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NEW YORK - CLEAR (NYSE:YOU), the identity verification company whose stock has surged over 52% in the past year according to InvestingPro data, has opened a new TSA PreCheck enrollment and renewal location at Aventura Mall in Aventura, Florida, expanding its services beyond airport environments, according to a company press release issued Thursday.
The new enrollment center, located on the mall’s lower level, operates Monday through Saturday from 11 a.m. to 7 p.m. ET and Sunday from noon to 7 p.m. ET. This addition complements CLEAR’s existing 62 airport-based enrollment locations across the United States.
"TSA PreCheck through CLEAR provides a fast and efficient travel experience," said Kyle McLaughlin, Executive Vice President of Travel and Aviation at CLEAR in the statement.
The company, which boasts a robust 21.59% revenue growth and healthy 62.74% gross margin according to recent financial data, indicated it plans to continue expanding its TSA PreCheck enrollment footprint throughout 2025 with additional locations and extended operating hours. InvestingPro analysis suggests CLEAR maintains strong financial health, with multiple positive indicators available to subscribers.
TSA PreCheck members can keep shoes, belts and light jackets on during airport security screening, and are not required to remove laptops or compliant liquids from carry-on bags. According to the release, approximately 99% of TSA PreCheck members wait less than 10 minutes at airport checkpoints nationwide.
CLEAR serves as an authorized TSA PreCheck enrollment provider. The TSA PreCheck program, launched in December 2013 as a Department of Homeland Security Trusted Traveler program, has grown to more than 20 million active members and is available at over 200 airports with nearly 90 participating airlines.
New applicants can pre-enroll or find enrollment locations on CLEAR’s authorized TSA PreCheck website, while most existing members can renew directly through the website regardless of their original enrollment provider. With a market capitalization of $4.1 billion and strong profitability metrics, CLEAR continues to demonstrate solid business fundamentals. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers this and over 1,400 other US stocks.
In other recent news, Clear Secure has introduced a new premium airport concierge service called CLEAR Concierge for its CLEAR+ members. This service offers two tiers: Concierge Express, priced at $99 per use, and Concierge Gate Service at $179 per use, enhancing travel convenience with features like curbside greetings and assistance with check-in and baggage handling. Additionally, Clear Secure has partnered with Greenhouse to integrate its identity verification technology into Greenhouse’s hiring platform, addressing concerns about fraudulent job applications. Meanwhile, Telsey Advisory Group has revised its outlook on Clear Secure, lowering the 12-month price target from $42 to $32 but maintaining an Outperform rating. Telsey attributes this adjustment to changes in the macroeconomic environment affecting consumer spending and travel habits. In contrast, Spruce Point’s short report on Clear Secure raised concerns about the company’s financial disclosures and gross margins, suggesting the company may be overvalued. The report highlighted discrepancies in Clear Secure’s reported gross margins and questioned recent changes in its accounting policies. Despite these concerns, Clear Secure is anticipated to continue growing, with expansion into sectors like healthcare and financial services potentially boosting its brand recognition and user base.
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