Clear Secure Inc (YOU)

Quick ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021
Cash	US$ in thousands	32,885	39,108	64,134	57,900	63,522	57,248	39,089	38,939	329,077	339,736	299,134	280,107	337,791	168,302
Short-term investments	US$ in thousands	511,812	1,124	621	665,197	673,044	707,769	708,919	665,810	342,310	333,933	334,353	335,228	335,457	37,826
Receivables	US$ in thousands	639	630,510	634,327	526	736	929	962	1,169	2,102	3,016	7,525	5,331	3,921	1,440
Total current liabilities	US$ in thousands	557,685	633,300	624,777	552,049	478,272	496,766	464,598	397,473	340,584	331,980	290,405	264,591	214,817	163,381
Quick ratio		0.98	1.06	1.12	1.31	1.54	1.54	1.61	1.78	1.98	2.04	2.21	2.35	3.15	1.27

September 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($32,885K + $511,812K + $639K) ÷ $557,685K
= 0.98

The quick ratio of Clear Secure Inc has exhibited fluctuating trends over the past few quarters. A quick ratio below 1 indicates that the company may have difficulties meeting its short-term obligations with its most liquid assets. As of September 30, 2024, the quick ratio stands at 0.98, slightly below 1, which may raise concerns about the company's ability to cover its current liabilities with its liquid assets alone.

Comparing the current quick ratio to previous quarters, we observe a downward trend from 1.54 in June 2023 to 0.98 in September 2024. This decline suggests a potential deterioration in Clear Secure Inc's liquidity position over the past year.

Although the quick ratio has fluctuated, it remains above 1 in most periods until the latest one. A quick ratio above 1 implies that the company could meet its short-term obligations using a combination of its cash, cash equivalents, and accounts receivable. However, a declining trend in the quick ratio warrants further investigation into the company's liquidity management and its ability to cover short-term liabilities efficiently.