| Market Capitalization (Millions $) |
4,452 |
| Shares
Outstanding (Millions) |
101 |
| Employees |
3,301 |
| Revenues (TTM) (Millions $) |
942 |
| Net Income (TTM) (Millions $) |
186 |
| Cash Flow (TTM) (Millions $) |
83 |
| Capital Exp. (TTM) (Millions $) |
27 |
Business Description
CLEAR is the brand name for a member-centric secure identity platform. CLEAR understands that you are always you'your biometric identity is critical to enabling frictionless everyday experiences, connecting you to everything that makes you, YOU, and transforming the way you live, work, and travel. CLEAR members sign up to create an unbreakable link between their identity and biometrics (e.g., eyes, face and fingerprints). CLEARs current offerings include: CLEAR Plus, a consumer aviation subscription service that provides access to predictable and fast experiences through dedicated entry lanes at airport security checkpoints across the country; the flagship CLEAR App, which includes Home to Gate and Health Pass; and Reserve powered by CLEAR, our virtual queuing technology that allows customers to manage lines.
CLEAR also has software development kits ('SDKs') and application programming interface ('API') capabilities to enable our partners to seamlessly integrate directly into our platform to enable better, faster and more frictionless experiences for our partners' customers. Use cases enabled by SDKs and APIs may include identity validation, identity verification, attribute validation such as age validation, vaccine status and payment, among others.
Our platform is multi-faceted and a powerful network of networks. We started in airports and witnessed accelerating member growth in both new markets and existing markets as our network expanded. Our largest CLEAR Plus member acquisition channel continues to be our in-airport channel. As we launched new use cases in existing markets, we saw accelerated growth and improved retention. The ability to use CLEAR in more locations in more ways increases our utility to our members. The larger our member base becomes, the more valuable our platform becomes to our current and prospective partners who utilize our platform to better realize their business objectives. As a result, our growth strategy is focused on simultaneously growing our CLEAR members while continuing to add valuable partners to our network and expanding the functionality and availability of our platform.
Our member base includes paying members and platform members. Paying members subscribe to our CLEAR Plus consumer aviation subscription service, which enables access to predictable and fast experiences through dedicated entry lanes in airport security checkpoints across the nation as well as access to our broader network. Our business model is powered by network effects and characterized by efficient member acquisition and high retention rates. Our passionate member base further drives viral, word of mouth marketing and high annual retention rates.
Platform members include members who enrolled through our mobile app and formerly paying CLEAR Plus members. Platform members can use CLEAR anywhere in our network outside of our CLEAR Plus service. Typically new platform members are driven to enroll by one of our partners who integrate with CLEAR to enable frictionless experiences for their customers.
Our partners typically pay us based on the number of members or transaction volume. While contract structure may vary by use case, these deals are typically multi-year, recurring contracts that drive revenue primarily through transaction fees charged either per member, per use or per user over a predefined time period. In addition, they may also include one-time implementation fees, licensing fees, hardware-leasing fees or incremental transaction fees. Revenues from our partners, and the percentage of our total revenue from these partners, have historically been immaterial. Although platform members may not contribute directly to our revenues, they are valuable to our platform as they indirectly contribute to revenues and drive new partners to CLEAR.
Platform members are also driven to enroll directly to access our expanding portfolio of use cases. Today these include Health Pass (which includes validation of COVID testing results and digitization of vaccine status), and Home to Gate (end-to-end frictionless travel journeys). Reserve powered by CLEAR (virtual queuing) serves as an additional avenue to drive Platform member enrollment.
We believe there is a significant opportunity to expand our reach. We expect to expand CLEAR Plus through airport network expansion, increased market penetration in existing markets and new products in the aviation space. Trends in our favor include the reacceleration of the travel industry and consumer demand for touchless technology.
Additionally, we have a robust pipeline of new partners who increasingly recognize the need to deliver a fast, easy and secure experience to their customers'a true frictionless journey. We believe our platform can power a wide range of secure use cases such as customer check-in, digital identity, account opening/know your customer, payments, virtual queuing, licensing and professional credential verification, and physical entry and access. These use cases can be applied across verticals such as aviation and travel, hospitality, live sports and entertainment, healthcare, financial services and e-commerce, among others.
Our platform is versatile, can be used across different verticals and can be customized for specific applications or use cases. Our architecture is designed to be scalable without compromising member experience or information security. We have built SDK and API capabilities to enable our partners to quickly and seamlessly integrate directly with our platform. This structure allows us to facilitate safer, faster and more frictionless experiences for our partners' customers, while enabling our partners to continue to control and manage the direct relationship with their customer under their own brand.
Company Address: 85 10th Avenue New York 10011 NY
Company Phone Number: 723-1404 Stock Exchange / Ticker: NYSE YOU
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9.58% 