MINNEAPOLIS, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD), a leader in fiber connectivity, reported results for the fiscal first quarter of 2026 ending December 31, 2025. Additional commentary is provided in a letter to shareholders available in the Investor Relations section of the Company’s website.

Management Commentary:

“During the quarter, we saw signs of stabilization and an early rebound in Community Broadband demand, reinforcing confidence in our long-term outlook for fiscal 2026.” said Company President and Chief Executive Officer, Cheri Beranek. “To capitalize on this momentum, we introduced our NOVA™ product line, which represents a strategic extension of our platform into adjacent markets. The NOVA product line positions Clearfield to leverage the demand for higher fiber density driven by data center deployments, low latency applications, and AI. As the leading provider of fiber management solutions for the Community Broadband market, we are guided by a disciplined strategy anchored in our Three-Pillar framework. That framework remains focused on protecting and strengthening our core business, expanding market share, and strategically extending our technology into adjacent markets.”

“We delivered fiscal first quarter net sales from continuing operations of $34.3 million, exceeding our guidance range of $30 to $33 million and up 16% from $29.7 million in the prior year period,” said Chief Financial Officer, Dan Herzog. “Gross margin for the first fiscal quarter improved 4 percentage points to 33.2%, driven primarily by improved overhead absorption and better inventory utilization. We ended the first fiscal quarter with approximately $157 million in cash, short-term and long-term investments and no debt. In November 2025, our Board of Directors increased our share repurchase authorization from $65 million to $85 million, leaving $23.1 million available for additional repurchases as of December 31, 2025.”

Financial Results for the Three Months Ended December 31, 2025

As previously announced, in November 2025 Clearfield completed the sale of its Nestor Cables business. As a result, all financial results are presented for the Clearfield segment continuing operations only, with Nestor results reported under discontinued operations in our Statement of Earnings and Statement of Cash Flows and reported as assets and liabilities held for sale on our Balance Sheet.

Clearfield net sales from continuing operations for the first quarter of fiscal 2026 were $34.3 million, up 16% from $29.7 million in the prior year period. The increase in net sales was driven by increased sales in Community Broadband which is emerging from the negative overhang that has resulted from years-long delays in the BEAD program.

As of December 31, 2025, order backlog (defined as purchase orders received but not yet fulfilled) was $22.8 million, a decrease of $1.9 million, or 8%, compared to $24.7 million as of September 30, 2025, and a decrease of $1.0 million, or 4%, from December 31, 2024.

Clearfield gross margin from continuing operations improved from 29.2% to 33.2% in the first quarter of fiscal 2026 from the prior year quarter driven primarily by improved overhead absorption as well as higher inventory utilization.

Operating expenses from continuing operations for the first quarter of fiscal 2026 increased 23% to $13.2 million, or 38.5% of sales, from $10.7 million, or 36.1% of sales, in the same year-ago quarter, driven by increased investment in personnel and related expenses.

Income tax benefit from continuing operations was $1 thousand for the first quarter of fiscal 2026, compared to income tax expense from continuing operations of $53 thousand for the year-ago quarter. The income tax rate for the first quarter of fiscal 2026 was lower than the statutory rate due to the impact of discrete items and a lower level of pre-tax book loss.

Net loss from continuing operations for the first quarter of fiscal 2026 totaled $0.28 million, or $0.02 per diluted share, compared to net loss from continuing operations of $0.35 million or $0.02 per diluted share, in the same year-ago quarter. In the first quarter of fiscal 2026, the Company repurchased approximately $5.2 million in shares under its share repurchase program.

Net loss from discontinued operations for the first quarter of fiscal 2026, was $0.34 million, or $0.02 per basic and diluted share compared to net loss from discontinued operations for the first quarter of fiscal 2025, of $1.6 million, or $0.11 per basic and diluted share.

Outlook

For the second quarter of fiscal 2026, we anticipate net sales from continuing operations in the range of $32 million to $35 million, operating expenses to be up slightly relative to the first quarter, and net loss per diluted share in the range of $0.02 to $0.10.

We are reiterating our outlook for fiscal 2026 with net sales from continuing operations expected to be in the range of $160 million to $170 million, operating expenses as a percentage of revenue expected to remain consistent with fiscal 2025, and net income per share expected to be in the range of $0.48 to $0.62.

The net income (loss) per share ranges are based on the number of shares outstanding at the end of the first quarter of fiscal 2026 and do not reflect potential additional share repurchases completed in fiscal 2026. Our guidance reflects our current understanding of the impact of the evolving tariff situation, which could contribute to uncertainty in our business and in the macroeconomic environment. As we currently understand the tariff environment, we do not believe that the tariffs currently in place will materially affect our operating results.

Conference Call

Management will hold a conference call today, February 4, 2026, at 5:00 p.m. Eastern time (4:00 p.m. Central time) to discuss these results and provide an update on business conditions.

Clearfield’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, will host the presentation, followed by a question-and-answer period.

U.S. dial-in: 1-844-826-3033

International dial-in: 1-412-317-5185

Conference ID: 10205826

The live webcast of the call can be accessed at the Clearfield Investor Relations website along with the company's earnings press release and presentation.

A replay of the call will be available after 8:00 p.m. Eastern Time on the same day through February 18, 2026, while an archived version of the webcast will be available on the Investor Relations website for 90 days.

U.S. replay dial-in: 1-844-512-2921

International replay dial-in: 1-412-317-6671

Replay ID: 10205826

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Cautionary Statement Regarding Forward-Looking Information

Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “outlook,” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s future revenue and operating performance, the development and marketing of new products, the impact of recent trade policy changes, including new and increased tariffs, retaliatory tariffs, trade disputes, and market and economic reactions to such changes, expected customer ordering patterns and future supply agreements with customers, expectations regarding the impact on our business of M&A activity among our customers, anticipated shipping on backlog and future lead times, future availability of components and materials from the Company’s supply chain, compliance with Build America Buy America (BABA) Act requirements, the impact of the Broadband Equity, Access, and Deployment (BEAD) Program, Rural Digital Opportunity Fund (RDOF) or other government programs on the demand for the Company’s products or timing of customer orders, the Company’s ability to match capacity to meet demand, expansion into new markets and trends in and growth of the FTTx markets, market segments or customer purchases, and other statements that are not historical facts. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation: we depend on the availability of sufficient supply of certain materials and global disruptions in the supply chain for these materials could prevent us from meeting customer demand for our products; we rely on single-source suppliers, which could cause delays, increase costs or prevent us from completing customer orders; changes in trade policy in the U.S. and other countries may adversely affect our business and results of operations; inflationary price pressures and uncertain availability of components, raw materials, labor and logistics used by us and our suppliers could negatively impact our profitability; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers could adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; our business is dependent on interdependent management information systems; we may be subject to risks associated with acquisitions, and the risks could adversely affect future operating results; adverse global economic conditions and geopolitical issues could have a negative effect on our business, and results of operations and financial condition; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent on key personnel; cyber-security incidents, including ransomware, data breaches or computer viruses, could disrupt our business operations, damage our reputation, result in increased expense, and potentially lead to legal proceedings; natural disasters, extreme weather conditions or other catastrophic events could negatively affect our business, financial condition, and operating results; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; our business is dependent upon capital spending by broadband service providers, and any delay, reduction or cancellation in capital spending by broadband service providers could adversely affect our business; if the telecommunications market does not continue to expand, our business may not grow as fast as we expect, which could adversely impact our business, financial condition and operating results; changes in U.S. government funding programs may cause our customers and prospective customers to delay, reduce, or accelerate purchases, leading to unpredictable and irregular purchase cycles; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; our success depends upon adequate protection of our patent and intellectual property rights; we face risks associated with expanding our sales outside of the United States; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our stock price has been volatile historically and may continue to be volatile - the price of our common stock may fluctuate significantly; anti-takeover provisions in our organizational documents, Minnesota law and other agreements could prevent or delay a change in control of our Company; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2025 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law.

Investor Relations Contact:

Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

Financial results will be available on the Investor Relations section of the company’s website along with a shareholder letter.

Date: Wednesday, February 4, 2026
Time: 5:00 p.m. Eastern time (4:00 p.m. Central time)
U.S. dial-in: 1-844-826-3033
International dial-in: 1-412-317-5185

The conference call will be webcast live and available for replay here.

An audio replay of the call will be available after 8:00 p.m. Eastern time on the same day through February 18, 2026.

U.S. replay dial-in: 1-844-512-2921
International replay dial-in: 1-412-317-6671
Replay ID: 10205826

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Investor Relations Contact: Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

Source: Clearfield, Inc.

MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (NASDAQ:CLFD), a leader in fiber connectivity solutions for broadband, data center, and network infrastructure environments, today announced the launch of the NOVA Platform, a modular, high-density fiber ecosystem designed to make building and scaling modern networks more intuitive. The platform is engineered for a range of environments, from large hyperscale and co-location data centers to enterprise campuses and broadband central offices, where operators need space-efficient solutions that can evolve as quickly as their capacity demands.

Industry analysts are seeing the shift firsthand. Dell’Oro Group reports that demand for 100G-and-above optics is accelerating and will drive double-digit growth in data center fiber through the end of the decade. As operators adopt AI-driven designs, fiber counts per rack continue to climb, putting greater pressure on density, space, and day-to-day manageability. The NOVA Platform is built to address exactly those needs with a product line that scales cleanly in any environment.

The foundation of the platform is the NOVA Cassette, Clearfield’s newest and highest-density cassette. It is designed for fast, straightforward installation, incorporates tool-less handling, and keeps all technician work at the front of the rack—practical details that reduce downtime and simplify everyday operations. Each cassette also includes an integrated designation card, paired with a second designation point on the panel, giving operators clearer, more consistent documentation than traditional high-density systems.

The cassette pairs with the new NOVA Patch Panels, available in 1U, 2U, and 4U sizes. A fully loaded 4U panel can support up to 384 LC fibers while still providing clean, direct front-of-rack access for moves, adds and changes. Cassettes can be installed from either the front or rear of the panel, giving operators flexibility during deployment while keeping ongoing technician work at the front of the rack.

“As data centers grow and network designs get more distributed and complex, operators need fiber systems that are simple to deploy and scale,” said Anis Khemakhem, Chief Commercial Officer at Clearfield. “The NOVA Platform is built around that idea. The comprehensive platform delivers solutions from patch panels to cabinets and racks, with tool-less installation and consistent documentation. This empowers operators to streamline training, reduce inventory sprawl, and grow their networks without rethinking their entire approach.”

Beyond its flagship cassette and patch panel, the NOVA Platform extends to wall-mount panels, trunk and jumper assemblies, and a new suite of rack and cabinet solutions that support everything from the core data center environment to distributed edge environments. Each component follows Clearfield’s guiding principles of high density, clean cable management, and the ability to scale without disrupting the active infrastructure.

The platform’s seamless integration is especially valuable as operators are under pressure to keep pace with 100G and 400G growth, rising data workloads, and the increasing number of distributed and edge facilities. The NOVA Platform’s modular design lets teams expand capacity incrementally—whether adding a small cluster in an enterprise closet or supporting an entire row in a hyperscale white space—without changing tools, retraining staff, or integrating components from multiple vendors. The installation consistency directly reduces operational friction, translating into faster deployments and lower long-term costs. Built-in features such as integrated splice trays minimize clutter and eliminate the need for additional hardware during field terminations, helping teams maintain reliability and speed throughout installation and turn-up.

Clearfield will showcase the NOVA Platform at BICSI Winter 2026 (booth #1208), where attendees can see the NOVA Patch Panels and Cassettes in action and explore the full ecosystem through live demos.

To learn more about Clearfield’s NOVA Platform for high density fiber networks, see the video and platform brochure. For more information about Clearfield’s complete fiber connectivity portfolio, visit www.SeeClearfield.com.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260115927231/en/

Media Contact:
Christy Barbaran
Connect2 Communications for Clearfield, Inc.
Clearfield@connect2comm.com

Source: Clearfield, Inc.

Clearfield’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, are scheduled to present on Tuesday, January 13, at 9:30 a.m. Eastern time. A live webcast, as well as a replay, of the presentation will be available here.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260105568579/en/

Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

Source: Clearfield, Inc.

MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (NASDAQ:CLFD), the leader in community broadband fiber connectivity, today announced that the company formally signed the Employer Support of the Guard and Reserve (ESGR) Statement of Support, reaffirming its commitment to employees who serve in the National Guard and Reserve. At the same event, ESGR presented its Patriot Award to Clearfield supervisor Todd Bade in recognition of his outstanding support for Continuation Engineer Robin Kuenzler, a member of the Air National Guard. Together, the signing and the award highlight Clearfield’s ongoing commitment to supporting employees who serve.

The Patriot Award honors direct supervisors nominated by Guard and Reserve members who demonstrate extraordinary support, flexibility, and encouragement for military service. This recognition highlights leaders who go above and beyond to ensure service members can fulfill their military duties while maintaining successful civilian careers.

“The ESGR Patriot Award reflects the efforts made to support citizen warriors through a wide range of measures, including flexible schedules, time off prior to and after deployment, caring for families, and granting leaves of absence if needed,” said Chad Sackett, Minnesota’s ESGR State Chair.

Kuenzler, an Airman First Class in the 133rd Airlift Wing based in Minnesota, added, “For nearly half a year during my active duty service, Todd willingly took on my responsibilities and worked many additional hours to keep our projects on track. His dedication, flexibility, and genuine commitment to supporting my military service made a significant difference to both me and our team. His actions truly embody the spirit of the ESGR Patriot Award.”

“At Clearfield, we believe great companies are defined by how they treat their people,” said Cheri Beranek, President & CEO of Clearfield. “Supporting our employees who serve isn’t just the right thing to do—it’s who we are. We are not only incredibly proud of Todd’s Patriot Award but also Robin’s service in the Air National Guard. They both embody our team’s dedication, service, and excellence.”

Employers who sign the ESGR Statement of Support commit to comply with the Uniformed Services Employment and Reemployment Rights Act (USERRA), equip managers to support Guard and Reserve employees, and value the unique skills service members bring to the workforce. They also pledge to actively hire, recognize, and support Guardsmen, Reservists, Veterans, and their families.

“The Statement of Support Program is the cornerstone of ESGR’s effort to gain and maintain employer support for the Guard and Reserve,” Sackett said. “The intent of the program is to increase employer support by encouraging employers to act as advocates for employee participation in the military.”

For more information on Clearfield and its innovative fiber solutions, visit www.SeeClearfield.com.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251209227886/en/

Media Contact:
Christy Barbaran
Connect2 Communications for Clearfield, Inc.
clearfield@connect2comm.com

Source: Clearfield, Inc.

MINNEAPOLIS--(BUSINESS WIRE)-- Clearfield, Inc. (NASDAQ:CLFD), the leader in community broadband fiber connectivity, today announced the launch of its Tribal Broadband Training Initiative, a program developed with the support of industry leaders to expand fiber workforce training across Tribal lands. Designed to provide meaningful career paths in fiber optics to enrolled Tribal members, the initiative offers no-cost Certified Fiber Optic Technician (CFOT®) training to support Tribal Nations in building the skilled workforce needed to deploy and sustain high-speed broadband networks, creating long-term economic opportunities within their communities.

Clearfield’s Tribal Broadband Training Initiative was born out of a workforce development session at Fiber Connect 2025, where the discussion focused on the need for accessible, skills-based training tailored to Tribal communities. Clearfield responded by launching the program.

“Training today’s fiber workforce is critical to ensuring broadband expansion creates lasting, local impact,” said Johnny Hill, Chief Operating Officer at Clearfield and a member of the Ojibwe Nation. “Our goal is to go beyond connecting homes — it’s about connecting people to meaningful careers that strengthen their own communities for generations.”

Clearfield’s goal is to host one training session each quarter near Tribal lands across the U.S. The first session will take place January 13–15, 2026, at Clearfield’s headquarters in Brooklyn Park, Minnesota. The second session is slated for April 7–9, 2026, at the Hopi Telecommunications office in Keams Canyon, Arizona. The third session is scheduled for July 21-23, 2026, at Tri County Tech in Bartlesville, Oklahoma.

The three-day CFOT course, accredited by the Fiber Optic Association (FOA), blends classroom learning with hands-on training. Participants gain practical expertise across inside plant, outside plant, and access network applications, preparing them for real-world fiber deployment roles. Upon successful completion, participants earn an industry-recognized certification that boosts employability and opens doors to advanced specialization within the broadband industry.

According to Kelly Weissmann, Clearfield’s Director of Technical Training and Support, the training offers more than technical knowledge—it builds a pathway to long-term success. “It’s a career path that you will be able to invest your lifetime into—a career that can raise a family and build a community,” Weissmann said.

The initiative also addresses a pressing national challenge: the need for skilled fiber technicians. According to a joint study by the Fiber Broadband Association (FBA) and the Power & Communication Contractors Association (PCCA), the U.S. broadband industry must add nearly 180,000 workers over the next decade to meet the demands of federally and state-funded broadband network construction. Without sufficient workforce development, the report warns that deployment bottlenecks could delay connectivity projects by two to three years. Clearfield’s Tribal Broadband Training Initiative helps fill this critical gap, ensuring these projects deliver sustainable, community-based employment.

“As more modern fiber networks are being built, these are certifications and jobs that are going to be here for a very long time,” said Tzeitel Buchanan, a member of the Cherokee Nation and Director of Public Sector Programs and Community Partnerships at Lumen Technologies, who offered industry insights that helped to inform the training initiative. “It is critical to fill these roles with technicians who understand the Tribal community, understand the customs and norms, and are able to help with that.”

Hill and Buchanan shared the vision and long-term goals of this initiative at the 2025 AISES National Conference in Minneapolis, which is the largest college and career fair for Indigenous professionals, high school students, and college students from the U.S. and Canada. "It's not just about building networks,” Buchanan added. "It's about building people and communities.”

This initiative underscores Clearfield's commitment to closing the skills gap, fostering digital literacy, and empowering individuals through education. By investing in workforce development at the local level, Clearfield is helping ensure that the benefits of broadband expansion reach everyone, including the communities historically left behind. To register for the Tribal Broadband Training Initiative or receive updates about future sessions, visit here. Additional dates and locations will be added soon.

For more information on Clearfield and its innovative fiber solutions, visit www.SeeClearfield.com.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251204451882/en/

Media Contact:
Christy Barbaran
Connect2 Communications for Clearfield, Inc.
clearfield@connect2comm.com

Source: Clearfield, Inc.

Cheri Beranek, President and Chief Executive Officer, said, “We are announcing that our Board of Directors has increased our share buyback authorization from $65 million to $85 million, leaving approximately $28.4 million available for additional repurchases when added to the $8.4 million repurchase amount remaining on September 30, 2025. This strategic decision reflects the Board’s continued view that the current share price does not fully capture our long-term opportunity. This increase in buyback authorization underscores our proactive commitment and confidence in the Company’s long-term outlook.”

Under the program, Clearfield may purchase shares of the Company’s common stock from time to time through open-market and privately negotiated transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Repurchases of common stock will be made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934 at prices depending on prevailing market conditions.

The program does not obligate Clearfield to repurchase any particular amount of common stock during any period. The repurchase will be funded by cash on hand. The repurchase program is expected to continue indefinitely until the maximum dollar amount of shares has been repurchased or until the repurchase program is earlier modified, suspended or terminated by the Board of Directors.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery products for communications networks. Our “fiber to anywhere” platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, data center, and military markets. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

MINNEAPOLIS, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Clearfield, Inc. (NASDAQ: CLFD), a leader in fiber connectivity, reported results for the fiscal fourth quarter and full year 2025. Additional commentary has been posted as a letter to Shareholders in the Investor Relations section of the Company’s website. Please visit the Clearfield investor relations website at https://ir.seeclearfield.com/financial-information/financial-results to view the Shareholder Letter.

Management Commentary
“We continue to execute on our Better Broadband and Beyond strategy by focusing on our three core pillars: protecting our core Community Broadband business, leveraging our market position into new applications, and utilizing our core competencies to expand into adjacent markets,” said Company President and Chief Executive Officer, Cheri Beranek. “As part of this strategy, we made the decision to divest our European Nestor Cables business. We made this technology acquisition in 2022 to establish North American cable manufacturing capabilities. Our goals of streamlining the manufacturing of cable and termination of cable assemblies in the same plant for ease of delivery and reduced cost have been met. We also are fully BABA and Made in America compliant.”

“The European part of this business didn’t meet our expectations and to improve the overall performance of the Company, we made the decision to divest and focus our efforts on higher-return opportunities in our North American markets. To that end, we are investing in sales development and expanding our distribution channels while introducing new products that we believe will begin to contribute to sales growth in fiscal 2026.”

“We are pleased with our financial performance in the fourth quarter, with Clearfield net sales from continuing operations of $41.1 million, up 13% year over year and a gross margin improvement of eight percentage points. Our revenue increase was driven by continued execution in our efforts to increase our share within the MSO and Large Regional carrier markets,” said Chief Financial Officer, Dan Herzog. “Full year Clearfield net revenue from continuing operations of $150.1 million was up 20% year over year while gross margins improved by over 13 percentage points. Our $16.5 million in share repurchases during fiscal year 2025 underscores our confidence in our company’s value and market opportunity, as evidenced by the size and scale of our buyback program. As a result, our Board of Directors has increased our share buyback authorization from $65 million to $85 million, providing us with $28.4 million available for additional repurchases when added to the $8.4 million repurchase amount remaining on September 30, 2025.”

Financial Results for the Three Months Ended September 30, 2025
As announced earlier this month, Clearfield has sold its Nestor Cables business. As a result, all financial results are presented for the Clearfield segment continuing operations only, with Nestor results reported under discontinued operations in our Statement of Earnings and Statement of Cash Flows and reported as assets and liabilities held for sale in our Balance Sheet.

Clearfield net sales from continuing operations were $41.1 million, up 13% from $36.2 million in the prior year period. The increase in net sales was driven by increased sales in the MSO and Large Regional Service Provider markets.

As of September 30, 2025, order backlog (defined as purchase orders received but not yet fulfilled) was $24.7 million, a decrease of $6 million, or 20%, compared to $30.7 million as of June 30, 2025, and an increase of $1.9 million, or 9%, from September 30, 2024.

Clearfield gross margin from continuing operations improved from 26.6% to 34.6% in the fourth quarter of fiscal 2025 from the prior year quarter, driven by higher volume, increases in production efficiency from our continuous improvement programs, and lower excess inventory charges.

Operating expenses from continuing operations for the fourth quarter of fiscal 2025 increased 10% to $13.3 million, or 32.3% of sales, from $12.1 million, or 33.4% of sales, in the same year-ago quarter.

Net income from continuing operations totaled $1.8 million, or $0.13 per diluted share, compared to net loss of $50,000, or $(0.01) per diluted share, in the same year-ago quarter. The Company did not repurchase shares under its share repurchase program in the quarter.

Financial Results for the Year Ended September 30, 2025
Net sales from continuing operations were $150.1 million, compared to $125.6 million in fiscal year 2024, an increase of 20%. Our year-over-year and fourth quarter performance was driven by continued penetration of the MSO and Large Regional Service Provider markets.

Gross margin from continuing operations increased from 20.6% in fiscal year 2024 to 33.7%, reflecting improved overhead absorption with higher volume, increases in production efficiency from our continuous improvement programs, along with lower excess inventory charges as a result of improved inventory utilization and beneficial recoveries of previously reserved inventory.

Operating expenses from continuing operations in fiscal 2025 increased 7% to $48.4 million from $45.1 million in fiscal year 2024. As a percentage of sales, operating expenses decreased to 32.3% from 35.9% in fiscal year 2024.

Earnings per share from continuing operations were $0.45, compared to a net loss per share of $0.58 in fiscal year 2024. The significant year-over-year change was primarily driven by higher demand and improved gross margin.

Outlook
For fiscal 2026, the Company expects net sales from continuing operations to be in the range of $160 million to $170 million, operating expenses as a percentage of revenue to remain consistent with fiscal 2025, and net income per share to be in the range of $0.48 to $0.62. We expect the late start to the BEAD program and the recent government shutdown to pressure investments both from private funding as well as government programs in our Community Broadband market early in the year.

For the first quarter of fiscal 2026, Clearfield expects net sales from continuing operations to be in the range of $30 million to $33 million, total operating expenses to remain consistent with the fiscal fourth quarter of 2025 and net income (loss) per share to be in the range of ($0.08) to $0.00. We do not expect Nestor’s results from discontinued operations through the date of sale to have a significant impact on net income (loss) per share in the first quarter and full fiscal year 2026. This outlook reflects our continued commitment to disciplined growth, operational efficiency, and prudent capital allocation. The net income (loss) per share ranges are based on the number of shares outstanding at the end of the fourth quarter and do not reflect potential share repurchases completed in fiscal 2026. Clearfield does not believe that tariffs currently in place will materially affect the Company’s operating results.

Conference Call
Management will hold a conference call today, November 25, 2025, at 8:30 a.m. Eastern Time (7:30 a.m. Central Time) to discuss these results and provide an update on business conditions.

Clearfield’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, will host the presentation, followed by a question-and-answer period.

U.S. dial-in: 1-844-826-3033
International dial-in: 1-412-317-5185
Conference ID: 10203440

The live webcast of the call can be accessed at the Clearfield Investor Relations website along with the company's earnings press release and presentation.

A replay of the call will be available after 11:30 a.m. Eastern Time on the same day through December 9, 2025, while an archived version of the webcast will be available on the Investor Relations website for 90 days.

U.S. replay dial-in: 1-844-512-2921
International replay dial-in: 1-412-317-6671
Replay ID: 10203440

About Clearfield, Inc. 
Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Cautionary Statement Regarding Forward-Looking Information
Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “outlook,” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s future revenue and operating performance, the development and marketing of new products, the impact of recent trade policy changes, including new and increased tariffs, retaliatory tariffs, trade disputes, and market and economic reactions to such changes, expected customer ordering patterns and future supply agreements with customers, anticipated shipping on backlog and future lead times, future availability of components and materials from the Company’s supply chain, compliance with Build America Buy America (BABA) Act requirements, the impact of the Broadband Equity, Access, and Deployment (BEAD) Program, Rural Digital Opportunity Fund (RDOF) or other government programs on the demand for the Company’s products or timing of customer orders, the Company’s ability to match capacity to meet demand, expansion into new markets and trends in and growth of the FTTx markets, market segments or customer purchases, and other statements that are not historical facts. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation: we depend on the availability of sufficient supply of certain materials and global disruptions in the supply chain for these materials could prevent us from meeting customer demand for our products; we rely on single-source suppliers, which could cause delays, increase costs or prevent us from completing customer orders; changes in trade policy in the U.S. and other countries may adversely affect our business and results of operations; inflationary price pressures and uncertain availability of components, raw materials, labor and logistics used by us and our suppliers could negatively impact our profitability; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers could adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; our business is dependent on interdependent management information systems; we may be subject to risks associated with acquisitions, and the risks could adversely affect future operating results; adverse global economic conditions and geopolitical issues could have a negative effect on our business, and results of operations and financial condition; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent on key personnel; cyber-security incidents, including ransomware, data breaches or computer viruses, could disrupt our business operations, damage our reputation, result in increased expense, and potentially lead to legal proceedings; natural disasters, extreme weather conditions or other catastrophic events could negatively affect our business, financial condition, and operating results; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; our business is dependent upon capital spending by broadband service providers, and any delay, reduction or cancellation in capital spending by broadband service providers could adversely affect our business; if the telecommunications market does not continue to expand, our business may not grow as fast as we expect, which could adversely impact our business, financial condition and operating results; changes in U.S. government funding programs may cause our customers and prospective customers to delay, reduce, or accelerate purchases, leading to unpredictable and irregular purchase cycles; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; our success depends upon adequate protection of our patent and intellectual property rights; we face risks associated with expanding our sales outside of the United States; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our stock price has been volatile historically and may continue to be volatile - the price of our common stock may fluctuate significantly; anti-takeover provisions in our organizational documents, Minnesota law and other agreements could prevent or delay a change in control of our Company; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2024 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law.

Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

Nestor Cables designs and manufactures fiber optic cables, connectivity accessories for fiber optic networks and instrumentation, and the Nestor Optimus product family for microduct networks for sale into the European market. Nestor Cables offers its customers complete solutions for fiber optic networks, including fiber to the home (FTTH) and fiber to the premises (FTTP) applications. The business includes approximately 100 employees in Finland and Estonia. Nestor Cables will continue to serve as a supplier to Clearfield for certain products.

“Today’s sale of the Nestor Cables business sharpens our focus on Clearfield’s core business and better positions us to capitalize on higher-return opportunities that align with our strengths,” said Cheri Beranek, Clearfield’s President and Chief Executive Officer. “We would like to extend our gratitude to the Nestor Cables team for the successful transfer of the technology and know-how necessary to manufacture our full line of FieldShield^® products in our North American manufacturing operations. This vertical integration streamlines our manufacturing process, reduces our costs and allows us to fully support Build America, Buy America (BABA) requirements.”

This transaction will result in a loss due to a one-time charge in the Company’s fiscal fourth quarter of 2025 with minimal cash impact to Clearfield. Additional information will be available in the Company’s earnings release, which is scheduled to be issued before the market opens on Tuesday, November 25, 2025. Moving forward, we expect the transaction to be accretive to the Company’s operating margin and profitability.

Oaklins Finland Ltd acted as financial advisor to Clearfield on the transaction.

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery products for communications networks. Our “fiber to anywhere” platform serves the unique requirements of leading incumbent local exchange carriers (traditional carriers), competitive local exchange carriers (alternative carriers), and MSO/cable TV companies, while also catering to the broadband needs of the utility/municipality, enterprise, data center, and military markets. Headquartered in

Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

Cautionary Statement Regarding Forward-Looking Information 
Forward-looking statements contained herein and in any related presentation or in the related Earnings Presentation are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as “may,” “plan,” “expect,” “aim,” “believe,” “project,” “target,” “anticipate,” “intend,” “estimate,” “will,” “should,” “could,” “outlook,” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s future revenue and operating performance, the impact of recent trade policy changes, including new and increased tariffs, retaliatory tariffs, trade disputes, and market and economic reactions to such changes, expected customer ordering patterns and future supply agreements with customers, anticipated shipping on backlog and future lead times, future availability of components and materials from the Company’s supply chain, compliance with Build America Buy America (BABA) Act requirements, future availability of labor impacting our customers’ network builds, the impact of the Broadband Equity, Access, and Deployment (BEAD) Program, Rural Digital Opportunity Fund (RDOF) or other government programs on the demand for the Company’s products or timing of customer orders, the Company’s ability to match capacity to meet demand, expansion into new markets and trends in and growth of the FTTx markets, market segments or customer purchases, future goodwill analysis and other statements that are not historical facts. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation: our business is dependent on interdependent management information systems; inflationary price pressures and uncertain availability of components, raw materials, labor and logistics used by us and our suppliers could negatively impact our profitability; we rely on single-source suppliers, which could cause delays, increase costs or prevent us from completing customer orders; we depend on the availability of sufficient supply of certain materials and global disruptions in the supply chain for these materials could prevent us from meeting customer demand for our products; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers could adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; we may be subject to risks associated with acquisitions, and the risks could adversely affect future operating results; we have exposure to movements in foreign currency exchange rates; adverse global economic conditions and geopolitical issues could have a negative effect on our business, and results of operations and financial condition; growth may strain our business infrastructure, which could adversely affect our operations and financial condition; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent on key personnel; cyber-security incidents, including ransomware, data breaches or computer viruses, could disrupt our business operations, damage our reputation, result in increased expense, and potentially lead to legal proceedings; natural disasters, extreme weather conditions or other catastrophic events could negatively affect our business, financial condition, and operating results; pandemics and other health crises could have a material adverse effect on our business, financial condition, and operating results; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; if the telecommunications market does not continue to expand, our business may not grow as fast as we expect, which could adversely impact our business, financial condition and operating results; changes in U.S. government funding programs may cause our customers and prospective customers to delay, reduce, or accelerate purchases, leading to unpredictable and irregular purchase cycles; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; our success depends upon adequate protection of our patent and intellectual property rights; we face risks associated with expanding our sales outside of the United States; expectations relating to environmental, social and governance matters may increase our cost of doing business and expose us to reputational harm and potential liability; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our stock price has been volatile historically and may continue to be volatile - the price of our common stock may fluctuate significantly; anti-takeover provisions in our organizational documents, Minnesota law and other agreements could prevent or delay a change in control of our Company; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2024 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law. 

Investor Relations Contact:
Greg McNiff
The Blueshirt Group
773-485-7191
clearfield@blueshirtgroup.com

MINNEAPOLIS--(BUSINESS WIRE)--

Clearfield, Inc. (NASDAQ:CLFD), the leader in community broadband fiber connectivity, today announced it has shipped more than 2 million ClearPass^® Connector Cleaning Dust Caps worldwide. This milestone reflects growing adoption of the solution across the entire fiber network — from the central office (CO) and data centers to outside plant (OSP) and fiber-to-the-home (FTTH) deployments. The ClearPass Dust Cap is an integrated, one-time-use cleaning tool built into every Clearfield patch cord and cable assembly with an SC connector. Delivering over 94% cleaning effectiveness in real-world deployments, it eliminates contamination on the fiber endface before the connection is made, preventing one of the most common causes of fiber network failures.

For Midco, a leading broadband provider serving more than 385,000 residential and business customers across the Midwest, ClearPass has become a small but powerful part of streamlining installations.

“The ClearPass Dust Cap is a big value add for us,” said Jeremy Billings, Construction & Engineering Planning Manager at Midco. “Our techs don’t have to carry extra tools or hunt down a one-click cleaner — it’s always right there at the end of the jumper. They just peel it, clean the fiber, and connect. That saves time in the field, reduces consumable costs, and helps us avoid running back and forth to the truck. Even though Clearfield’s jumpers come pre-polished, the dust cap takes care of any contamination that might happen along the way, so we know we’re leaving the customer with a clean, high-performing connection every time.”

Dirty connectors are the leading cause of intermittent fiber performance issues, such as signal loss and service disruptions, which often lead to costly return truck rolls. ClearPass simplifies the cleaning step, helping ensure networks stay online and deliver consistent customer service from the moment of activation. Looking ahead, Clearfield looks to expand the adoption of the ClearPass Dust Cap into accelerated broadband deployments and new market opportunities.

“As operators push to speed the connections made throughout all portions of the fiber network, we’re committed to designing solutions that put the installer first," said Anis Khemakhem, Chief Commercial Officer at Clearfield. "The ClearPass Dust Cap may be small, but it’s delivering big results for our customers by saving time, lowering costs, and keeping networks running at peak performance.”

For more information on the ClearPass Connector Cleaning Dust Cap, view the introductory video or visit: https://www.seeclearfield.com/products/clearpass-connector-cleaning-dust-cap.html

About Clearfield, Inc.

Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and distributes fiber optic management, protection, and delivery solutions that play a critical role in enabling broadband operators to close the digital divide. Our labor lite, craft-friendly platform is leveraged by community broadband, MSOs, incumbent service providers, ISPs, data centers, military, municipalities, and coops - from homes passed to homes connected faster and more efficiently. Headquartered in Minneapolis, MN, Clearfield deploys more than a million fiber ports each year. For more information, visit www.SeeClearfield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251110977905/en/

Media Contact:
Christy Barbaran
Connect2 Communications for Clearfield, Inc.
Clearfield@connect2comm.com

Source: Clearfield, Inc.