YOU Q1 2026 Earnings

Call Details

• Call Title: Clear Secure Q1 2026 Earnings Call
• Date: May 6, 2026 12:00 PM UTC
• Management Team:
  • Caryn Seidman Becker (Founder, Chair, and Chief Executive Officer)
  • Michael Barkin (President)
  • Jennifer Hsu (Chief Financial Officer)

Call Summary

Financial Performance

• Revenue grew 19.7% year-over-year to $253M in Q1 2026.
• Total bookings increased 40.8% year-over-year to $291.7M in Q1 2026.
• Q1 adjusted EBITDA was $80.6M representing a 31.9% adjusted EBITDA margin and 7.2 percentage points of margin expansion year-over-year.
• Operating income for Q1 was $62M and net cash provided by operating activities was $190.4M.
• Free cash flow was $185.5M in Q1, representing 103.2% year-over-year growth and roughly double the prior year period.
• Total CLEAR members reached 41.0M and active Clear Plus members grew to 8.2M, up 13% year-over-year.
• ClearOne bookings in the quarter were approximately five times those of Q1 last year, representing a record quarter for that enterprise business.
• GAAP net income and other GAAP line-item detail were not disclosed on the call, and non-GAAP reconciliations were referenced as available in the press release and Form 10-Q.

Guidance

• Q2 2026 revenue guidance is $268M to $271M, which implies 22.8% growth at the midpoint year-over-year.
• Q2 2026 total bookings guidance is $280M to $285M, which implies 26.7% growth at the midpoint year-over-year.
• Full-year 2026 free cash flow guidance was increased from at least $440M to at least $465M during the call.
• The company stated the $465M free cash flow target would represent roughly $120M increase year-over-year and at least 36% year-over-year growth versus the prior year.
• Executives stated that 2026 guidance includes accelerated investments in product, engineering, brand, marketing, and security.
• The company emphasized that adjusted EBITDA margin expansion for 2026 relative to 2025 is expected, but no full-year adjusted EBITDA dollar guidance was provided.
• Reconciliations between GAAP and non-GAAP measures were noted as available in the press release and SEC filings, but GAAP guidance ranges were not provided.