The revenue decline and loss-making quarter are concerning, but the strong backlog growth (+39% QoQ) and reaffirmed full-year guidance suggest a potential revenue ramp in H2. Watch Q3 results closely for confirmation of the pickup and margin recovery.
Price Chart
Executive Summary
Clearfield reported Q2 fiscal 2026 results with net sales down 15% YoY to $34.4M and a net loss of $0.5M ($0.04/sh) vs prior-year income of $2.5M ($0.18/sh). The revenue decline and swing to loss are partially offset by a 39% sequential backlog increase to $31.6M and reaffirmed full-year guidance, but the headline numbers indicate worsening fundamentals.
Key Financial Metrics
Key Facts
- Net sales from continuing operations declined 15% YoY to $34.4M from $40.6M
- Net loss from continuing ops was $0.5M ($0.04/sh) vs net income of $2.5M ($0.18/sh) a year ago
- Order backlog increased 39% sequentially to $31.6M as of March 31, 2026
- Full-year FY2026 guidance reaffirmed: net sales $160M-$170M, EPS $0.48-$0.62
- Q3 FY2026 guidance: net sales $42M-$46M, EPS $0.17-$0.21
- Gross margin compressed to 32.5% from 34.4% a year ago
- Operating expenses rose 8% to $13.2M, 38.5% of sales
- Share buybacks totaled $7.3M in Q2; $15.9M remaining on authorization
Financial Impact
Revenue decline of $6.2M vs prior year; net loss of $0.5M vs prior-year income of $2.5M; EPS swung from $0.18 profit to $0.04 loss
Risk Factors
- Continued revenue decline if broadband demand does not materialize
- Tariff and supply chain uncertainties may pressure margins further
- High customer concentration and lumpy ordering patterns
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003066 |
| Document: f8k_050626.htm | 0001171843-26-003066 |
| Document: 0001171843-26-003066-index-headers.html | 0001171843-26-003066 |
| Document: 0001171843-26-003066-index.html | 0001171843-26-003066 |
| Document: 0001171843-26-003066.txt | 0001171843-26-003066 |
| 8-K Data (Synthetic) | 0001171843-26-003066 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $29.31 | awaiting T+20 | — | $30.64 (+4.54%) |
Oct 19, 2026 8d ago | SC 13G/A | $30.60 | awaiting T+20 | — | $30.64 (+0.13%) |
Aug 5, 2026 11w ago | 8-K | $26.66 $28.32 | ▼ −6.23% | ▼ −5.63% | $30.64 (−14.93%) |
Aug 5, 2026 11w ago | Press Release | $26.66 $28.32 | ▼ −6.23% | ▼ −5.63% | $30.64 (−14.93%) |
Jul 22, 2026 13w ago | Press Release | $30.50 $27.54 | ▼ −9.70% | ▼ −13.01% | $30.64 (+0.46%) |
May 11, 2026 24w ago | Insider Cluster | $46.73 $39.37 | ▲ +15.75% | ▲ +15.45% | $30.64 (+34.43%) |
May 6, 2026 24w ago | 8-K | $37.49 $45.13 | ▼ −20.38% | ▼ −17.24% | $30.64 (+18.27%) |
May 6, 2026 24w ago | Press Release | $37.49 $45.13 | ▲ +20.38% | ▲ +17.24% | $30.64 (−18.27%) |
US Market Status
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