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

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to CLEAR's fiscal second quarter 2025 conference call. We have with us today Karen Seidman-Becker, co-founder, chair, and chief executive officer, Michael Barkin, president, and Jen Hsu, chief financial officer. As a reminder before we begin, today's discussion contains forward-looking statements about the company's future business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these statements are included in the documents the company has filed and furnished with the SEC, including today's shareholder letter. The company disclaims any obligation to update any forwarding statements that may be discussed during this call. During this call, unless otherwise stated, all comparisons, will be against the comparable period of fiscal year 2024. Additionally, the company will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in today's press release and most recently filed quarterly report on Form 10-Q. These items can be found in the investor relations section of Clear's website. With that, I'll turn the call over to Karen. Clear, secure identity platform is the trusted identity layer for travel and enterprise. 2025 continues to be a year of innovation, execution, and momentum, as the need for trust, security, and frictionless experiences in today's world is paramount. The threat environment continues to evolve, and AI is only accelerating the need for secure identity in Clear. Traditional forms of identity, such as the driver's license, have become analog, outdated, and insufficient. CLEAR's smart network, which is physical and digital, enable...