Customer Experience

Clear reports Q2 2021 revenue, earnings declines

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August 17, 2021

Clear, a technology company that provides biometric identity screening kiosks at airports and other venues, reported declines in revenue and earnings the quarter ending June 30, 2021 compared to Q2, 2020.

Company revenue fell 8% from $59.9 million in to $55.2 million in the comparative quarters.

The decrease was primarily due to a 5.9% decrease in the number of average monthly Clear Plus members in the quarter compared to the prior year's quarter. The decrease was also driven by a 2.3% decline in average revenue per Clear Plus member.

The company's net income declined from a $22.3 million in Q2 2020 to a $38.1 million loss in Q2 2021.

Net loss per common share of Class A and B common stock on both a basic and diluted basis was 3 cents for the quarter.

The company derives substantially all of its revenue from subscriptions to its consumer aviation service, Clear Plus.

For the three months ended June 30, 2021 and 2020, approximately 14% and 13%, respectively, of membership revenue was derived from fees associated with members in the geographic region of two airports.