Cybersecurity or data breach
A breach could impair trust, trigger remediation costs and harm partner relationships.
- Scope
- PII, biometric and government ID data
- Materiality
- high
Clear Secure, Inc.
Clear Secure, Inc. operates a secure identity platform that connects a person’s identity to digital and physical experiences. Its consumer business centers on CLEAR+ for faster airport access and related travel services, while its B2B business, CLEAR1, provides identity verification tools for partners across healthcare, workforce, government and other use cases.
24,5 %
12,1 %
+16,9 %
1.01
1.01
| % | |
|---|---|
| CLEAR+ consumer travel subscription | 80% Membership service that gives travelers access to dedicated airport security lanes and related benefits. |
| TSA PreCheck enrollment services | 10% Online and in-person enrollment and renewal services for TSA PreCheck subscriptions. |
| CLEAR1 B2B identity verification | 5% Partner-facing identity verification software and transaction-based platform services. |
| Premium travel services and perks | 5% CLEAR Concierge, CLEAR Perks and other ancillary travel offerings that deepen member engagement. |
CLEAR sells primarily to individual travelers who value faster, more predictable airport experiences, especially...
- CLEAR+ membersprimary
Consumers subscribe for faster airport screening, travel convenience and bundled benefits.
- TSA PreCheck applicants and renewalssecondary
Travelers use CLEAR-managed enrollment and renewal services for TSA PreCheck access.
- CLEAR1 enterprise partnerssecondary
Businesses integrate CLEAR identity tools for check-in, onboarding, KYC and access control.
- Healthcare, workforce and government organizationssecondary
These customers buy secure identity workflows where trust, compliance and friction reduction matter.
- Distribution partnerssecondary
Airlines, credit card issuers and marketplaces help acquire members and expand reach.
CLEAR is primarily a U.S. business, with airport coverage across the United States and nationwide TSA PreCheck...
- •U.S. airport network is the core operating footprint
- •Airport coverage reached about 79% of TSA checkpoint volume in 2025
- •CLEAR lanes operate at airports nationwide
- •TSA PreCheck enrollment is offered across multiple U.S. locations
- •International traveler focus expands the addressable market beyond the U.S.
CLEAR is focused on growing CLEAR+ membership, increasing revenue per member and expanding airport lane coverage...
01
Grow CLEAR+ members and monetizationshort-term
The consumer subscription base is the main revenue engine and supports network value.
02
Scale TSA PreCheck enrollmentshort-term
Enrollment services add transaction revenue and create a funnel into CLEAR+ membership.
03
Expand partner distribution and CLEAR1 use casesmedium-term
Partnerships broaden reach and make the identity platform more embedded in customer workflows.
CLEAR depends on retaining members, adding partners and maintaining trust in its brand and biometric identity platform...
Failure to retain members and grow utilization
CLEAR+ revenue depends on recurring subscriptions and active use of the network.
- Scope
- Consumer subscription base
- Materiality
- high
Failure to add or retain partners
CLEAR1 and distribution partnerships are important for growth and member acquisition.
- Scope
- Airlines, credit cards, enterprise partners
- Materiality
- high
Biometric, privacy and AI compliance
The company processes sensitive identity, biometric and payment data and faces evolving laws.
- Scope
- Data privacy and identity regulation
- Materiality
- high
Travel industry disruption or economic slowdown
Airport traffic and willingness to pay for travel convenience are tied to travel demand.
- Scope
- Airport and airline ecosystem
- Materiality
- high
Subscription revenue netting
Reported revenue can differ materially from gross billings
TSA PreCheck transaction accounting
Quarterly revenue can fluctuate with enrollment volumes and launch timing
CLEAR1 multi-element contracts
Contract mix affects revenue timing and margin profile
Estimates and contingencies
Could affect expense recognition and balance-sheet accruals
: 28.4.2026