Clear Secure, Inc.

NYSE:YOU Stock Report

Market Cap: US$7.6b

Clear Secure Management

Management criteria checks 2/4

Clear Secure's CEO is Caryn Seidman-Becker, appointed in Jan 2010, has a tenure of 16.33 years. total yearly compensation is $11.56M, comprised of 5.2% salary and 94.8% bonuses, including company stock and options. directly owns 0.15% of the company’s shares, worth $11.44M. The average tenure of the management team and the board of directors is 2.2 years and 4.9 years respectively.

Key information

Caryn Seidman-Becker

Chief executive officer

US$11.6m

Total compensation

CEO salary percentage5.19%
CEO tenure16.3yrs
CEO ownership0.2%
Management average tenure2.2yrs
Board average tenure4.9yrs

Recent management updates

Recent updates

Narrative Update • May 01

YOU: Rich Expectations Will Depend On Delivering 2026 Free Cash Flow Plan

Clear Secure’s updated analyst price target edges slightly lower to about $33.49 from $33.80, as analysts factor in Street research that highlights strong Q4 bookings, app download trends and improving margin assumptions, along with a more moderate future P/E outlook. Analyst Commentary Street research on Clear Secure has been active around the latest Q4 results, with several firms adjusting price targets and refining their views on the company.
Narrative Update • Apr 15

YOU: Q4 Execution And 2026 Cash Returns Will Shape Bullish Repricing

Analysts have lifted their price targets on Clear Secure into a higher $49 to $61 range, citing stronger Q4 results, momentum in CLEAR+ and CLEAR1 bookings, renewed American Express partnership benefits, and improving free cash flow expectations into 2026 as key supports for the updated valuation view. Analyst Commentary Bullish analysts have been revising their views on Clear Secure with a cluster of higher price targets following the Q4 report, pointing to what they see as solid execution across CLEAR+, CLEAR1 and key partnerships.
Narrative Update • Apr 01

YOU: Q4 Execution And 2026 Cash Returns Will Drive Future Upside

Narrative Update The Analyst Price Target for Clear Secure moves from $61 to $65. Analysts point to stronger Q4 bookings, positive trends in CLEAR+, solid cash flow expectations into 2026, and recent app download momentum as key supports for the higher fair value and slightly richer future P/E assumptions.
Seeking Alpha • Mar 25

Clear Secure: This Identity Verification Company Hits Another Inflection Point

Summary Clear Secure has surged 115% since my February 2025 Buy call, driven by enterprise traction and technological upgrades. YOU's Medicare contract and expanding B2B partnerships position it as a leading US digital identity provider. Management raised 2026 guidance: $440M+ free cash flow, robust revenue growth, and margin expansion from ENVE pods, eGate, and the new app. With shares now expensive and insider selling post-earnings, I rate YOU a Hold; I would consider adding more in the mid-40s. Read the full article on Seeking Alpha
Narrative Update • Mar 18

YOU: Rich Expectations Will Hinge On 2026 Free Cash Flow Delivery

Clear Secure's analyst price targets have moved sharply higher from a prior fair value estimate of $29.18 to $33.80, as analysts point to strong Q4 results, broad-based CLEAR+ and CLEAR1 momentum, an extended American Express partnership, and a 2026 free cash flow outlook that has led investors to assign more value to the business. Analyst Commentary Recent Street research on Clear Secure has leaned positive on Q4 execution, CLEAR+ and CLEAR1 traction, and the extended American Express partnership.
Narrative Update • Mar 03

YOU: Q4 Bookings Strength And 2026 Cash Returns Will Support Higher Future Returns

Analysts have raised their price target on Clear Secure to $61 from $46, citing stronger Q4 bookings, improving profit expectations, and higher projected future P/E multiples supported by cash flow outlooks and renewed partnerships. Analyst Commentary Recent research has come through with a clear tilt toward optimism on Clear Secure, with multiple bullish analysts lifting their price targets following the latest Q4 report.
Narrative Update • Feb 17

YOU: Healthcare Identity Contracts Will Support Future Upside Potential

Analysts kept their price target for Clear Secure steady at $39.38, with only small tweaks to inputs such as the discount rate, profit margin assumptions, and a higher future P/E helping to support an unchanged fair value view. What's in the News CLEAR entered a contract with the Centers for Medicare & Medicaid Services to modernize identity verification for Medicare beneficiaries and providers on Medicare.gov, with CLEAR1 planned for account creation, recovery, and access to healthcare information starting in early 2026 (Key Developments).
Narrative Update • Feb 03

YOU: Member Momentum And Government Contract Wins Will Challenge Rich Expectations

Our analyst price target for Clear Secure moves from US$25.00 to about US$29.18, reflecting Street analysts' higher targets following Q3 results that they describe as solid. Guidance is supported by member growth, product and pricing performance, and disciplined resource allocation.
Narrative Update • Jan 19

YOU: Q3 Execution And New Identity Contracts Will Support Higher Future Returns

Analysts have raised their price target for Clear Secure by $1 to $46, reflecting updated views on revenue growth, profit margins, and future P/E assumptions following recent Q3 results and guidance. Analyst Commentary Recent research shows a cluster of bullish analysts lifting their price targets on Clear Secure after Q3 results and updated Q4 guidance, with some pointing to stronger bookings, revenue, and member trends than previously modeled.
Analysis Article • Jan 07

Investor Optimism Abounds Clear Secure, Inc. (NYSE:YOU) But Growth Is Lacking

There wouldn't be many who think Clear Secure, Inc.'s ( NYSE:YOU ) price-to-earnings (or "P/E") ratio of 19.3x is worth...
Narrative Update • Jan 05

YOU: Robust Q4 Guidance And Healthcare Deals Will Support Future Upside Potential

Narrative Update Analysts have nudged their price targets on Clear Secure higher to a range of US$38 to US$41, citing solid Q3 results, stronger than guided bookings and revenue, and confident Q4 guidance supported by member growth, product and pricing performance, and disciplined resource allocation. Analyst Commentary Recent research updates on Clear Secure highlight a mix of optimism around execution and growth, along with some lingering caution on valuation and external risks.
Narrative Update • Dec 21

YOU Robust Q4 Guidance And Healthcare Deals Will Support Steady Future Momentum

Analysts nudged their fair value estimate for Clear Secure up by about $1.00 to roughly $39.38, citing stronger than expected Q3 performance, robust Q4 guidance, and sustained member driven revenue growth. Analyst Commentary Bullish analysts view the latest quarter as a confirmation that Clear Secure can sustain double digit top line growth while maintaining pricing power and disciplined cost control, supporting higher valuation multiples.
Narrative Update • Dec 07

YOU Robust Q4 Guidance And Airport Expansion Will Drive Continued Momentum

Our fair value estimate for Clear Secure has inched up to approximately $38.38 per share from about $38.11, as analysts raise price targets into the high $30s and low $40s on the back of stronger than expected Q3 results, robust Q4 guidance, and sustained member driven bookings and revenue growth. Analyst Commentary Analyst reactions to the latest results skew constructive, with price target revisions into the high 30s and low 40s reflecting growing confidence in Clear Secure's ability to sustain member driven growth while navigating macro and regulatory uncertainties.
Narrative Update • Nov 23

YOU: Recent Airport Expansions And Resource Discipline Will Support Continued Progress

Clear Secure’s fair value price target has been raised by analysts from approximately $36.22 to $38.11 per share. Recent strong quarterly results and improved guidance have increased confidence in the company’s growth outlook.
Analysis Article • Nov 09

Clear Secure (NYSE:YOU) Has Announced A Dividend Of $0.125

The board of Clear Secure, Inc. ( NYSE:YOU ) has announced that it will pay a dividend on the 24th of December, with...
Narrative Update • Nov 06

YOU: Continued Airport Initiatives Will Drive Upside Despite Travel Headwinds

Analysts have raised their price target for Clear Secure from $35.22 to $36.22, citing strong recent earnings, improved guidance, and steady progress in the company’s airport business initiatives as key factors behind the upward adjustment. Analyst Commentary Analysts have weighed Clear Secure's latest performance, guidance, and business trends, offering insights into factors that may influence the company’s future valuation and momentum.
Narrative Update • Sep 17

Biometric Expansion Will Improve Efficiency, But Leadership Changes May Introduce Risks

Clear Secure’s consensus price target has been raised to $35.22 as analysts cite stronger-than-expected Q2 results, successful new initiatives, and alleviated macroeconomic concerns, reflecting greater confidence in the company’s multi-year growth potential. Analyst Commentary Better-than-expected Q2 results driven by increased adoption, new initiatives, expanded usage of Clear’s technology platform, and strong execution.
Narrative Update • Aug 06

Biometric Expansion Will Improve Efficiency, But Leadership Changes May Introduce Risks

Clear Secure's fair value has been revised upward as stronger net profit margins more than offset a higher discount rate, driving the consensus analyst price target increase from $29.25 to $31.25. What's in the News Provided Q3 2025 revenue guidance of $223–$226 million, indicating 13.1% year-over-year growth at midpoint.
Analysis Article • Jul 04

Benign Growth For Clear Secure, Inc. (NYSE:YOU) Underpins Its Share Price

With a price-to-earnings (or "P/E") ratio of 15.3x Clear Secure, Inc. ( NYSE:YOU ) may be sending bullish signals at...
Seeking Alpha • Apr 30

Clear Secure: CLEAR1 Is The Hidden Catalyst Investors Are Overlooking

Summary I reiterate my 'Buy' rating for Clear Secure, emphasizing the potential of their B2B identity verification service, CLEAR1, as a future value driver. CLEAR1 allows Clear to expand into higher-ticket, higher-margin, and higher-retention enterprise customers, diversifying revenue streams and reducing dependence on the cyclical B2C market. Clear's valuation multiples, growth rates, and profitability metrics indicate the stock is undervalued, with potential for upside as CLEAR1 gains traction. Despite risks like growing short interest and leadership changes, Clear's strategic direction and expansion into enterprise markets position it well for long-term growth. Read the full article on Seeking Alpha
Seeking Alpha • Apr 23

Clear Secure: Strong Competitive Moat And Visible Growth Catalysts

Summary Clear Secure, Inc. has a strong competitive moat due to its high-quality, government-certified biometric identity verification platform, enhancing user experience and trust. Clear Secure benefits from a powerful network effect, with operations in 59 airports and 29 million enrollments, making its service increasingly essential for frequent travelers. Growth catalysts include long-term travel demand, NextGen platform upgrades, and expansion into TSA PreCheck, positioning YOU for sustained revenue growth. Read the full article on Seeking Alpha
Seeking Alpha • Mar 12

Analyzing Clear Secure's Latest Quarterly Report, Here's Why I Rate It A Buy

Summary Clear Secure's Q4 2024 earnings showed impressive growth, with revenues up 20.7%, free cash flow up 48%, and net income up significantly from last year. Despite strong financials, CLEAR Plus member retention and usage rates declined, indicating potential issues with customer engagement and platform utilization. Management is diversifying revenue streams through partnerships with Uber and Epic, and expanding CLEAR Plus to more airports. Given the strong balance sheet, undemanding valuation, and promising growth, I now rate YOU stock as a careful Buy, despite risks of further retention rate drops and economic downturns. Read the full article on Seeking Alpha
Seeking Alpha • Feb 26

Clear Secure: Is This Identity Verification Company At An Inflection Point?

Summary Clear Secure's stock has fallen 31% since November due to disappointing Q3 earnings and membership attrition, but new growth drivers may provide upside. Partnerships with LinkedIn, Okta, and Uber bolster the company's CLEAR Verify enterprise segment, which may soon overtake its Clear Plus segment as the dominant revenue stream. Clear's innovative new EnVe pods promise a far faster, more seamless identity verification than their prior kiosks. Despite high short interest, Clear Secure's enterprise growth and new technologies could trigger a sharp stock rebound, making it a speculative buy. Read the full article on Seeking Alpha
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New Narrative • Jan 29

Strong potential through partnerships, international expansion and wider application of biometrics

Clear Secure (YOU) has strong potential for future growth, particularly if it successfully diversifies its offerings and expands its digital identity services beyond airports.
New Narrative • Jan 28

Strong potential for Clear Secure through partnerships and wider application of biometrics

Clear Secure (YOU) has strong potential for future growth, particularly if it successfully diversifies its offerings and expands its digital identity services beyond airports.
Seeking Alpha • Jan 26

Clear Secure: A Bullish Case Amid Market Doubt

Summary Despite its recent selloff, Clear Secure's revenue growth and prudent financial management support my continued 'Buy' rating. Clear Verified's potential to drive higher quality revenue and long-term growth makes it a key future value driver. High short interest presents risks but also potential upside, creating an attractive entry point for long-term investors. Read the full article on Seeking Alpha
New Narrative • Jan 13

YOU Market Outlook

TSA PreCheck (Transportation Security Administration):A government-operated trusted traveler program that competes directly with Clear Secure in the airport security space.TSA PreCheck offers a lower-
Seeking Alpha • Dec 31

Clear Secure: Clearly Mixed Sentiment, Though Remaining Bullish

Summary Clear Secure, Inc. offers biometric identity verification services, rapidly growing in the airline industry and beyond. Despite 20%+ revenue growth and ~25% adjusted EBITDA margin, recent trends show decelerating growth and lower retention, signaling potential future revenue challenges. The stock is relatively cheap at 11x forward adjusted EBITDA, but near-term fundamentals need improvement for bullish sentiment to strengthen. Long-term potential remains, but patient investors may find better entry points on pullbacks, particularly if the stock dips to the low-$20s. Read the full article on Seeking Alpha
Seeking Alpha • Nov 25

Clear Secure: Long-Term Growth Limited By Potentially Unstable Business Model

Summary Clear Secure's sharp decline in post-Q3 earnings is due to slowing customer growth and declining net member retention despite solid sales growth and profitability. The company's focus on profitability over customer acquisition and retention may hinder long-term growth, especially with regulatory risks. Clear Secure must diversify beyond airport security to unlock its full potential, but its current strategy seemingly prioritizes short-term shareholder value. While YOU has substantial sales growth and a low forward P/E ratio, given its rising profitability, its business model and management focus raise long-term growth concerns. In my view, the company must prove that it is not a "fast pass" that benefits from price discrimination but actually fulfills an identification need, particularly outside of airports. Read the full article on Seeking Alpha
Seeking Alpha • Nov 09

Clear Secure: Did The Market Overreact To Q3 Earnings?

Summary Clear Secure continues to exhibit strong revenue growth, with a 23.7% increase in Q3 and a 28.8% year-over-year rise, driven by new members and price increases. Despite a slight EPS miss, Clear's ability to raise prices with minimal churn and their 25% dividend increase demonstrate prudent financial management and shareholder commitment. Clear's B2B partnerships, such as with Uber, enhance revenue quality and create a competitive moat, crucial for sustained growth and reduced customer churn. The market's negative reaction to Q3 earnings is seen as an overreaction; I maintain a 'Buy' rating for long-term investors due to Clear's robust growth prospects. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Caryn Seidman-Becker's remuneration changed compared to Clear Secure's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

US$123m

Dec 31 2025US$12mUS$600k

US$109m

Sep 30 2025n/an/a

US$182m

Jun 30 2025n/an/a

US$177m

Mar 31 2025n/an/a

US$176m

Dec 31 2024US$6mUS$550k

US$170m

Sep 30 2024n/an/a

US$80m

Jun 30 2024n/an/a

US$72m

Mar 31 2024n/an/a

US$52m

Dec 31 2023US$1mUS$550k

US$28m

Sep 30 2023n/an/a

US$3m

Jun 30 2023n/an/a

-US$49m

Mar 31 2023n/an/a

-US$60m

Dec 31 2022US$671kUS$425k

-US$66m

Sep 30 2022n/an/a

-US$72m

Jun 30 2022n/an/a

-US$52m

Mar 31 2022n/an/a

-US$47m

Dec 31 2021US$40mUS$425k

-US$36m

Sep 30 2021n/an/a

-US$10m

Jun 30 2021n/an/a

US$18m

Mar 31 2021n/an/a

US$42m

Dec 31 2020US$1mUS$142k

-US$9m

Compensation vs Market: Caryn's total compensation ($USD11.56M) is above average for companies of similar size in the US market ($USD8.40M).

Compensation vs Earnings: Caryn's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Caryn Seidman-Becker (52 yo)

16.3yrs
Tenure
US$11,563,694
Compensation

Ms. Caryn Gail Seidman-Becker is Co-Founder of Alclear, LLC and serves as its Chief Executive Officer and Chairman. She serves as an Independent Director at The Home Depot, Inc since March 01, 2022. She ha...

Leadership Team

NamePositionTenureCompensationOwnership
Caryn Seidman-Becker
Chairman & CEO16.3yrsUS$11.56m0.15%
$ 11.4m
Michael Barkin
President & Director1.2yrsUS$13.52m0.034%
$ 2.6m
Jennifer Hsu
Chief Financial Officer1.2yrsUS$3.25m0.0097%
$ 733.5k
Kyle McLaughlin
Executive Vice President of Aviation2.8yrsUS$2.69m0.037%
$ 2.8m
Dennis Liu
Chief Accounting Officer4.7yrsno data0.011%
$ 826.2k
Jonathan Schlegel
Chief Security Officer1.7yrsUS$475.08k0.0044%
$ 332.6k
Emma Bauman
Senior VP & Secretaryno datano datano data
2.2yrs
Average Tenure
43.5yo
Average Age

Experienced Management: YOU's management team is considered experienced (2.2 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Caryn Seidman-Becker
Chairman & CEO4.9yrsUS$11.56m0.15%
$ 11.4m
Michael Barkin
President & Director4.9yrsUS$13.52m0.034%
$ 2.6m
Jeffery Boyd
Lead Independent Director4.9yrsUS$284.50k0.037%
$ 2.8m
Peter Scher
Independent Director1.8yrsUS$210.00k0.0019%
$ 141.2k
Adam Wiener
Independent Director4.9yrsUS$222.00k0.13%
$ 10.0m
Shawn Henry
Independent Director2.9yrsUS$210.00k0.019%
$ 1.4m
Marne Levine
Independent Directorless than a yearUS$376.25kno data
Tomago Collins
Independent Director4.9yrsUS$210.00k0.036%
$ 2.7m
Kathryn Hollister
Independent Director4.9yrsUS$247.50k0.038%
$ 2.9m
4.9yrs
Average Tenure
54yo
Average Age

Experienced Board: YOU's board of directors are considered experienced (4.9 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 15:01
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Clear Secure, Inc. is covered by 10 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Wyatt SwansonD.A. Davidson & Co.
Eric SheridanGoldman Sachs
Eric SheridanGoldman Sachs