Clearfield, Inc. Q4 FY2024 earnings call

• In fiscal 2024, despite challenging industry dynamics, Clearfield focused on investing in the business, built stronger customer relationships, launched new products to reduce deployment time, and optimized cost and operating structure. • Looked forward to opportunities from public and private funding for rural broadband expansion, introducing products like SeeChange, CraftSmart FiberFirst Pedestal, CraftSmart Deploy Reel TAP Box, FiberFlex series of active cabinets, and a 3D interactive fiber installation tool via the BILT mobile app. • Anis Khemakhem joined the company and was promoted to Chief Marketing Officer; Kevin Morgan will continue in an advisory capacity. • Noted that inventory overhang was mainly at MSO accounts, while the Community Broadband segment and large regional providers had recovered to a normal ordering cadence.

Consolidated net sales in the fourth quarter of fiscal 2024 were $46.8 million, a 6% decrease from $49.7 million in the same year - ago period but above the guidance range of $40 million to $43 million. This included $35.7 million of North American net sales and $11.1 million of international net sales. For the full fiscal year, consolidated net sales were $166.7 million, a 38% decrease from $268.7 million in fiscal 2023. Revenue from homes connected continued to represent a larger portion of overall revenue relative to comparable year - ago periods.

• Anticipates revenues of $170 million to $185 million for fiscal year 2025. • Expects U.S. revenue growth to be in line or above industry - focused forecasts with minimal revenue growth in the international market, focusing on gross profit improvements. • Sees a somewhat slow start to fiscal 2025 with first - quarter net sales in the range of $33 million to $38 million. • Projects net loss per share in the first quarter of fiscal 2025 to be in the range of $0.28 to $0.35. • Anticipates growth to accelerate with the positive impact of BEAD funding in 2026 and beyond, especially in rural markets where Clearfield is strong.

• No specific detailed risks discussed in the provided transcript, but notes that forward - looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward - looking statements.

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