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  "documentTitle": "Clear Secure, Inc. (YOU)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-04-30 00:00:00",
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  "notes": "Uses quotes from CFO and CEO across four quarters to demonstrate a pattern of vague financial reporting.",
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      "text": "Management frequently talks about gross profit dollar growth. However, the Company has never defined exactly how it calculates gross profit. Yet, on the next slide we will show that CLEAR's stock promoters believe its gross profit is world-class.",
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      "text": "Source: CLEAR conference calls",
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      "text": "CLEAR Talks About Gross Profit, But Doesn't Define It",
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