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Clearfield (CLFD) investor relations material

Clearfield Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary25 Nov, 2025

Executive summary

  • Net sales from continuing operations grew 20% year-over-year to $150.1 million in fiscal 2025, with Q4 net sales reaching $41.1 million, up 13% year-over-year.

  • Gross margin improved to 33.7% for the year, up from 20.6% in the prior year, and Q4 gross margin rose to 34.6%.

  • Net income per share from continuing operations was $0.45–$0.49 for the year, reversing a prior year loss of $0.58 per share.

  • The Nestor Cables business was divested, resulting in a $10.4 million non-cash write-down and a renewed focus on North American operations.

  • Growth was driven by increased penetration in MSO and Large Regional Service Provider markets.

Financial highlights

  • Q4 2025 net sales from continuing operations were $41.1 million, with full-year sales at $150.1 million.

  • Gross margin for FY25 was 33.7%, up from 20.6% in FY24; Q4 gross margin was 34.6%.

  • Net income from continuing operations for the year was $6.3–$6.8 million, compared to a net loss of $8.5 million in 2024.

  • Cash, short-term, and long-term investments at year-end totaled $166 million.

  • $16.5 million was spent on share repurchases, with buyback authorization increased to $85 million.

Outlook and guidance

  • Fiscal 2026 net sales from continuing operations are expected to be $160–$170 million, with EPS guidance of $0.48–$0.62.

  • Q1 2026 net sales are projected at $30–$33 million, with net income (loss) per share between ($0.08) and $0.00.

  • Operating expenses as a percentage of revenue expected to remain consistent with fiscal 2025.

  • Guidance reflects uncertainty due to evolving tariff situation and BEAD delays.

  • Normalization is expected by Q2 2026, with a strong build season anticipated as BEAD and private investments ramp up.

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Frequently asked questions

Clearfield, Inc. Clearfield, Inc. is a telecommunications equipment company that designs and manufactures fiber management, connectivity, and protection solutions. The company's product portfolio includes fiber distribution systems, fiber optic enclosures, optical components, and related accessories that support the deployment of high-speed broadband networks. Clearfield serves network operators, including broadband providers, telecommunications companies, and utilities, to enhance the efficiency and reliability of their fiber optic infrastructure. The company is headquartered in Brooklyn Park, Minnesota, and its shares are listed on the NASDAQ.

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