Clear Secure, Inc. (YOU) Q3 2025 10-Q Quarterly Report
Filed: Nov 6, 2025Period ending Sep 30, 2025
Information Technology
Services-Prepackaged SoftwareSEC EDGAR Clear Secure, Inc. (YOU) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Clear Secure, Inc. Q3 2025 10-Q Analysis
Risk Factors
- • Credit agreement amended June 2023 to transition benchmark interest from LIBOR to SOFR and extend maturity to June 28, 2026
- • Borrowing capacity $68.3M with no outstanding debt as of September 30, 2025, reflecting improved liquidity position
- • Operating lease commitments total $200.2M, including $15.0M due within 12 months, posing ongoing fixed cost obligations
- • Competitive risk from timing and settlement of partnership liabilities affecting working capital by $28.0M year-over-year
- • Cash flow from investing activities declined $75.0M due to $70.0M decrease in marketable securities sales and $9.0M higher capex
Clear Secure, Inc. Q3 2025 Quarterly FinancialsXBRL
Revenue
$229M
▲ +15.5% YoY▲ +4.4% QoQ
Net Income
$28M
▲ +20.5% YoY▲ +14.4% QoQ
Operating Margin
23.0%
▲ +527bp YoY▲ +356bp QoQ
Net Margin
12.3%
▲ +51bp YoY▲ +107bp QoQ
ROE
19.0%
Total Assets
$1.1B
Operating Cash Flow
-$47M
▼ -31.9% YoY▼ -138.5% QoQ
Source: XBRL data from Clear Secure, Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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