Clear Secure (YOU) Stock Forecast & Price Target

Clear Secure Inc. reported a substantial increase in its adjusted EBITDA, rising 58.1% to $79.9 million, reflecting effective cost management strategies across key operational areas such as salaries, R&D, and G&A. Cumulatively, the company has achieved a 31.5% growth in total enrollments, now reaching 38 million members, which, alongside a 16.7% increase in total revenue to $240.8 million in the fourth quarter, underscores its expanding secure identity network across both aviation and non-aviation channels. For 2026, projections indicate continued revenue growth of 16.3% to $1.05 billion, paired with a significant 28% increase in free cash flow, suggesting strong momentum and potential for further financial stability and performance improvements.

Clear Secure Inc has experienced a consistent decline in its gross dollar retention rate, which fell by 210 basis points year-over-year to 86.4%, indicating challenges in maintaining existing customer relationships. Additionally, the company recorded a 2.7% year-over-year decline in annual CLEAR+ Member usage, with cumulative enrollment growth slowing for the third consecutive quarter. Furthermore, the total cumulative platform usage growth decelerated for 13 sequential quarters, contributing to an overall weakened outlook amid potential headwinds from economic factors such as rising interest rates and declining consumer confidence.