Clearfield Q3 FY2024 net loss per share $(0.04) beats guidance on revenue $48.8M

Clearfield, Inc.

2024-Q3 EPS reported -$0.79 revenue$119,933,000

Revenue $48.8M (-20% YoY) exceeded outlook; net loss ($0.4M) vs net income $5.2M a year ago.
Gross margin improved to 21.9% from 7.7% in Q2 but down from 31.1% in Q3 2023.
Order backlog fell 31% QoQ to $32.6M; Q4 revenue guided $40-43M with loss per share $(0.17)-(0.22).
Repurchased $5.5M in shares; $24.9M remains available under buyback program.
Community Broadband sales on par with last year; BEAD revenue not expected until late calendar 2025.

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