Clear Secure, Inc. (YOU) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.877 Good morning, and welcome to Clear's Fiscal Third Quarter 2025 00:00:03.877 -- 00:00:08.924 Conference Call. We have with us today Karen Seidman-Becker, Co-Founder, Chair, 00:00:08.924 -- 00:00:14.091 and Chief Executive Officer, Michael Barkin, President, and Jen Su, Chief Financial 00:00:14.091 -- 00:00:19.119 Officer. As a reminder before we begin, today's discussion contains forward-looking statements 00:00:19.119 -- 00:00:22.964 about the company's future business and financial performance. 00:00:22.964 -- 00:00:28.735 These are based on management's current expectations and are subject to risks and uncertainties. 00:00:28.735 -- 00:00:33.299 Factors that could cause actual results to differ materially from these statements are 00:00:33.299 -- 00:00:37.964 included in the documents the company has filed and furnished with the SEC, including 00:00:37.964 -- 00:00:43.329 today's press release. The company disclaims any obligation to update any forward-looking 00:00:43.329 -- 00:00:46.593 statements that may be discussed during this call. 00:00:46.593 -- 00:00:50.797 During this call, unless otherwise stated, all comparisons will be against the comparable 00:00:50.797 -- 00:00:53.319 period of fiscal year 2024. 00:00:53.319 -- 00:00:57.558 Additionally, the company will discuss both GAAP and non-GAAP financial measures. 00:00:57.558 -- 00:01:02.503 Reconciliation of gap to non-gap financial measures is provided in today's press release 00:01:02.503 -- 00:01:06.627 and the most recently filed quarterly report on Form 10Q. 00:01:06.627 -- 00:01:11.512 These items can be found on the investor relations section of CLEAR's website. 00:01:11.512 -- 00:01:15.136 With that, I'll turn the call over to Karen. 00:01:15.136 -- 00:01:21.243 I...