Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q3 2020 Earnings Presentation
19 slides from Clearfield's earnings presentation, Jul 23, 2020
Slide 1: Fiscal Q3 2020 Earnings Call
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD The Industry Leader in Craft Friendly Fiber Optic Management and Connectivity Solutions Fiscal Q3 2020 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q3 2020 Earnings Call / July 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 Private
Slide 3: Welcome
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ3 2020 Highlights
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD FQ3 2020 Highlights NASDAQ:CLFD 4 • Record revenue of $26.0M, up 19% year - over - year • MSO revenue up 48% • Community Broadband revenue up 22% • National Carrier revenue up 19% • Gross profit up 28% to quarterly record $10.8M
Slide 5: FQ3 & TTM Revenue Comparison by Market
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD FQ3 & TTM Revenue Comparison by Market NASDAQ:CLFD 5 All dollar figures in millions 1) Based on revenue of $89.7 million and Point of Sales (POS) reporting from distributors who resell our product line into these markets. TTM Rev
Slide 6: Financial Update
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 7 NASDAQ:CLFD Note: Dollar figures in millions $21.9 $24.0 $19.4 $20.4 $26.0 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Revenue +2% +7% - 4% +7% +19% Year - over - Year Growth Rate
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 8 NASDAQ:CLFD Note: Dollar figures in millions $8.4 $9.3 $7.7 $8.2 $10.8 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Gross Profit 38.4% 38.8% 39.9% 39.9% 41.5% Gross Profit (%) $21.9 $24.0 $19.4 $20.4 $26.0 Q3-1
Slide 9: Quarterly Financial Performance
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 9 NASDAQ:CLFD Note: Dollar figures in millions 31.4% 29.7% 37.8% 36.4% 27.8% OPEX as % of Revenue $6.9 $7.1 $7.3 $7.5 $7.2 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Operating Expenses $8.4 $9.3 $7.7 $8.2 $10.8
Slide 10: Quarterly Financial Performance
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Quarterly Financial Performance 10 NASDAQ:CLFD Note: Dollar figures in millions 5.9% 7.9% 2.6% 3.7% 11.5% Net Margin $1.3 $1.9 $0.5 $0.7 $3.0 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Net Income 31.4% 29.7% 37.8% 36.4% 27.8% OPEX as % of Rev
Slide 11: Strong Balance Sheet Supports Profitable Growth
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Strong Balance Sheet Supports Profitable Growth • $48.4 million in cash and cash investment balances NASDAQ:CLFD 11 $ in Millions as of September30, except for Q3 - 20 Cash and Investment Balances $34.3 $44.2 $44.3 $35.5 $47.5 20
Slide 12: COVID-Operational Update
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD COVID - 19 Operational Update • Critical manufacturer status • Operating at normal capacity while adhering to state and federal government social distancing guidelines • Majority of supply chain remains operational • Placed signi
Slide 13: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q3 2020 Earnings Call / July 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
Slide 14: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q3 2020 Earnings Call / July 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 Competitive P
Slide 15: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 15 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancing Competitive P
Slide 16: Key Takeaways
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Key Takeaways Proven business model and management execution Enhanced management team and expansion of total addressable market Strong competitive position in a rapidly growing multi - billion dollar fiber optics industry, especi
Slide 17: Q&A
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 17 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 18: Thank You
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Thank You Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 18
Slide 19: Contact Us
FieldReport / Fiscal Q3 2020 Earnings Call / July 23, 2020 NASDAQ:CLFD Contact Us NASDAQ:CLFD 19 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