Clear Secure, Inc.YOU

Clear Secure, Inc. Leases Disclosure

10-KFiled Feb 25, 20262 min read
Leases
Below is a reconciliation of the amounts reported on the consolidated balance sheets with respect to the Company’s operating leases:
December 31,
2025
2026$14,053 
202713,947 
202814,703 
202914,971 
203014,102 
Thereafter102,505 
Total future operating lease payments174,281 
Less: imputed interest(61,958)
Total present value of lease payments112,323 
Lease liabilities, current (See Note 12)
5,515 
Lease liabilities, non-current (See Note 12)
106,808 
Total lease liabilities$112,323 
During the year ended December 31, 2023, the Company entered into a sublease agreement whereby the Company continues to be a lessee under the original operating lease but will act as a sublessor.

During the years ended December 31, 2025, 2024 and 2023, the Company recorded $0, $0, and $1,506, respectively, of impairment to its right of use assets within general and administrative in the consolidated statements of operations. For the years ended December 31, 2025, 2024 and 2023, the Company recorded $1,777, $1,776 and $1,557, respectively, of sublease income within other income (expense), net within the consolidated statements of operations.
As of December 31, 2025, the weighted-average incremental borrowing rate was 7.74%. Additionally, the weighted-average remaining lease term as of December 31, 2025 was 11.65 years.

Total operating lease expense recognized on the consolidated statements of operations for the years ended December 31, 2025, 2024 and 2023 was $15,547, $15,805, and $16,021, respectively. Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2025, 2024 and 2023 was $15,829, $14,953 and $12,322, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 26, 2025
2023Feb 28, 2024
2022Mar 2, 2023

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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