Key Highlights

  • Clear Secure (NYSE:YOU) traded at USD 61.35 intraday on November 4, 2026, up 28.44%, after the company released third quarter results before the market opened.
  • Third quarter Revenue was USD 292.9 million, up 27.8%, with bookings of USD 323.5 million and adjusted EBITDA of USD 103.9 million, a 35.5% margin.
  • Management raised its full-year free Cash Flow outlook to at least USD 490 million and increased the share repurchase authorization by USD 175.0 million.
  • Operating cash flow was negative USD 98.6 million in the quarter because about USD 315 million went to settle accrued Partnership liabilities.

What Moved Clear Secure During Trading (up USD 13.58, 28.44%)

Clear Secure (NYSE:YOU) was quoted at USD 61.35 intraday on November 4, 2026, up 28.44% on published market data, which implies a prior close of about USD 47.77 (calculated). The move followed the company release of third quarter results, with a conference call held at 8:00 a.m. ET. Revenue reached USD 292.9 million, up 27.8% from USD 229.2 million, and total bookings rose 24.4% to USD 323.5 million. Net Income was USD 75.3 million, of which USD 53.2 million was attributable to the company, and Diluted Earnings per Share were USD 0.52 against USD 0.29 a year earlier. Intraday Volume was about 1.34 million shares at a Market Value near USD 8.3 billion.

Members, Guidance and Capital Returns

The release put total CLEAR members at 46.7 million, up 30.7%, and active CLEAR+ members at 8.5 million, up 14.5%. CLEAR+ now operates at 62 airports, rising to 63 with a Tampa launch in early November, and eGates are live at 53 airports. For the fourth quarter the company guided revenue of USD 299 million to USD 302 million and bookings of USD 335 million to USD 340 million. Full-year free cash flow is now expected at no less than USD 490 million, up from USD 480 million. The repurchase authorization was raised by USD 175.0 million to leave about USD 254.4 million available, and a quarterly Dividend of USD 0.15 per share is payable on December 24, 2026 to holders of record on December 10, 2026.

Cash Use and Risks After a Large Gap

Buybacks reduce the share count but also reduce cash. Cash and equivalents fell to USD 35.4 million from USD 85.7 million at the end of 2025, while stockholders' Equity declined to USD 130.5 million from USD 204.4 million, as the company repurchased USD 170.9 million of stock in the quarter and settled partnership liabilities. Free cash flow for the quarter was negative USD 103.8 million, and the company's future results depend on airport partners, TSA programs and consumer travel. A gain of this size in one session can partly reverse, and the published price to earnings ratio of about 41.87 leaves little room for a slowdown in member growth.

Where Things Stand

Clear Secure (NYSE:YOU) is up 28.44% intraday because the third quarter release combined 27.8% revenue growth, an adjusted EBITDA Margin of 35.5%, higher free cash flow guidance and a larger buyback. Investors are rewarding both growth and capital returns. The open questions are how long the member base keeps compounding, how much cash the repurchases consume, and whether the stock holds the gap once early buyers take profits. The next catalysts are the fourth quarter report and any further airport launches.