Clearfield, Inc. · NASDAQ:CLFD
Clearfield — Q4 2020 Earnings Presentation
25 slides from Clearfield's earnings presentation, Nov 4, 2020
Slide 1: Fiscal Q4 and FY 2020 Earnings Call
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD The Industry Leader in Craft Friendly Fiber Optic Management and Connectivity Solutions Fiscal Q4 and FY 2020 Earnings Call FieldReport
Slide 2: Important Cautions Regarding Forward-Looking Statements
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 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 Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Welcome Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 3
Slide 4: FQ4 & 2020 Highlights
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD FQ4 & 2020 Highlights NASDAQ:CLFD 4 Fourth Quarter: • Record revenue of $27.3M, up 14% y/o/y • Gross profit up 21% to record $11.2M (41.2% of revenue) • Net income of $3.0M or $0.22 per diluted share • Order backlog increased
Slide 5: FQ4 & 2020 Revenue Comparison by Market
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD FQ4 & 2020 Revenue Comparison by Market NASDAQ:CLFD 5 All dollar figures in millions 1) Based on revenue of $93.1 million and Point of Sales (POS) reporting from distributors who resell our product line into these markets. Ann
Slide 6: Financial Update
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Financial Update Dan Herzog CHIEF FINANCIAL OFFICER NASDAQ:CLFD 6
Slide 7: Quarterly Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Quarterly Financial Performance 7 NASDAQ:CLFD Note: Dollar figures in millions $24.0 $19.4 $20.4 $26.0 $27.3 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Revenue +7% - 4% +7% +19% +14% Year - over - Year Growth Rate
Slide 8: Quarterly Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Quarterly Financial Performance 8 NASDAQ:CLFD Note: Dollar figures in millions $24.0 $19.4 $20.4 $26.0 $27.3 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Revenue +7% - 4% +7% +19% +14% Year - over - Year Growth Rate $9.3 $7.7 $8.2 $10.8 $11.
Slide 9: Quarterly Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Quarterly Financial Performance 9 NASDAQ:CLFD Note: Dollar figures in millions $24.0 $19.4 $20.4 $26.0 $27.3 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Revenue +7% - 4% +7% +19% +14% Year - over - Year Growth Rate $9.3 $7.7 $8.2 $10.8 $11.
Slide 10: Quarterly Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Quarterly Financial Performance 10 NASDAQ:CLFD Note: Dollar figures in millions $24.0 $19.4 $20.4 $26.0 $27.3 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Revenue +7% - 4% +7% +19% +14% Year - over - Year Growth Rate $9.3 $7.7 $8.2 $10.8 $11
Slide 11: Annual Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Annual Financial Performance 11 NASDAQ:CLFD Note: Dollar figures in millions $77.7 $85.0 $93.1 2018 2019 2020 Revenue +5% +10% +9% Year - over - Year Growth Rate
Slide 12: Annual Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Annual Financial Performance 12 NASDAQ:CLFD Note: Dollar figures in millions $77.7 $85.0 $93.1 2018 2019 2020 Revenue $31.0 $32.7 $37.9 2018 2019 2020 Gross Profit 39.9% 38.4% 40.7% Gross Profit (%) $37.9 +5% +10% +9% Year - o
Slide 13: Annual Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Annual Financial Performance 13 NASDAQ:CLFD Note: Dollar figures in millions $77.7 $85.0 $93.1 2018 2019 2020 Revenue $31.0 $32.7 $37.9 2018 2019 2020 Gross Profit $37.9 $25.9 $27.5 $29.5 2018 2019 2020 Operating Expenses 33.4
Slide 14: Annual Financial Performance
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Annual Financial Performance 14 NASDAQ:CLFD Note: Dollar figures in millions $37.9 $4.3 $4.6 $7.3 2018 2019 2020 Net Income 5.5% 5.4% 7.8% Net Margin $77.7 $85.0 $93.1 2018 2019 2020 Revenue $31.0 $32.7 $37.9 2018 2019 2020 Gr
Slide 15: Strong Balance Sheet Supports Profitable Growth
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Strong Balance Sheet Supports Profitable Growth • $52.2 million in cash and cash investment balances NASDAQ:CLFD 15 $ in Millions as of September 30 Cash and Investment Balances $35.5 $47.5 $52.2 2018 2019 2020
Slide 16: COVID-19 Operational Update
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 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 • Establish
Slide 17: COVID-19 Accelerating Broadband Demand
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD COVID - 19 Accelerating Broadband Demand Wireline Broadband Access (PON, p2P, xDSL, Gfast) Equipment Revenue (July 2020 vs. Feb. 2020)
Slide 18: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 18 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate
Slide 19: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 19 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancing Competitiv
Slide 20: Clearfield PON Fiber Distribution Hubs
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Clearfield 288 PON Fiber Distribution Hubs
Slide 21: Clearfield's 'Coming of Age' Plan
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Clearfield’s ‘Coming of Age’ Plan NASDAQ:CLFD 21 Expanding Core Community Broadband Business Attracting utilities, co - ops and CLECs as they enter underserved communities, maintaining a steady growth rate Enhancing Competitiv
Slide 22: Key Takeaways
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 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, e
Slide 23: Q&A
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Q&A Cheri Beranek PRESIDENT & CEO NASDAQ:CLFD 23 Dan Herzog CHIEF FINANCIAL OFFICER
Slide 24: November 4, 2020
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD
Slide 25: Contact Us
FieldReport / Fiscal Q4 2020 Earnings Call / November 4, 2020 NASDAQ:CLFD Contact Us NASDAQ:CLFD 25 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