The company has successfully eliminated all long-term debt as of 2026Q1, though it maintains a tight liquidity position with a current ratio of 1.01.
| Total Current Assets | 864.86M | 764.61M | 662.22M | 770.03M | 741.6M | 653.08M | 171.64M | 261.54M |
| Cash & Short-Term Investments | 800.08M | 700.17M | 609.5M | 723.1M | 704.75M | 615.34M | 154.04M | 247.27M |
| Cash Only | 170.68M | 85.73M | 66.89M | 57.9M | 38.94M | 280.11M | 116.23M | 213.88M |
| Short-Term Investments | 629.4M | 614.44M | 542.61M | 665.2M | 665.81M | 335.23M | 37.81M | 33.38M |
| Accounts Receivable | 1.06M | 1.93M | 511K | 526K | 1.17M | 5.33M | 912K | 1.11M |
| Days Sales Outstanding | 0.55 | 0.78 | 0.24 | 0.31 | 0.98 | 7.66 | 1.44 | 2.11 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 63.72M | 62.52M | 13.11M | 8.76M | 5.12M | 12.91M | 2.9M | 2.96M |
| Total Non-Current Assets | 557.33M | 538.78M | 532.71M | 274.98M | 295.92M | 159.67M | 60.63M | 57.33M |
| Property, Plant & Equipment | 156.66M | 159.38M | 165.75M | 178.49M | 181.8M | 44.52M | 35.24M | 26.93M |
| Fixed Asset Turnover | 5.99x | 5.65x | 4.65x | 3.44x | 2.41x | 5.70x | 6.55x | 7.14x |
| Goodwill | 62.68M | 62.68M | 62.76M | 62.76M | 58.81M | 59.79M | 0 | 0 |
| Intangible Assets | 2.64M | 2.75M | 15.3M | 20.82M | 22.29M | 22.93M | 1.56M | 1.16M |
| Long-Term Investments | 2.79M | 0 | 7M | 6.46M | 459K | 459K | 459K | 459K |
| Other Non-Current Assets | 335.34M | 313.96M | 7.22M | 6.45M | 32.55M | 31.97M | 23.37M | 28.78M |
| Total Assets | 1.42B | 1.3B | 1.19B | 1.05B | 1.04B | 812.75M | 232.27M | 318.87M |
| Asset Turnover | 0.75x | 0.69x | 0.64x | 0.59x | 0.42x | 0.31x | 0.99x | 0.60x |
| Asset Growth % | 88.29% | 9.08% | 14.35% | 0.72% | 27.66% | 249.92% | -27.16% | - |
| Total Current Liabilities | 859.97M | 759.9M | 643.05M | 552.05M | 397.47M | 264.59M | 146.1M | 163.62M |
| Accounts Payable | 6.47M | 7.16M | 18.02M | 11.78M | 7.95M | 8.81M | 8.52M | 7.13M |
| Days Payables Outstanding | 31.07 | 20.43 | 23.39 | 18.58 | 18.02 | 30.64 | 42.18 | 28.21 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.98B | 516.2M | 439.75M | 376.25M | 283.45M | 188.56M | 101.54M | 121.34M |
| Other Current Liabilities | 298.61M | 236.54M | 18.5M | 139.6M | 17.36M | 18.13M | 27.37M | 24.53M |
| Current Ratio | 1.01x | 1.01x | 1.03x | 1.39x | 1.87x | 2.47x | 1.17x | 1.60x |
| Quick Ratio | 1.01x | 1.01x | 1.03x | 1.39x | 1.87x | 2.47x | 1.17x | 1.60x |
| Cash Conversion Cycle | -30.52 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 348.58M | 339.11M | 313.94M | 123.74M | 129.12M | 8.69M | 3.81M | 3.35M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 109.53M | 0 | 115.1M | 121.66M | 125.15M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 357K | 0 | 948K | 1.71M | 2.44M | 3.79M | 0 | 0 |
| Other Non-Current Liabilities | 348.58M | 339.11M | 197.89M | 370K | 1.54M | 4.9M | 3.81M | 3.35M |
| Total Liabilities | 1.21B | 1.1B | 956.99M | 675.78M | 526.6M | 273.28M | 149.91M | 166.97M |
| Total Debt | 0 | 0 | 121.25M | 127.38M | 130.11M | 0 | 0 | 0 |
| Net Debt | -170.68M | -85.73M | 54.36M | 69.48M | 91.17M | -280.11M | -116.23M | -213.88M |
| Debt / Equity | 0.00x | - | 0.51x | 0.34x | 0.25x | - | - | - |
| Debt / EBITDA | 0.00x | - | 0.81x | 3.05x | - | - | - | - |
| Net Debt / EBITDA | -0.69x | -0.39x | 0.36x | 1.66x | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -329.32x | - | - |
| Total Equity | 213.63M | 204.38M | 237.94M | 369.22M | 510.92M | 539.47M | 82.36M | 151.9M |
| Equity Growth % | 2.66% | -14.1% | -35.56% | -27.73% | -5.29% | 555.05% | -45.78% | - |
| Book Value per Share | 2.11 | 2.10 | 1.65 | 4.03 | 6.22 | 6.97 | 1.26 | 2.07 |
| Total Shareholders' Equity | 185.35M | 177.73M | 198.35M | 233.33M | 291.06M | 277.61M | 82.36M | 151.9M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 1K | 569.25M | 435.23M |
| Retained Earnings | 123.42M | 119.79M | 83.78M | -73.71M | -101.8M | -36.13M | -494.77M | -291.35M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -315K | 840K | 343K | 2.05M | -1.53M | -103K | 27K | 3K |
| Minority Interest | 28.29M | 26.65M | 39.59M | 135.9M | 219.86M | 261.86M | 0 | 0 |
Aviation market saturation risk
According to the reported quarterly data, the company successfully eliminated all long-term debt by 2026Q1, transitioning from a leveraged position in 2025Q1 to a debt-free balance sheet, which suggests a significant improvement in financial flexibility and a reduction in interest-related risk for the firm.
The elimination of debt coincides with a steady increase in retained earnings, which turned positive in 2025Q3 and reached $123.4 million by 2026Q1. This trajectory indicates that the business is increasingly self-funding its operations, reducing reliance on external capital markets to support its physical infrastructure expansion.
As reported in financial statements, the current ratio has hovered near 1.01 as of 2026Q1, indicating that the company maintains a very narrow liquidity buffer relative to its short-term obligations, which warrants close monitoring given the capital-intensive nature of its physical airport lane operations.
While the cash position improved to $170.7 million in 2026Q1, the high level of deferred revenue—standing at $554.9 million—represents a significant future service obligation. Investors should consider whether this liquidity profile provides sufficient cushion if subscriber growth slows or if operational costs unexpectedly spike.
Based on the provided balance sheet figures, net property, plant, and equipment (PPE) remains a stable component of the asset base at $156.7 million, reflecting the company's commitment to maintaining its proprietary biometric hardware footprint across major domestic transit hubs as of 2026Q1.
The concentration of assets in physical hardware suggests that the company's competitive advantage is tied to tangible infrastructure rather than purely intangible software. However, the relatively static level of PPE despite revenue growth may indicate that the company is reaching a point of operational efficiency in its existing footprint.
As indicated by the latest quarterly filings, the company carries $554.9 million in deferred revenue, which functions as a significant liability that must be serviced through future operational delivery, potentially masking the true cash-generating capacity of the business if subscriber retention rates were to decline.
This large unearned revenue balance creates a dependency on continued service delivery to avoid potential refund obligations or revenue reversals. Analysts should view this not just as a growth indicator, but as a structural commitment that requires consistent, high-quality operational performance to satisfy.
Quick answers to the most common questions about buying YOU stock.
As of 2025, Clear Secure, Inc. (YOU) had total assets of $1.30B including $764.6M in current assets.
Clear Secure, Inc. (YOU) carries total debt of $0.0M, offset by $700.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Clear Secure, Inc. (YOU) has total shareholders' equity (book value) of $177.7M ($2.10 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Clear Secure, Inc. (YOU) reported a current ratio of 1.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.