---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-24-000519"
form_type: "8-K"
ticker: "CLFD"
cik: "0000796505"
company_name: "Clearfield, Inc."
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T12:18:20.696773+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Clearfield Q1 fiscal 2024 revenue down 60% YoY, net loss of $5.3M

## Summary
- Net sales $34.2M, down 60% YoY; net loss $5.3M ($0.35 diluted) vs net income $14.3M ($1.00 diluted) YoY.
- Gross margin fell to 13.7% from 35.7% due to excess capacity and inventory reserves; backlog $43.5M, down 24% sequentially.
- Repurchased ~$12M in shares under buyback program, leaving $21M available; Q2 FY24 revenue guidance $29-33M, net loss per share $(0.49)-(0.55).
- Expects full Build America, Buy America Act compliance by end of 2024; launched new smaller vault product.

## SEC filing metadata
- accession: 0001171843-24-000519
- form_type: 8-K
- ticker: CLFD
- cik: 0000796505
- company_name: Clearfield, Inc.
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/796505/000117184324000519/0001171843-24-000519-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/796505/000117184324000519/f8k_020124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-24-000519
- JSON: https://secwatch.observer/filing/0001171843-24-000519.json
- Plain text: https://secwatch.observer/filing/0001171843-24-000519.txt

## Key facts
- Earnings Releases
  Clearfield, Inc. reported first quarter of fiscal 2024 ended December 31, 2023 results: revenue $34.2 million, net income $5.3 million, EPS $0.35 per diluted share. Guidance initiated.
  - Period: first quarter of fiscal 2024 ended December 31, 2023
  - Revenue: $34.2 million
  - Net income: $5.3 million
  - EPS: $0.35 per diluted share
  - Guidance: initiated
  - Result: reported results
  source text: share repurchases in the second quarter.” Financial Results for the Three Months Ended December 31, 2023 Net sales for the first quarter of fiscal 2024 decreased 60.2% to $34.2 million from $85.9 million in the same year-ago quarter. As of December 31, 2023, order backlog (defined as purchase orders received but not yet fulfilled) was $43.5 million, a decrease
  evidence_url: https://www.sec.gov/Archives/edgar/data/796505/000117184324000519/0001171843-24-000519-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.