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Screener / SEC EDGAR /CIK 0001856314 /10-K filed Feb 25, 2026, compared with Feb 26, 2025 /Numbers from the XBRL of the 10-Ks
NYSE Technology · Software

Clear Secure, Inc. YOU

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New in the 10-K 5 paragraphs with nothing like them in the 10-K filed Feb 26, 2025 New in the 10-Q 8 paragraphs not in the 10-Q filed Aug 5, 2026 10-Q against the 10-K 1 risk factor paragraphs and sentences added or reworded

New risk paragraphs, branching off last year

Each branch is a paragraph in Risk Factors with nothing like it in the 10-K filed Feb 26, 2025. A box jumps to the paragraph as filed, below.

5 new
10-K Feb 26 10-K Feb 25 •we may enter into agreements with strategic… distributions or pay dividends to our… Additionally, we accept payment for CLEAR+… When we process PHI on behalf of a covered… 1 more new paragraph

Paragraphs with nothing like them in last year's 10-K

Quoted exactly

5 paragraphs in Risk Factors of the 10-K filed Feb 25, 2026 with nothing like them in the 10-K filed Feb 26, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.

•we may enter into agreements with strategic partners that include exclusivity provisions that limit our ability to enter into agreements with additional partners

•risks associated with inherent measurement limitations and any real or perceived inaccuracies in our metrics;

Read in the 10-K

distributions or pay dividends to our stockholders, or make it less likely that our Board will declare such distributions or dividends.

Read in the 10-K

Additionally, we accept payment for CLEAR+ through credit card transactions, certain online payment service providers and mobile payment platforms. The ability to access credit card information on a real-time basis without having

Read in the 10-K

When we process PHI on behalf of a covered entity, we are required by HIPAA to maintain HIPAA-compliant business associate agreements with our partners that are HIPAA covered entities and service providers, as well as certain of

Read in the 10-K

Paragraphs in the 10-Q filed Nov 4, 2026 that were not in the one before

New in the latest 10-Q

8 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.

10-Q

Adjustments to reconcile net income to net cash provided from operating activities:

Read in the 10-Q

Premium amortization and (discount accretion), net on marketable securities (1,516) (744)

Read in the 10-Q

See below for Intangible assets, net as of September 30, 2026 and December 31, 2025:

Read in the 10-Q

The Company recorded the expense related to the Founder PSU awards within general and administrative in the condensed statements of operations, and as of December 31, 2025, there was no unrecognized expense remaining for Founder PSUs.

Read in the 10-Q

On July 4, 2025, the U.S. enacted the One Big Beautiful Bill Act (“the Act”) that includes several U.S. corporate tax provisions, including 100% bonus depreciation on qualified property and the current deductibility of domestic research and experimental expenditures. The provisions of the Act did not have a material impact on our tax expense or effective tax rate.

Read in the 10-Q
Show the other 3

The Act lowered the Company’s cash taxes paid for the three months ended September 30, 2025, permitting the Company to accelerate the deductions noted here.

Read in the 10-Q

within Prepaid expenses and other current assets on the condensed consolidated balance sheets, while the long term portion is presented within Other assets in the condensed consolidated balance sheets.

Read in the 10-Q

Reconciliation of Net Cash (Used in) Provided by Operating Activities to Free Cash Flow:

Read in the 10-Q

The 10-Q's risk factors against the 10-K

Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 25, 2026. A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed. Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed, Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal (cut words struck through, new words highlighted). Text on the page, not a score; each links to the filing at sec.gov.

All 1 Added 1Reworded 0Quiet changes 0
Added10-Q Nov 4, 2026 vs 10-K Feb 25, 2026
We have disclosed under the heading “Risk Factors” in our Annual Report on Form 10-K the risk factors which materially affect our business, financial condition or results of operations. There have been no material changes from the risk factors previously disclosed. You should carefully consider the risk factors set forth in the Annual Report on Form 10-K and the other information set forth elsewhere in this Quarterly Report on Form 10-Q. You should be aware that these risk factors and other information may not describe every risk facing our company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

Read it in the 10-Q at sec.gov

Phrases used for the first time

Two-word phrases in Risk Factors of the 10-K filed Feb 25, 2026 that are in none of the 1 earlier 10-Ks stored, back to Feb 26, 2025

clear members ×18clear member ×3clear membership ×3clear memberships ×2
Where each one is used
  • clear members: •failure to add new and retain existing Members, including Active CLEAR+ Members, or increase the utilization of our platform, and the failure to add new or retain existing partners;
  • clear member: •failure to add new and retain existing Members, including Active CLEAR+ Members, or increase the utilization of our platform, and the failure to add new or retain existing partners;
  • clear membership: If CLEAR+ Members do not perceive our aviation subscription service to be of value, including if we adjust pricing in a manner that is not favorably received by CLEAR+ Members, we may not be able to attract and retain CLEAR+ Members, and accordingly, our revenue, including revenue per paying CLEAR+ Member, and...
  • clear memberships: We are dependent on CLEAR+ memberships for a significant portion of our revenue, and a significant reduction in CLEAR+ memberships would reduce our future revenue and harm our anticipated operating results. Given our dependence on CLEAR+ for a significant portion of our revenues, a decrease in demand for goods or...

The 10-K at sec.gov

Used at least twice, small words left out. Counted, not picked: a phrase can be new because the company renamed something.

What was taken out

15 paragraphs of last year's Risk Factors with nothing like them now. The longest are quoted.

Across all companies
We believe that our corporate culture has been a critical component to our success and that our culture creates an environment that drives and perpetuates our overall business strategy. We have invested substantial time and resources in building our team and we expect to continue to hire aggressively as we expand, including with respect to any potential international expansions we may pursue. As we grow and mature as a public company and grow internationally, we may find it difficult to maintain our corporate culture. Any failure to preserve our culture could negatively affect our future...
In the 10-K filed Feb 26, 2025
We granted the founder performance-based restricted stock unit awards (the “Founder PSUs”) following the pricing of our IPO. The Founder PSUs are eligible to vest over a five-year period based on the achievement of pre-determined stock price goals ranging from 1.5 to 3.0 times $31, our initial public offering price. The Founder PSUs will become vested based on the achievement of such stock price goals (measured as a volume-weighted average stock price over 180 days) during overlapping measurement periods that begin two years following the closing of our IPO and end five years following the...
In the 10-K filed Feb 26, 2025
Promoting awareness of our platform is important to our ability to grow our business and to attract new Members and partners, and can be costly. While much of our growth is attributable to word of mouth and Member referrals, we may pursue additional paid marketing efforts. If those marketing efforts are not successful in promoting awareness of our offerings or attracting new Members and partners, or if we are not able to cost-effectively manage our marketing expenses, our results of operations could be adversely affected. Any of the foregoing risks could harm our business, financial...
In the 10-K filed Feb 26, 2025
data and the personal information we receive may also be unsuccessful due to software bugs, defects, misconfigurations or other technical malfunctions; employee, contractor, or service provider error or malfeasance, including defects, misconfigurations or vulnerabilities in our suppliers’ or service providers’ information technology systems or offerings, including products and offerings that we integrate into our products and services; breaches of physical security of our facilities or technical infrastructure; or other threats that may surface or evolve.
In the 10-K filed Feb 26, 2025

Sources

Item 1A of each 10-K and 10-Q on EDGAR, quoted exactly. Each paragraph links to the filing at sec.gov.

Also

10-K change: what was reworded or cut, section by section.

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