Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q1 2020 Earnings Presentation
35 slides from Clearfield's earnings presentation, Jan 27, 2020
Slide 1: Fiscal Q1 2020 Earnings Call
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD The Industry Leader in Craft Friendly Fiber Optic Management and Connectivity Solutions Fiscal Q1 2020 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Important Cautions Regarding Forward - Looking Statements Forward - looking statements contained herein and in any related presentation or in the related FieldReport are made pursuant to the safe harbor provisions of the Priva
Slide 3: Welcome
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ1 2020 Highlights
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD FQ1 2020 Highlights NASDAQ:CLFD 4 • Revenue of $19.4M • 33% growth in National Carrier revenue, driven by strong market adoption of FieldShield and other fiber connectivity solutions • 22% growth in MSO revenue • Order backlog
Slide 5: Revenue Comparison by Market
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Revenue Comparison by Market NASDAQ:CLFD 5 1) Based on revenue of $84.3 million and Point of Sales (POS) reporting from distributors who resell our product line into these markets. TTM Revenue Composition Ended 12/31/2019 1 Co
Slide 6: Financial Update
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 7 NASDAQ:CLFD Note: Dollar figures in millions $20.1 $19.1 $21.9 $24.0 $19.4 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Revenue +19% +13% +2% +7% - 4% Year - over - Year Growth Rate
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 8 NASDAQ:CLFD 39.6% 36.8% 38.4% 38.8% 39.9% Gross Profit (%) Note: Dollar figures in millions $20.1 $19.1 $21.9 $24.0 $19.4 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Revenue +19% +13% +2% +7% - 4% Year - ov
Slide 9: Quarterly Financial Performance
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 9 NASDAQ:CLFD 33.7% 35.3% 31.4% 29.7% 37.8% OPEX as % of Revenue Note: Dollar figures in millions ** $20.1 $19.1 $21.9 $24.0 $19.4 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Revenue +19% +13% +2% +7% - 4% Ye
Slide 10: Quarterly Financial Performance
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 10 NASDAQ:CLFD Note: Dollar figures in millions ** $1.0 $0.4 $1.3 $1.8 $0.5 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Net Income 5.0% 1.9% 5.9% 7.9% 2.1% Net Margin $6.8 $6.7 $6.9 $7.1 $7.3 Q1-19 Q2-19 Q3-1
Slide 11: Strong Balance Sheet Supports Profitable Growth
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Strong Balance Sheet Supports Profitable Growth • $46.8 million in cash and cash investment balances • Zero Debt NASDAQ:CLFD 11 $ in Millions Cash and Investment Balances $34.3 $44.2 $44.3 $35.5 $47.5 $46.8 2015 2016 2017 2018
Slide 12: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 12 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate
Slide 13: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 13 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancing Competitiv
Slide 14: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 14 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancing Competitiv
Slide 15: Fiscal 2020 Outlook & Guidance
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Fiscal 2020 Outlook & Guidance NASDAQ:CLFD 15 $92M - $95M REVENUE $60.3 $75.3 $73.9 $77.7 $85.0 $92 - $95 2015 2016 2017 2018 2019 2020F Revenue Growth Outlook ($ in Millions) 37% - 38% GROSS MARGINS 31% - 33% OPERATING EXPENS
Slide 16: Q&A
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 16 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 17: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 17 NASDAQ:CLFD
Slide 18: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 18 NASDAQ:CLFD
Slide 19: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 19 NASDAQ:CLFD
Slide 20: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 20 NASDAQ:CLFD
Slide 21: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 21 NASDAQ:CLFD
Slide 22: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 22 NASDAQ:CLFD
Slide 23: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 23 NASDAQ:CLFD
Slide 24: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 24 NASDAQ:CLFD
Slide 25: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 25 NASDAQ:CLFD
Slide 26: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 26 NASDAQ:CLFD
Slide 27: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 27 NASDAQ:CLFD
Slide 28: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 28 NASDAQ:CLFD
Slide 29: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 29 NASDAQ:CLFD
Slide 30: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 30 NASDAQ:CLFD
Slide 31: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 31 NASDAQ:CLFD
Slide 32: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 32 NASDAQ:CLFD
Slide 33: January 23, 2020
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD 33 NASDAQ:CLFD
Slide 34: Thank You
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Thank You Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 34
Slide 35: Contact Us
FieldReport / Fiscal Q1 2020 Earnings Call / January 23, 2020 NASDAQ:CLFD Contact Us NASDAQ:CLFD 35 COMPANY CONTACT: Cheri Beranek President & CEO Clearfield, Inc. IR@clfd.net INVESTOR RELATIONS: Matt Glover and Tom Colton Gateway Investor Relations (949) 574 - 3860 CLFD@gatewayir.com