Clear Secure, Inc. (NYSE:YOU) Q1 2024 Earnings Call Transcript

And then lastly, to your point on PreCheck, the rollout is probably around a month behind where we wanted it to be and where we thought it would be, for Q2. So that’s an impact. So small impact in Q1 and incrementally larger impact in Q2, but still small. And then again, as we look to the back half, we see increased contribution from PreCheck, Verified up, in back half versus the first half, CLEAR Plus higher volumes and higher sales volumes, right, and some additional tailwinds from the selective pricing that we’re planning in the August timeframe. So, our expectation is that the back half bookings growth would exceed the Q2 growth rate.

Michael Turrin: Okay, great. Thanks for that. And then the Amex partnership extension, clearly a positive. Congratulations on that. Good to see further penetration as we look to the balance sheet metrics from the results. Anything that we should be mindful of from a seasonality perspective into 2Q for the Amex partnership? Thanks.

Ken Cornick: Nothing specific to the Amex partnership from a seasonal perspective. I would say, just to take a step back, last year starting we talked about for the Q3 call, we talked about a normalization of travel trends. And so, we’ve seen that continue through including in our Q2 guidance. So, in Q3, I think we’ll be back to sort of normalized year over year sort of pre COVID travel trends, if you will. That’s the only thing I would highlight there.

Operator: We have reached the end of the question-and-answer session. And I will now turn the call over to Caryn Seidman-Becker for closing remarks.

Caryn Seidman-Becker: Thank you for joining our first quarter 2024 earnings call. I am proud of how the CLEAR team is executing on our three priority initiatives, improving the member experience, scaling TSA PreCheck and scaling CLEAR Verified. Thank you.

Operator: This concludes today’s conference call. [Operator Closing Remarks].