Clear Secure Q3 2026: Revenue Beats but a $315M Settlement Stings EPS
As seen on the 24/7 Wall St. homepage on November 4, 2026.
The EPS shortfall came from cash timing: a roughly $315 million settlement of accrued credit card partner liabilities swung quarterly free cash flow to negative $103.8 million. Management still raised full-year free cash flow guidance to at least $490 million, and the board added $175 million to the buyback.
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Clear Secure posted $292.85 million in Q3 2026 revenue, beating expectations and marking 27.8% growth year over year. The top line was powered by membership expansion, with total CLEAR members growing to 46.7 million.
The EPS picture was cloudier. GAAP diluted EPS came in at $0.52, missing expectations. The shortfall traced directly to cash timing: a roughly $315 million settlement of accrued credit card partner liabilities pushed quarterly free cash flow negative for the period.
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Despite that cash outflow, management signaled confidence in the full-year trajectory by raising free cash flow guidance to at least $490 million. The board also added $175 million to the share repurchase program and declared a quarterly cash dividend of $0.15 per Class A share payable December 24.
Looking ahead, CLEAR guided Q4 2026 revenue to $299 million to $302 million, implying about 24.8% year-over-year growth at the midpoint. The company also expects its eGate technology to cover the vast majority of its airport network by year-end, and flagged an anticipated quarterly free cash flow distribution beginning in 2027, a signal that management views the settlement as a timing issue.
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