Clearfield (CLFD) 10-K 29 Nov 23 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2023	Nov. 13, 2023	Mar. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-16106
Entity Registrant Name	CLEARFIELD, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1347235
Entity Address, Address Line One	7050 Winnetka Avenue North
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Brooklyn Park
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55428
City Area Code	763
Local Phone Number	476-6866
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CLFD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 603,165,864
Entity Common Stock, Shares Outstanding (in shares)		15,254,525
Auditor Firm ID	23
Auditor Name	Baker Tilly, US, LLP
Auditor Location	Minneapolis, Minnesota
Entity Central Index Key	0000796505
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2023	Sep. 30, 2022
Current Assets
Cash and cash equivalents	$ 37,827,000	$ 16,650,000
Short-term investments	130,286,000	5,802,000
Accounts receivables, net	28,392,000	53,704,000
Inventories, net	98,055,000	82,208,000
Other current assets	1,695,000	1,758,000
Total current assets	296,255,000	160,122,000
Property, plant and equipment, net	21,527,000	18,229,000
Other Assets
Long-term investments	6,343,000	22,747,000
Goodwill	6,528,000	6,402,000
Intangible assets, net	6,092,000	6,376,000
Right-of-use lease assets	13,861,000	13,256,000
Deferred tax asset	3,039,000	1,414,000
Other	1,872,000	582,000
Total other assets	37,735,000	50,777,000
Total Assets	355,517,000	229,128,000
Current Liabilities
Current portion of lease liability	3,737,000	3,385,000
Debt	2,112,000	0
Accounts payable	8,891,000	24,118,000
Accrued compensation	5,571,000	13,619,000
Accrued expenses	2,404,000	6,181,000
Factoring liability	6,289,000	4,391,000
Total current liabilities	29,004,000	51,694,000
Other Liabilities
Long-term debt	0	18,666,000
Long-term portion of lease liability	10,629,000	10,412,000
Deferred tax liability	721,000	774,000
Total liabilities	40,354,000	81,546,000
Shareholders’ Equity
Preferred stock, $.01 par value; 500,000 shares; no shares issued or outstanding	0	0
Common stock, authorized 50,000,000, $.01 par value; 15,254,725 and 13,818,452 shares issued and outstanding as of September 30, 2023 and 2022, respectively	153,000	138,000
Additional paid-in capital	188,218,000	54,539,000
Accumulated other comprehensive loss	544,000	1,898,000
Retained earnings	127,336,000	94,803,000
Total shareholders’ equity	315,163,000	147,582,000
Total Liabilities and Shareholders’ Equity	$ 355,517,000	$ 229,128,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 2023	Sep. 30, 2022
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	500,000	500,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding (in shares)		0
Common Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares, Issued (in shares)	15,254,725	13,818,452
Common Stock, Shares, Outstanding (in shares)	15,254,725	13,818,452

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Net sales	$ 268,720	$ 270,883	$ 140,755
Cost of sales	183,441	157,936	79,578
Gross profit	85,279	112,947	61,177
Operating expenses
Selling, general and administrative	47,992	49,130	35,943
Income from operations	37,287	63,817	25,234
Net investment income	5,206	328	500
Interest expense	(881)	(311)	0
Income before income taxes	41,612	63,834	25,734
Income tax expense	9,079	14,472	5,407
Net income	$ 32,533	$ 49,362	$ 20,327
Net income per share Basic (in dollars per share)	$ 2.17	$ 3.58	$ 1.48
Basic (in shares)	14,975,972	13,771,665	13,720,699
Diluted (in shares)	15,012,527	13,905,984	13,784,294
Net income per share Diluted (in dollars per share)	$ 2.17	$ 3.55	$ 1.47
Weighted average shares outstanding:
Net income per share Basic (in dollars per share)	$ 2.17	$ 3.58	$ 1.48

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 32,533	$ 49,362	$ 20,327
Other comprehensive income (loss), net of tax
Unrealized gain (loss) on available-for-sale investments	542	(1,590)	0
Unrealized gain on foreign currency translation	812	(308)	0
Total other comprehensive income (loss)	1,354	(1,898)	0
Total comprehensive income	$ 33,887	$ 47,464	$ 20,327

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance as of September 30, 2021 (in shares) at Sep. 30, 2020	13,650
Balance as of September 30, 2021 at Sep. 30, 2020	$ 137	$ 57,503	$ 0	$ 25,114	$ 82,754
Stock-based compensation expense	$ 0	1,280	0	0	1,280
Issuance of common stock under equity compensation plans, net (in shares)	36
Issuance of common stock under equity compensation plans, net	$ 0	0	0	0	0
Issuance of common stock under employee stock purchase plan (in shares)	24
Issuance of common stock under employee stock purchase plan	$ 0	383	0	0	383
Exercise of stock options, net of shares exchanged for payment (in shares)	34
Exercise of stock options, net of shares exchanged for payment	$ 0	(458)	0	0	(458)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)	(12)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants	$ 0	(462)	0	0	(462)
Net income	$ 0	0	0	20,327	20,327
Balance at September 30, 2022 (in shares) at Sep. 30, 2021	13,732
Balance at September 30, 2022 at Sep. 30, 2021	$ 137	58,246	0	45,441	103,824
Stock-based compensation expense	$ 0	2,339	0	0	2,339
Issuance of common stock under equity compensation plans, net (in shares)	26
Issuance of common stock under equity compensation plans, net	$ 0	0	0	0	0
Issuance of common stock under employee stock purchase plan (in shares)	13
Issuance of common stock under employee stock purchase plan	$ 0	544	0	0	544
Exercise of stock options, net of shares exchanged for payment (in shares)	60
Exercise of stock options, net of shares exchanged for payment	$ 1	(5,184)	0	0	(5,183)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)	(13)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants	$ 0	(1,406)	0	0	(1,406)
Other comprehensive loss	0	0	(1,898)	0	(1,898)
Net income	$ 0	0	0	49,362	49,362
Balance at September 30, 2022 (in shares) at Sep. 30, 2022	13,818
Balance at September 30, 2022 at Sep. 30, 2022	$ 138	54,539	(1,898)	94,803	147,582
Stock-based compensation expense	$ 0	3,578	0	0	3,578
Issuance of common stock under equity compensation plans, net (in shares)	49
Issuance of common stock under equity compensation plans, net	$ 0	954	0	0	954
Issuance of common stock under employee stock purchase plan (in shares)	13
Issuance of common stock under employee stock purchase plan	$ 0	611	0	0	611
Exercise of stock options, net of shares exchanged for payment (in shares)	11
Exercise of stock options, net of shares exchanged for payment	$ 0	(491)	0	0	(491)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)	(17)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants	$ 0	(1,220)	0	0	(1,220)
Issuance of common stock, net (in shares)	1,380
Issuance of common stock, net	$ 15	130,247	0	0	130,262
Other comprehensive loss	0	0	1,354	0	1,354
Net income	$ 0	0	0	32,533	32,533
Balance at September 30, 2022 (in shares) at Sep. 30, 2023	15,254
Balance at September 30, 2022 at Sep. 30, 2023	$ 153	$ 188,218	$ (544)	$ 127,336	$ 315,163

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income	$ 32,533	$ 49,362	$ 20,327
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,054	3,426	2,302
Change in allowance for doubtful accounts	0	0	210
Amortization of discount on investments	(3,512)	(42)	(7)
Deferred taxes	(2,114)	(326)	(187)
Stock-based compensation	3,578	2,339	1,280
Changes in operating assets and liabilities, net of acquired amounts:
Accounts receivable	26,277	(24,234)	(9,151)
Inventories, net	(15,083)	(43,744)	(13,116)
Other assets	(1,466)	(282)	(531)
Accounts payable and accrued expenses	(26,257)	14,502	9,776
Net cash provided by operating activities	20,010	1,001	10,903
Cash flows from investing activities
Purchases of property, plant and equipment and intangible assets	(8,384)	(9,148)	(2,046)
Purchases of investments	(210,923)	(248)	(24,809)
Proceeds from sales and maturities of investments	107,060	17,386	13,255
Business acquisition, net of cash acquired	0	(16,187)	0
Net cash used in investing activities	(112,247)	(8,197)	(13,600)
Cash flows from financing activities
Issuance (Repayment) of long-term debt	(16,700)	16,700	0
Proceeds from issuance of common stock under employee stock purchase plan	611	544	384
Repurchase of shares for payment of withholding taxes for vested restricted stock grants	(1,220)	(1,406)	(462)
Withholding related to exercise of stock options	(491)	(5,183)	(458)
Issuance of stock under equity compensation plans	954	0	0
Net proceeds from issuance of common stock	130,262	0	0
Net cash provided by (used in) financing activities	113,416	10,655	(536)
Effect of exchange rates on cash	(2)	(24)	0
Increase (decrease) in cash and cash equivalents	21,177	3,434	(3,233)
Cash and cash equivalents, beginning of year	16,650	13,216	16,450
Cash and cash equivalents, end of year	37,827	16,650	13,216
Supplemental disclosures for cash flow information
Cash paid during the year for income taxes	12,967	13,744	5,505
Cash paid for interest	463	119	0
Non-cash financing activities
Cashless exercise of stock options	$ 566	$ 1,624	$ 1,271

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Summary of Significant Accounting Policies Description of Business: We are engaged in global operations. Our operations currently comprise of two reportable segments: the Clearfield segment, (referred to herein as “Clearfield”) and, since July 26, 2022, the Nestor Cables segment (referred to herein as “Nestor Cables” or “Nestor”). Prior to July 26, 2022, we were considered to be in a single operating segment structure. The Company’s products include fiber distribution systems, optical components, Outside Plant (“OSP”) cabinets, and fiber and copper cable assemblies that serve the communication service provider markets, including Fiber-to-the-Premises (“FTTP”), large enterprise, and original equipment manufacturer (“OEM”) markets. Principles of Consolidation: Revenue Recognition: Cash and Cash Equivalents: (In thousands) September 30, 2023 September 30, 2022 Cash and cash equivalents: Cash including money market accounts $ 11,360 $ 16,635 Money market funds 26,467 15 Total cash and cash equivalents $ 37,827 $ 16,650 The Company maintains cash balances at multiple financial institutions, and at times, such balances exceeded insured limits. The Company has not experienced any losses in such accounts. Investments: Foreign Currency Translation: Comprehensive Income (Loss): Fair Value of Financial Instruments: Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2023, and 2022 is as follows: Year Ended Balance at Additions Less Balance at End of September 30, 2023 $ 79,000 $ - $ - $ 79,000 September 30, 2022 $ 79,000 $ - $ 79,000 Inventories: September 30, 2023 September 30, 2022 (In thousands) Raw materials $ 73,657 $ 69,142 Work-in-process 1,462 4,592 Finished goods 29,696 10,803 Inventories, gross 104,815 84,537 Inventory reserve (6,760 ) (2,329 ) Inventories, net $ 98,055 $ 82,208 On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. A reserve is established for any identified excess, slow moving, and obsolete inventory through a charge to cost of sales. Inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly or if new products are not accepted by the market. Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 – 15 Leasehold improvements 7-10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: (In thousands) September 30, 2023 September 30, 2022 Manufacturing equipment $ 23,580 $ 18,418 Office equipment 4,560 4,174 Leasehold improvements 6,107 5,000 Vehicles 446 340 Construction in progress 2,447 1,715 Property, plant and equipment, gross 37,140 29,647 Less accumulated depreciation 15,613 11,418 Property, plant and equipment, net $ 21,527 $ 18,229 Depreciation expense for the years ended September 30, 2023, 2022, and 2021 was $4,915,000, $2,647,000, and $1,699,000, respectively. Goodwill and Intangible Assets: If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative test that compares the fair value to its carrying value to determine the amount of any impairment. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2023, the Company has 47 patents granted and multiple pending applications both inside and outside the United States. In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of Telcordia certified outdoor active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 and the acquisition of Nestor Cables as of July 26, 2022. Refer to Note 11 for further information regarding the acquisition of Nestor Cables. Finite life intangible assets as of September 30, 2023, and 2022 are as follows: September 30, 2023 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 September 30, 2022 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,833 $ 1,273 $ 3,559 Certifications 8 584 133 451 Trademarks 8-10 1,306 586 720 Patents 20 931 118 813 Developed Technology 10 295 5 290 Other 5 6 6 - Software 1-3 2,452 1,909 543 Totals $ 10,407 $ 4,030 $ 6,376 Amortization expense related to these assets for the years ended September 30, 2023, 2022, and 2021 was $1,128,000, $766,000, and $602,000, respectively. Our future estimated amortization expense for intangibles is as follows as of September 30, 2023: (In thousands) Estimated amortization FY 2024 $ 1,148 FY 2025 698 FY 2026 563 FY 2027 469 FY 2028 460 Thereafter 2,754 Total $ 6,092 Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2023, and 2022, the Company did not Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods. Share Repurchase Program: not On November 7, 2023, the Company's board of directors increased the share repurchase program to an aggregate of 40 million from the previous $22 million, leaving approximately $32,980,671 available for repurchase. The Company is authorized to issue 50,000,000 shares of common stock at $ .01 none Research and Development Costs Advertising Costs Net Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2023, 2022, and 2021 were as follows: Year ended September 30, ( In thousands except share data 2023 2022 2021 Net income $ 32,533 $ 49,362 $ 20,327 Weighted average common shares 14,975,972 13,771,665 13,720,699 Dilutive potential common shares 36,555 134,319 63,593 Weighted average dilutive common shares outstanding 15,012,527 13,905,984 13,784,294 Earnings per share: Basic $ 2.17 $ 3.58 $ 1.48 Diluted $ 2.17 $ 3.55 $ 1.47 There were no Use of Estimates: Reclassification: New Accounting Pronouncements: In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments

Note 2 - Stock Based Compensati

Note 2 - Stock Based Compensation	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 2. Stock Based Compensation Stock-Based Compensation: On February 23, 2023, the Company’s shareholders approved the Clearfield, Inc. 2022 Stock Compensation Plan (the “2022 Plan”). The 2022 Plan became effective on the date of shareholder approval, and no further awards may be made under the Clearfield, Inc. Amended and Restated 2007 Stock Compensation Plan (the “Prior Plan”) following the effective date of the 2022 Plan. The total number of shares of stock reserved and available for distribution under the 2022 Plan upon approval was 1,461,461 shares, which includes the number of shares remaining for grant and delivery under the Prior Plan, plus any shares subject to outstanding awards under the Prior Plan as of the effective date of the 2022 Plan that were forfeited, cancelled, or settled for cash. As of September 30, 2023, $4,445,000 of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a period of approximately 2.9 years. The Company recorded related compensation expense for the years ended September 30, 2023, 2022, and 2021 of $3,578,000, $2,339,000, and $1,280,000, respectively. For the year ended September 30, 2023, $3,407,000 of this expense was included in selling, general and administrative expense and $171,000 was included in cost of sales. For the year ended September 30, 2022, $2,213,000 of this expense was included in selling, general and administrative expense and $126,000 was included in cost of sales. For the year ended September 30, 2021, $1,223,000 of this expense was included in selling, general and administrative expense and $57,000 was included in cost of sales. Stock Options: five three The fair value of stock option awards during the year ended September 30, 2023, 2022, and 2021 was estimated as of the respective grant dates using the assumptions listed below: Year ended September 30, 2023 Year ended September 30, 2022 Year ended September 30, 2021 Dividend yield 0 % 0 % 0 % Weighted average expected volatility 63.14 % 52.02 % 46.90 % Weighted average risk-free interest rate 3.75 % 0.97 % 0.24 % Weighted average expected life 5 years 5 years 5 years Vesting period 3 years 3 years 3 years The expected stock price volatility is based on the historical volatility of the Company’s stock for a period approximating the expected life. The expected life represents the period of time that options are expected to be outstanding after their grant date. The risk-free interest rate reflects the interest rate at grant date on zero-coupon U.S. governmental bonds having a remaining life similar to the expected option term. Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three five six Option transactions under the 2022 Plan during the year ended September 30, 2023, and under the Prior Plan for the years ended September 30, 2022 and 2021 are summarized as follows: Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2020 337,100 $ 12.48 Granted 105,089 23.74 $ 8.14 Exercised (101,966 ) 12.47 Forfeited and expired (38,709 ) 13.68 Outstanding as of September 30, 2021 301,514 $ 16.25 Granted 62,730 66.48 $ 25.54 Exercised (125,651 ) 12.92 Forfeited and expired (2,084 ) 19.94 Outstanding as of September 30, 2022 236,509 $ 31.30 Granted 40,266 64.38 $ 30.83 Exercised (21,630 ) 26.16 Forfeited and expired (1,021 ) 18.18 Outstanding as of September 30, 2023 254,124 $ 37.04 The following table summarizes information concerning options exercisable under the 2022 Plan and the Prior Plan as of the years ended September 30, 2023, 2022 and 2021: As of Year Ended Exercisable Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2023 97,056 2.28 years $ 28.13 $ 2,731 September 30, 2022 39,276 2.78 years $ 20.26 $ 3,314 September 30, 2021 51,201 2.29 years $ 12.28 $ 1,632 The following table summarizes information concerning options currently outstanding at: As of Year Ended Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2023 254,124 2.72 years $ 37.04 $ 9,413 September 30, 2022 236,509 3.30 years $ 31.30 $ 17,343 September 30, 2021 301,514 3.22 years $ 16.25 $ 8,412 Restricted Stock: one ten Restricted stock transactions during the years ended September 30, 2023, 2022, and 2021 are summarized as follows: Number of shares Weighted average grant date fair value Unvested shares as of September 30, 2020 109,070 $ 12.98 Granted 39,807 24.20 Vested (35,840 ) 12.48 Forfeited (4,198 ) 15.45 Unvested shares as of September 30, 2021 108,839 $ 17.14 Granted 29,512 65.90 Vested (37,094 ) 17.78 Forfeited (2,749 ) 16.84 Unvested share, s as of September 30, 2022 98,508 $ 31.51 Granted 41,492 70.50 Vested (47,869 ) 30.98 Forfeited (1,556 ) 15.61 Unvested shares as of September 30, 2023 90,575 $ 49.92 The fair value of restricted shares vested during the year end September 30, 2023, 2022, and 2021 was $3,141,000, $3,744,000, and $1,364,000 respectively. The Company repurchased a total of 12,862 shares of our common stock at an average price of $62.20 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2023. The Company repurchased a total of 13,292 shares of our common stock at an average price of $105.78 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2022. The Company repurchased a total of 11,754 shares of our common stock at an average price of $39.32 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2021. Bonus Stock: No Employee Stock Purchase Plan:

Note 3 - Investments

Note 3 - Investments	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Investment [Text Block]	Note 3. Investments The Company invests in CDs in amounts that are fully insured by the FDIC and Treasuries with terms of not more than five years, as well as money market funds. During the second quarter of fiscal 2022, the Company sold investments and has reclassified its investment portfolio to available-for-sale, which is reported at fair value. The unrealized gain or loss on investment securities is recorded in other comprehensive income (loss), net of tax. Realized gains and losses on available-for-sale securities are recognized upon sale and are included in net investment income in the consolidated statement of earnings. The Company did not sell investment securities during the years ended September 30, 2023. As of September 30, 2023, available-for-sale investments consist of the following: September 30, 2023 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S. treasury securities $ 122,534 $ - $ 143 $ 122,391 Certificates of deposit 8,014 - 119 7,895 Investment securities – short-term $ 130,548 $ - $ 262 $ 130,286 Long-Term U.S treasury securities $ 6,719 $ - $ 596 $ 6,123 Certificates of deposit 248 - 28 220 Investment securities – long-term $ 6,967 $ - $ 624 $ 6,343 As of September 30, 2022, available-for-sale investments consisted of the following: September 30, 2022 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term Certificates of deposit $ 5,945 $ - $ 143 $ 5,802 Investment securities – short-term $ 5,945 $ - $ 143 $ 5,802 Long-Term U.S treasury securities $ 16,178 $ - $ 1,085 $ 15,093 Certificates of deposit 8,016 - 362 7,654 Investment securities – long-term $ 24,194 $ - $ 1,447 $ 22,747 The Company did not As of September 30, 2023, investments in debt securities in an unrealized loss position were as follows: In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months (In thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S treasury securities $ 112,908 $ 131 $ 15,606 $ 608 Certificates of deposit 245 - 7,870 147 Investment securities $ 113,153 $ 131 $ 23,476 $ 755 As of September 30, 2022, investments in debt securities in an unrealized loss position were as follows: In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months (In thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S treasury securities $ - $ - $ 15,093 $ 1,085 Certificates of deposit 6,345 176 7,111 329 Investment securities $ 6,345 $ 176 $ 22,204 $ 1,414 As of September 30, 2023, there were 42 securities in an unrealized loss position which is due to the securities paying lower interest rates than the market. As of September 30, 2023, there are no

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4. Fair Value Measurements The Company determines the fair value of its assets and liabilities based on the market price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company determines the fair value of Treasuries and CDs based on valuations provided by an external pricing service, which obtains them from a variety of industry standard data providers. The Company’s investments are categorized according to the three-level fair value hierarchy which distinguishes between observable and unobservable inputs, in one of the following levels: Level 1- Quoted prices in active markets for identical assets or liabilities. Level 2- Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3- Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those with fair value measurements that are determined using pricing models, discounted cash flow valuation or similar techniques, as well as significant management judgment or estimation. The following provides information regarding fair value measurements for the Company’s investment securities as of September 30, 2023, according to the three-level fair value hierarchy: Fair Value Measurements as of September 30, 2023 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 26,467 $ 26,467 $ - $ - Total cash equivalents $ 26,467 $ 26,467 $ - $ - Investment securities: Certificates of deposit $ 8,115 $ - $ 8,115 $ - U.S. Treasury securities 128,514 - 128,514 - Total investment securities $ 136,629 $ - $ 136,629 $ - During the year ended September 30, 2023, we owned no Non-financial assets such as equipment and leasehold improvements, goodwill and intangible assets and right-of-use assets for operating leases are subject to non-recurring fair value measurements if they are deemed impaired. We had no re-measurements of non-financial assets to fair value in the years-end September 30, 2023 and 2022. The following provides information regarding fair value measurements for the Company’s investment securities as of September 30, 2022, according to the three-level fair value hierarchy: Fair Value Measurements as of September 30, 2022 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 15 $ 15 $ - $ - Total cash equivalents $ 15 $ 15 $ - $ - Investment securities: Certificates of deposit $ 13,456 $ - $ 13,456 $ - U.S. Treasury securities 15,093 - 15,093 - Total investment securities $ 28,549 $ - $ 28,549 $ -

Note 5 - Other Comprehensive In

Note 5 - Other Comprehensive Income (Loss)	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 5. Other Comprehensive Income (Loss) Changes in components of other comprehensive income (loss), net of tax, are as follows: (In thousands) Available-for-Sale Securities Foreign Currency Translation Accumulated Other Comprehensive Loss Balances at September 30, 2021 $ - $ - $ - Other comprehensive loss for the twelve months ended September 30, 2022 (1,224 ) (674 ) (1,898 ) Balances at September 30, 2022 $ (1,224 ) $ (674 ) $ (1,898 ) Other comprehensive income for the twelve months ended September 30, 2023 542 812 1,354 Balances at September 30, 2023 $ (682 ) $ 138 $ (544 ) The Company did not

Note 6 - Income Taxes

Note 6 - Income Taxes	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 6. Income Taxes Components of income tax expense are as follows for the years ended: September 30, September 30, September 30, ( In thousands 2023 2022 2021 Current: Federal $ 9,449 $ 13,230 $ 5,154 State 1,435 1,532 440 Foreign 144 48 - Current income tax expense 11,028 14,810 5,594 Deferred: Federal (1,751 ) (509 ) (234 ) State (251 ) 6 47 Foreign 53 165 - Deferred income tax expense (1,949 ) (334 ) (187 ) Income tax expense $ 9,079 $ 14,472 $ 5,407 The following is a reconciliation of the federal statutory income tax rate to the effective tax rate as a percent of pre-tax income for the following years ended: September 30, September 30, September 30, 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes 2.8 % 2.1 % 2.2 % Foreign income taxes (0.1 %) 0.4 % - Permanent differences 0.8 % 4.6 % - Research and development credits (1.0 %) (0.5 %) (0.7 %) Excess tax benefits from stock-based compensation (1.7 %) (4.9 %) (1.5 %) Effective Tax rate 21.8 % 22.7 % 21.0 % As of September 30, 2023, and 2022, the current income tax payable was approximately $84,000, and $1,791,000 respectively. Current income tax payable amounts are included in accrued expenses in the Company’s consolidated balance sheets. As of September 30, 2023, and 2022, the Company had no not Significant components of deferred income tax assets and liabilities are as follows at: September 30, September 30, (In thousands) 2023 2022 Inventories $ 2,154 $ 813 R&D expenses 832 - Stock-based compensation 600 416 Accrued expenses and reserves 515 1,020 Unrealized loss on investments 204 365 Net operating loss carry forwards and credits 201 256 Foreign currency translation loss - 180 Total deferred tax asset $ 4,506 $ 3,050 Goodwill (1,123 ) (1,077 ) Property and equipment depreciation (683 ) (1,068 ) Prepaid expenses (193 ) (163 ) Intangibles (153 ) (102 ) Foreign currency translation gain (36 ) - Total deferred tax liability $ (2,188 ) $ (2,410 ) Net deferred tax asset $ 2,318 $ 640 Realization of NOL carryforwards and other deferred tax temporary differences are contingent upon future taxable earnings. The deferred tax assets and deferred tax liabilities are not netted due to being within different tax jurisdictions. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding their recoverability. As of September 30, 2023, and 2022, no valuation allowance was deemed necessary as the Company determined it was more likely than not that the Company’s deferred tax assets will be realized. The Company is required to recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not The Company is subject to income taxes in the U.S. federal and various state and foreign jurisdictions, including Finland. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Clearfield, Inc. is generally subject to U.S. federal examination for all tax years after 2018 2014 2019

Note 7 - Concentrations

Note 7 - Concentrations	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 7. Concentrations Suppliers: Customers: one one two As of September 30, 2023, three one Disaggregation of Revenue The following table presents our domestic and international sales for each of the last three fiscal years: Year Ended September 30, 2023 2022 2021 United States $ 218,835 $ 255,607 $ 131,285 All Other Countries 49,885 15,276 9,470 Total Net Sales $ 268,720 $ 270,883 $ 140,755 The Company sells its products to the Broadband Service Provider marketplace. In addition, the Company provides Legacy services for original equipment manufacturers requiring copper and fiber cable assemblies built to their specification. The percentages of our sales by these markets were as follows for each of the last three fiscal years: Year Ended September 30, 2023 2022 2021 Broadband service providers 97 % 99 % 98 % Other customers 3 % 1 % 2 % Total Net Sales 100 % 100 % 100 % Broadband Service Providers are made up of Community Broadband, which includes local and regional telecom companies, utilities, municipalities and alternative carriers, also referred to as Tier 2 and 3 customers, National Carriers, which includes large national and global wireline and wireless providers also referred to as Tier 1’s, Large Regional Service providers with a national footprint, MSO’s, which include cable television companies, and international customers. Long-lived assets:

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	Note 8. Employee Benefit Plan Clearfield, Inc. maintains a contributory 401(k) profit sharing benefit plan, whereby eligible employees may contribute a portion of their earnings, not to exceed annual amounts allowed under the Internal Revenue Code. The Company matched 100% of the first 3% and 50% of the next 3% of the participant’s eligible compensation that was contributed by the participant. The Company’s contributions under this plan were $1,017,000, $1,129,000, and $915,000 for the years ended September 30, 2023, 2022 and 2021, respectively . Nestor Cables is mandated by the Finnish government to participate in a pension and social expense plan to which Nestor and its employees make contributions. The plan is accounted for as defined contribution plan and Nestor Cables is responsible for an average of 18.3% and 17.4% of employees’ wages for plan years ended September 30, 2023, and 2022, respectively. Nestor’s contributions under this plan were $1,112,000 and $204,000 for the years ended September 30, 2023, and 2022, respectively.

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 9. Leases Clearfield, Inc. leases an 85,000 square foot facility at 7050 Winnetka Avenue North, Brooklyn Park, Minnesota consisting of corporate offices, manufacturing and warehouse space. The lease term is ten In July 2021, Clearfield, Inc. entered into an indirect lease arrangement for an approximately 318,000 square foot manufacturing facility in Tijuana, Mexico. The lease term is for 7 years of which 5 years are mandatory, commencing March 2022. The lease contains written options to renew for two On November 19, 2021, Clearfield, Inc. signed a lease for a 105,000 square foot warehouse in Brooklyn Park, Minnesota. The lease term is five five Nestor Cables leases an approximately 25,000 square foot manufacturing facility in Oulu, Finland, which is utilized for the operations of Nestor Cables. The original lease term ended on October 31, 2022, but auto renews indefinitely until terminated with two years written notice. It is not reasonably certain that the Company will not exercise the termination option. The lease calls for monthly rental payments of approximately $40,000. Rent is increased each year on January 1st based upon the cost-of-living index published by the Finnish government. On May 11, 2023, Nestor Cables signed a lease for an approximately 49,000 square foot manufacturing facility in Tabasalu, Estonia, to be utilized for the operations of Nestor Cables Baltics. The lease is without a fixed term and requires two years’ written notice to terminate the lease. Additionally, the lease grants to Nestor Cables the option to lease an expansion facility that is to be constructed no later than August 31, 2024. The expansion facility will be constructed on the same premises as the existing facility. Once the expansion option is exercised and the expansion facility is made available for use, the lease term of the existing facility will become a minimum of 60 months. The lease calls for monthly rental payments of approximately €20,400 until April 2024 and €25,000 afterwards. Rent is increased each year on May 1st based upon the cost-of-living index published by the Estonian government and capped at 5%. Right-of-use lease assets and lease liabilities are recognized as of the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods we are reasonably certain to exercise. Our leases do not contain any material residual value guarantees or material restrictive covenants. Operating lease expense included within cost of sales and selling, general and administrative expense was as follows: (In thousands) Operating lease expense under ASC842 , Leases, Year ended September 30, 2023 Year ended September 30, 2022 Year ended September 30, 2021 Cost of sales $ 4,067 $ 2,534 $ 999 Selling, general and administrative 244 277 217 Total lease expense $ 4,311 $ 2,801 $ 1,216 Our future lease obligations for leases that have commenced were as follows as of September 30, 2023: (In thousands) Operating Leases FY 2024 $ 4,064 FY 2025 3,921 FY 2026 3,242 FY 2027 1,572 FY 2028 384 Thereafter 2,626 Total lease payments 15,809 Less: Interest (1,443 ) Present value of lease liabilities $ 14,366 As of September 30, 2023, the weighted average term and weighted average discount rate for our leases were 5.16 years and 3.59%, respectively. As of September 30, 2022, the weighted average term and weighted average discount rate for our leases were 4.04 years and 3.22%, respectively. As of September 30, 2021, the weighted average term and weighted average discount rate for our leases were 3.09 years and 3.41%, respectively. For the years ended September 30, 2023, 2022, and 2021 the operating cash outflows from our leases were $3,954,000, $2,064,000, and $1,290,000, respectively.

Note 10 - Debt

Note 10 - Debt	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10. Debt On April 27, 2022, the Company entered into a loan agreement and a security agreement with a bank that provides the Company with a $40,000,000 revolving line of credit that is secured by certain of the Company’s U.S. assets. The line of credit matures on April 27, 2025, and borrowed amounts will bear interest at a variable rate of the CME Group one-month term Secured Overnight Financing Rate (“SOFR”) plus 1.85%, but not less than 1.80% per annum. As of September 30, 2023, the interest rate was 7.18%. The loan agreement and the security agreement contains customary affirmative and negative covenants and requirements relating to the Company and its operations, including a requirement that the Company maintain a debt service coverage ratio of not less than 1.20 to 1 as of the end of each fiscal year for the fiscal year then ended and maintain a debt to cash flow ratio of not greater than 2 to 1 measured as of the end of each of the Company’s fiscal quarters for the trailing twelve (12) month period. Debt service coverage ratio is the ratio of Cash Available for Debt Service to Debt Service, each as defined in the loan agreement. Debt and Cash Flow are also as defined in the loan agreement for the purposes of the debt to cash flow ratio covenant. As of September 30, 2023, the Company had no borrowings against this line of credit. As of September 30, 2022, the Company had borrowed $16,700,000 against the line of credit. As of September 30, 2023, and 2022, the Company was in compliance with all covenants. The line of credit is collateralized by Clearfield, Inc’s assets of $335,412,000 as of September 30, 2023. During March 2021, Nestor Cables entered into a loan agreement, providing €2 million senior loan with a term of three

Note 11 - Acquisition of Nestor

Note 11 - Acquisition of Nestor Cables	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 11. Acquisition of Nestor Cables On July 26, 2022, the Company, through its newly formed wholly owned subsidiary, Clearfield Finland Oy, acquired 100% of the share capital of Nestor Cables Oy, a leading developer and manufacturer of fiber optic cable solutions located in Finland, upon the terms and conditions contained in a Share Sale and Purchase Agreement entered into on May 17, 2022. The total purchase price and the acquisition date fair value of the consideration transferred for the shares totaled € 7.9 8.0 7.6 7.8 The following table summarizes the estimated fair value of the assets and liabilities acquired as of July 26, 2022: (in thousands Cash $ 72 Accounts receivables 10,562 Inventories 11,377 Other current assets 173 Total current assets 22,184 Property and equipment 7,689 Intangibles assets 1,840 Right of use lease asset 1,297 Goodwill 1,762 Other 55 Total assets $ 34,827 Accounts payable 5,839 Accrued compensation 1,430 Accrued expenses 1,916 Deferred tax liability 621 Lease liability 1,297 Factoring liability 5,849 Long term debt 2,045 Total liabilities $ 18,997 Net assets acquired $ 15,830 The Nestor Cablesacquisition resulted in approximately $1,700,000 of goodwill due to intangible assets not qualifying for separate recognition as well as expected synergies. The goodwill created from the acquisition of Nestor Cables is expected to be deductible for tax purposes. Nestor Cables acquired accounts receivable balance is the gross amount which is expected to be collected, which approximates fair value. As of the acquisition date no allowance for uncollectible amounts is deemed necessary. The intangible assets acquired include customer relationships, developed technology and trademarks. The remaining weighted average useful life of intangible assets acquired is 12.82 years as of the acquisition date. Refer to Note 1 for further detail. The Company incurred approximately $1,600,000 in legal, professional, and other costs related to the acquisition which were accounted for as selling, general and administrative expenses when incurred. Refer to Note 12-Segment Reporting for the operating results of Nestor Cables from the date of acquisition through September 30, 2022. The Company has a fiscal year end of September 30 and reports its financial results in accordance with U.S. GAAP. Nestor Cables has historically had a fiscal year end of December 31 and reported its results under Finnish Accounting Standards. Accordingly, it is impracticable to disclose the revenue and earnings of the combined entity as though the business combination occurred as of the beginning of the comparable prior year periods due to the differing basis of accounting and reporting periods of the entities requiring assumptions about management’s intent that cannot be independently substantiated. In addition, these disclosures would require significant estimates that are not possible to reliably establish in order to distinguish objective information that provides evidence of circumstances that existed on the dates at which those amounts would have been recognized, measured and disclosed and would have been available when the financial statements for that prior period were issued.

Note 12 - Segment Reporting

Note 12 - Segment Reporting	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 12. Segment Reporting The Company’s reportable segments are based on the Company’s method of internal reporting. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. The internal reporting of these operating segments is defined based, in part, on the reporting and review process used by the Company’s Chief Executive Officer. Upon closing of the acquisition of Nestor Cables, the Company reassessed its operating segments as defined under ASC 280, Segment Reporting For the year ended September 30, 2023, the Company has two Financial results for the reportable segments are prepared on a basis consistent with the internal disaggregation of financial information to assist the CODM in making internal operating decisions. For consolidated reporting, the Company eliminates transactions between reportable segments. The following table summarizes the amounts between the two Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 225,722 $ 42,998 $ - $ 268,720 Revenue from internal customers (Clearfield) - 5,408 (5,408 ) - Net investment income 5,315 7 (116 ) 5,206 Interest Expense 170 827 (116 ) 881 Depreciation and amortization 4.598 1,456 - 6,054 Stock based compensation 3,528 50 - 3,578 Income taxes 8,883 196 - 9,079 Net Income 32,834 719 (1,020 ) 32,533 Capital Expenditures 6,759 925 - 7,684 The following table summarizes the amounts between the two Year ended September 30, 2022 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 263,822 $ 7,061 $ - $ 270,883 Revenue from internal customers (Clearfield) - 182 (182 ) - Net investment income 327 1 - 328 Interest Expense 141 170 - 311 Depreciation and amortization 3,187 239 - 3,426 Stock based compensation 2,339 - - 2,339 Income taxes 14,258 214 - 14,472 Net Income (loss) 49,771 (389 ) (20 ) 49,362 Capital Expenditures 8,487 13 - 8,500 The following table summarizes the amounts between the two Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,819 $ - $ 6,528 Total assets $ 335,412 $ 43,550 $ (23,445 ) $ 355,517 Year ended September 30, 2022 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,693 $ - $ 6,402 Total assets $ 214,785 $ 31,023 $ (16,680 ) $ 229,128

Note 13 - Financing Receivables

Note 13 - Financing Receivables	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Financing Receivables [Text Block]	Note 13. Financing Receivables Nestor Cables factors certain of its accounts receivable, with recourse provisions that are accounted for as a secured borrowing. Nestor Cables has a total factoring liability of $6,289,000and $4,391,000 as of September 30, 2023, and 2022, respectively. Nestor receives cash for 80% of the receivable balance from the bank initially and the remaining 20% when the invoice is paid up to a limit of €12.5 million ($13.2 million). Due to the conditions mentioned above, these transactions do not qualify as a sale and are thus accounted for as secured borrowing. The contractual interest rate on Nestor’s factoring arrangements is the 3-month Euribor rate plus a range of .75% to 1.3%. The average interest rate for the year ended September 30, 2023, and 2022, was 3.89% and 2.14%, respectively. These agreements are indefinite with a termination notice period ranging from zero one

Insider Trading Arrangement

Insider Trading Arrangement	12 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Material Terms of Trading Arrangement [Text Block]	OTHER INFORMATION During the quarter ended September 30, 2023, none 408(a)

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation:
Revenue [Policy Text Block]	Revenue Recognition:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: (In thousands) September 30, 2023 September 30, 2022 Cash and cash equivalents: Cash including money market accounts $ 11,360 $ 16,635 Money market funds 26,467 15 Total cash and cash equivalents $ 37,827 $ 16,650 The Company maintains cash balances at multiple financial institutions, and at times, such balances exceeded insured limits. The Company has not experienced any losses in such accounts.
Investment, Policy [Policy Text Block]	Investments:
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation:
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss):
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments:
Accounts Receivable [Policy Text Block]	Accounts Receivable: The allowance for doubtful accounts activity for the years ended September 30, 2023, and 2022 is as follows: Year Ended Balance at Additions Less Balance at End of September 30, 2023 $ 79,000 $ - $ - $ 79,000 September 30, 2022 $ 79,000 $ - $ 79,000
Inventory, Policy [Policy Text Block]	Inventories: September 30, 2023 September 30, 2022 (In thousands) Raw materials $ 73,657 $ 69,142 Work-in-process 1,462 4,592 Finished goods 29,696 10,803 Inventories, gross 104,815 84,537 Inventory reserve (6,760 ) (2,329 ) Inventories, net $ 98,055 $ 82,208 On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. A reserve is established for any identified excess, slow moving, and obsolete inventory through a charge to cost of sales. Inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly or if new products are not accepted by the market.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 – 15 Leasehold improvements 7-10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: (In thousands) September 30, 2023 September 30, 2022 Manufacturing equipment $ 23,580 $ 18,418 Office equipment 4,560 4,174 Leasehold improvements 6,107 5,000 Vehicles 446 340 Construction in progress 2,447 1,715 Property, plant and equipment, gross 37,140 29,647 Less accumulated depreciation 15,613 11,418 Property, plant and equipment, net $ 21,527 $ 18,229 Depreciation expense for the years ended September 30, 2023, 2022, and 2021 was $4,915,000, $2,647,000, and $1,699,000, respectively.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Intangible Assets: If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative test that compares the fair value to its carrying value to determine the amount of any impairment. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit's recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2023, the Company has 47 patents granted and multiple pending applications both inside and outside the United States. In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of Telcordia certified outdoor active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 and the acquisition of Nestor Cables as of July 26, 2022. Refer to Note 11 for further information regarding the acquisition of Nestor Cables. Finite life intangible assets as of September 30, 2023, and 2022 are as follows: September 30, 2023 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 September 30, 2022 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,833 $ 1,273 $ 3,559 Certifications 8 584 133 451 Trademarks 8-10 1,306 586 720 Patents 20 931 118 813 Developed Technology 10 295 5 290 Other 5 6 6 - Software 1-3 2,452 1,909 543 Totals $ 10,407 $ 4,030 $ 6,376 Amortization expense related to these assets for the years ended September 30, 2023, 2022, and 2021 was $1,128,000, $766,000, and $602,000, respectively. Our future estimated amortization expense for intangibles is as follows as of September 30, 2023: (In thousands) Estimated amortization FY 2024 $ 1,148 FY 2025 698 FY 2026 563 FY 2027 469 FY 2028 460 Thereafter 2,754 Total $ 6,092
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No
Income Tax, Policy [Policy Text Block]	Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2023, and 2022, the Company did not
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods.
Share Repurchase Program [Policy Text Block]	Share Repurchase Program: not On November 7, 2023, the Company's board of directors increased the share repurchase program to an aggregate of 40 million from the previous $22 million, leaving approximately $32,980,671 available for repurchase. The Company is authorized to issue 50,000,000 shares of common stock at $ .01 none
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs
Advertising Cost [Policy Text Block]	Advertising Costs
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2023, 2022, and 2021 were as follows: Year ended September 30, ( In thousands except share data 2023 2022 2021 Net income $ 32,533 $ 49,362 $ 20,327 Weighted average common shares 14,975,972 13,771,665 13,720,699 Dilutive potential common shares 36,555 134,319 63,593 Weighted average dilutive common shares outstanding 15,012,527 13,905,984 13,784,294 Earnings per share: Basic $ 2.17 $ 3.58 $ 1.48 Diluted $ 2.17 $ 3.55 $ 1.47 There were no
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification:
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements: In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	(In thousands) September 30, 2023 September 30, 2022 Cash and cash equivalents: Cash including money market accounts $ 11,360 $ 16,635 Money market funds 26,467 15 Total cash and cash equivalents $ 37,827 $ 16,650
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Year Ended Balance at Additions Less Balance at End of September 30, 2023 $ 79,000 $ - $ - $ 79,000 September 30, 2022 $ 79,000 $ - $ 79,000
Schedule of Inventory, Current [Table Text Block]	September 30, 2023 September 30, 2022 (In thousands) Raw materials $ 73,657 $ 69,142 Work-in-process 1,462 4,592 Finished goods 29,696 10,803 Inventories, gross 104,815 84,537 Inventory reserve (6,760 ) (2,329 ) Inventories, net $ 98,055 $ 82,208
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2023 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 September 30, 2022 (In thousands) Useful Gross Carrying Accumulated Net Book Value Customer relationships 15 $ 4,833 $ 1,273 $ 3,559 Certifications 8 584 133 451 Trademarks 8-10 1,306 586 720 Patents 20 931 118 813 Developed Technology 10 295 5 290 Other 5 6 6 - Software 1-3 2,452 1,909 543 Totals $ 10,407 $ 4,030 $ 6,376
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) Estimated amortization FY 2024 $ 1,148 FY 2025 698 FY 2026 563 FY 2027 469 FY 2028 460 Thereafter 2,754 Total $ 6,092
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, ( In thousands except share data 2023 2022 2021 Net income $ 32,533 $ 49,362 $ 20,327 Weighted average common shares 14,975,972 13,771,665 13,720,699 Dilutive potential common shares 36,555 134,319 63,593 Weighted average dilutive common shares outstanding 15,012,527 13,905,984 13,784,294 Earnings per share: Basic $ 2.17 $ 3.58 $ 1.48 Diluted $ 2.17 $ 3.55 $ 1.47
Useful Lives [Member]
Notes Tables
Property, Plant and Equipment [Table Text Block]	Years Equipment 3 – 15 Leasehold improvements 7-10 or life of lease Vehicles 3 (In thousands) September 30, 2023 September 30, 2022 Manufacturing equipment $ 23,580 $ 18,418 Office equipment 4,560 4,174 Leasehold improvements 6,107 5,000 Vehicles 446 340 Construction in progress 2,447 1,715 Property, plant and equipment, gross 37,140 29,647 Less accumulated depreciation 15,613 11,418 Property, plant and equipment, net $ 21,527 $ 18,229

Note 2 - Stock Based Compensa_2

Note 2 - Stock Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended September 30, 2023 Year ended September 30, 2022 Year ended September 30, 2021 Dividend yield 0 % 0 % 0 % Weighted average expected volatility 63.14 % 52.02 % 46.90 % Weighted average risk-free interest rate 3.75 % 0.97 % 0.24 % Weighted average expected life 5 years 5 years 5 years Vesting period 3 years 3 years 3 years
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2020 337,100 $ 12.48 Granted 105,089 23.74 $ 8.14 Exercised (101,966 ) 12.47 Forfeited and expired (38,709 ) 13.68 Outstanding as of September 30, 2021 301,514 $ 16.25 Granted 62,730 66.48 $ 25.54 Exercised (125,651 ) 12.92 Forfeited and expired (2,084 ) 19.94 Outstanding as of September 30, 2022 236,509 $ 31.30 Granted 40,266 64.38 $ 30.83 Exercised (21,630 ) 26.16 Forfeited and expired (1,021 ) 18.18 Outstanding as of September 30, 2023 254,124 $ 37.04
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	As of Year Ended Exercisable Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2023 97,056 2.28 years $ 28.13 $ 2,731 September 30, 2022 39,276 2.78 years $ 20.26 $ 3,314 September 30, 2021 51,201 2.29 years $ 12.28 $ 1,632
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	As of Year Ended Number outstanding Weighted average remaining contractual life Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2023 254,124 2.72 years $ 37.04 $ 9,413 September 30, 2022 236,509 3.30 years $ 31.30 $ 17,343 September 30, 2021 301,514 3.22 years $ 16.25 $ 8,412
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Number of shares Weighted average grant date fair value Unvested shares as of September 30, 2020 109,070 $ 12.98 Granted 39,807 24.20 Vested (35,840 ) 12.48 Forfeited (4,198 ) 15.45 Unvested shares as of September 30, 2021 108,839 $ 17.14 Granted 29,512 65.90 Vested (37,094 ) 17.78 Forfeited (2,749 ) 16.84 Unvested share, s as of September 30, 2022 98,508 $ 31.51 Granted 41,492 70.50 Vested (47,869 ) 30.98 Forfeited (1,556 ) 15.61 Unvested shares as of September 30, 2023 90,575 $ 49.92

Note 3 - Investments (Tables)

Note 3 - Investments (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	September 30, 2023 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S. treasury securities $ 122,534 $ - $ 143 $ 122,391 Certificates of deposit 8,014 - 119 7,895 Investment securities – short-term $ 130,548 $ - $ 262 $ 130,286 Long-Term U.S treasury securities $ 6,719 $ - $ 596 $ 6,123 Certificates of deposit 248 - 28 220 Investment securities – long-term $ 6,967 $ - $ 624 $ 6,343 September 30, 2022 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term Certificates of deposit $ 5,945 $ - $ 143 $ 5,802 Investment securities – short-term $ 5,945 $ - $ 143 $ 5,802 Long-Term U.S treasury securities $ 16,178 $ - $ 1,085 $ 15,093 Certificates of deposit 8,016 - 362 7,654 Investment securities – long-term $ 24,194 $ - $ 1,447 $ 22,747
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months (In thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S treasury securities $ 112,908 $ 131 $ 15,606 $ 608 Certificates of deposit 245 - 7,870 147 Investment securities $ 113,153 $ 131 $ 23,476 $ 755 In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months (In thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S treasury securities $ - $ - $ 15,093 $ 1,085 Certificates of deposit 6,345 176 7,111 329 Investment securities $ 6,345 $ 176 $ 22,204 $ 1,414

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value Measurements as of September 30, 2023 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 26,467 $ 26,467 $ - $ - Total cash equivalents $ 26,467 $ 26,467 $ - $ - Investment securities: Certificates of deposit $ 8,115 $ - $ 8,115 $ - U.S. Treasury securities 128,514 - 128,514 - Total investment securities $ 136,629 $ - $ 136,629 $ - Fair Value Measurements as of September 30, 2022 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 15 $ 15 $ - $ - Total cash equivalents $ 15 $ 15 $ - $ - Investment securities: Certificates of deposit $ 13,456 $ - $ 13,456 $ - U.S. Treasury securities 15,093 - 15,093 - Total investment securities $ 28,549 $ - $ 28,549 $ -

Note 5 - Other Comprehensive _2

Note 5 - Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	(In thousands) Available-for-Sale Securities Foreign Currency Translation Accumulated Other Comprehensive Loss Balances at September 30, 2021 $ - $ - $ - Other comprehensive loss for the twelve months ended September 30, 2022 (1,224 ) (674 ) (1,898 ) Balances at September 30, 2022 $ (1,224 ) $ (674 ) $ (1,898 ) Other comprehensive income for the twelve months ended September 30, 2023 542 812 1,354 Balances at September 30, 2023 $ (682 ) $ 138 $ (544 )

Note 6 - Income Taxes (Tables)

Note 6 - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, ( In thousands 2023 2022 2021 Current: Federal $ 9,449 $ 13,230 $ 5,154 State 1,435 1,532 440 Foreign 144 48 - Current income tax expense 11,028 14,810 5,594 Deferred: Federal (1,751 ) (509 ) (234 ) State (251 ) 6 47 Foreign 53 165 - Deferred income tax expense (1,949 ) (334 ) (187 ) Income tax expense $ 9,079 $ 14,472 $ 5,407
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	September 30, September 30, September 30, 2023 2022 2021 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes 2.8 % 2.1 % 2.2 % Foreign income taxes (0.1 %) 0.4 % - Permanent differences 0.8 % 4.6 % - Research and development credits (1.0 %) (0.5 %) (0.7 %) Excess tax benefits from stock-based compensation (1.7 %) (4.9 %) (1.5 %) Effective Tax rate 21.8 % 22.7 % 21.0 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, (In thousands) 2023 2022 Inventories $ 2,154 $ 813 R&D expenses 832 - Stock-based compensation 600 416 Accrued expenses and reserves 515 1,020 Unrealized loss on investments 204 365 Net operating loss carry forwards and credits 201 256 Foreign currency translation loss - 180 Total deferred tax asset $ 4,506 $ 3,050 Goodwill (1,123 ) (1,077 ) Property and equipment depreciation (683 ) (1,068 ) Prepaid expenses (193 ) (163 ) Intangibles (153 ) (102 ) Foreign currency translation gain (36 ) - Total deferred tax liability $ (2,188 ) $ (2,410 ) Net deferred tax asset $ 2,318 $ 640

Note 7 - Concentrations (Tables

Note 7 - Concentrations (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended September 30, 2023 2022 2021 United States $ 218,835 $ 255,607 $ 131,285 All Other Countries 49,885 15,276 9,470 Total Net Sales $ 268,720 $ 270,883 $ 140,755 Year Ended September 30, 2023 2022 2021 Broadband service providers 97 % 99 % 98 % Other customers 3 % 1 % 2 % Total Net Sales 100 % 100 % 100 %

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Lessee, Operating Lease Expense [Table Text Block]	(In thousands) Operating lease expense under ASC842 , Leases, Year ended September 30, 2023 Year ended September 30, 2022 Year ended September 30, 2021 Cost of sales $ 4,067 $ 2,534 $ 999 Selling, general and administrative 244 277 217 Total lease expense $ 4,311 $ 2,801 $ 1,216
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	(In thousands) Operating Leases FY 2024 $ 4,064 FY 2025 3,921 FY 2026 3,242 FY 2027 1,572 FY 2028 384 Thereafter 2,626 Total lease payments 15,809 Less: Interest (1,443 ) Present value of lease liabilities $ 14,366

Note 11 - Acquisition of Nest_2

Note 11 - Acquisition of Nestor Cables (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands Cash $ 72 Accounts receivables 10,562 Inventories 11,377 Other current assets 173 Total current assets 22,184 Property and equipment 7,689 Intangibles assets 1,840 Right of use lease asset 1,297 Goodwill 1,762 Other 55 Total assets $ 34,827 Accounts payable 5,839 Accrued compensation 1,430 Accrued expenses 1,916 Deferred tax liability 621 Lease liability 1,297 Factoring liability 5,849 Long term debt 2,045 Total liabilities $ 18,997 Net assets acquired $ 15,830

Note 12 - Segment Reporting (Ta

Note 12 - Segment Reporting (Tables)	12 Months Ended
	Sep. 30, 2023
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 225,722 $ 42,998 $ - $ 268,720 Revenue from internal customers (Clearfield) - 5,408 (5,408 ) - Net investment income 5,315 7 (116 ) 5,206 Interest Expense 170 827 (116 ) 881 Depreciation and amortization 4.598 1,456 - 6,054 Stock based compensation 3,528 50 - 3,578 Income taxes 8,883 196 - 9,079 Net Income 32,834 719 (1,020 ) 32,533 Capital Expenditures 6,759 925 - 7,684 Year ended September 30, 2022 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 263,822 $ 7,061 $ - $ 270,883 Revenue from internal customers (Clearfield) - 182 (182 ) - Net investment income 327 1 - 328 Interest Expense 141 170 - 311 Depreciation and amortization 3,187 239 - 3,426 Stock based compensation 2,339 - - 2,339 Income taxes 14,258 214 - 14,472 Net Income (loss) 49,771 (389 ) (20 ) 49,362 Capital Expenditures 8,487 13 - 8,500
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,819 $ - $ 6,528 Total assets $ 335,412 $ 43,550 $ (23,445 ) $ 355,517 Year ended September 30, 2022 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,693 $ - $ 6,402 Total assets $ 214,785 $ 31,023 $ (16,680 ) $ 229,128

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual)		12 Months Ended
	Jan. 27, 2022 USD ($)	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) shares	Nov. 07, 2023 USD ($)	Apr. 25, 2017 USD ($)
Depreciation		$ 4,915,000	$ 2,647,000	$ 1,699,000
Goodwill, Impairment Loss		$ 0	0	0
Number of Patents Granted		47
Amortization of Intangible Assets		$ 1,128,000	766,000	602,000
Impairment, Long-Lived Asset, Held-for-Use		0	0	$ 0
Unrecognized Tax Benefits, Ending Balance		0	0
Stock Repurchase Program, Increase in Authorized Amount	$ 10,000,000
Stock Repurchase Program, Authorized Amount	$ 22,000,000	$ 22,000,000	$ 22,000,000			$ 12,000,000
Stock Repurchased, Cumulative | shares		565,590	565,590
Stock Repurchased, Value, Cumulative		$ 7,019,000	$ 7,019,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 14,981,000	$ 14,981,000
Stock Repurchased During Period, Shares (in shares) | shares		12,862	13,292	11,754
Common Stock, Shares Authorized (in shares) | shares		50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares		$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares) | shares		500,000	500,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | shares			0
Preferred Stock, Shares Issued (in shares) | shares		0	0
Research and Development Expense		$ 3,115,000	$ 0	$ 243,000
Advertising Expense		$ 609,000	$ 537,000	$ 436,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares		0	0	0
Undesignated Shares [Member]
Preferred Stock, Shares Authorized (in shares) | shares		5,000,000	5,000,000
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares) | shares		500,000	500,000
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | shares		0
Preferred Stock, Shares Issued (in shares) | shares		0
Subsequent Event [Member]
Stock Repurchase Program, Authorized Amount					$ 40,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount					$ 32,980,671
Share Repurchase Program [Member]
Stock Repurchased During Period, Shares (in shares) | shares		0
Patents [Member]
Finite-Lived Intangible Asset, Useful Life		20 years	20 years
Patents [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life		20 years

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Cash and cash equivalents	$ 37,827	$ 16,650
Cash Including Money Market Accounts [Member]
Cash and cash equivalents	11,360	16,635
Money Market Funds [Member]
Cash and cash equivalents	$ 26,467	$ 15

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Balance at Beginning of Year	$ 79,000	$ 79,000
Additions Charged to Costs and Expenses	0
Less Write-offs	0	0
Balance at End of Year	$ 79,000	$ 79,000

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Raw materials	$ 73,657	$ 69,142
Work-in-process	1,462	4,592
Finished goods	29,696	10,803
Inventories, gross	104,815	84,537
Inventory reserve	(6,760)	(2,329)
Inventories, net	$ 98,055	$ 82,208

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Fixed Assets	$ 37,140	$ 29,647
Less accumulated depreciation	15,613	11,418
Property, plant and equipment, net	$ 21,527	18,229
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Property, plant and equipment useful life (Year)	3 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Property, plant and equipment useful life (Year)	15 years
Machinery and Equipment [Member]
Fixed Assets	$ 23,580	18,418
Office Equipment [Member]
Fixed Assets	4,560	4,174
Leasehold Improvements [Member]
Fixed Assets	$ 6,107	5,000
Vehicles [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Fixed Assets	$ 446	340
Property, plant and equipment useful life (Year)	3 years
Construction in Progress [Member]
Fixed Assets	$ 2,447	$ 1,715

Note 1 - Summary of Significa_8

Note 1 - Summary of Significant Accounting Policies - Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Gross carrying amount	$ 10,860	$ 10,407
Accumulated amortization	4,768	4,030
Intangible Assets, Net	$ 6,092	$ 6,376
Customer Relationships [Member]
Useful life (Year)	15 years	15 years
Gross carrying amount	$ 4,894	$ 4,833
Accumulated amortization	1,582	1,273
Intangible Assets, Net	$ 3,312	$ 3,559
Finite-Lived Intangible Asset, Useful Life	15 years	15 years
Certification Marks [Member]
Useful life (Year)	8 years	8 years
Gross carrying amount	$ 584	$ 584
Accumulated amortization	267	133
Intangible Assets, Net	$ 317	$ 451
Finite-Lived Intangible Asset, Useful Life	8 years	8 years
Trademarks [Member]
Gross carrying amount	$ 1,333	$ 1,306
Accumulated amortization	700	586
Intangible Assets, Net	$ 633	$ 720
Trademarks [Member] | Minimum [Member]
Useful life (Year)	8 years	8 years
Finite-Lived Intangible Asset, Useful Life	8 years	8 years
Trademarks [Member] | Maximum [Member]
Useful life (Year)	10 years	10 years
Finite-Lived Intangible Asset, Useful Life	10 years	10 years
Patents [Member]
Useful life (Year)	20 years	20 years
Gross carrying amount	$ 1,119	$ 931
Accumulated amortization	165	118
Intangible Assets, Net	$ 954	$ 813
Finite-Lived Intangible Asset, Useful Life	20 years	20 years
Patents [Member] | Maximum [Member]
Useful life (Year)	20 years
Finite-Lived Intangible Asset, Useful Life	20 years
Developed Technology Rights [Member]
Useful life (Year)	10 years	10 years
Gross carrying amount	$ 311	$ 295
Accumulated amortization	22	5
Intangible Assets, Net	$ 289	$ 290
Finite-Lived Intangible Asset, Useful Life	10 years	10 years
Other Intangible Assets [Member]
Useful life (Year)	5 years	5 years
Gross carrying amount	$ 6	$ 6
Accumulated amortization	6	6
Intangible Assets, Net	$ 0	$ 0
Finite-Lived Intangible Asset, Useful Life	5 years	5 years
Computer Software, Intangible Asset [Member]
Gross carrying amount	$ 2,613	$ 2,452
Accumulated amortization	2,026	1,909
Intangible Assets, Net	$ 587	$ 543
Computer Software, Intangible Asset [Member] | Minimum [Member]
Useful life (Year)	1 year	1 year
Finite-Lived Intangible Asset, Useful Life	1 year	1 year
Computer Software, Intangible Asset [Member] | Maximum [Member]
Useful life (Year)	3 years	3 years
Finite-Lived Intangible Asset, Useful Life	3 years	3 years

Note 1 - Summary of Significa_9

Note 1 - Summary of Significant Accounting Policies - Future Estimated Amortization Expense for Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
FY 2024	$ 1,148
FY 2025	698
FY 2026	563
FY 2027	469
FY 2028	460
Thereafter	2,754
Total	$ 6,092	$ 6,376

Note 1 - Summary of Signific_10

Note 1 - Summary of Significant Accounting Policies - Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Net income	$ 32,533	$ 49,362	$ 20,327
Weighted average common shares (in shares)	14,975,972	13,771,665	13,720,699
Dilutive potential common shares (in shares)	36,555	134,319	63,593
Weighted average dilutive common shares outstanding (in shares)	15,012,527	13,905,984	13,784,294
Earnings per share:
Basic (in dollars per share)	$ 2.17	$ 3.58	$ 1.48
Diluted (in dollars per share)	$ 2.17	$ 3.55	$ 1.47

Note 2 - Stock Based Compensa_3

Note 2 - Stock Based Compensation (Details Textual) - USD ($)	1 Months Ended	12 Months Ended				18 Months Ended
	Feb. 29, 2020	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Feb. 23, 2023
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 4,445,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		2 years 10 months 24 days
Share-Based Payment Arrangement, Expense		$ 3,578,000		$ 2,339,000	$ 1,280,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross		40,266		62,730	105,089
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		5 years			5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years		3 years	3 years
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 64.38		$ 66.48	$ 23.74
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number		79,911		113,727	79,833
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period		21,630		125,651	101,966
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 1,603,000		$ 11,279,000	$ 1,315,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value		$ 3,141,000		$ 3,744,000	$ 1,364,000
Stock Repurchased During Period, Shares (in shares)		12,862		13,292	11,754
Shares Acquired, Average Cost Per Share		$ 62.2		$ 105.78	$ 39.32
Payment, Tax Withholding, Share-Based Payment Arrangement		$ 1,220,000		$ 1,406,000	$ 462,000
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)					3 years
Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		3 years
Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		6 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		5 years
Cashless Method Stock Option Exercised [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period		21,630		125,651	101,966
Restricted Stock [Member]
Granted, unvested shares (in shares)		41,492		29,512	39,807
Bonus Stock Award [Member] | Share-Based Payment Arrangement, Employee [Member]
Granted, unvested shares (in shares)		9,144		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share		$ 104.36
Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expense		$ 3,407,000		$ 2,213,000	$ 1,223,000
Cost of Sales [Member]
Share-Based Payment Arrangement, Expense		$ 171,000		$ 126,000	$ 57,000
The 2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized							1,461,461
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Minimum [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		1 year
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Maximum [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		10 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Market Price Percentage, Offering Date		85%
Stock Issued During Period, Shares, Employee Stock Purchase Plans			7,754			5,585
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price			$ 40.25			$ 53.52
Payment, Tax Withholding, Share-Based Payment Arrangement		$ 154,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant			168,251

Note 2 - Stock Based Compensa_4

Note 2 - Stock Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Dividend yield	0%	0%	0%
Weighted average expected volatility	63.14%	52.02%
Weighted average risk-free interest rate	3.75%	0.97%	0.24%
Weighted average expected life (Year)	5 years	5 years	5 years
Vesting period (Year)	3 years	3 years	3 years
Minimum [Member]
Weighted average expected volatility			46.90%
Vesting period (Year)			3 years

Note 2 - Stock Based Compensa_5

Note 2 - Stock Based Compensation - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Options, outstanding (in shares)	236,509	301,514	337,100
Weighted-average exercise price, outstanding (in dollars per share)	$ 31.3	$ 16.25	$ 12.48
Granted (in shares)	40,266	62,730	105,089
Weighted-average exercise price, Granted (in dollars per share)	$ 64.38	$ 66.48	$ 23.74
Weighted-average fair value, Granted (in dollars per share)	$ 30.83	$ 25.54	$ 8.14
Exercised (in shares)	(21,630)	(125,651)	(101,966)
Weighted-average exercise price, Exercised (in dollars per share)	$ 26.16	$ 12.92	$ 12.47
Forfeited and expired (in shares)	(1,021)	(2,084)	(38,709)
Weighted-average exercise price, Forfeited or Expired (in dollars per share)	$ 18.18	$ 19.94	$ 13.68
Options, outstanding (in shares)	254,124	236,509	301,514
Weighted-average exercise price, outstanding (in dollars per share)	$ 37.04	$ 31.3	$ 16.25

Note 2 - Stock Based Compensa_6

Note 2 - Stock Based Compensation - Options Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Exercisable (in shares)	97,056	39,276	51,201
Weighted average remaining contractual life (Year)	2 years 3 months 10 days	2 years 9 months 10 days	2 years 3 months 14 days
Weighted average exercise price (in dollars per share)	$ 28.13	$ 20.26	$ 12.28
Aggregate intrinsic value	$ 2,731	$ 3,314	$ 1,632

Note 2 - Stock Based Compensa_7

Note 2 - Stock Based Compensation - Options Currently Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Number outstanding (in shares)	254,124	236,509	301,514	337,100
Weighted average remaining contractual life (Year)	2 years 8 months 19 days	3 years 3 months 18 days	3 years 2 months 19 days
Weighted average exercise price (in dollars per share)	$ 37.04	$ 31.3	$ 16.25	$ 12.48
Aggregate intrinsic value	$ 9,413	$ 17,343	$ 8,412

Note 2 - Stock Based Compensa_8

Note 2 - Stock Based Compensation - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Balance, unvested shares (in shares)	98,508	108,839	109,070
Balance, weighted-average grant date fair value (in dollars per share)	$ 31.51	$ 17.14	$ 12.98
Granted, unvested shares (in shares)	41,492	29,512	39,807
Granted, weighted-average grant date fair value (in dollars per share)	$ 70.5	$ 65.9	$ 24.2
Vested, unvested shares (in shares)	(47,869)	(37,094)	(35,840)
Vested, weighted-average grant date fair value (in dollars per share)	$ 30.98	$ 17.78	$ 12.48
Forfeited, unvested shares (in shares)	(1,556)	(2,749)	(4,198)
Forfeited, weighted-average grant date fair value (in dollars per share)	$ 15.61	$ 16.84	$ 15.45
Balance, unvested shares (in shares)	90,575	98,508	108,839
Balance, weighted-average grant date fair value (in dollars per share)	$ 49.92	$ 31.51	$ 17.14

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual)	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Proceeds from Sale, Maturity and Collection of Investments	$ 0	$ 14,365,000
debt Securities, Realized Gain		92,000
Debt Securities, Realized Loss		$ 53,000
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	42
Debt Securities, Available for Sale, Other than Temporary Impairment	$ 0

Note 3 - Investments - Availabl

Note 3 - Investments - Available-for-sale Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 09, 2022
Fair value	$ 136,629	$ 28,549
Short-term Certificates of Deposit [Member]
Amortized cost	8,014	5,945
Unrealized gains	0	0
Unrealized losses	119	143
Fair value	7,895		$ 5,802
Short-term US Treasury Securities [Member]
Amortized cost	122,534
Unrealized gains	0
Unrealized losses	143
Fair value	122,391
Short-term Investment [Member]
Amortized cost	130,548	5,945
Unrealized gains	0	0
Unrealized losses	262	143
Fair value	130,286		5,802
US Treasury Securities [Member]
Amortized cost		16,178
Unrealized gains		0
Unrealized losses		1,085
Fair value			15,093
Long-term Certificates of Deposit [Member]
Amortized cost	248	8,016
Unrealized gains	0	0
Unrealized losses	28	362
Fair value	220		7,654
Long-term Investment [Member]
Amortized cost	6,967	24,194
Unrealized gains	0	0
Unrealized losses	624	$ 1,447
Fair value	6,343		$ 22,747
Long-term US Treasury Securities [Member]
Amortized cost	6,719
Unrealized gains	0
Unrealized losses	596
Fair value	$ 6,123

Note 4 - Investments - Securiti

Note 4 - Investments - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Fair value unrealized loss, less than 12 months	$ 113,153	$ 6,345
Gross unrealized loss, less than 12 months	131	176
Fair value unrealized loss, greater than 12 months	23,476	22,204
Gross unrealized loss, greater than 12 months	755	1,414
US Treasury Securities [Member]
Fair value unrealized loss, less than 12 months	112,908	0
Gross unrealized loss, less than 12 months	131	0
Fair value unrealized loss, greater than 12 months	15,606	15,093
Gross unrealized loss, greater than 12 months	608	1,085
Certificates of Deposit [Member]
Fair value unrealized loss, less than 12 months	245	6,345
Gross unrealized loss, less than 12 months	0	176
Fair value unrealized loss, greater than 12 months	7,870	7,111
Gross unrealized loss, greater than 12 months	$ 147	$ 329

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Investment securities:	$ 136,629	$ 28,549
Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
cash equivalents	$ 26,467	$ 15
Investment securities:	136,629	28,549
Fair Value, Inputs, Level 1 [Member]
cash equivalents	26,467	15
Investment securities:	0	0
Fair Value, Inputs, Level 2 [Member]
cash equivalents	0	0
Investment securities:	136,629	28,549
Fair Value, Inputs, Level 3 [Member]
cash equivalents	0	0
Investment securities:	0	0
Money Market Funds [Member]
cash equivalents	26,467	15
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
cash equivalents	26,467	15
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
cash equivalents	0	0
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
cash equivalents	0	0
Certificates of Deposit [Member]
Investment securities:	8,115	13,456
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities:	0	0
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities:	8,115	13,456
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	0	0
US Treasury Securities [Member]
Investment securities:	128,514	15,093
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Investment securities:	0	0
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Investment securities:	128,514	15,093
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 5 - Other Comprehensive _3

Note 5 - Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ 1,354	$ (1,898)	$ 0

Note 5 - Other Comprehensive _4

Note 5 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Balance as of September 30, 2021	$ 147,582	$ 103,824	$ 82,754
Other comprehensive income (loss)	1,354	(1,898)	0
Balance at September 30, 2022	315,163	147,582	103,824
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance as of September 30, 2021	(1,224)	0
Other comprehensive income (loss)	542	(1,224)
Balance at September 30, 2022	(682)	(1,224)	0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance as of September 30, 2021	(674)	0
Other comprehensive income (loss)	812	(674)
Balance at September 30, 2022	138	(674)	0
AOCI Attributable to Parent [Member]
Balance as of September 30, 2021	(1,898)	0	0
Other comprehensive income (loss)	1,354	(1,898)
Balance at September 30, 2022	$ (544)	$ (1,898)	$ 0

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($)	12 Months Ended	24 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Accrued Income Taxes, Current	$ 84,000	$ 84,000	$ 1,791,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards	0	$ 0	0
Open Tax Year		2017 2018 2019 2020 2021 2022 2023
Foreign Tax Authority [Member] | Finnish Tax Administration [Member]
Operating Loss Carryforwards	$ 1,000	$ 1,000	4,000
Foreign Tax Authority [Member] | Finnish Tax Administration [Member] | Nestor Cables [Member]
Open Tax Year	2018 2019 2020 2021 2022 2023
State and Local Jurisdiction [Member]
Open Tax Year		2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 255,000	$ 255,000	$ 292,000
State and Local Jurisdiction [Member] | Research and Development and Alternative Minimum Tax Credit Carryforwards [Member]
Deferred Tax Assets, Valuation Allowance				$ 0

Note 6 - Income Taxes - Income

Note 6 - Income Taxes - Income Tax Expense (Benefit) Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Federal	$ 9,449	$ 13,230	$ 5,154
State	1,435	1,532	440
Foreign	144	48	0
Current income tax expense	11,028	14,810	5,594
Federal	(1,751)	(509)	(234)
State	(251)	6	47
Foreign	53	165	0
Deferred income tax expense	(1,949)	(334)	(187)
Income tax expense	$ 9,079	$ 14,472	$ 5,407

Note 6 - Income Taxes - Reconci

Note 6 - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Federal statutory rate	21%	21%	21%
State income taxes	2.80%	2.10%	2.20%
Foreign income taxes	(0.10%)	0.40%	0%
Permanent differences	0.80%	4.60%	0%
Research and development credits	(1.00%)	(0.50%)	(0.70%)
Excess tax benefits from stock-based compensation	(1.70%)	(4.90%)	(1.50%)
Effective Tax rate	21.80%	22.70%	21%

Note 6 - Income Taxes - Signifi

Note 6 - Income Taxes - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Inventories	$ 2,154	$ 813
R&D expenses	832	0
Stock-based compensation	600	416
Accrued expenses and reserves	515	1,020
Unrealized loss on investments	204	365
Net operating loss carry forwards and credits	201	256
Foreign currency translation loss	0	180
Total deferred tax asset	4,506	3,050
Goodwill	(1,123)	(1,077)
Property and equipment depreciation	(683)	(1,068)
Prepaid expenses	(193)	(163)
Intangibles	(153)	(102)
Foreign currency translation gain	(36)	0
Total deferred tax liability	(2,188)	(2,410)
Net deferred tax asset	$ 2,318	$ 640

Note 7 - Concentrations (Detail

Note 7 - Concentrations (Details Textual)	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment, Net	$ 21,527,000	$ 18,229,000
MEXICO
Property, Plant and Equipment, Net	7,003,000	4,213,000
Oulu, Finland [Member] | Nestor Cables [Member]
Property, Plant and Equipment, Net	6,703,000	6,916,000
Keila, Estonia [Member] | Nestor Cables [Member]
Property, Plant and Equipment, Net	$ 660,000	$ 280,000
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	1	1	2	2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage	16%	14%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage			28%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers	3	1
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage		20%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk, Percentage	16%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration Risk, Percentage	13%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration Risk, Percentage	11%

Note 7 - Concentrations - Disag

Note 7 - Concentrations - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Net sales	$ 268,720	$ 270,883	$ 140,755
Percent of net sales	100%	100%	100%
Broadband Service Providers [Member]
Percent of net sales	97%	99%	98%
Legacy Customers [Member]
Percent of net sales	3%	1%	2%
Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	$ 268,720	$ 270,883	$ 140,755
UNITED STATES | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	218,835	255,607	131,285
Non-US [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	$ 49,885	$ 15,276	$ 9,470

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1,017,000	$ 1,129,000	$ 915,000
Employee Wages, Accrued for Monthly, Percent		17.40%
Nestor Cables [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1,112,000	$ 204,000
Employee Wages, Accrued for Monthly, Percent	18.30%
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3%

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)				12 Months Ended
	Apr. 01, 2024 EUR (€)	May 11, 2023 EUR (€)	Jul. 31, 2021 USD ($) ft²	Sep. 30, 2023 USD ($) ft²	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Nov. 19, 2021 ft²	Jan. 01, 2015
Operating Lease, Weighted Average Remaining Lease Term				5 years 1 month 28 days	4 years 14 days	3 years 1 month 2 days
Operating Lease, Weighted Average Discount Rate, Percent				3.59%	3.22%	3.41%
Operating Lease, Payments | $				$ 3,954,000	$ 2,064,000	$ 1,290,000
Tabasalu, Estonia [Member]
Area of Real Estate Property				49,000
Operating Lease, Monthly Payment | €		€ 20,400
Tabasalu, Estonia [Member] | Forecast [Member]
Operating Lease, Monthly Payment | €	€ 25,000
Tabasalu, Estonia [Member] | Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)		60 months
Operating Lease, Payments, Annual Increase, Percentage		5%
7050 Winnetka Avenue North, Brooklyn Park, Minnesota [Member]
Area of Real Estate Property				85,000
Lessee, Operating Lease, Term of Contract (Year)								10 years 2 months 1 day
Tijuana, Mexico 3 [Member]
Area of Real Estate Property			318,000
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract			7 years
Lessee, Operating Lease, Number of Options to Renew			2
Lessee, Operating Lease, Lease Not yet Commenced, Renewal Term			5 years
Operating Lease, Monthly Payment | $			$ 162,000
Operating Lease, Payments, Annual Increase, Percentage			2%
Tijuana, Mexico 3 [Member] | Lease Mandatory Contractual Term [Member]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract			5 years
Brooklyn Part, MN [Member]
Area of Real Estate Property							105,000
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract							5 years
Lessee, Operating Lease, Lease Not yet Commenced, Renewal Term							5 years
Oulu, Finland [Member]
Area of Real Estate Property				25,000
Operating Lease, Monthly Payment | $				$ 40,000

Note 9 - Leases - Operating Lea

Note 9 - Leases - Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Total lease expense	$ 4,311	$ 2,801	$ 1,216
Cost of Sales [Member]
Total lease expense	4,067	2,534	999
Selling, General and Administrative Expenses [Member]
Total lease expense	$ 244	$ 277	$ 217

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
FY 2024	$ 4,064
FY 2025	3,921
FY 2026	3,242
FY 2027	1,572
FY 2028	384
Thereafter	2,626
Total lease payments	15,809
Less: Interest	(1,443)
Present value of lease liabilities	$ 14,366

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual)		1 Months Ended	12 Months Ended
	Apr. 27, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)
Senior Loan Agreement [Member]
Debt Instrument, Face Amount		$ 2,000,000
Debt Instrument, Term (Year)		3 years
Debt Instrument, Covenant, Interest Payment Cap		5%
Debt Instrument, Covenant, Interest Penalty		2%
Long-Term Debt			$ 2,112,000	€ 2,000,000	$ 1,966,000	€ 2,000,000
Revolving Credit Facility [Member] | Loan and Security Agreement With Bremer Bank, National Association [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000
Debt Instrument, Minimum Interest Rate Required	1.80%
Debt Instrument, Interest Rate During Period			7.18%
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio	1.2
Debt Instrument, Covenant, Maximum Debt to Cash Flow Ratio	2
Long-Term Line of Credit					$ 16,700,000
Debt Instrument, Collateral Amount			$ 335,412,000
Revolving Credit Facility [Member] | Loan and Security Agreement With Bremer Bank, National Association [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.85%

Note 11 - Acquisition of Nest_3

Note 11 - Acquisition of Nestor Cables (Details Textual) € in Millions			12 Months Ended
	Jul. 26, 2022 USD ($)	Jul. 26, 2022 EUR (€)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)
Goodwill, Ending Balance			$ 6,402,000	$ 6,528,000
Nestor Cables [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100%
Business Combination, Consideration Transferred, Total	$ 8,000,000	€ 7.9
Business Combination, Consideration Transferred, Liabilities Incurred	7,800,000	€ 7.6
Goodwill, Ending Balance	$ 1,762,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	12 years 9 months 25 days	12 years 9 months 25 days
Nestor Cables [Member] | Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs			$ 1,600,000
Nestor Cables [Member] | Approximate [Member]
Goodwill, Ending Balance	$ 1,700,000
Nestor Cables [Member] | Revolving Credit Facility [Member]
Proceeds from Lines of Credit	$ 16,700,000

Note 11 - Acquisition of Nest_4

Note 11 - Acquisition of Nestor Cables - Summary of Estimated Fair Value of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Jul. 26, 2022
Goodwill	$ 6,528	$ 6,402
Nestor Cables [Member]
Cash			$ 72
Accounts receivables			10,562
Inventories			11,377
Other current assets			173
Total current assets			22,184
Property and equipment			7,689
Intangibles assets			1,840
Right of use lease asset			1,297
Goodwill			1,762
Other			55
Total assets			34,827
Accounts payable			5,839
Accrued compensation			1,430
Accrued expenses			1,916
Deferred tax liability			621
Lease liability			1,297
Factoring liability			5,849
Long term debt			2,045
Total liabilities			18,997
Net assets acquired			$ 15,830

Note 12 - Segment Reporting (De

Note 12 - Segment Reporting (Details Textual)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Number of Reportable Segments	2	2

Note 12 - Segment Reporting - R

Note 12 - Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Net sales	$ 268,720,000	$ 270,883,000	$ 140,755,000
Revenue from internal customers (Clearfield, Inc.)	0	0
Net investment income	5,206,000	328,000
Interest expense	881,000	311,000
Depreciation and amortization	6,054,000	3,426,000	2,302,000
Stock based compensation	3,578,000	2,339,000	1,280,000
Income taxes	9,079,000	14,472,000	5,407,000
Net Income	32,533,000	49,362,000	$ 20,327,000
Capital Expenditures	7,684,000	8,500,000
Intersegment Eliminations [Member]
Net sales	0	0
Revenue from internal customers (Clearfield, Inc.)	(5,408,000)	(182,000)
Net investment income	(116,000)	0
Interest expense	(116,000)	0
Depreciation and amortization	0	0
Stock based compensation	0	0
Income taxes	0	0
Net Income	(1,020,000)	(20,000)
Capital Expenditures	0	0
Clearfield [Member] | Operating Segments [Member]
Net sales	225,722,000	263,822,000
Revenue from internal customers (Clearfield, Inc.)	0	0
Net investment income	5,315,000	327,000
Interest expense	170,000	141,000
Depreciation and amortization	4,598	3,187,000
Stock based compensation	3,528,000	2,339,000
Income taxes	8,883,000	14,258,000
Net Income	32,834,000	49,771,000
Capital Expenditures	6,759,000	8,487,000
Nestor Cables [Member] | Operating Segments [Member]
Net sales	42,998,000	7,061,000
Revenue from internal customers (Clearfield, Inc.)	5,408,000	182,000
Net investment income	7,000	1,000
Interest expense	827,000	170,000
Depreciation and amortization	1,456,000	239,000
Stock based compensation	50,000	0
Income taxes	196,000	214,000
Net Income	719,000	(389,000)
Capital Expenditures	$ 925,000	$ 13,000

Note 12 - Segment Reporting -_2

Note 12 - Segment Reporting - Reconciliation of Assets from Segments to Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Goodwill	$ 6,528	$ 6,402
Total assets	355,517	229,128
Operating Segments [Member] | Clearfield [Member]
Goodwill	4,709	4,709
Total assets	335,412	214,785
Operating Segments [Member] | Nestor Cables [Member]
Goodwill	1,819	1,693
Total assets	43,550	31,023
Intersegment Eliminations [Member]
Goodwill	0	0
Total assets	$ (23,445)	$ (16,680)

Note 13 - Financing Receivabl_2

Note 13 - Financing Receivables (Details Textual) € in Millions	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 EUR (€)
Factoring Liabilities	$ 6,289,000	$ 4,391,000
Financing Receivables, Percentage of Cash Initially Received	80%		80%
Financing Receivable, Percentage of Balance Received When Invoice is Paid	20%		20%
Financing Receivable, Limit	$ 13,200,000		€ 12.5
Financing Receivable, Average Interest Rate During Period	3.89%	214%
Minimum [Member]
Agreement Termination Period (Month)	0 months
Maximum [Member]
Agreement Termination Period (Month)	1 month
Euribor [Member] | Minimum [Member]
Financing Receivable, Interest Rate, Basis Spread on Variable Rate	75%
Euribor [Member] | Maximum [Member]
Financing Receivable, Interest Rate, Basis Spread on Variable Rate	1.30%

Insider Trading Arrangement (De

Insider Trading Arrangement (Details Textual)	12 Months Ended
	Sep. 30, 2023
Rule 10b5-1 Arrangement Adopted [Flag]	False
Non-Rule 10b5-1 Arrangement Adopted [Flag]	False
Non-Rule 10b5-1 Arrangement Terminated [Flag]	False
Rule 10b5-1 Arrangement Terminated [Flag]	False