Clearfield (CLFD) 10-Q 7 May 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2024	May 01, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		14,233,283
Entity Central Index Key	0000796505
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Current Assets
Cash and cash equivalents	$ 15,818,000	$ 37,827,000
Short-term investments	127,089,000	130,286,000
Accounts receivables, net	21,899,000	28,392,000
Inventories, net	83,985,000	98,055,000
Other current assets	8,641,000	1,695,000
Total current assets	257,432,000	296,255,000
Property, plant and equipment, net	22,434,000	21,527,000
Other Assets
Long-term investments	6,523,000	6,343,000
Goodwill	6,568,000	6,528,000
Intangible assets, net	6,219,000	6,092,000
Right-of-use lease assets	12,394,000	13,861,000
Deferred tax asset	2,842,000	3,039,000
Other	991,000	1,872,000
Total other assets	35,537,000	37,735,000
Total Assets	315,403,000	355,517,000
Current Liabilities
Current portion of lease liability	3,761,000	3,737,000
Current maturities of long-term debt	2,159,000	2,112,000
Accounts payable	5,914,000	8,891,000
Accrued compensation	5,871,000	5,571,000
Accrued expenses	2,740,000	2,404,000
Factoring liability	5,931,000	6,289,000
Total current liabilities	26,376,000	29,004,000
Other Liabilities
Long-term portion of lease liability	9,098,000	10,629,000
Deferred tax liability	721,000	721,000
Total liabilities	36,195,000	40,354,000
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; 14,409,995 and 15,254,725 shares issued and outstanding as of March 31, 2024 and September 30, 2023, respectively	144,000	153,000
Additional paid-in capital	162,697,000	188,218,000
Accumulated other comprehensive loss	(130,000)	544,000
Retained earnings	116,237,000	127,336,000
Total shareholders’ equity	279,208,000	315,163,000
Total Liabilities and Shareholders’ Equity	$ 315,403,000	$ 355,517,000

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2024	Sep. 30, 2023
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	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)	14,409,995	15,254,725
Common Stock, Shares, Outstanding (in shares)	14,409,995	15,254,725

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 36,910,000	$ 71,809,000	$ 71,140,000	$ 157,751,000
Cost of sales	34,078,000	48,246,000	63,611,000	103,539,000
Gross profit	2,832,000	23,563,000	7,529,000	54,212,000
Operating expenses
Selling, general and administrative	12,573,000	11,508,000	25,432,000	24,266,000
Income from operations	(9,741,000)	12,055,000	(17,903,000)	29,946,000
Net investment income	1,849,000	1,395,000	3,918,000	1,698,000
Interest expense	(102,000)	(112,000)	(228,000)	(356,000)
Income before income taxes	(7,994,000)	13,338,000	(14,213,000)	31,288,000
Income tax expense	(2,083,000)	2,974,000	(3,034,000)	6,669,000
Net income	$ (5,911,000)	$ 10,364,000	$ (11,179,000)	$ 24,619,000
Net income per share Basic (in dollars per share)	$ (0.4)	$ 0.67	$ (0.75)	$ 1.68
Net income per share Diluted (in dollars per share)	$ (0.4)	$ 0.67	$ (0.75)	$ 1.67
Weighted average shares outstanding:
Basic (in shares)	14,629,489	15,233,848	14,922,811	14,693,829
Diluted (in shares)	14,629,489	15,260,769	14,922,811	14,766,938

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net (loss) income	$ (5,911)	$ 10,364	$ (11,179)	$ 24,619
Other comprehensive income, net of tax
Unrealized gain on available-for-sale investments	(45)	197	245	339
Unrealized gain on foreign currency translation	(301)	302	429	1,326
Total other comprehensive income	(346)	499	674	1,665
Total comprehensive (loss) income	$ (6,257)	$ 10,863	$ (10,505)	$ 26,284

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Balance (in shares) at Sep. 30, 2022		13,818,000
Balance at Sep. 30, 2022		$ 138		$ 54,539		$ (1,898)		$ 94,803		$ 147,582
Stock-based compensation expense		$ 0		1,444		0		0		1,444
Issuance of common stock under equity compensation plans (in shares)		51,000
Issuance of common stock under equity compensation plans		$ 1		954		0		0		954
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		10,000
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(954)		0		0		(954)
Exercise of stock options, net of shares exchanged for payment (in shares)		10,000
Exercise of stock options, net of shares exchanged for payment		$ 0		(471)		0		0		(471)
Other comprehensive income (loss)		0		0		1,665		0		1,665
Net (loss) income		$ 0		0		0		24,619		24,619
Issuance of common stock under employee stock purchase plan (in shares)		5,000
Issuance of common stock under employee stock purchase plan		$ 0		299		0		0		299
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		(10,000)
Issuance of common stock under employee stock purchase plan (in shares)		5,000
Issuance of common stock under employee stock purchase plan		$ 0		299		0		0		299
Issuance of common stock, net (in shares)		1,380,000
Issuance of common stock, net		$ 14		130,248		0		0		130,262
Balance (in shares) at Mar. 31, 2023		15,255,000
Balance at Mar. 31, 2023		$ 153		186,058		(234)		119,422		305,399
Balance (in shares) at Dec. 31, 2022		15,218
Balance at Dec. 31, 2022		$ 152		185,404		(733)		109,058		293,881
Stock-based compensation expense		$ 0		784		0		0		784
Issuance of common stock under equity compensation plans (in shares)		33,000
Issuance of common stock under equity compensation plans		$ 1		0		0		0		1
Exercise of stock options, net of shares exchanged for payment (in shares)		3,000
Exercise of stock options, net of shares exchanged for payment		$ 0		(130)		0		0		(130)
Other comprehensive income (loss)		0		0		499		0		499
Net (loss) income		$ 0		0		0		10,364		10,364
Balance (in shares) at Mar. 31, 2023		15,255,000
Balance at Mar. 31, 2023		$ 153		186,058		(234)		119,422		305,399
Balance (in shares) at Dec. 31, 2022		15,218
Balance at Dec. 31, 2022		$ 152		185,404		(733)		109,058		293,881
Balance (in shares) at Dec. 31, 2023		14,939,000
Balance at Dec. 31, 2023		$ 149		177,322		476		122,148		300,095
Balance (in shares) at Sep. 30, 2023		15,255,000
Balance at Sep. 30, 2023	$ 0	$ 153	$ 0	188,218	$ 0	(544)	$ 80	127,336	$ 80	315,163
Stock-based compensation expense		$ 0		2,284		0		0		2,284
Issuance of common stock under equity compensation plans (in shares)		132,000
Issuance of common stock under equity compensation plans		$ 1		(1)		0		0		0
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		9,000
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(240)		0		0		(240)
Repurchase of common stock (in shares)		(979,000)
Repurchase of common stock		$ (10)		(27,804)		0		0		(27,814)
Exercise of stock options, net of shares exchanged for payment (in shares)		1,000
Exercise of stock options, net of shares exchanged for payment		$ 0		(9)		0		0		(9)
Other comprehensive income (loss)				0		674		0		674
Net (loss) income		$ 0		0		0		(11,179)		(11,179)
Issuance of common stock under employee stock purchase plan (in shares)		10,000
Issuance of common stock under employee stock purchase plan		$ 0		250		0		0		250
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		(9,000)
Issuance of common stock under employee stock purchase plan (in shares)		10,000
Issuance of common stock under employee stock purchase plan		$ 0		250		0		0		250
Balance (in shares) at Mar. 31, 2024		14,410,000
Balance at Mar. 31, 2024		$ 144		162,697		130		116,237		279,208
Balance (in shares) at Dec. 31, 2023		14,939,000
Balance at Dec. 31, 2023		$ 149		177,322		476		122,148		300,095
Stock-based compensation expense		$ 0		1,012		0		0		1,012
Issuance of common stock under equity compensation plans (in shares)		14,000
Issuance of common stock under equity compensation plans		$ 0		0		0		0		0
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		0
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(4)		0		0		(4)
Repurchase of common stock (in shares)		(544,000)
Repurchase of common stock		$ (5)		(15,624)		0		0		(15,629)
Exercise of stock options, net of shares exchanged for payment (in shares)		1,000
Exercise of stock options, net of shares exchanged for payment		$ 0		(9)		0		0		(9)
Other comprehensive income (loss)		0		0		(346)		0		(346)
Net (loss) income		$ 0		0		0		(5,911)		(5,911)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		0
Balance (in shares) at Mar. 31, 2024		14,410,000
Balance at Mar. 31, 2024		$ 144		$ 162,697		$ 130		$ 116,237		$ 279,208

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net (loss) income	$ (11,179)	$ 24,619
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	3,572	2,822
Amortization of discount on investments	(2,196)	(1,139)
Deferred taxes	(195)	(35)
Stock-based compensation	2,284	1,444
Changes in operating assets and liabilities, net of acquired amounts:
Accounts receivable	6,600	16,353
Inventories, net	14,414	(17,243)
Other assets	(5,951)	(2,407)
Accounts payable and accrued expenses	(2,752)	(14,273)
Net cash provided by operating activities	4,597	10,141
Cash flows from investing activities
Purchases of property, plant and equipment and intangible assets	(4,389)	(4,797)
Purchases of investments	(47,748)	(99,126)
Proceeds from maturities of investments	53,293	100,743
Net cash provided by (used in) investing activities	1,156	(3,180)
Cash flows from financing activities
Repayment of long-term debt	0	(16,700)
Proceeds from issuance of common stock under employee stock purchase plan	250	299
Repurchase of shares for payment of withholding taxes for stock grants	(240)	(954)
Tax withholding and proceeds related to exercise of stock options	(9)	(471)
Issuance of stock under equity compensation plans	0	954
Net proceeds from issuance of common stock	0	130,262
Repurchase of common stock	27,814	0
Net cash (used in) provided by financing activities	(27,813)	113,390
Effect of exchange rates on cash	51	80
(Decrease) increase in cash and cash equivalents	(22,009)	120,431
Cash and cash equivalents, beginning of year	37,827	16,650
Cash and cash equivalents, end of year	15,818	137,081
Supplemental disclosures for cash flow information
Cash paid during the year for income taxes	157	10,211
Cash paid for interest	172	266
Non-cash financing activities
Cashless exercise of stock options	$ 19	$ 510

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Summary of Significant Accounting Policies Unless the context otherwise requires, for purposes of this Quarterly Report on Form 10-Q, the words “we,” “us,” “our,” the “Company,” and “Clearfield,” refer to Clearfield, Inc. and subsidiaries. Basis of Presentation The accompanying (a) consolidated balance sheet as of September 30, 2023, which has been derived from audited financial statements, and (b) unaudited interim consolidated financial statements as of and for the three and six months ended March 31, 2024 have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the consolidated financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial position, results of operations, and cash flows of the interim periods presented. Operating results for the interim periods presented are not necessarily indicative of results to be expected for the full year or for any other interim period, due to variability in customer purchasing patterns, seasonality, and other factors. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023. In preparation of the Company’s consolidated financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Principles of Consolidation The consolidated financial statements include the accounts of Clearfield, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Recently Adopted Accounting Pronouncements On October 1, 2023, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standard Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments, New Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Note 2 - Net Income (Loss) Per

Note 2 - Net Income (Loss) Per Share	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 2. Net Income (Loss) Per Share Basic net income (loss) per common share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income (loss) divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive. The following is a reconciliation of the numerator and denominator of the net income (loss) per common share computations for the three and six months ended March 31, 2024, and 2023: Three Months Ended March 31, Six Months Ended March 31, (In thousands, except for share data 2024 2023 2024 2023 Net (loss) income $ (5,911 ) $ 10,364 $ (11,179 ) $ 24,619 Weighted average common shares 14,629,489 15,233,848 14,922,811 14,693,829 Dilutive potential common shares - 26,921 - 73,109 Weighted average dilutive common shares outstanding 14,629,489 15,260,769 14,922,811 14,766,938 Net (loss) income per common share: Basic $ (0.40 ) $ 0.67 $ (0.75 ) $ 1.68 Diluted $ (0.40 ) $ 0.67 $ (0.75 ) $ 1.67

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	Note 3. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The following table presents the Company’s cash and cash equivalents balances: (In thousands) March 31, 2024 September 30, 2023 Cash and cash equivalents: Cash, including money market accounts $ 2,893 $ 11,360 Money market funds 12,925 26,467 Total cash and cash equivalents $ 15,818 $ 37,827

Note 4 - Investments

Note 4 - Investments	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Investment [Text Block]	Note 4. Investments The Company invests in certificates of deposit that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”) and United States Treasury securities with terms of not more than five years, as well as money market funds. The Company’s investment portfolio is classified as 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. As of March 31, 2024, available-for-sale investments consisted of the following: March 31, 2024 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S. Treasury securities $ 124,960 $ 1 $ (81 ) $ 124,880 Certificates of deposit 2,221 - (12 ) 2,209 Investment securities – short-term $ 127,181 $ 1 $ (93 ) $ 127,089 Long-Term U.S Treasury securities $ 6,737 $ - $ (442 ) $ 6,295 Certificates of deposit 248 - (20 ) 228 Investment securities – long-term $ 6,985 $ - $ (462 ) $ 6,523 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 March 31, 2024, 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 $ 124,880 $ (84 ) $ 6,295 $ (438 ) Certificates of deposit 245 - 2,192 (32 ) Investment securities $ 125,125 $ (84 ) $ 8,487 $ (470 ) 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 March 31, 2024, there were 18 securities in an unrealized loss position which is due to the market paying a higher interest rate than the coupon rate on these securities. 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 March 31, 2024 and September 30, 2023, there are no securities which are other than temporarily impaired as the Company intends to hold these securities until their value recovers and there is negligible credit risk due to the nature of the securities which are backed by the FDIC and the U.S. federal government.

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurements	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 5. 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 U.S. treasury securities and certificates of deposit 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 March 31, 2024, according to the three-level fair value hierarchy: Fair Value Measurements as of March 31, 2024 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 12,925 $ 12,925 $ - $ - Total cash equivalents $ 12,925 $ 12,925 $ - $ - Investment securities: Certificates of deposit $ 2,437 $ - $ 2,437 $ - U.S. Treasury securities 131,175 - 131,175 - Total investment securities $ 133,612 $ - $ 133,612 $ - 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 three and six months ended March 31, 2024, and the year ended September 30, 2023, the Company 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. The Company had no re-measurements of non-financial assets to fair value in the three or six months ended March 31, 2024, and the year ended September 30, 2023.

Note 6 - Other Comprehensive In

Note 6 - Other Comprehensive Income (Loss)	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 6. 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 Income (Loss) Balances at September 30, 2023 $ (682 ) $ 138 $ (544 ) Other comprehensive income for the three months ended December 31, 2023 291 729 1,020 Balances at December 31, 2023 $ (391 ) $ 867 $ 476 Other comprehensive (loss) for the three months ended March 31, 2024 (45 ) (301 ) (346 ) Balances at March 31, 2024 $ (436 ) $ 566 $ 130

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 7. Stock-Based Compensation The Company recorded $1,012,000 and $2,284,000 of compensation expense related to current and past restricted stock grants, non-qualified stock options, performance stock units, and the Company’s Employee Stock Purchase Plan (“ESPP”) for the three and six months ended March 31, 2024. For the three months ended March 31, 2024, $952,000 of this expense is included in selling, general and administrative expense, and $60,000 is included in cost of sales. For the six months ended March 31, 2024, $2,180,000 of this expense is included in selling, general and administrative expense, and $104,000 is included in cost of sales. The Company recorded $784,000 and $1,444,000 of compensation expense related to current and past restricted stock grants, non-qualified stock options, and the Company’s Employee Stock Purchase Plan (“ESPP”) for the three and six months ended March 31, 2023. For the three months ended March 31, 2023, $736,000 of this expense is included in selling, general and administrative expense, and $48,000 is included in cost of sales. For the six months ended March 31, 2023, $1,361,000 of this expense is included in selling, general and administrative expense, and $83,000 is included in cost of sales. As of March 31, 2024, $6,779,000 of total unrecognized compensation expense related to non-vested restricted stock awards and stock options is expected to be recognized over a period of approximately 2.6 years. Stock Options The Company uses the Black-Scholes option pricing model to determine the fair value of stock options granted. During the six months ended March 31, 2024, the Company granted employees non-qualified stock options to purchase an aggregate of 111,299 shares of common stock with a weighted average contractual term of five three The fair value of stock option awards during the six months ended March 31, 2024, was estimated as of the respective grant dates using the assumptions listed below: Six months ended March 31, 2024 Dividend yield 0.00 % Expected volatility 61.71 % Risk-free interest rate 4.55 % Expected life 3.5 years Vesting period 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 as of the grant date on zero-coupon U.S. governmental bonds with a remaining life similar to the expected option term. Options are granted with exercise prices at fair market values determined on the date of grant and vesting normally occurs over a three five The following is a summary of stock option activity during the six months ended March 31, 2024: Number of options Weighted average exercise price Outstanding as of September 30, 2023 254,124 $ 37.04 Granted 111,299 26.18 Exercised (1,501 ) 12.40 Forfeited or expired (4,345 ) 38.13 Outstanding as of March 31, 2024 359,577 $ 33.77 The intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. As of March 31, 2024, the weighted average remaining contractual term for all outstanding and exercisable stock options was 1.92 years and their aggregate intrinsic value was $1,452,000. Restricted Stock During the six months ended March 31, 2024, the Company granted employees restricted stock awards totaling 136,157 shares of common stock, with a vesting term of approximately three Restricted stock transactions during the six months ended March 31, 2024, are summarized as follows: Number of shares Weighted average grant date fair value Unvested shares as of September 30, 2023 90,575 $ 49.92 Granted 136,157 26.43 Vested (37,569 ) 54.35 Forfeited (2,967 ) 31.48 Unvested as of March 31, 2024 186,196 $ 30.98 Performance Stock During the six months ended March 31, 2024, the Company granted 47,745 performance stock units which entitles the participant to receive the same number of shares of the Company’s common stock, upon achievement of a fiscal year 2024 performance goal. The Company has determined the fair value per underlying share of the performance stock unit awards to be $26.18 as of the grant date. Compensation expense for the performance stock units is measured using the fair value of our common stock at the grant date. As of March 31, 2024, the Company does not believe it is probable that these performance stock unit awards will vest based on achievement of established performance criteria, and previously recognized compensation expense related to these awards has been reversed to $0. The Company did not Bonus Stock The Company did not Employee Stock Purchase Plan The Company’s ESPP allows participating employees to purchase shares of the Company’s common stock at a discount through payroll deductions. The ESPP is available to all employees subject to certain eligibility requirements. Terms of the ESPP provide those participating employees the ability to purchase the Company’s common stock on a voluntary after-tax basis. Employees may purchase the Company’s common stock at a price that is no less than the lower of 85% of the fair market value of one share of common stock at the beginning or end of each stock purchase period or phase. The ESPP is carried out in six-month phases, with phases beginning on January 1 and July 1 of each calendar year. For the phase that ended on December 31, 2023, employees purchased 10,104 shares at a price of $24.72 per share. After the employee purchase on December 31, 2023, 158,147 shares of common stock were available for future purchase under the ESPP.

Note 8 - Revenue

Note 8 - Revenue	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 8. Revenue Revenue Recognition Net sales include products and shipping and handling charges. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products. All revenue is recognized when the Company satisfies its performance obligations under the contract. The Company recognizes revenue by transferring the promised products to the customer, with substantially all revenue recognized at the point in time the customer obtains control of the products. The Company recognizes revenue, including shipping and handling charges, at the time the products are delivered to or picked up by the customer. The majority of the Company’s contracts have a single performance obligation and are short term in nature. Sales taxes and value added taxes in foreign jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales. Disaggregation of Revenue The Company allocates sales from external customers to geographic areas based on the location to which the product is transported. Sales outside the United States are principally to customers in Europe, the Caribbean, Canada, Central and South America. Revenues related to the following geographic areas were as follows for the three and six months ended: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2024 2023 2024 2023 United States $ 26,963 $ 58,671 $ 54,524 $ 134,409 All other countries 9,947 13,138 16,616 23,342 Total Net Sales $ 36,910 $ 71,809 $ 71,140 $ 157,751 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 markets were as follows for the three and six months ended: Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2024 2023 2024 2023 Broadband service providers 93 % 96 % 93 % 97 % Other customers 7 % 4 % 7 % 3 % Total Net Sales 100 % 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 Tier 3 customers; National Carriers, which includes large national and global wireline and wireless providers, also referred to as Tier 1 customers; Large Regional Service Providers with a national footprint; Multiple System Operators (“MSO’s”), which include cable television companies; and International customers. Accounts Receivable Credit is extended based on the evaluation of a customer’s financial condition, and collateral is generally not required. Accounts that are outstanding longer than the contractual payment terms are considered past due. On October 1, 2023, the Company adopted the cumulative expected credit loss model (“CECL”). Upon adoption of the CECL, the Company measures the allowance for credit losses using an expected credit loss model, which uses a lifetime expected credit loss allowance for all accounts receivable. To measure the expected credit losses, accounts receivable are grouped based on shared credit risk characteristics and the days past due. In calculating an allowance for credit losses, the Company uses its historical experience, external indicators, and forward-looking information to calculate expected credit losses using an aging method. The Company assesses impairment of accounts receivable on a collective basis as they possess shared credit risk characteristics which have been grouped based on the days past due. The expected loss rates are based on the Company’s historical credit losses experience. The historical loss rates are adjusted to reflect current and forward-looking information. As of March 31, 2024, the Company’s allowance for credit losses was $0. As of September 30, 2023, prior to the adoption of CECL, the Company’s allowance for doubtful accounts was $79,000. Upon the adoption of CECL, the prior allowance for doubtful accounts was recorded as a benefit to beginning retained earnings. See Note 9 “Major Customer Concentration” for further information regarding accounts receivable and net sales.

Note 9 - Major Customer Concent

Note 9 - Major Customer Concentration	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 9. Major Customer Concentration For the three months ended March 31, 2024, the Company had two two For the three months ended March 31, 2023, the Company had one one As of March 31, 2024, three three

Note 10 - Inventories

Note 10 - Inventories	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 10. Inventories Inventories consist of finished goods, raw materials, and work-in-process and are stated at average cost, subject to the lower of cost or net realizable value. Certain components of the Company’s inventory classified as raw materials or finished goods can be used as a component to manufacture products or can be sold directly to the customer. Inventory is valued using material costs, labor charges, and allocated factory overhead charges and consists of the following: (In thousands) March 31, 2024 September 30, 2023 Raw materials $ 64,830 $ 73,657 Work-in-process 2,052 1,462 Finished goods 31,653 29,696 Inventories, gross 98,535 104,815 Inventory reserve (14,550 ) (6,760 ) Inventories, net $ 83,985 $ 98,055 Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on the Company’s usage and inventory age, relative to historical experience.

Note 11 - Goodwill and Intangib

Note 11 - Goodwill and Intangibles	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 11. Goodwill and Intangibles The Company tests Goodwill for impairment annually at fiscal year-end, or more frequently when events or changes in circumstances indicate that the asset might be impaired. The Company assesses qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. The result of the analysis performed as of September 30, 2023, did not 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 March 31, 2024, the Company has 51 patents granted and multiple pending applications both inside and outside the United States. In addition, the Company has various finite lived intangible assets, most of which were acquired as a result of the acquisition of the active cabinet product line from Calix, Inc. during fiscal year 2018 and the acquisition of Nestor Cables in fiscal year 2022. The Company analyzes its intangible assets for impairment annually or at interim periods when events occur or changes in circumstances indicate potential impairment. The result of the analysis performed as of September 30, 2023, did not Goodwill and other intangible assets, net of accumulated amortization, as of March 31, 2024 and September 30, 2023 were as follows: (In thousands) March 31, 2024 September 30, 2023 Goodwill $ 6,568 $ 6,528 Other intangibles, net 6,219 6,092 Total goodwill and other intangibles, net $ 12,787 $ 12,620 The changes in the carrying amount of goodwill by reportable segment for the six months ended March 31, 2024 and March 31, 2023 were as follows: (In thousands) Clearfield, Inc. Nestor Total Balance as of September 30, 2023 $ 4,708 $ 1,820 $ 6,528 Currency translation effect on foreign goodwill balances - 40 40 Balance as of March 31, 2024 $ 4,708 $ 1,860 $ 6,568 The components of other intangible assets were as follows: March 31, 2024 (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships $ 4,845 $ 1,715 $ 3,130 Certifications 584 334 250 Trademarks 1,290 682 608 Patents 1,172 192 980 Developed technology 295 - 295 Other 6 6 - Software 3,292 2,336 956 Totals $ 11,484 $ 5,265 $ 6,219 September 30, 2023 (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships $ 4,894 $ 1,582 $ 3,312 Certifications 584 267 317 Trademarks 1,333 700 633 Patents 1,119 165 954 Developed technology 311 22 289 Other 6 6 - Software 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 Amortization expense related to these assets was $663,000 and $555,000 for the six months ended March 31, 2024 and March 31, 2023, respectively. Estimated future amortization expense for identifiable intangibles during the next five years is as follows: (In thousands) Estimated amortization expense FY 2024 (remaining) $ 653 FY 2025 953 FY 2026 678 FY 2027 393 FY 2028 373 Thereafter 3,169 Total $ 6,219

Note 12 - Segment Reporting

Note 12 - Segment Reporting	6 Months Ended
	Mar. 31, 2024
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. The Company has two The following table summarizes the amounts between the two Three months ended March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 27,600 $ 9,310 $ - $ 36,910 Revenue from internal customers (Clearfield, Inc.) - 218 (218 ) - Net investment income 1,906 2 (59 ) 1,849 Interest expense - 161 (59 ) 102 Depreciation and amortization 1,551 369 - 1,920 Stock based compensation 940 72 - 1,012 Income tax benefit (1,825 ) (258 ) - (2,083 ) Net income (loss) (5,001 ) (913 ) 3 (5,911 ) Capital expenditures 1,806 165 - 1,971 Six months ended March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 55,700 $ 15,440 $ - $ 71,140 Revenue from internal customers (Clearfield, Inc.) - 1,101 (1,101 ) - Net investment income 4,032 4 (118 ) 3,918 Interest expense - 346 (118 ) 228 Depreciation and amortization 2,848 724 - 3,572 Stock based compensation 2,161 123 - 2,284 Income tax benefit (2,408 ) (626 ) - (3,034 ) Net loss (8,384 ) (2,673 ) (122 ) (11,179 ) Capital expenditures 3,093 1,296 - 4,389 Three months ended March 31, 2023 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 60,451 $ 11,358 $ - $ 71,809 Revenue from internal customers (Clearfield, Inc.) - 1,737 (1,737 ) - Net investment income 1,394 1 - 1,395 Interest expense - 112 - 112 Depreciation and amortization 1,099 359 - 1,458 Stock based compensation 784 - - 784 Income taxes 2,873 101 - 2,974 Net income (loss) 10,395 402 (433 ) 10,364 Capital expenditures 2,481 98 - 2,579 Six months ended March 31, 2023 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 138,806 $ 18,945 $ - $ 157,751 Revenue from internal customers (Clearfield, Inc.) - 2,923 (2,923 ) - Net investment income 1,694 4 - 1,698 Interest expense 170 186 - 356 Depreciation and amortization 2,110 712 - 2,822 Stock based compensation 1,444 - - 1,444 Income taxes 6,646 23 - 6,669 Net income (loss) 25,113 92 (586 ) 24,619 Capital expenditures 4,490 308 - 4,798 The following table summarizes the amounts between the two March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Goodwill $ 4,709 $ 1,859 $ - $ 6,568 Total assets $ 297,981 $ 40,960 $ (23,538 ) $ 315,403 As of 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

Note 13 - Financing Receivables

Note 13 - Financing Receivables	6 Months Ended
	Mar. 31, 2024
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 $5,931,000 as of March 31, 2024. 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 ($13.5 million as of March 31, 2024). 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 0.75% to 1.3%. The average interest rate for the three months ended March 31, 2024, was 5.34%. The average interest rate for the six months ended March 31, 2024, was 6.53%. These agreements are indefinite with a termination notice period ranging from zero one

Note 14 - Income Taxes

Note 14 - Income Taxes	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 14. Income Taxes For the three and six months ended March 31, 2024, the Company recorded an income tax benefit of $2,083,000 and $3,034,000, reflecting an effective tax rate of 26.1% and 21.3%, respectively. The difference between the effective tax rate and the statutory tax rate for the three and six months ended March 31, 2024, was primarily due to decreased pretax book income and discrete events during the quarter, including excess tax shortfall from vesting of restricted stock. For the three and six months ended March 31, 2023, the Company recorded income tax expense of $2,974,000 and $6,669,000 reflecting an effective tax rate of 22.3% and 21.3%, respectively. The difference between the effective tax rate and the statutory tax rate for the three and six months ended March 31, 2023, was primarily related to excess tax benefits from non-qualified stock option exercises and vesting of restricted stock, Section 162(m) compensation deduction limitations, foreign derived intangibles income (FDII) deduction, and research and development credits. Deferred taxes recognize the impact of temporary differences between the amounts of the assets and liabilities recorded for financial statement purposes and these amounts measured in accordance with tax laws. The Company’s realization of deferred tax temporary differences is contingent upon future taxable earnings. The Company reviewed its deferred tax asset for expected utilization using a “more likely than not” criteria by assessing the available positive and negative factors surrounding its recoverability and determined that as of March 31, 2024, and September 30, 2023, a valuation allowance against the deferred tax assets is not required. The Company will continue to assess the need for a valuation allowance based on changes in assumptions of estimated future income and other factors in future periods. As of March 31, 2024, the Company does not

Note 15 - Leases

Note 15 - Leases	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 15. Leases The Company 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 The Company indirectly leases an approximately 318,000 square foot manufacturing facility in Tijuana, Mexico that operates as a maquiladora. The lease term commenced in March 2022 and is seven five two five The Company elected to change maquiladoras, which resulted in the landlord and the previous maquiladora terminating the lease for the facility in April 2024, and the landlord leasing the facility to the Company’s new maquiladora effective April 1, 2024. The new lease has a term of seven five two five The Company leases a 105,000 square foot warehouse in Brooklyn Park, Minnesota. The lease term commenced in March 2022 and 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. Nestor Cables leases an approximately 49,000 square foot manufacturing facility in Tabasalu, Estonia, which is utilized for the operations of Nestor Cables Baltics. Additionally, the lease grants Nestor Cables the option to lease an expansion facility that is to be constructed no later than December 2024. The expansion facility will be constructed on the same premises as the existing facility. Nestor exercised the option to lease the expansion facility and the lease term of the existing facility will be 10 years commencing December 2024. 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 the Company is reasonably certain to exercise. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants. Operating lease expense included within cost of goods sold and selling, general and administrative expense was as follows for the three and six months ended: Operating lease expense within: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Cost of sales $ 1,055 $ 995 $ 2,113 $ 1,958 Selling, general and administrative 82 63 159 119 Total lease expense $ 1,137 $ 1,058 $ 2,272 $ 2,077 Future maturities of lease liabilities were as follows as of March 31, 2024 (in thousands): FY2024(Remaining) $ 1,935 FY2025 3,964 FY2026 3,250 FY2027 1,581 FY2028 393 Thereafter 2,859 Total lease payments 13,982 Less: Interest (1,123 ) Present value of lease liabilities $ 12,859 The weighted average term and weighted average discount rate for the Company’s leases as of March 31, 2024, were 4.79 years and 3.80%, respectively, compared to 3.79 years and 3.23%, respectively, as of March 31, 2023. For the three and six months ended March 31, 2024, the operating cash outflows from the Company’s leases was $1,049,000 and $2,093,000, respectively, compared to $950,000 and $1,907,000, respectively, for the three and six months ended March 31, 2023.

Note 16 - Debt

Note 16 - Debt	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 16. Debt In April 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 March 31, 2024, the outstanding balance on the revolving line of credit was zero and the interest rate was 6.52%. 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 March 31, 2024, the Company was not in compliance with the debt to cash flow ratio covenant and has subsequently received a covenant waiver from the bank. The line of credit is collateralized by Clearfield, Inc.’s assets of $297,981,000 as of March 31, 2024. During March 2021, Nestor Cables entered into a loan agreement, providing a $2 million senior loan with a term of three

Note 17 - Subsequent Events

Note 17 - Subsequent Events	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	Note 17. Subsequent Events In April 2024, the Company terminated the lease for its approximately 318,000 square foot manufacturing facility in Tijuana, Mexico and signed a new lease for the same facility. The new lease has a term of seven five two five

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		During the quarter ended March 31, 2024, none
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying (a) consolidated balance sheet as of September 30, 2023, which has been derived from audited financial statements, and (b) unaudited interim consolidated financial statements as of and for the three and six months ended March 31, 2024 have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the consolidated financial statements include all adjustments, consisting of normal recurring accruals, necessary for a fair presentation of the financial position, results of operations, and cash flows of the interim periods presented. Operating results for the interim periods presented are not necessarily indicative of results to be expected for the full year or for any other interim period, due to variability in customer purchasing patterns, seasonality, and other factors. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023. In preparation of the Company’s consolidated financial statements, management is required to make estimates and assumptions that affect reported amounts of assets and liabilities and related revenues and expenses during the reporting periods. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of Clearfield, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements On October 1, 2023, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standard Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments, New Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Note 2 - Net Income (Loss) Pe_2

Note 2 - Net Income (Loss) Per Share (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, Six Months Ended March 31, (In thousands, except for share data 2024 2023 2024 2023 Net (loss) income $ (5,911 ) $ 10,364 $ (11,179 ) $ 24,619 Weighted average common shares 14,629,489 15,233,848 14,922,811 14,693,829 Dilutive potential common shares - 26,921 - 73,109 Weighted average dilutive common shares outstanding 14,629,489 15,260,769 14,922,811 14,766,938 Net (loss) income per common share: Basic $ (0.40 ) $ 0.67 $ (0.75 ) $ 1.68 Diluted $ (0.40 ) $ 0.67 $ (0.75 ) $ 1.67

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	(In thousands) March 31, 2024 September 30, 2023 Cash and cash equivalents: Cash, including money market accounts $ 2,893 $ 11,360 Money market funds 12,925 26,467 Total cash and cash equivalents $ 15,818 $ 37,827

Note 4 - Investments (Tables)

Note 4 - Investments (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	March 31, 2024 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S. Treasury securities $ 124,960 $ 1 $ (81 ) $ 124,880 Certificates of deposit 2,221 - (12 ) 2,209 Investment securities – short-term $ 127,181 $ 1 $ (93 ) $ 127,089 Long-Term U.S Treasury securities $ 6,737 $ - $ (442 ) $ 6,295 Certificates of deposit 248 - (20 ) 228 Investment securities – long-term $ 6,985 $ - $ (462 ) $ 6,523 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
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 $ 124,880 $ (84 ) $ 6,295 $ (438 ) Certificates of deposit 245 - 2,192 (32 ) Investment securities $ 125,125 $ (84 ) $ 8,487 $ (470 ) 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 )

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value Measurements as of March 31, 2024 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 12,925 $ 12,925 $ - $ - Total cash equivalents $ 12,925 $ 12,925 $ - $ - Investment securities: Certificates of deposit $ 2,437 $ - $ 2,437 $ - U.S. Treasury securities 131,175 - 131,175 - Total investment securities $ 133,612 $ - $ 133,612 $ - 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 $ -

Note 6 - Other Comprehensive _2

Note 6 - Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	(In thousands) Available-for-Sale Securities Foreign Currency Translation Accumulated Other Comprehensive Income (Loss) Balances at September 30, 2023 $ (682 ) $ 138 $ (544 ) Other comprehensive income for the three months ended December 31, 2023 291 729 1,020 Balances at December 31, 2023 $ (391 ) $ 867 $ 476 Other comprehensive (loss) for the three months ended March 31, 2024 (45 ) (301 ) (346 ) Balances at March 31, 2024 $ (436 ) $ 566 $ 130

Note 7 - Stock-based Compensa_2

Note 7 - Stock-based Compensation (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Six months ended March 31, 2024 Dividend yield 0.00 % Expected volatility 61.71 % Risk-free interest rate 4.55 % Expected life 3.5 years Vesting period 3 years
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of options Weighted average exercise price Outstanding as of September 30, 2023 254,124 $ 37.04 Granted 111,299 26.18 Exercised (1,501 ) 12.40 Forfeited or expired (4,345 ) 38.13 Outstanding as of March 31, 2024 359,577 $ 33.77
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, 2023 90,575 $ 49.92 Granted 136,157 26.43 Vested (37,569 ) 54.35 Forfeited (2,967 ) 31.48 Unvested as of March 31, 2024 186,196 $ 30.98

Note 8 - Revenue (Tables)

Note 8 - Revenue (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2024 2023 2024 2023 United States $ 26,963 $ 58,671 $ 54,524 $ 134,409 All other countries 9,947 13,138 16,616 23,342 Total Net Sales $ 36,910 $ 71,809 $ 71,140 $ 157,751 Three Months Ended March 31, Six Months Ended March 31, (In thousands) 2024 2023 2024 2023 Broadband service providers 93 % 96 % 93 % 97 % Other customers 7 % 4 % 7 % 3 % Total Net Sales 100 % 100 % 100 % 100 %

Note 10 - Inventories (Tables)

Note 10 - Inventories (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(In thousands) March 31, 2024 September 30, 2023 Raw materials $ 64,830 $ 73,657 Work-in-process 2,052 1,462 Finished goods 31,653 29,696 Inventories, gross 98,535 104,815 Inventory reserve (14,550 ) (6,760 ) Inventories, net $ 83,985 $ 98,055

Note 11 - Goodwill and Intang_2

Note 11 - Goodwill and Intangibles (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	(In thousands) March 31, 2024 September 30, 2023 Goodwill $ 6,568 $ 6,528 Other intangibles, net 6,219 6,092 Total goodwill and other intangibles, net $ 12,787 $ 12,620
Schedule of Goodwill [Table Text Block]	(In thousands) Clearfield, Inc. Nestor Total Balance as of September 30, 2023 $ 4,708 $ 1,820 $ 6,528 Currency translation effect on foreign goodwill balances - 40 40 Balance as of March 31, 2024 $ 4,708 $ 1,860 $ 6,568
Schedule of Finite-Lived Intangible Assets [Table Text Block]	March 31, 2024 (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships $ 4,845 $ 1,715 $ 3,130 Certifications 584 334 250 Trademarks 1,290 682 608 Patents 1,172 192 980 Developed technology 295 - 295 Other 6 6 - Software 3,292 2,336 956 Totals $ 11,484 $ 5,265 $ 6,219 September 30, 2023 (In thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships $ 4,894 $ 1,582 $ 3,312 Certifications 584 267 317 Trademarks 1,333 700 633 Patents 1,119 165 954 Developed technology 311 22 289 Other 6 6 - Software 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) Estimated amortization expense FY 2024 (remaining) $ 653 FY 2025 953 FY 2026 678 FY 2027 393 FY 2028 373 Thereafter 3,169 Total $ 6,219

Note 12 - Segment Reporting (Ta

Note 12 - Segment Reporting (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three months ended March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 27,600 $ 9,310 $ - $ 36,910 Revenue from internal customers (Clearfield, Inc.) - 218 (218 ) - Net investment income 1,906 2 (59 ) 1,849 Interest expense - 161 (59 ) 102 Depreciation and amortization 1,551 369 - 1,920 Stock based compensation 940 72 - 1,012 Income tax benefit (1,825 ) (258 ) - (2,083 ) Net income (loss) (5,001 ) (913 ) 3 (5,911 ) Capital expenditures 1,806 165 - 1,971 Six months ended March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 55,700 $ 15,440 $ - $ 71,140 Revenue from internal customers (Clearfield, Inc.) - 1,101 (1,101 ) - Net investment income 4,032 4 (118 ) 3,918 Interest expense - 346 (118 ) 228 Depreciation and amortization 2,848 724 - 3,572 Stock based compensation 2,161 123 - 2,284 Income tax benefit (2,408 ) (626 ) - (3,034 ) Net loss (8,384 ) (2,673 ) (122 ) (11,179 ) Capital expenditures 3,093 1,296 - 4,389 Three months ended March 31, 2023 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 60,451 $ 11,358 $ - $ 71,809 Revenue from internal customers (Clearfield, Inc.) - 1,737 (1,737 ) - Net investment income 1,394 1 - 1,395 Interest expense - 112 - 112 Depreciation and amortization 1,099 359 - 1,458 Stock based compensation 784 - - 784 Income taxes 2,873 101 - 2,974 Net income (loss) 10,395 402 (433 ) 10,364 Capital expenditures 2,481 98 - 2,579 Six months ended March 31, 2023 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Revenue from external customers $ 138,806 $ 18,945 $ - $ 157,751 Revenue from internal customers (Clearfield, Inc.) - 2,923 (2,923 ) - Net investment income 1,694 4 - 1,698 Interest expense 170 186 - 356 Depreciation and amortization 2,110 712 - 2,822 Stock based compensation 1,444 - - 1,444 Income taxes 6,646 23 - 6,669 Net income (loss) 25,113 92 (586 ) 24,619 Capital expenditures 4,490 308 - 4,798
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, 2024 Clearfield Nestor Cables Eliminations Consolidated (in thousands) Goodwill $ 4,709 $ 1,859 $ - $ 6,568 Total assets $ 297,981 $ 40,960 $ (23,538 ) $ 315,403 As of 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

Note 15 - Leases (Tables)

Note 15 - Leases (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Lessee, Operating Lease Expense [Table Text Block]	Operating lease expense within: (in thousands) Three Months Ended March 31, Six Months Ended March 31, 2024 2023 2024 2023 Cost of sales $ 1,055 $ 995 $ 2,113 $ 1,958 Selling, general and administrative 82 63 159 119 Total lease expense $ 1,137 $ 1,058 $ 2,272 $ 2,077
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	FY2024(Remaining) $ 1,935 FY2025 3,964 FY2026 3,250 FY2027 1,581 FY2028 393 Thereafter 2,859 Total lease payments 13,982 Less: Interest (1,123 ) Present value of lease liabilities $ 12,859

Note 2 - Net Income (Loss) Pe_3

Note 2 - Net Income (Loss) Per Share - Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net income	$ (5,911)	$ 10,364	$ (11,179)	$ 24,619
Weighted average common shares (in shares)	14,629,489	15,233,848	14,922,811	14,693,829
Dilutive potential common shares (in shares)	0	26,921	0	73,109
Weighted average dilutive common shares outstanding (in shares)	14,629,489	15,260,769	14,922,811	14,766,938
Basic (in dollars per share)	$ (0.4)	$ 0.67	$ (0.75)	$ 1.68
Diluted (in dollars per share)	$ (0.4)	$ 0.67	$ (0.75)	$ 1.67

Note 3 - Cash and Cash Equiva_3

Note 3 - Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Cash including money market accounts	$ 2,893	$ 11,360
Money market funds	12,925	26,467
Total cash and cash equivalents	$ 15,818	$ 37,827

Note 4 - Investments (Details T

Note 4 - Investments (Details Textual)	Mar. 31, 2024	Sep. 30, 2023
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	18	42

Note 4 - Investments - Availabl

Note 4 - Investments - Available-for-sale Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Fair value	$ 133,612	$ 136,629
Short-term US Treasury Securities [Member]
Amortized cost	124,960	122,534
Unrealized gains	1	0
Unrealized losses	(81)	(143)
Fair value	124,880	122,391
Short-term Certificates of Deposit [Member]
Amortized cost	2,221	8,014
Unrealized gains	0	0
Unrealized losses	(12)	(119)
Fair value	2,209	7,895
Short-term Investment [Member]
Amortized cost	127,181	130,548
Unrealized gains	1	0
Unrealized losses	(93)	(262)
Fair value	127,089	130,286
US Treasury Securities [Member]
Amortized cost		6,719
Unrealized gains		0
Unrealized losses		(596)
Fair value		6,123
Long-term Certificates of Deposit [Member]
Amortized cost	248	248
Unrealized gains	0	0
Unrealized losses	(20)	(28)
Fair value	228	220
Long-term Investment [Member]
Amortized cost	6,985	6,967
Unrealized gains	0	0
Unrealized losses	(462)	(624)
Fair value	6,523	$ 6,343
Long-term US Treasury Securities [Member]
Amortized cost	6,737
Unrealized gains	0
Unrealized losses	(442)
Fair value	$ 6,295

Note 4 - Investments - Securiti

Note 4 - Investments - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Fair value unrealized loss, less than 12 months	$ 125,125	$ 113,153
Gross unrealized loss, less than 12 months	(84)	(131)
Fair value unrealized loss, greater than 12 months	8,487	23,476
Gross unrealized loss, greater than 12 months	(470)	(755)
US Treasury Securities [Member]
Fair value unrealized loss, less than 12 months	124,880	112,908
Gross unrealized loss, less than 12 months	(84)	(131)
Fair value unrealized loss, greater than 12 months	6,295	15,606
Gross unrealized loss, greater than 12 months	(438)	(608)
Certificates of Deposit [Member]
Fair value unrealized loss, less than 12 months	245	245
Gross unrealized loss, less than 12 months	0	0
Fair value unrealized loss, greater than 12 months	2,192	7,870
Gross unrealized loss, greater than 12 months	$ (32)	$ (147)

Note 5 - Fair Value Measureme_3

Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Investment securities:	$ 133,612	$ 136,629
Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 5 - Fair Value Measureme_4

Note 5 - Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Cash equivalents	$ 12,925	$ 26,467
Investment securities:	133,612	136,629
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	12,925	26,467
Investment securities:	0	0
Fair Value, Inputs, Level 2 [Member]
Cash equivalents	0	0
Investment securities:	133,612	136,629
Fair Value, Inputs, Level 3 [Member]
Cash equivalents	0	0
Investment securities:	0	0
Money Market Funds [Member]
Cash equivalents	12,925	26,467
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash equivalents	12,925	26,467
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:	2,437	8,115
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:	2,437	8,115
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	0	0
US Treasury Securities [Member]
Investment securities:	131,175	128,514
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:	131,175	128,514
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 6 - Other Comprehensive _3

Note 6 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Balance	$ 300,095	$ 315,163	$ 293,881	$ 315,163	$ 147,582
Other comprehensive (loss)	(346)		499	674	1,665
Balance	279,208	300,095	305,399	279,208	305,399
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance	(391)	(682)		(682)
Other comprehensive (loss)	(45)	291
Balance	(436)	(391)		(436)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	867	138		138
Other comprehensive (loss)	(301)	729
Balance	566	867		566
AOCI Attributable to Parent [Member]
Balance	476	(544)	(733)	(544)	(1,898)
Other comprehensive (loss)	(346)	1,020
Balance	$ 130	$ 476	$ (234)	$ 130	$ (234)

Note 7 - Stock-based Compensa_3

Note 7 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2023
Share-Based Payment Arrangement, Expense	$ 1,012,000	$ 784,000	$ 2,284,000	$ 1,444,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	6,779,000		$ 6,779,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross			111,299	19,084
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)			5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 26.18	$ 95.06
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term (Year)			1 year 11 months 1 day
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	1,452,000		$ 1,452,000
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						10,104
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price						$ 24.72
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant						158,147
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, Award Vesting Period (Year)			5 years
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			136,157
Granted (in dollars per share)			$ 26.43
Restricted Stock [Member] | Share-Based Payment Arrangement, Employee [Member] | The 2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)			3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			136,157	34,674
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share (in dollars per share)			$ 29.63	$ 72.26
Performance Stock Units [Member]
Share-Based Payment Arrangement, Expense			$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			47,745	0
Granted (in dollars per share)			$ 26.18
Bonus Stock Award [Member] | Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			0	9,144
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share (in dollars per share)					$ 104.36
Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expense	952,000	736,000	$ 2,180,000	$ 1,361,000
Cost of Sales [Member]
Share-Based Payment Arrangement, Expense	$ 60,000	$ 48,000	$ 104,000	$ 83,000

Note 7 - Stock-based Compensa_4

Note 7 - Stock-based Compensation - Valuation Assumptions (Details)	6 Months Ended
	Mar. 31, 2024
Dividend yield	0%
Expected volatility	61.71%
Risk-free interest rate	4.55%
Expected life in years (Year)	3 years 6 months
Vesting period in years (Year)	3 years

Note 7 - Stock-based Compensa_5

Note 7 - Stock-based Compensation - Option Transaction Summary (Details) - $ / shares	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Options, outstanding (in shares)	254,124
Weighted-average exercise price, outstanding (in dollars per share)	$ 37.04
Granted (in shares)	111,299	19,084
Granted (in dollars per share)	$ 26.18	$ 95.06
Exercised (in shares)	(1,501)
Exercised (in dollars per share)	$ 12.4
Forfeited or Expired (in shares)	(4,345)
Forfeited or Expired (in dollars per share)	$ 38.13
Options, outstanding (in shares)	359,577
Weighted-average exercise price, outstanding (in dollars per share)	$ 33.77

Note 7 - Stock-based Compensa_6

Note 7 - Stock-based Compensation - Restricted Stock Transactions (Details)	6 Months Ended
	Mar. 31, 2024 $ / shares shares
Forfeited (in dollars per share)	$ 38.13
Weighted-average exercise price, outstanding (in dollars per share)	$ 33.77
Restricted Stock [Member]
Unvested shares as of September 30, 2022 (in shares) | shares	90,575
Unvested shares as of September 30, 2022 (in dollars per share)	$ 49.92
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares	136,157
Granted (in dollars per share)	$ 26.43
Vested (in shares) | shares	(37,569)
Vested (in dollars per share)	$ 54.35
Forfeited (in shares) | shares	(2,967)
Forfeited (in dollars per share)	$ 31.48
Unvested as of June 30, 2023 (in shares) | shares	186,196
Weighted-average exercise price, outstanding (in dollars per share)	$ 30.98

Note 8 - Revenue (Details Textu

Note 8 - Revenue (Details Textual) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 0	$ 79,000

Note 8 - Revenue - Disaggregati

Note 8 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Total Net Sales	$ 36,910	$ 71,809	$ 71,140	$ 157,751
Total Net Sales	100%	100%	100%	100%
Broadband Service Providers [Member]
Total Net Sales	93%	96%	93%	97%
Legacy Customers [Member]
Total Net Sales	7%	4%	7%	3%
UNITED STATES
Total Net Sales	$ 26,963	$ 58,671	$ 54,524	$ 134,409
Non-US [Member]
Total Net Sales	$ 9,947	$ 13,138	$ 16,616	$ 23,342

Note 9 - Major Customer Conce_2

Note 9 - Major Customer Concentration (Details Textual) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Revenue Benchmark [Member]
Number of Major Customers	2	1	2	1
Revenue Benchmark [Member] | One Customer [Member]
Concentration Risk, Percentage	15%	17%	17%	16%
Revenue Benchmark [Member] | Customer Two [Member]
Concentration Risk, Percentage	11%		14%
Accounts Receivable [Member]
Number of Major Customers			3		3
Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage			13%		13%
Accounts Receivable [Member] | Customer One [Member]
Concentration Risk, Percentage			15%		16%
Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk, Percentage			10%		11%

Note 10 - Inventories - Compone

Note 10 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Raw materials	$ 64,830	$ 73,657
Work-in-process	2,052	1,462
Finished goods	31,653	29,696
Inventories, gross	98,535	104,815
Inventory reserve	(14,550)	(6,760)
Inventories, net	$ 83,985	$ 98,055

Note 11 - Goodwill and Intang_3

Note 11 - Goodwill and Intangibles (Details Textual)	6 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Goodwill, Impairment Loss			$ 0
Number of Patents Granted	51
Impairment of Intangible Assets (Excluding Goodwill), Total			$ 0
Amortization of Intangible Assets	$ 663,000	$ 555,000
Patents [Member]
Finite-Lived Intangible Asset, Useful Life	20 years

Note 11 - Goodwill and Intang_4

Note 11 - Goodwill and Intangibles - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Goodwill	$ 6,568	$ 6,528
Intangible assets, net	6,219	6,092
Total goodwill and other intangibles, net	$ 12,787	$ 12,620

Note 11 - Goodwill and Intang_5

Note 11 - Goodwill and Intangibles - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 6,528
Currency translation effect on foreign goodwill balances	40
Balance	6,568
Clearfield [Member]
Balance	4,708
Currency translation effect on foreign goodwill balances	0
Balance	4,708
Nestor [Member]
Balance	1,820
Currency translation effect on foreign goodwill balances	40
Balance	$ 1,860

Note 11 - Goodwill and Intang_6

Note 11 - Goodwill and Intangibles - Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Gross carrying amount	$ 11,484	$ 10,860
Accumulated amortization	5,265	4,768
Net carrying amount	6,219	6,092
Customer Relationships [Member]
Gross carrying amount	4,845	4,894
Accumulated amortization	1,715	1,582
Net carrying amount	3,130	3,312
Certification Marks [Member]
Gross carrying amount	584	584
Accumulated amortization	334	267
Net carrying amount	250	317
Trademarks [Member]
Gross carrying amount	1,290	1,333
Accumulated amortization	682	700
Net carrying amount	608	633
Patents [Member]
Gross carrying amount	1,172	1,119
Accumulated amortization	192	165
Net carrying amount	980	954
Developed Technology Rights [Member]
Gross carrying amount	295	311
Accumulated amortization	0	22
Net carrying amount	295	289
Other Intangible Assets [Member]
Gross carrying amount	6	6
Accumulated amortization	6	6
Net carrying amount	0	0
Computer Software, Intangible Asset [Member]
Gross carrying amount	3,292	2,613
Accumulated amortization	2,336	2,026
Net carrying amount	$ 956	$ 587

Note 11 - Goodwill and Intang_7

Note 11 - Goodwill and Intangibles - Future Estimated Amortization Expense for Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
FY 2024 (remaining)	$ 653
FY 2025	953
FY 2026	678
FY 2027	393
FY 2028	373
Thereafter	3,169
Total	$ 6,219	$ 6,092

Note 12 - Segment Reporting (De

Note 12 - Segment Reporting (Details Textual)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Number of Reportable Segments	2	2

Note 12 - Segment Reporting - R

Note 12 - Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue from external customers	$ 36,910,000	$ 71,809,000	$ 71,140,000	$ 157,751,000
Revenue from internal customers (Clearfield, Inc.)	0	0	0	0
Net investment income	1,849,000	1,395,000	3,918,000	1,698,000
Interest expense	102,000	112,000	228,000	356,000
Depreciation and amortization	1,920,000	1,458,000	3,572,000	2,822,000
Stock based compensation	1,012,000	784,000	2,284,000	1,444,000
Income taxes	(2,083,000)	2,974,000	(3,034,000)	6,669,000
Net loss	(5,911,000)	10,364,000	(11,179,000)	24,619,000
Capital expenditures	1,971,000	2,579,000	4,389,000	4,798,000
Intersegment Eliminations [Member]
Revenue from external customers	0	0	0	0
Revenue from internal customers (Clearfield, Inc.)	(218,000)	(1,737,000)	(1,101,000)	(2,923,000)
Net investment income	(59,000)	0	(118,000)	0
Interest expense	(59,000)	0	(118,000)	0
Depreciation and amortization	0	0	0	0
Stock based compensation	0	0	0	0
Income taxes	0	0	0	0
Net loss	3,000	(433,000)	(122,000)	(586,000)
Capital expenditures	0	0	0	0
Clearfield [Member] | Operating Segments [Member]
Revenue from external customers	27,600,000	60,451,000	55,700,000	138,806,000
Revenue from internal customers (Clearfield, Inc.)	0	0	0	0
Net investment income	1,906,000	1,394,000	4,032,000	1,694,000
Interest expense	0	0	0	170,000
Depreciation and amortization	1,551,000	1,099,000	2,848,000	2,110,000
Stock based compensation	940,000	784,000	2,161,000	1,444,000
Income taxes	(1,825,000)	2,873,000	(2,408,000)	6,646,000
Net loss	(5,001,000)	10,395,000	(8,384,000)	25,113,000
Capital expenditures	1,806,000	2,481,000	3,093,000	4,490,000
Nestor Cables [Member] | Operating Segments [Member]
Revenue from external customers	9,310,000	11,358,000	15,440,000	18,945,000
Revenue from internal customers (Clearfield, Inc.)	218,000	1,737,000	1,101,000	2,923,000
Net investment income	2,000	1,000	4,000	4,000
Interest expense	161,000	112,000	346,000	186,000
Depreciation and amortization	369,000	359,000	724,000	712,000
Stock based compensation	72,000	0	123,000	0
Income taxes	(258,000)	101,000	(626,000)	23,000
Net loss	(913,000)	402,000	(2,673,000)	92,000
Capital expenditures	$ 165,000	$ 98,000	$ 1,296,000	$ 308,000

Note 12 - Segment Reporting -_2

Note 12 - Segment Reporting - Reconciliation of Assets from Segments to Consolidated (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Goodwill	$ 6,568	$ 6,528
Total assets	315,403	355,517
Clearfield [Member]
Goodwill	4,708	4,708
Operating Segments [Member] | Clearfield [Member]
Goodwill	4,709	4,709
Total assets	297,981	335,412
Operating Segments [Member] | Nestor Cables [Member]
Goodwill	1,859	1,819
Total assets	40,960	43,550
Intersegment Eliminations [Member]
Goodwill	0	0
Total assets	$ (23,538)	$ (23,445)

Note 13 - Financing Receivabl_2

Note 13 - Financing Receivables (Details Textual) € in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Sep. 30, 2023 USD ($)
Factoring Liabilities	$ 5,931,000	$ 5,931,000		$ 6,289,000
Financing Receivables, Percentage of Cash Initially Received	80%	80%	80%
Financing Receivable, Percentage of Balance Received When Invoice is Paid	20%	20%	20%
Financing Receivable, Limit	$ 13,500,000	$ 13,500,000	€ 12.5
Financing Receivable, Average Interest Rate During Period	5.34%	6.53%
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		0.75%
Euribor [Member] | Maximum [Member]
Financing Receivable, Interest Rate, Basis Spread on Variable Rate		1.30%

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Expense (Benefit)	$ (2,083,000)	$ 2,974,000	$ (3,034,000)	$ 6,669,000
Effective Income Tax Rate Reconciliation, Percent, Total	26.10%	22.30%	21.30%	21.30%
Unrecognized Tax Benefits, Ending Balance	$ 0		$ 0

Note 15 - Leases (Details Textu

Note 15 - Leases (Details Textual)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

Apr. 01, 2024 EUR (€)

May 01, 2023 EUR (€)

Jul. 31, 2021 USD ($) ft²

Apr. 30, 2024 USD ($) ft²

Mar. 31, 2024 USD ($) ft²

Mar. 31, 2023 USD ($)

Mar. 31, 2024 USD ($) ft²

Mar. 31, 2023 USD ($)

Jun. 30, 2023 EUR (€) ft²

May 11, 2023 ft²

Nov. 19, 2021 ft²

Jan. 01, 2015

Operating Lease, Weighted Average Remaining Lease Term

4 years 9 months 14 days

3 years 9 months 14 days

4 years 9 months 14 days

3 years 9 months 14 days

Operating Lease, Weighted Average Discount Rate, Percent

3.80%

3.23%

3.80%

3.23%

Operating Lease, Payments | $

$ 1,049,000

$ 950,000

$ 2,093,000

$ 1,907,000

Tabasalu, Estonia [Member]

Area of Real Estate Property

49,000

Lessee, Operating Lease, Term of Contract (Year)

10 years

Operating Lease, Monthly Payment | €

€ 25,000

€ 20,400

Tabasalu, Estonia [Member] | Minimum [Member]

Operating Lease, Payments, Annual Increase, Percentage

5%

7050 Winnetka Avenue North, Brooklyn Park, Minnesota [Member]

Area of Real Estate Property

85,000

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, Term of Contract (Year)

7 years

Lessee, Operating Lease, Number of Options to Renew

2

Lessee, Operating Lease, Renewal Term

5 years

Operating Lease, Monthly Payment | $

$ 162,000

Operating Lease, Payments, Annual Increase, Percentage

2%

Tijuana, Mexico 3 [Member] | Subsequent Event [Member]

Area of Real Estate Property

318,000

Lessee, Operating Lease, Term of Contract (Year)

7 years

Lessee, Operating Lease, Number of Options to Renew

2

Lessee, Operating Lease, Renewal Term

5 years

Operating Lease, Monthly Payment | $

$ 169,000

Operating Lease, Payments, Annual Increase, Percentage

2%

Tijuana, Mexico 3 [Member] | Lease Mandatory Contractual Term [Member]

Lessee, Operating Lease, Term of Contract (Year)

5 years

Tijuana, Mexico 3 [Member] | Lease Mandatory Contractual Term [Member] | Subsequent Event [Member]

Lessee, Operating Lease, Term of Contract (Year)

5 years

Brooklyn Part, MN [Member]

Area of Real Estate Property

105,000

Lessee, Operating Lease, Term of Contract (Year)

5 years

Lessee, Operating Lease, Renewal Term

5 years

Oulu, Finland [Member]

Area of Real Estate Property

25,000

Operating Lease, Monthly Payment | €

€ 40,000

Note 15 - Leases - Operating Le

Note 15 - Leases - Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Total lease expense	$ 1,137	$ 1,058	$ 2,272	$ 2,077
Cost of Sales [Member]
Total lease expense	1,055	995	2,113	1,958
Selling, General and Administrative Expenses [Member]
Total lease expense	$ 82	$ 63	$ 159	$ 119

Note 15 - Leases - Maturities o

Note 15 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
FY2024(Remaining)	$ 1,935
FY2025	3,964
FY2026	3,250
FY2027	1,581
FY2028	393
Thereafter	2,859
Total lease payments	13,982
Less: Interest	(1,123)
Present value of lease liabilities	$ 12,859

Note 16 - Debt (Details Textual

Note 16 - Debt (Details Textual) - USD ($)		1 Months Ended	6 Months Ended
	Apr. 01, 2022	Mar. 31, 2021	Mar. 31, 2024
Loan Agreement, Nestor Cables [Member] | Senior Loans [Member]
Debt Instrument, Face Amount		$ 2,000,000
Debt Instrument, Term (Year)		3 years
NESA [Member] | Senior Loans [Member]
Debt Instrument, Covenant, Interest Payment Cap		5%
Debt Instrument, Covenant, Interest Penalty		2%
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%
Long-Term Line of Credit			$ 0
Debt Instrument, Interest Rate During Period			6.52%
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio	1.2
Debt Instrument, Covenant, Maximum Debt to Cash Flow Ratio	2
Debt Instrument, Collateral Amount			$ 297,981,000
Revolving Credit Facility [Member] | Loan and Security Agreement With Bremer Bank, National Association [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.85%

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual)		1 Months Ended
	Jul. 31, 2021 USD ($) ft²	Apr. 30, 2024 USD ($) ft²	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)
Operating Lease, Right-of-Use Asset			$ 12,394,000	$ 13,861,000
Operating Lease, Liability			$ 12,859,000
Subsequent Event [Member] | Old Lease For Facility in Tijuana, Mexico [Member]
Operating Lease, Right-of-Use Asset		$ 5,764,000
Operating Lease, Liability		5,764,000
Subsequent Event [Member] | New Lease For Facility in Tijuana, Mexico [Member]
Operating Lease, Right-of-Use Asset		8,637,000
Operating Lease, Liability		$ 8,637,000
Tijuana, Mexico 3 [Member]
Area of Real Estate Property | ft²	318,000
Lessee, Operating Lease, Term of Contract (Year)	7 years
Lessee, Operating Lease, Number of Options to Renew	2
Lessee, Operating Lease, 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, Term of Contract (Year)	5 years
Tijuana, Mexico 3 [Member] | Subsequent Event [Member]
Area of Real Estate Property | ft²		318,000
Lessee, Operating Lease, Term of Contract (Year)		7 years
Lessee, Operating Lease, Number of Options to Renew		2
Lessee, Operating Lease, Renewal Term		5 years
Operating Lease, Monthly Payment		$ 169,000
Operating Lease, Payments, Annual Increase, Percentage		2%
Tijuana, Mexico 3 [Member] | Subsequent Event [Member] | Lease Mandatory Contractual Term [Member]
Lessee, Operating Lease, Term of Contract (Year)		5 years