Clear Secure, Inc. (YOU) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.559 Good morning. Welcome to CLEAR's fiscal second quarter 2025 conference call. 00:00:05.559 -- 00:00:11.167 We have with us today Karen Seidman-Becker, co-founder, chair, and chief executive 00:00:11.167 -- 00:00:16.876 officer, Michael Barkin, president, and Jen Hsu, chief financial officer. 00:00:16.876 -- 00:00:21.523 As a reminder before we begin, today's discussion contains forward-looking statements 00:00:21.523 -- 00:00:25.689 about the company's future business and financial performance. 00:00:25.689 -- 00:00:31.594 These are based on management's current expectations and are subject to risks and uncertainties. 00:00:31.594 -- 00:00:36.561 Factors that could cause actual results to differ materially from these statements are 00:00:36.561 -- 00:00:41.849 included in the documents the company has filed and furnished with the SEC, 00:00:41.849 -- 00:00:46.976 including today's shareholder letter. The company disclaims any obligation to update 00:00:46.976 -- 00:00:51.583 any forwarding statements that may be discussed during this call. 00:00:51.583 -- 00:00:57.008 During this call, unless otherwise stated, all comparisons, will be against the comparable 00:00:57.008 -- 00:01:02.134 period of fiscal year 2024. Additionally, the company will discuss 00:01:02.134 -- 00:01:05.158 both GAAP and non-GAAP financial measures. 00:01:05.158 -- 00:01:10.184 A reconciliation of GAAP to non-GAAP financial measures is provided in 00:01:10.184 -- 00:01:15.310 today's press release and most recently filed quarterly report on Form 00:01:15.310 -- 00:01:20.377 10-Q. These items can be found in the investor relations section of 00:01:20.377 -- 00:01:25.503 Clear's website. With that, I'll turn the call over to Karen. 00:01:25.503 -- 00:01:30.950 C...