Clearfield, Inc., together with its subsidiaries, designs, manufactures, and distributes fiber management, protection, and delivery products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical component integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and FiberFlex, an outdoor active cabinet for mounting and configuration of electronic equipment. It also provides CraftSmart FiberFirst pedestals, an access terminal that offers cable management and mounting bracket kit that support the deployment of access terminals; YOURx, an access terminal that provides flexibility with cable mid-span and internal splicing options; FieldShield, a fiber pathway and protection method for reducing the cost of broadband deployment; Fiber Assemblies used for industry-standard or customer-specified configurations; and ClearPass Connector Cleaning Dust Cap, which simplifies fiber connector cleaning while enhancing network performance. In addition, the company offers fiber to the premise, fiber to the business, DC interconnect/campus network, meet-me room, main distribution area, and white space. Further, it provides metro core, backhaul, indoor/outdoor DAS, small cells, and FTT-cell site. The company serves various service providers, including national carriers, community broadband, multiple system operators, legacy build-to-print copper and fiber assemblies, large enterprises, and original equipment manufacturer markets. It sells its products through sales force and authorized distributors. The company was formerly known as APA Enterprises, Inc. and changed its name to Clearfield, Inc. in January 2008. Clearfield, Inc. was incorporated in 1979 and is headquartered in Minneapolis, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $150M | $15M | $-8M | $22M | -3.1% | 19.6% | - |
| 2024 | $126M | $-6M | $-12M | $10M | -4.5% | -44.4% | -138.3% |
| 2023 | $226M | $47M | $33M | $17M | 10.3% | -16.7% | -34.1% |
| 2022 | $271M | $68M | $49M | $-7M | 33.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 270.88 | 225.72 | 125.57 | 150.13 |
| Cost Of Revenue | 157.94 | 145.87 | 99.72 | 99.60 |
| Gross Profit | 112.95 | 79.86 | 25.85 | 50.54 |
| Operating Expense | 49.13 | 42.28 | 45.08 | 48.42 |
| Operating Income | 63.82 | 37.58 | -19.23 | 2.12 |
| EBITDA | 67.57 | 47.37 | -5.84 | 14.79 |
| EBIT | 64.14 | 42.78 | -11.76 | 8.67 |
| Pretax Income | 63.83 | 42.61 | -11.76 | 8.67 |
| Tax Provision | 14.47 | 8.88 | -3.25 | 2.36 |
| Net Income | 49.36 | 32.53 | -12.45 | -8.05 |
| Net Income Common Stockholders | 49.36 | 32.53 | -12.45 | -8.05 |
| Total Expenses | 207.07 | 188.15 | 144.80 | 148.02 |
| Interest Expense | 0.31 | 0.17 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 |
| Selling General And Administration | 49.13 | 42.28 | 45.08 | 48.42 |
| Normalized EBITDA | 67.24 | 42.17 | -13.31 | 8.24 |
| Normalized Income | 49.11 | 29.61 | -13.92 | 1.54 |
| Basic EPS | 3.58 | 2.17 | -0.85 | -0.58 |
| Diluted EPS | 3.55 | 2.17 | -0.85 | -0.58 |
| Tax Effect Of Unusual Items | 0.07 | 1.09 | 2.06 | 1.78 |
| Tax Rate For Calcs | 0.23 | 0.21 | 0.28 | 0.27 |
| Total Unusual Items | 0.33 | 5.20 | 7.47 | 6.55 |
| Total Unusual Items Excluding Goodwill | 0.33 | 5.20 | 7.47 | 6.55 |
| Net Income From Continuing Operation Net Minority Interest | 49.36 | 33.72 | -8.51 | 6.31 |
| Reconciled Depreciation | 3.43 | 4.59 | 5.92 | 6.12 |
| Reconciled Cost Of Revenue | 157.94 | 145.87 | 99.72 | 99.60 |
| Net Interest Income | -0.31 | -0.17 | 0 | 0 |
| Net Income From Continuing And Discontinued Operation | 49.36 | 32.53 | -12.45 | -8.05 |
| Total Operating Income As Reported | 63.82 | 37.58 | -19.23 | 2.12 |
| Diluted Average Shares | 13.91 | 15.01 | 14.58 | 13.99 |
| Basic Average Shares | 13.77 | 14.98 | 14.58 | 13.99 |
| Diluted NI Availto Com Stockholders | 49.36 | 32.53 | -12.45 | -8.05 |
| Net Income Including Noncontrolling Interests | 49.36 | 32.53 | -12.45 | -8.05 |
| Net Income Discontinuous Operations | 0 | -1.19 | -3.94 | -14.36 |
| Net Income Continuous Operations | 49.36 | 33.72 | -8.51 | 6.31 |
| Other Income Expense | 0.33 | 5.20 | 7.47 | 6.55 |
| Gain On Sale Of Security | 0.33 | 5.20 | 7.47 | 6.55 |
| Net Non Operating Interest Income Expense | -0.31 | -0.17 | 0 | 0 |
| Interest Expense Non Operating | 0.31 | 0.17 | 0 | 0 |
| Interest Income Non Operating | 0 | 0 | 0 | 0 |
| Operating Revenue | 270.88 | 225.72 | 125.57 | 150.13 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Clearfield, Inc.this co. | CLFD | $386M | 62.02β premium | 1.55 | -3.1% | 34.29 |
| Digital Turbine, Inc. | APPS | $404M | - | 2.07 | -59.8% | 7.97 |
| Climb Global Solutions, Inc. | CLMB | $393M | 18.34 | 3.32 | 18.3% | 9.32 |
| Rapid7, Inc. | RPD | $391M | 16.25 | 2.49 | 15.1% | 15.28 |
| Cerence Inc. | CRNC | $384M | 427.00 |
| 2.56 |
| -12.4% |
| 7.54 |
| Yext, Inc. | YEXT | $379M | 54.14 | 2.92 | 23.8% | 20.26 |
| IBEX Limited | IBEX | $376M | 9.28 | 2.43 | 27.4% | 5.70 |
| NVE Corporation | NVEC | $376M | 26.61 | 6.45 | 24.2% | 22.56 |
| Blend Labs, Inc. | BLND | $365M | - | -11.93 | 26.4% | -22.14 |
| Peer Median | - | 22.47 | 2.52 | 21.0% | 8.65 | |