Clear Secure, Inc. (NYSE:YOU) Q4 2022 Earnings Conference Call March 1, 2023 8:00 AM ET
Company Participants
Caryn Seidman-Becker - Co-Founder, Chairman & Chief Executive Officer
Ken Cornick - Co-Founder, President & Chief Financial Officer
Conference Call Participants
Dana Telsey - Telsey Advisory Group
Joshua Reilly - Needham & Company
Paul Chung - JPMorgan
David Engel - Wells Fargo
Ananda Baruah - Loop Capital
Operator
Good morning and welcome to CLEAR's Fiscal Fourth Quarter and Full Year 2022 Conference Call. We have with us today Ms. Caryn Seidman-Becker, Co-Founder, Chairman, and Chief Executive Officer; and Ken Cornick, Co-Founder, President, and Chief Financial Officer.
As a reminder before we begin, today's discussion contains forward-looking statements about the company's future business and financial performance. These are based on management's current expectations and are subject to risks and uncertainties.
Factors that could cause actual results to differ materially from these statements are included in the company's reports on file with the SEC including today's shareholder letter. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call.
During this call the company will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP financial measures is provided in today's shareholder letter and the most recently filed annual report on Form 10-K. These items can be found on the Investor Relations section of CLEAR's website.
With that, I'll turn the call over to Caryn.
Caryn Seidman-Becker
Hello. Thank you and welcome to our fourth quarter 2022 earnings call. Fourth quarter earnings capped off a strong year of growth at CLEAR. People's desire to travel last year surpassed even our most bullish expectations.
Domestic checkpoint volumes were up 30% in 2022. At the same time, travel infrastructure proved to be far more fragile than anyone could have imagined. Travel is hard and getting harder. CLEAR's mission, platform, and products are a critical part of the solution to make travel safer and easier.
It was important we were staffed and ready to help travelers as they return to the sky and CLEAR's reputation as a great place to build a career attracts top talent to serve these travelers.
On a sequential basis, we added 8.5% to our Ambassador Workforce across airports nationwide as we saw opportunities to enhance service and grow our member base. As our members know the CLEAR Ambassador is a bright spot in what can be a stressful time. They are ready and waiting to welcome you at 4:30 in the morning on a busy travel day or 10 P.M. ahead of your red eye. That's why we shared in our letter some great stories about our airport team who bring CLEAR's technology to life.