CLEAR SECURE Reports 45.9% Revenue Increase for Q2 FY2023 Ending June 30 2023, Totalling USD 149.9 Million
August 22, 2023
☀️Earnings Overview
CLEAR SECURE ($NYSE:YOU) revealed their earnings results for the second quarter of the fiscal year 2023 (ending June 30 2023), indicating total revenue of USD 149.9 million, a 45.9% growth from the same period in the prior year. Net income for the said quarter was USD 4.0 million – a 156.0% surge from Q2 in the year 2023. The results were released on August 2 2023.
Analysis
GoodWhale has conducted an analysis of CLEAR SECURE‘s financials and the results are very favorable. According to our Risk Rating, CLEAR SECURE is a low risk investment in terms of financial and business aspects. This means that it is a reliable and stable choice for potential investors. Our analysis also took into account the potential risks associated with the company and its operations. We urge potential investors to register with us and gain access to our reports and assessments of CLEAR SECURE’s business and financial areas. This way, you can be sure that you are making a well-informed decision when investing in the company. Moreover, you can have peace of mind knowing that your funds are being invested in a company that has been thoroughly evaluated for potential risks. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Clear Secure. More…
| Total Revenues | Net Income | Net Margin |
| 526.4 | -49.3 | -9.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Clear Secure. More…
| Operations | Investing | Financing |
| 228.22 | -402.12 | -129.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Clear Secure. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.09k | 624.09 | 2.97 |
Key Ratios Snapshot
Some of the financial key ratios for Clear Secure are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.5% | – | -21.4% |
| FCF Margin | ROE | ROA |
| 36.8% | -25.0% | -6.5% |
Peers
Clear Secure Inc is in competition with KnowBe4 Inc, Cyan AG, and Gallagher Security Corp. All four companies provide security solutions for businesses, but Clear Secure Inc specializes in providing cloud-based security solutions. Clear Secure Inc has a competitive advantage because it can provide its customers with a more comprehensive and secure solution than its competitors.
– KnowBe4 Inc ($NASDAQ:KNBE)
KnowBe4, Inc is a provider of security awareness training and simulated phishing platform. The company offers a comprehensive security awareness training program that includes content, tools, and services to address the human element of cybersecurity. The company’s platform enables organizations to train and phish their employees, identify vulnerabilities, and mitigate risks. KnowBe4’s security awareness training program is used by organizations of all sizes, including small businesses, Fortune 500 companies, and government agencies.
– Cyan AG ($OTCPK:CCYNF)
Cyan AG is a holding company that engages in the communication and information technology business. The company was founded in 1878 and is headquartered in Munich, Germany.
– Gallagher Security Corp ($OTCPK:MYCLF)
Gallagher Security Corp is a publicly traded company that provides security solutions to businesses and individuals. The company has a market cap of 729.51k and a ROE of -69.64%. The company offers a variety of security products and services, including security cameras, alarm systems, and access control systems.
Summary
Investors in CLEAR SECURE are enjoying a positive outlook for the company’s performance. The company reported total revenue of USD 149.9 million, up 45.9% year-over-year, and net income of USD 4.0 million, a 156.0% increase from the same quarter in 2023. These results have been well-received by the market, with the stock price moving up on the day of the announcement. It is worth noting that CLEAR SECURE is maintaining an impressive growth trajectory and continues to be a strong investment opportunity.
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