 | -258,230,000 | -881,287,000 | -240,191,000 | -192,006,000 | -149,066,000 | |||
sales of marketable securities | 270,415,000 | 295,606,000 | 71,718,000 | 197,748,000 | 470,639,000 | 146,008,000 | 245,036,000 | 261,562,000 | 154,479,000 | 223,049,000 | 562,080,000 | 231,712,000 | 192,006,000 | 149,066,000 | |||||
purchases of property and equipment | -4,873,000 | -11,022,000 | -6,171,000 | -5,063,000 | -7,084,000 | -2,750,000 | -2,043,000 | -4,440,000 | -2,776,000 | -4,035,000 | -8,380,000 | -9,410,000 | -8,289,000 | -7,859,000 | -9,681,000 | -5,533,000 | -6,832,000 | ||
net cash from investing activities | -21,403,000 | -170,070,000 | 56,378,000 | -76,692,000 | 93,283,000 | -34,197,000 | 121,543,000 | 204,000 | 26,227,000 | 11,865,000 | 30,636,000 | -7,396,000 | -50,605,000 | -327,705,000 | -16,417,000 | -9,838,000 | -5,633,000 | -82,722,000 | -305,020,000 |
financing activities: | |||||||||||||||||||
repurchase of class a common stock | -1,238,000 | 0 | 0 | -24,605,000 | -101,740,000 | -47,760,000 | -75,160,000 | -65,109,000 | -84,891,000 | -11,027,000 | -38,626,000 | -6,471,000 | |||||||
payment of dividend | -15,064,000 | -12,218,000 | -12,119,000 | -11,782,000 | -11,720,000 | -12,184,000 | -9,398,000 | -9,340,000 | -8,480,000 | ||||||||||
payment of special dividend | -20,105,000 | 0 | 0 | 0 | -25,316,000 | 0 | 0 | 0 | -18,095,000 | -34,000 | |||||||||
distributions to members | -4,948,000 | -4,418,000 | -4,471,000 | -4,828,000 | -5,011,000 | -5,024,000 | -4,532,000 | -10,505,000 | -5,077,000 | ||||||||||
tax distribution to members | -15,078,000 | -17,000 | -110,000 | -1,444,000 | -24,542,000 | 0 | -879,000 | -23,538,000 | -562,000 | 0 | -13,742,000 | -187,000 | |||||||
payment of taxes on net settled stock-based awards | -13,245,000 | -1,772,000 | -5,942,000 | -2,318,000 | -2,621,000 | -2,305,000 | -2,115,000 | -2,504,000 | -2,110,000 | -891,000 | -1,395,000 | -2,408,000 | -3,030,000 | ||||||
payments under tax receivable agreements | -14,254,000 | ||||||||||||||||||
net cash from financing activities | -83,932,000 | -18,425,000 | -22,642,000 | -44,977,000 | -171,284,000 | -68,365,000 | -92,085,000 | -139,823,000 | -101,274,000 | -112,086,000 | -22,560,000 | -72,254,000 | -9,100,000 | -41,123,000 | -7,418,000 | -645,000 | 439,519,000 | ||
net increase in cash, cash equivalents, and restricted cash | 85,021,000 | 9,925,000 | -13,563,000 | 1,315,000 | 20,346,000 | 34,050,000 | -6,410,000 | -25,035,000 | 5,302,000 | -6,123,000 | 3,216,000 | -4,645,000 | 1,052,000 | -289,548,000 | -10,660,000 | 40,752,000 | 19,299,000 | -51,644,000 | 169,392,000 |
cash, cash equivalents, and restricted cash, beginning of period | 88,498,000 | 0 | 0 | 0 | 70,348,000 | 0 | 0 | 0 | 62,401,000 | 0 | 0 | 68,884,000 | 0 | 0 | 0 | 309,126,000 | 0 | ||
exchange rate effect on cash and cash equivalents, and restricted cash | 7,000 | 42,000 | 15,000 | 81,000 | -11,000 | 3,000 | 0 | 16,000 | 21,000 | 29,000 | 16,000 | 35,000 | 22,000 | 27,000 | -84,000 | -50,000 | |||
cash, cash equivalents, and restricted cash, end of period | 173,526,000 | 9,967,000 | -13,548,000 | 1,396,000 | 90,683,000 | 34,053,000 | -6,410,000 | -25,019,000 | 67,724,000 | -6,187,000 | 3,245,000 | -4,629,000 | 69,971,000 | -289,526,000 | -10,633,000 | 40,668,000 | 328,375,000 | -51,526,000 | 169,392,000 |
depreciation on property and equipment | 4,732,000 | 3,713,000 | 3,590,000 | 3,489,000 | |||||||||||||||
amortization on intangible assets | 818,000 | 816,000 | 739,000 | 895,000 | |||||||||||||||
impairment of assets | 0 | 74,000 | 3,633,000 | 1,851,000 | |||||||||||||||
impairment of strategic investment | 0 | 0 | |||||||||||||||||
deferred income tax expense | -1,878,000 | -572,000 | -227,000 | 206,000 | |||||||||||||||
gain on divestiture of a business | 0 | 0 | |||||||||||||||||
premium amortization (discount accretion) on marketable securities | |||||||||||||||||||
business combinations, net of cash acquired | |||||||||||||||||||
proceeds from sales and maturities of marketable securities | |||||||||||||||||||
proceeds from divestiture | 0 | 0 | |||||||||||||||||
purchase of strategic investment | 0 | 0 | 0 | 0 | 0 | -1,000,000 | 0 | 0 | -6,000,000 | ||||||||||
purchases of intangible assets | 0 | 0 | -103,000 | -215,000 | |||||||||||||||
deferred consideration payment | |||||||||||||||||||
other financing activities | 0 | 0 | 0 | -334,000 | -1,000 | 1,000 | -154,000 | ||||||||||||
cash flows from operating activities: | |||||||||||||||||||
cash flows from investing activities: | |||||||||||||||||||
cash flows from financing activities: | |||||||||||||||||||
adjustments to reconcile net income to net cash provided from operating activities: | |||||||||||||||||||
business combinations | |||||||||||||||||||
cash flows used in financing activities: | |||||||||||||||||||
debt issuance costs | 0 | ||||||||||||||||||
other income | |||||||||||||||||||
other expense | |||||||||||||||||||
cash, cash equivalents, and restricted cash, beginning of year | |||||||||||||||||||
purchase of intangible assets | -40,000 | -75,000 | -14,000 | -79,000 | |||||||||||||||
loss on asset disposal | |||||||||||||||||||
warrant liabilities | 0 | ||||||||||||||||||
deferred rent | -120,000 | ||||||||||||||||||
cash flows used in investing activities: | |||||||||||||||||||
issuance of loan | |||||||||||||||||||
ipo proceeds, net of underwriter fees and issuance costs | |||||||||||||||||||
repurchase of class a common stock/members’ deficit | 0 | ||||||||||||||||||
proceeds from issuance of members’ equity, net of issuance costs | |||||||||||||||||||
distribution to post-reorganization members | |||||||||||||||||||
issuance of warrants | 0 | ||||||||||||||||||
distribution to alclear members | |||||||||||||||||||
proceeds from the exercise of warrants | 0 | ||||||||||||||||||
payment of revolver loan costs | 0 | ||||||||||||||||||
distribution to members | -135,000 | ||||||||||||||||||
proceeds from issuance of members’ deficit, net of cost | |||||||||||||||||||
ipo proceeds, net of underwriter fees and payment of issuance costs | |||||||||||||||||||
impairment of long-lived assets | 0 | 313,000 | |||||||||||||||||
amortization, net on marketable securities | 72,000 | 287,000 | |||||||||||||||||
repurchase of members’ deficit | |||||||||||||||||||
payment of issuance costs | |||||||||||||||||||
accrued liabilities | 7,261,000 | 23,896,000 | |||||||||||||||||
capitalized intangible assets | -100,000 | -450,000 | |||||||||||||||||
repurchase of members’ equity | 0 | ||||||||||||||||||
proceeds from issuance of members’ equity, net of cost | 0 | ||||||||||||||||||
income tax expense | |||||||||||||||||||
net exchange differences on cash and cash equivalents, and restricted cash | |||||||||||||||||||
depreciation and amortization | 3,988,000 | ||||||||||||||||||
purchases of marketable debt securities | -625,816,000 | ||||||||||||||||||
sales of marketable debt securities | 328,078,000 | ||||||||||||||||||
prepaid expenses and other current assets | |||||||||||||||||||
payment of deferred issuance costs |