Clearfield (CLFD) 10-K 15 Nov 24 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2024	Nov. 08, 2024	Mar. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 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, City or Town	Brooklyn Park
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55428
City Area Code	763
Local Phone Number	476-6866
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CLFD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 371,193,447
Entity Common Stock, Shares Outstanding (in shares)		14,288,607
Auditor Firm ID	23
Auditor Name	Baker Tilly, US, LLP
Auditor Location	Minneapolis, Minnesota
Entity Central Index Key	0000796505
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Cash and cash equivalents	$ 16,167,000	$ 37,827,000
Short-term investments	114,825,000	130,286,000
Accounts receivables, net	21,309,000	28,392,000
Inventories, net	66,766,000	98,055,000
Other current assets	10,528,000	1,695,000
Total current assets	229,595,000	296,255,000
Property, plant and equipment, net	23,953,000	21,527,000
Long-term investments	24,505,000	6,343,000
Goodwill	6,627,000	6,528,000
Intangible assets, net	6,343,000	6,092,000
Right-of-use lease assets	15,797,000	13,861,000
Deferred tax asset	6,135,000	3,039,000
Other	2,320,000	1,872,000
Total other assets	61,727,000	37,735,000
Total Assets	315,275,000	355,517,000
Current portion of lease liability	3,357,000	3,737,000
Debt	0	2,112,000
Accounts payable	6,720,000	8,891,000
Accrued compensation	6,977,000	5,571,000
Accrued expenses	4,378,000	2,404,000
Factoring liability	2,920,000	6,289,000
Total current liabilities	24,352,000	29,004,000
Long-term debt	2,228,000	0
Long-term portion of lease liability	12,771,000	10,629,000
Deferred tax liability	161,000	721,000
Total liabilities	39,512,000	40,354,000
Preferred stock, $.01 par value; 500,000 shares; no shares issued or outstanding	$ 0	$ 0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized 50,000,000, $.01 par value; 15,254,725 and 13,818,452 shares issued and outstanding as of September 30, 2023 and 2022, respectively	$ 142,000	$ 153,000
Additional paid-in capital	159,580,000	188,218,000
Accumulated other comprehensive loss	(1,079,000)	544,000
Retained earnings	114,962,000	127,336,000
Total shareholders’ equity	275,763,000	315,163,000
Total Liabilities and Shareholders’ Equity	$ 315,275,000	$ 355,517,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Sep. 30, 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
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)	14,229,107	15,254,725
Common Stock, Shares, Outstanding (in shares)	14,229,107	15,254,725

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 166,705	$ 268,720	$ 270,883
Cost of sales	137,816	183,441	157,936
Gross profit	28,889	85,279	112,947
Selling, general and administrative	52,111	47,992	49,130
Income from operations	(23,222)	37,287	63,817
Net investment income	7,472	5,206	328
Interest expense	(506)	(881)	(311)
Income before income taxes	(16,256)	41,612	63,834
Income tax expense	(3,803)	9,079	14,472
Net income	$ (12,453)	$ 32,533	$ 49,362
Net income per share Basic (in dollars per share)	$ (0.85)	$ 2.17	$ 3.58
Net income per share Diluted (in dollars per share)	$ (0.85)	$ 2.17	$ 3.55
Weighted average shares outstanding:
Basic (in shares)	14,582,450	14,975,972	13,771,665
Diluted (in shares)	14,582,450	15,012,527	13,905,984

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Net income	$ (12,453)	$ 32,533	$ 49,362
Unrealized gain (loss) on available-for-sale investments	748	542	(1,590)
Unrealized gain on foreign currency translation	875	812	(308)
Total other comprehensive income (loss)	1,623	1,354	(1,898)
Total comprehensive income	$ (10,830)	$ 33,887	$ 47,464

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ 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
Adoption of new accounting pronouncement		$ 137		$ 58,246		$ 0		$ 45,441		$ 103,824
Balance as of September 30, 2021 (in shares) at Sep. 30, 2021		13,732
Balance as of September 30, 2021 at Sep. 30, 2021		$ 137		58,246		0		45,441		103,824
Stock-based compensation expense		$ 0		2,339		0		0		2,339
Issuance of common stock under equity compensation plans, net (in shares)		26
Issuance of common stock under equity compensation plans, net		$ 0		0		0		0		0
Issuance of common stock under employee stock purchase plan (in shares)		13
Issuance of common stock under employee stock purchase plan		$ 0		544		0		0		544
Exercise of stock options, net of shares exchanged for payment (in shares)		60
Exercise of stock options, net of shares exchanged for payment		$ 1		(5,184)		0		0		(5,183)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		(13)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(1,406)		0		0		(1,406)
Other comprehensive loss		0		0		(1,898)		0		(1,898)
Net income		$ 0		0		0		49,362		49,362
Balance (in shares) at Sep. 30, 2022		13,818
Balance at Sep. 30, 2022		$ 138		54,539		(1,898)		94,803		147,582
Adoption of new accounting pronouncement		138		54,539		(1,898)		94,803		147,582
Stock-based compensation expense		$ 0		3,578		0		0		3,578
Issuance of common stock under equity compensation plans, net (in shares)		49
Issuance of common stock under equity compensation plans, net		$ 0		954		0		0		954
Issuance of common stock under employee stock purchase plan (in shares)		13
Issuance of common stock under employee stock purchase plan		$ 0		611		0		0		611
Exercise of stock options, net of shares exchanged for payment (in shares)		11
Exercise of stock options, net of shares exchanged for payment		$ 0		(491)		0		0		(491)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		(17)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(1,220)		0		0		(1,220)
Other comprehensive loss		0		0		1,354		0		1,354
Net income		$ 0		0		0		32,533		32,533
Issuance of common stock, net (in shares)		1,380
Issuance of common stock, net		$ 15		130,247		0		0		130,262
Balance (in shares) at Sep. 30, 2023		15,254
Balance at Sep. 30, 2023		$ 153		188,218		(544)		127,336		315,163
Adoption of new accounting pronouncement		153		188,218		(544)		127,336		315,163
Stock-based compensation expense		$ 0		4,641		0		0		4,641
Issuance of common stock under equity compensation plans, net (in shares)		130
Issuance of common stock under equity compensation plans, net		$ 1		(1)		0		0		0
Issuance of common stock under employee stock purchase plan (in shares)		24
Issuance of common stock under employee stock purchase plan		$ 0		586		0		0		586
Exercise of stock options, net of shares exchanged for payment (in shares)		1
Exercise of stock options, net of shares exchanged for payment		$ 0		(9)		0		0		(9)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants (in shares)		(16)
Repurchase of shares for payment of withholding taxes for vested restricted stock grants		$ 0		(493)		0		0		(493)
Repurchase of common stock (in shares)		(1,164)
Repurchase of common stock		$ (12)		(33,362)						(33,374)
Other comprehensive loss		0		0		1,623		0		1,623
Net income		$ 0		0		0		(12,453)		(12,453)
Balance (in shares) at Sep. 30, 2024		14,229
Balance at Sep. 30, 2024	$ 0	$ 142	$ 0	159,580	$ 0	1,079	$ 79	114,962	$ 79	275,763
Adoption of new accounting pronouncement	$ 0	$ 142	$ 0	$ 159,580	$ 0	$ 1,079	$ 79	$ 114,962	$ 79	$ 275,763

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income	$ (12,453)	$ 32,533	$ 49,362
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,411	6,054	3,426
Amortization of discount on investments	4,406	3,512	42
Deferred taxes	(4,078)	(2,114)	(326)
Stock-based compensation	4,641	3,578	2,339
Accounts receivable	7,799	26,277	(24,234)
Inventories, net	31,990	(15,083)	(43,744)
Other assets	(9,225)	(1,466)	(282)
Accounts payable and accrued expenses	544	(27,843)	15,759
Net cash provided by operating activities	22,223	18,424	2,258
Cash flows from investing activities
Purchases of property, plant and equipment and intangible assets	(9,567)	(8,384)	(9,148)
Purchases of investments	(159,393)	(210,923)	(248)
Proceeds from sales and maturities of investments	162,064	107,060	17,386
Business acquisition, net of cash acquired	0	0	(16,187)
Net cash used in investing activities	(6,896)	(112,247)	(8,197)
Cash flows from financing activities
Issuance of long-term debt	2,171	(16,700)	16,700
Repayment of long-term debt	(2,171)	0	0
Proceeds from issuance of common stock under employee stock purchase plan	586	611	544
Repurchase of shares for payment of withholding taxes for vested restricted stock grants	(493)	(1,220)	(1,406)
Withholding related to exercise of stock options	(9)	(491)	(5,183)
Issuance of stock under equity compensation plans	1	954	0
Net borrowings and repayments of factoring liability	(3,617)	1,586	(1,258)
Net proceeds from issuance of common stock	0	130,262	0
Repurchase of common stock	(33,374)	0	0
Net cash provided by (used in) financing activities	(36,906)	115,002	9,397
Effect of exchange rates on cash	(81)	(2)	(24)
Increase (decrease) in cash and cash equivalents	(21,660)	21,177	3,434
Cash and cash equivalents, beginning of year	37,827	16,650	13,216
Cash and cash equivalents, end of year	16,167	37,827	16,650
Supplemental disclosures for cash flow information
Cash paid during the year for income taxes	159	12,967	13,744
Cash paid for interest	394	463	119
Right of use assets obtained through lease liabilities	4,731	3,776	12,016
Non-cash financing activities
Cashless exercise of stock options	$ 19	$ 566	$ 1,624

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Summary of Significant Accounting Policies Description of Business: We are engaged in global operations. Our operations currently comprise of two reportable segments: the Clearfield segment, (referred to herein as “Clearfield”) and, since July 26, 2022, the Nestor Cables segment (referred to herein as “Nestor Cables” or “Nestor”). Prior to July 26, 2022, we were considered to be in a single operating segment structure. The Company’s products include fiber distribution systems, optical components, Outside Plant (“OSP”) cabinets, and fiber and copper cable assemblies that serve the communication service provider markets, including Fiber-to-the-Premises (“FTTP”), large enterprise, and original equipment manufacturer (“OEM”) markets. Principles of Consolidation: Revenue Recognition: Cash and Cash Equivalents: (In thousands) September 30, 2024 September 30, 2023 Cash and cash equivalents: Cash, including money market accounts $ 5,789 $ 11,360 Money market funds 10,378 26,467 Total cash and cash equivalents $ 16,167 $ 37,827 The Company maintains cash balances at multiple financial institutions, and at times, such balances exceeded insured limits. The Company has not experienced any losses in such accounts. Investments: Foreign Currency Translation: Comprehensive Income (Loss): Fair Value of Financial Instruments: Accounts Receivable: As of September 30, 2023, and 2022, 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. Inventories: September 30, 2024 September 30, 2023 (In thousands) Raw materials $ 56,842 $ 73,657 Work-in-process 1,790 1,462 Finished goods 23,389 29,696 Inventories, gross 82,021 104,815 Inventory reserve (15,255 ) (6,760 ) Inventories, net $ 66,766 $ 98,055 On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. A reserve is established for any identified excess, slow moving, and obsolete inventory through a charge to cost of sales. Inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly, if new products are not accepted by the market, or if products are end of life through life cycle management. Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 –15 Leasehold improvements 7-10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: (In thousands) September 30, 2024 September 30, 2023 Manufacturing equipment $ 27,302 $ 23,580 Office equipment 4,559 4,560 Leasehold improvements 6,347 6,107 Vehicles 439 446 Construction in progress 6,287 2,447 Property, plant and equipment, gross 44,934 37,140 Less accumulated depreciation 20,981 15,613 Property, plant and equipment, net $ 23,953 $ 21,527 Depreciation expense for the years ended September 30, 2024, 2023, and 2022 was $5,815,000, $4,915,000, and $2,647,000, respectively. Goodwill and Intangible Assets: If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative test that compares the fair value to its carrying value to determine the amount of any impairment. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit’s recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No Capitalized software The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2024, the Company has 53 patents granted and multiple pending applications both inside and outside the United States. In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of the active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 and the acquisition of Nestor Cables as of July 26, 2022. Refer to Note 11 for further information regarding the acquisition of Nestor Cables. The changes in the carrying amount of goodwill by reportable segment for the fiscal year 2024 were as follows: (In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528 Currency translation effect on foreign goodwill balances - 99 99 Balance as of September 30, 2024 $ 4,709 $ 1,918 $ 6,627 The changes in the carrying amount of goodwill by reportable segment for the fiscal year 2023 were as follows: (In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2022 $ 4,709 $ 1,693 $ 6,402 Currency translation effect on foreign goodwill balances - 126 126 Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528 Finite life intangible assets as of September 30, 2024, and 2023 are as follows: September 30, 2024 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,856 $ 1,815 $ 3,041 Certifications 8 1,068 884 184 Trademarks 8-10 1,120 588 532 Patents 20 1,302 219 1,083 Developed Technology 10 346 75 271 Other 5 6 6 - Software 1-3 3,475 2,243 1,232 Totals $ 12,173 $ 5,830 $ 6,343 September 30, 2023 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 Amortization expense related to these assets for the years ended September 30, 2024, 2023, and 2022 was $1,567,000, $1,128,000, and $766,000, respectively. Our future estimated amortization expense for intangibles is as follows as of September 30, 2024: (In thousands) Estimated amortization expense FY 2025 $ 1,480 FY 2026 763 FY 2027 551 FY 2028 463 FY 2029 444 Thereafter 2,642 Total $ 6,343 Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2024, and 2023, the Company did not Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods. Share Repurchase Program: The Company is authorized to issue 50,000,000 shares of common stock at $ .01 Research and Development Costs Advertising Costs Net (Loss) Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2024, 2023, and 2022 were as follows: Year ended September 30, ( In thousands except share data 2024 2023 2022 Net (loss) income $ (12,453 ) $ 32,533 $ 49,362 Weighted average common shares 14,582,450 14,975,972 13,771,665 Dilutive potential common shares - 36,555 134,319 Weighted average dilutive common shares outstanding 14,582,450 15,012,527 13,905,984 (Losses) Earnings per share: Basic $ (0.85 ) $ 2.17 $ 3.58 Diluted $ (0.85 ) $ 2.17 $ 3.55 There were no Use of Estimates: Reclassification: Recently Adopted Accounting Pronouncements: Measurement of Credit Losses on Financial Instruments New Accounting Pronouncements Not Yet Adopted: Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In March 2024, the SEC adopted rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors

Note 2 - Stock Based Compensati

Note 2 - Stock Based Compensation	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 2. Stock Based Compensation Stock-Based Compensation: On February 23, 2023, the Company’s shareholders approved the Clearfield, Inc. 2022 Stock Compensation Plan (the “2022 Plan”). The 2022 Plan became effective on the date of shareholder approval, and no further awards may be made under the Clearfield, Inc. Amended and Restated 2007 Stock Compensation Plan (the “Prior Plan”) following the effective date of the 2022 Plan. The total number of shares of stock reserved and available for distribution under the 2022 Plan upon approval was 1,461,461 shares, which includes the number of shares remaining for grant and delivery under the Prior Plan, plus any shares subject to outstanding awards under the Prior Plan as of the effective date of the 2022 Plan that were forfeited, cancelled, or settled for cash. As of September 30, 2024, $4,989,000 of total unrecognized compensation expense related to non-vested awards is expected to be recognized over a period of approximately 2.1 years. The Company recorded related compensation expense for the years ended September 30, 2024, 2023, and 2022 of $4,641,000, $3,578,000, and $2,339,000, respectively. For the year ended September 30, 2024, $4,432,000 of this expense was included in selling, general and administrative expense and $209,000 was included in cost of sales. For the year ended September 30, 2023, $3,407,000 of this expense was included in selling, general and administrative expense and $171,000 was included in cost of sales. For the year ended September 30, 2022, $2,213,000 of this expense was included in selling, general and administrative expense and $126,000 was included in cost of sales. Stock Options: five three five three five three The fair value of stock option awards during the year ended September 30, 2024, 2023, and 2022 was estimated as of the respective grant dates using the assumptions listed below: Year ended September 30, 2024 Year ended September 30, 2023 Year ended September 30, 2022 Dividend yield 0 % 0 % 0 % Weighted average expected volatility 61.66 % 63.14 % 52.02 % Weighted average risk-free interest rate 4.55 % 3.75 % 0.97 % Weighted average expected life (years) 5 5 5 Vesting period (years) 3 3 3 The expected stock price volatility is based on the historical volatility of the Company’s stock for a period approximating the expected life. The expected life represents the period of time that options are expected to be outstanding after their grant date. The risk-free interest rate reflects the interest rate at grant date on zero-coupon U.S. governmental bonds having a remaining life similar to the expected option term. Options are generally granted at fair market values determined on the date of grant and vesting normally occurs over a three five six Option transactions under the 2022 Plan during the years ended September 30, 2024, and 2023 and under the Prior Plan for the year ended September 30, 2022, are summarized as follows: Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2021 301,514 $ 16.25 Granted 62,730 66.48 $ 25.54 Exercised (125,651 ) 12.92 Forfeited and expired (2,084 ) 19.94 Outstanding as of September 30, 2022 236,509 $ 31.30 Granted 40,266 64.38 $ 30.83 Exercised (21,630 ) 26.16 Forfeited and expired (1,021 ) 18.18 Outstanding as of September 30, 2023 254,124 $ 37.04 Granted 118,706 26.84 $ 12.96 Exercised (1,501 ) 12.40 Forfeited and expired (4,345 ) 38.13 Outstanding as of September 30, 2024 366,984 $ 33.83 The following table summarizes information concerning options exercisable under the 2022 Plan and the Prior Plan as of the years ended September 30, 2024, 2023 and 2022: As of Year Ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2024 181,455 1.50 $ 32.65 $ 5,924 September 30, 2023 97,056 2.28 $ 28.13 $ 2,731 September 30, 2022 39,276 2.78 $ 20.26 $ 3,314 The following table summarizes information concerning options currently outstanding at: As of Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2024 366,984 2.51 $ 33.83 $ 12,414 September 30, 2023 254,124 2.72 $ 37.04 $ 9,413 September 30, 2022 236,509 3.22 $ 31.30 $ 17,343 Restricted Stock: one ten Restricted stock transactions during the years ended September 30, 2024, 2023, and 2022 are summarized as follows: Number of shares Weighted average grant date fair value Unvested shares as of September 30, 2021 108,839 $ 17.14 Granted 29,512 65.90 Vested (37,094 ) 17.78 Forfeited (2,749 ) 16.84 Unvested shares as of September 30, 2022 98,508 $ 31.51 Granted 41,492 70.50 Vested (47,869 ) 30.98 Forfeited (1,556 ) 15.61 Unvested shares as of September 30, 2023 90,575 $ 49.92 Granted 137,928 26.65 Vested (58,559 ) 39.60 Forfeited (7,737 ) 27.84 Unvested shares as of September 30, 2024 162,207 $ 34.91 The fair value of restricted shares vested during the year end September 30, 2024, 2023, and 2022 was $1,796,000, $3,141,000, and $3,744,000 respectively. The Company repurchased a total of 15,879 shares of our common stock at an average price of $31.05 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2024. The Company repurchased a total of 12,862 shares of our common stock at an average price of $62.20 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2023. The Company repurchased a total of 13,292 shares of our common stock at an average price of $105.78 in connection with payment of taxes upon the vesting of restricted stock previously issued to employees for the year ended September 30, 2022. Performance Stock Units: Compensation expense for the performance stock units is measured using the fair value of our common stock at the grant date. For the fiscal year September 30, 2024, the performance goal was not achieved and previously recognized compensation expense related to these awards has been reversed to $0. Bonus Stock: No Employee Stock Purchase Plan:

Note 3 - Investments

Note 3 - Investments	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Investment [Text Block]	Note 3. Investments The Company invests in CDs in amounts that are fully insured by the FDIC and Treasuries with terms of not more than five years, as well as money market funds. During the second quarter of fiscal 2022, the Company sold investments and has reclassified its investment portfolio to available-for-sale, which is reported at fair value. The unrealized gain or loss on investment securities is recorded in other comprehensive income (loss), net of tax. Realized gains and losses on available-for-sale securities are recognized upon sale and are included in net investment income in the consolidated statement of earnings. The Company did not As of September 30, 2024, available-for-sale investments consist of the following: September 30, 2024 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S treasury securities $ 113,987 $ 382 $ (45 ) $ 114,324 Certificates of deposit 500 1 - 501 Investment securities – short-term $ 114,487 $ 384 $ (45 ) $ 114,825 Long-Term U.S treasury securities $ 24,514 $ - $ (245 ) $ 24,269 Certificates of deposit 248 - (12 ) 236 Investment securities – long-term $ 24,762 $ - $ (257 ) $ 24,505 As of September 30, 2023, available-for-sale investments consisted of the following: September 30, 2023 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S treasury securities $ 122,534 $ - $ (143 ) $ 122,391 Certificates of deposit 8,014 - (119 ) 7,895 Investment securities – short-term $ 130,548 $ - $ (262 ) $ 130,286 Long-Term U.S treasury securities $ 6,719 $ - $ (596 ) $ 6,123 Certificates of deposit 248 - (28 ) 220 Investment securities – long-term $ 6,967 $ - $ (624 ) $ 6,343 As of September 30, 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 $ 19,719 $ (39 ) $ 6,500 $ (250 ) Certificates of deposit - - 236 (12 ) Investment securities $ 19,719 $ (39 ) $ 6,736 $ (262 ) As of September 30, 2023, investments in debt securities in an unrealized loss position were as follows: In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months (In thousands) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses U.S treasury securities $ 112,908 $ (131 ) $ 15,606 $ (608 ) Certificates of deposit 245 - 7,870 (147 ) Investment securities $ 113,153 $ (131 ) $ 23,476 $ (755 ) As of September 30, 2024, and 2023, there were six no

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4. Fair Value Measurements The Company determines the fair value of its assets and liabilities based on the market price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company determines the fair value of Treasuries and CDs based on valuations provided by an external pricing service, which obtains them from a variety of industry standard data providers. The Company’s investments are categorized according to the three-level fair value hierarchy which distinguishes between observable and unobservable inputs, in one of the following levels: Level 1- Quoted prices in active markets for identical assets or liabilities. Level 2- Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3- Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those with fair value measurements that are determined using pricing models, discounted cash flow valuation or similar techniques, as well as significant management judgment or estimation. The following provides information regarding fair value measurements for the Company’s investment securities as of September 30, 2024, according to the three-level fair value hierarchy: Fair Value Measurements as of September 30, 2024 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 10,378 $ 10,378 $ - $ - Total cash equivalents $ 10,378 $ 10,378 $ - $ - Investment securities: U.S. Treasury securities $ 138,592 $ - $ 138,592 $ - Certificates of deposit 738 - 738 - Total investment securities $ 139,330 $ - $ 139,330 $ - During the year ended September 30, 2024, we owned no Non-financial assets such as equipment and leasehold improvements, goodwill and intangible assets and right-of-use assets for operating leases are subject to non-recurring fair value measurements if they are deemed impaired. We had no re-measurements of non-financial assets to fair value in the years-end September 30, 2024, 2023 and 2022. 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 $ -

Note 5 - Other Comprehensive In

Note 5 - Other Comprehensive Income (Loss)	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	Note 5. Other Comprehensive Income (Loss) Changes in components of other comprehensive income (loss), net of tax, are as follows: (In thousands) Available-for-Sale Securities Foreign Currency Translation Accumulated Other Comprehensive Loss Balances at September 30, 2022 $ (1,224 ) $ (674 ) $ (1,898 ) Other comprehensive income for the twelve months ended September 30, 2023 542 812 1,354 Balances at September 30, 2023 $ (682 ) $ 138 $ (544 ) Other comprehensive income for the twelve months ended September 30, 2024 748 875 1,623 Balances at September 30, 2024 $ 66 $ 1,013 $ 1,079

Note 6 - Income Taxes

Note 6 - Income Taxes	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 6. Income Taxes Components of income tax expense are as follows for the years ended: September 30, September 30, September 30, ( In thousands 2024 2023 2022 Current: Federal $ 385 $ 9,449 $ 13,230 State (114 ) 1,435 1,532 Foreign 4 144 48 Current income tax expense 275 11,028 14,810 Deferred: Federal (3,092 ) (1,751 ) (509 ) State (427 ) (251 ) 6 Foreign (559 ) 53 165 Deferred income tax expense (4,078 ) (1,949 ) (334 ) Income tax expense $ (3,803 ) $ 9,079 $ 14,472 The following is a reconciliation of the federal statutory income tax rate to the effective tax rate as a percent of pre-tax income for the following years ended: September 30, September 30, September 30, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes 3.9 % 2.8 % 2.1 % Foreign income taxes (1.5% ) (0.1% ) 0.4 % Permanent differences 0.0 % 0.8 % 4.6 % Research and development credits 0.8 % (1.0% ) (0.5% ) Excess tax benefits from stock-based compensation (0.8% ) (1.7% ) (4.9% ) Effective Tax rate 23.4 % 21.8 % 22.7 % As of September 30, 2024, the current U.S. income tax payable was approximately $30,000 and the foreign income tax receivable was approximately $5,000, these amounts are included in the other current assets and other current liabilities in the Company’s consolidated balance sheet. Current income tax payable amounts are included in accrued expenses in the Company’s consolidated balance sheets. As of September 30, 2024, and 2023, the Company had no no not Significant components of deferred income tax assets and liabilities are as follows at: September 30, September 30, (In thousands) 2024 2023 Inventories $ 4,241 $ 2,154 R&D expenses 1,328 832 Stock-based compensation 1,042 600 Accrued expenses and reserves 427 515 Property and equipment depreciation 4 (683 ) Net operating loss carry forwards and credits 726 201 Foreign currency translation loss - - Total deferred tax asset $ 7,768 $ 3,619 Goodwill (1,146 ) (1,123 ) Unrealized loss on investments (16 ) 204 Prepaid expenses (141 ) (193 ) Intangibles (254 ) (153 ) Foreign currency translation gain (238 ) (36 ) Total deferred tax liability $ (1,795 ) $ (1,301 ) Net deferred tax asset $ 5,973 $ 2,318 Realization of NOL carryforwards and other deferred tax temporary differences are contingent upon future taxable earnings. The deferred tax assets and deferred tax liabilities are not netted due to being within different tax jurisdictions. The Company’s deferred tax assets were reviewed for expected utilization by assessing the available positive and negative factors surrounding their recoverability. As of September 30, 2024, and 2023, no valuation allowance was deemed necessary as the Company determined it was more likely than not that the Company’s deferred tax assets will be realized. The Company is required to recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not not The Company is subject to income taxes in the U.S. federal and various state and foreign jurisdictions, including Finland. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Clearfield, Inc. is generally subject to U.S. federal examination for all tax years after 2019 2015 2020

Note 7 - Concentrations

Note 7 - Concentrations	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	Note 7. Concentrations Suppliers: Customers: two one one As of September 30, 2024, three three Disaggregation of Revenue The following table presents our domestic and international sales for each of the last three fiscal years: Year Ended September 30, 2024 2023 2022 United States $ 122,483 $ 218,835 $ 255,607 All Other Countries 44,222 49,885 15,276 Total Net Sales $ 166,705 $ 268,720 $ 270,883 The Company sells its products to the Broadband Service Provider marketplace. In addition, the Company provides Legacy services for original equipment manufacturers requiring copper and fiber cable assemblies built to their specification.  The percentages of our sales by these markets were as follows for each of the last three fiscal years: Year Ended September 30, 2024 2023 2022 Broadband service providers 94 % 97 % 99 % Other customers 6 % 3 % 1 % Total Net Sales 100 % 100 % 100 % Broadband Service Providers are made up of Community Broadband, which includes local and regional telecom companies, utilities, municipalities and alternative carriers, also referred to as Tier 2 and 3 customers, National Carriers, which includes large national and global wireline and wireless providers also referred to as Tier 1s, Large Regional Service providers with a national footprint, MSOs, which include cable television companies, and international customers. Long-lived assets:

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	Note 8. Employee Benefit Plan Clearfield, Inc. maintains a contributory 401(k) profit sharing benefit plan, whereby eligible employees may contribute a portion of their earnings, not to exceed annual amounts allowed under the Internal Revenue Code. The Company matched 100% of the first 3% and 50% of the next 3% of the participant’s eligible compensation that was contributed by the participant. The Company’s contributions under this plan were $1,087,000, $1,017,000, and $1,129,000 for the years ended September 30, 2024, 2023 and 2022, respectively . Nestor Cables is mandated by the Finnish government to participate in a pension and social expense plan to which Nestor and its employees make contributions. The plan is accounted for as defined contribution plan and Nestor Cables is responsible for an average of 17.6%, 18.3%, and 17.4% of employees’ wages for plan years ended September 30, 2024, and 2023, and 2022, respectively. Nestor’s contributions under this plan were $1,328,000, $1,112,000, and $204,000 for the years ended September 30, 2024, and 2023, and 2022, respectively.

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 9. 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 original lease term was ten three The Company indirectly leases an approximately 318,000 square foot manufacturing facility in Tijuana, Mexico that operates as a Maquiladora. In April 2024, the Company terminated the lease for this manufacturing facility and signed a new lease for the same facility. The new lease has a term of seven five five The Company leases a 105,000 square foot warehouse and manufacturing facility in Brooklyn Park, Minnesota. The lease term is five five Nestor Cables leases an approximately 25,000 square foot manufacturing facility in Oulu, Finland, which is utilized for the operations of Nestor Cables. The original lease term ended on October 31, 2022, but auto renewed and will continue to auto renew 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. The lease is without a fixed term and requires two years’ written notice to terminate the lease. Additionally, the lease grants to Nestor Cables the option to lease an expansion facility that is to be constructed no later than 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 called for monthly rental payments of approximately €20,400 until April 2024 and calls for monthly rental payments of €25,000 afterwards. Rent is increased each year on May 1st based upon the cost-of-living index published by the Estonian government and is capped at 5%. Right-of-use lease assets and lease liabilities are recognized as of the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods we are reasonably certain to exercise. Our leases do not contain any material residual value guarantees or material restrictive covenants. Operating lease expense included within cost of sales and selling, general and administrative expense was as follows: (In thousands) Operating lease expense under ASC842 , Leases, Year ended September 30, 2024 Year ended September 30, 2023 Year ended September 30, 2022 Cost of sales $ 4,231 $ 4,067 $ 2,534 Selling, general and administrative 323 244 277 Total lease expense $ 4,554 $ 4,311 $ 2,801 Our future lease obligations for leases that have commenced were as follows as of September 30, 2024: (In thousands) Operating Leases FY 2025 $ 4,321 FY 2026 4,382 FY 2027 3,451 FY 2028 2,867 FY 2029 1,566 Thereafter 2,576 Total lease payments 19,163 Less: Interest (3,035 ) Present value of lease liabilities $ 16,128 As of September 30, 2024, the weighted average term and weighted average discount rate for our leases were 5.20 years and 6.59%, respectively. As of September 30, 2023, the weighted average term and weighted average discount rate for our leases were 5.16 years and 3.59%, respectively. As of September 30, 2022, the weighted average term and weighted average discount rate for our leases were 4.04 years and 3.22%, respectively. For the years ended September 30, 2024, 2023, and 2022, the operating cash outflows from our leases were $4,222,000, $3,954,000, and $2,064,000, respectively.

Note 10 - Debt

Note 10 - Debt	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 10. Debt On April 27, 2022, the Company entered into a loan agreement and a security agreement with a bank that provides the Company with a $40,000,000 revolving line of credit that is secured by certain of the Company’s U.S. assets. The line of credit matures on April 27, 2025, and borrowed amounts will bear interest at a variable rate of the CME Group one-month term Secured Overnight Financing Rate (“ SOFR On August 5, 2024, the Company entered into an amendment to the loan agreement that, among other things, (i) eliminated the 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 that the Company 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 12 month period; (ii) added a requirement that the Company maintain accounts with the bank with a minimum aggregate liquidity of unrestricted and unencumbered cash and cash equivalents at all times of not less than the outstanding principal balance of the Company’s revolving credit promissory note payable to the bank; and (iii) waived the Company’s compliance with the debt to cash flow ratio for the fiscal quarter ended June 30, 2024. As of September 30, 2024, and 2023, the Company had no borrowings against this line of credit. As of September 30, 2022, the Company had borrowed $16,700,000 against the line of credit. As of September 30, 2024, 2023 and 2022, the Company was in compliance with all applicable covenants. The line of credit is collateralized by Clearfield, Inc’s assets of $300,472,000 as of September 30, 2024. During March 2021, Nestor Cables entered into a loan agreement, providing a €2 million senior loan with a term of three

Note 11 - Acquisition of Nestor

Note 11 - Acquisition of Nestor Cables	12 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 11. Acquisition of Nestor Cables On July 26, 2022, the Company, through its wholly owned subsidiary, Clearfield Finland Oy, acquired 100% of the share capital of Nestor Cables Oy, a leading developer and manufacturer of fiber optic cable solutions located in Finland, upon the terms and conditions contained in a Share Sale and Purchase Agreement entered into on May 17, 2022. The total purchase price and the acquisition date fair value of the consideration transferred for the shares totaled €7.9 €7.6 The following table summarizes the estimated fair value of the assets and liabilities acquired as of July 26, 2022: (in thousands Cash $ 72 Accounts receivables 10,562 Inventories 11,377 Other current assets 173 Total current assets 22,184 Property and equipment 7,689 Intangibles assets 1,840 Right of use lease asset 1,297 Goodwill 1,762 Other 55 Total assets $ 34,827 Accounts payable 5,839 Accrued compensation 1,430 Accrued expenses 1,916 Deferred tax liability 621 Lease liability 1,297 Factoring liability 5,849 Long term debt 2,045 Total liabilities $ 18,997 Net assets acquired $ 15,830 The Nestor Cables acquisition resulted in approximately $1,700,000 of goodwill due to intangible assets not qualifying for separate recognition as well as expected synergies. The goodwill created from the acquisition of Nestor Cables is expected to be deductible for tax purposes. Nestor Cables acquired accounts receivable balance is the gross amount which is expected to be collected, which approximates fair value. As of the acquisition date no allowance for uncollectible amounts is deemed necessary. The intangible assets acquired include customer relationships, developed technology and trademarks. The remaining weighted average useful life of intangible assets acquired is 12.82 years as of the acquisition date. Refer to Note 1 for further detail. The Company incurred approximately $1,600,000 in legal, professional, and other costs related to the acquisition which were accounted for as selling, general and administrative expenses when incurred. Refer to Note 12-Segment Reporting for the operating results of Nestor Cables from the date of acquisition through September 30, 2022. The Company has a fiscal year end of September 30 and reports its financial results in accordance with U.S. GAAP. Nestor Cables has historically had a fiscal year end of December 31 and reported its results under Finnish Accounting Standards. Accordingly, it is impracticable to disclose the revenue and earnings of the combined entity as though the business combination occurred as of the beginning of the comparable prior year periods due to the differing basis of accounting and reporting periods of the entities requiring assumptions about management’s intent that cannot be independently substantiated. In addition, these disclosures would require significant estimates that are not possible to reliably establish in order to distinguish objective information that provides evidence of circumstances that existed on the dates at which those amounts would have been recognized, measured and disclosed and would have been available when the financial statements for that prior period were issued.

Note 12 - Segment Reporting

Note 12 - Segment Reporting	12 Months Ended
	Sep. 30, 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. Upon closing of the acquisition of Nestor Cables, the Company reassessed its operating segments as defined under ASC 280, Segment Reporting For the year ended September 30, 2024, the Company has two Financial results for the reportable segments are prepared on a basis consistent with the internal disaggregation of financial information to assist the CODM in making internal operating decisions. For consolidated reporting, the Company eliminates transactions between reportable segments. The following table summarizes the amounts between the two Year ended September 30, 2024 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 125,568 $ 41,137 $ - $ 166,705 Revenue from internal customers (Clearfield) 58 2,271 (2,329 ) - Net investment income 7,711 - (239 ) 7,472 Interest expense - 741 (235 ) 506 Depreciation and amortization 5,933 1,478 - 7,411 Stock based compensation 4,374 267 - 4,641 Income tax benefit (3,248 ) (555 ) - (3,803 ) Net loss (9,198 ) (3,424 ) 169 (12,453 ) Capital expenditures 7,940 1,627 - 9,567 The following table summarizes the amounts between the two Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 225,722 $ 42,998 $ - $ 268,720 Revenue from internal customers (Clearfield) - 5,408 (5,408 ) - Net investment income 5,315 7 (116 ) 5,206 Interest expense 170 827 (116 ) 881 Depreciation and amortization 4,598 1,456 - 6,054 Stock based compensation 3,528 50 - 3,578 Income taxes 8,883 196 - 9,079 Net income 32,834 719 (1,020 ) 32,533 Capital expenditures 6,759 925 - 7,684 The following table summarizes the amounts between the two Year ended September 30, 2024 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,918 $ - $ 6,627 Total assets $ 300,472 $ 38,773 $ (23,970 ) $ 315,275 Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,819 $ - $ 6,528 Total assets $ 335,412 $ 43,550 $ (23,445 ) $ 355,517

Note 13 - Financing Receivables

Note 13 - Financing Receivables	12 Months Ended
	Sep. 30, 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 $2,920,000, $6,289,000 and $4,391,000 as of September 30, 2024, 2023 and 2022, respectively. Nestor receives cash for 80% of the receivable balance from the bank initially and the remaining 20% when the invoice is paid up to a limit of €12.5 million ($13.9 million). Due to the conditions mentioned above, these transactions do not qualify as a sale and are thus accounted for as secured borrowing. The contractual interest rate on Nestor’s factoring arrangements is the 3-month Euribor rate plus a range of . 75 zero one

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 9B. OTHER INFORMATION During the quarter ended September 30,
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation:
Revenue [Policy Text Block]	Revenue Recognition:
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: (In thousands) September 30, 2024 September 30, 2023 Cash and cash equivalents: Cash, including money market accounts $ 5,789 $ 11,360 Money market funds 10,378 26,467 Total cash and cash equivalents $ 16,167 $ 37,827 The Company maintains cash balances at multiple financial institutions, and at times, such balances exceeded insured limits. The Company has not experienced any losses in such accounts.
Investment, Policy [Policy Text Block]	Investments:
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation:
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss):
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments:
Accounts Receivable [Policy Text Block]	Accounts Receivable: As of September 30, 2023, and 2022, 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.
Inventory, Policy [Policy Text Block]	Inventories: September 30, 2024 September 30, 2023 (In thousands) Raw materials $ 56,842 $ 73,657 Work-in-process 1,790 1,462 Finished goods 23,389 29,696 Inventories, gross 82,021 104,815 Inventory reserve (15,255 ) (6,760 ) Inventories, net $ 66,766 $ 98,055 On a regular basis, the Company reviews its inventory and identifies that which is excess, slow moving, and obsolete by considering factors such as inventory levels, expected product life, and forecasted sales demand. A reserve is established for any identified excess, slow moving, and obsolete inventory through a charge to cost of sales. Inventory write-down charges may be required in the future if there is a significant decline in demand for the Company’s products and the Company does not adjust its manufacturing production accordingly, if new products are not accepted by the market, or if products are end of life through life cycle management.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment: Estimated useful lives of the assets are as follows: Years Equipment 3 –15 Leasehold improvements 7-10 or life of lease Vehicles 3 Property, plant and equipment consist of the following: (In thousands) September 30, 2024 September 30, 2023 Manufacturing equipment $ 27,302 $ 23,580 Office equipment 4,559 4,560 Leasehold improvements 6,347 6,107 Vehicles 439 446 Construction in progress 6,287 2,447 Property, plant and equipment, gross 44,934 37,140 Less accumulated depreciation 20,981 15,613 Property, plant and equipment, net $ 23,953 $ 21,527 Depreciation expense for the years ended September 30, 2024, 2023, and 2022 was $5,815,000, $4,915,000, and $2,647,000, respectively.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Intangible Assets: If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative test that compares the fair value to its carrying value to determine the amount of any impairment. If the carrying amount of a reporting unit exceeds its fair value, the Company would measure the possible goodwill impairment loss based on an allocation of the estimate of fair value of the reporting unit to all the underlying assets and liabilities of the reporting unit, including any previously unrecognized intangible assets. The excess of the fair value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized to the extent that a reporting unit’s recorded goodwill exceeds the implied fair value of goodwill. An impairment loss would be based on significant estimates and judgments, and if the facts and circumstances change, a potential impairment could have a material impact on the Company’s financial statements. No Capitalized software The Company capitalizes legal costs incurred to obtain patents. Once accepted by either the U.S. Patent Office or the equivalent office of a foreign country, these legal costs are amortized using the straight-line method over the remaining estimated lives, not exceeding 20 years. As of September 30, 2024, the Company has 53 patents granted and multiple pending applications both inside and outside the United States. In addition, the Company has various finite life intangible assets, most of which were acquired as a result of the acquisition of a portfolio of the active cabinet products from Calix, Inc. (“Calix”) during fiscal year 2018 and the acquisition of Nestor Cables as of July 26, 2022. Refer to Note 11 for further information regarding the acquisition of Nestor Cables. The changes in the carrying amount of goodwill by reportable segment for the fiscal year 2024 were as follows: (In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528 Currency translation effect on foreign goodwill balances - 99 99 Balance as of September 30, 2024 $ 4,709 $ 1,918 $ 6,627 The changes in the carrying amount of goodwill by reportable segment for the fiscal year 2023 were as follows: (In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2022 $ 4,709 $ 1,693 $ 6,402 Currency translation effect on foreign goodwill balances - 126 126 Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528 Finite life intangible assets as of September 30, 2024, and 2023 are as follows: September 30, 2024 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,856 $ 1,815 $ 3,041 Certifications 8 1,068 884 184 Trademarks 8-10 1,120 588 532 Patents 20 1,302 219 1,083 Developed Technology 10 346 75 271 Other 5 6 6 - Software 1-3 3,475 2,243 1,232 Totals $ 12,173 $ 5,830 $ 6,343 September 30, 2023 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092 Amortization expense related to these assets for the years ended September 30, 2024, 2023, and 2022 was $1,567,000, $1,128,000, and $766,000, respectively. Our future estimated amortization expense for intangibles is as follows as of September 30, 2024: (In thousands) Estimated amortization expense FY 2025 $ 1,480 FY 2026 763 FY 2027 551 FY 2028 463 FY 2029 444 Thereafter 2,642 Total $ 6,343
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets: Any required impairment loss is measured as the amount by which the carrying amount of a long-lived asset or asset group exceeds its fair value and is recorded as a reduction in the carrying value of the related asset or asset group and a charge to operating results. No
Income Tax, Policy [Policy Text Block]	Income Taxes: In accounting for uncertainty in income taxes, we recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. As of September 30, 2024, and 2023, the Company did not
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation The expected terms of the options are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at grant date. Volatility is based on historical and expected future volatility of the Company’s stock. The Company has not historically issued any dividends and does not expect to in the future. Forfeitures for both option and restricted stock grants are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from estimates. If factors change and we employ different assumptions in the determination of the fair value of grants in future periods, the related compensation expense that we record may differ significantly from what we have recorded in the current periods.
Share Repurchase Program [Policy Text Block]	Share Repurchase Program: The Company is authorized to issue 50,000,000 shares of common stock at $ .01
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs
Advertising Cost [Policy Text Block]	Advertising Costs
Earnings Per Share, Policy [Policy Text Block]	Net (Loss) Income Per Share: Weighted average common shares outstanding for the years ended September 30, 2024, 2023, and 2022 were as follows: Year ended September 30, ( In thousands except share data 2024 2023 2022 Net (loss) income $ (12,453 ) $ 32,533 $ 49,362 Weighted average common shares 14,582,450 14,975,972 13,771,665 Dilutive potential common shares - 36,555 134,319 Weighted average dilutive common shares outstanding 14,582,450 15,012,527 13,905,984 (Losses) Earnings per share: Basic $ (0.85 ) $ 2.17 $ 3.58 Diluted $ (0.85 ) $ 2.17 $ 3.55 There were no
Use of Estimates, Policy [Policy Text Block]	Use of Estimates:
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification:
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements: Measurement of Credit Losses on Financial Instruments New Accounting Pronouncements Not Yet Adopted: Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In March 2024, the SEC adopted rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	(In thousands) September 30, 2024 September 30, 2023 Cash and cash equivalents: Cash, including money market accounts $ 5,789 $ 11,360 Money market funds 10,378 26,467 Total cash and cash equivalents $ 16,167 $ 37,827
Schedule of Inventory, Current [Table Text Block]	September 30, 2024 September 30, 2023 (In thousands) Raw materials $ 56,842 $ 73,657 Work-in-process 1,790 1,462 Finished goods 23,389 29,696 Inventories, gross 82,021 104,815 Inventory reserve (15,255 ) (6,760 ) Inventories, net $ 66,766 $ 98,055
Schedule of Goodwill [Table Text Block]	(In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528 Currency translation effect on foreign goodwill balances - 99 99 Balance as of September 30, 2024 $ 4,709 $ 1,918 $ 6,627 (In thousands) Clearfield, Inc. Nestor Cables Total Balance as of September 30, 2022 $ 4,709 $ 1,693 $ 6,402 Currency translation effect on foreign goodwill balances - 126 126 Balance as of September 30, 2023 $ 4,709 $ 1,819 $ 6,528
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2024 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,856 $ 1,815 $ 3,041 Certifications 8 1,068 884 184 Trademarks 8-10 1,120 588 532 Patents 20 1,302 219 1,083 Developed Technology 10 346 75 271 Other 5 6 6 - Software 1-3 3,475 2,243 1,232 Totals $ 12,173 $ 5,830 $ 6,343 September 30, 2023 (In thousands) Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Book Value Amount Customer relationships 15 $ 4,894 $ 1,582 $ 3,312 Certifications 8 584 267 317 Trademarks 8-10 1,333 700 633 Patents 20 1,119 165 954 Developed Technology 10 311 22 289 Other 5 6 6 - Software 1-3 2,613 2,026 587 Totals $ 10,860 $ 4,768 $ 6,092
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) Estimated amortization expense FY 2025 $ 1,480 FY 2026 763 FY 2027 551 FY 2028 463 FY 2029 444 Thereafter 2,642 Total $ 6,343
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended September 30, ( In thousands except share data 2024 2023 2022 Net (loss) income $ (12,453 ) $ 32,533 $ 49,362 Weighted average common shares 14,582,450 14,975,972 13,771,665 Dilutive potential common shares - 36,555 134,319 Weighted average dilutive common shares outstanding 14,582,450 15,012,527 13,905,984 (Losses) Earnings per share: Basic $ (0.85 ) $ 2.17 $ 3.58 Diluted $ (0.85 ) $ 2.17 $ 3.55
Useful Lives [Member]
Notes Tables
Property, Plant and Equipment [Table Text Block]	Years Equipment 3 –15 Leasehold improvements 7-10 or life of lease Vehicles 3 (In thousands) September 30, 2024 September 30, 2023 Manufacturing equipment $ 27,302 $ 23,580 Office equipment 4,559 4,560 Leasehold improvements 6,347 6,107 Vehicles 439 446 Construction in progress 6,287 2,447 Property, plant and equipment, gross 44,934 37,140 Less accumulated depreciation 20,981 15,613 Property, plant and equipment, net $ 23,953 $ 21,527

Note 2 - Stock Based Compensa_2

Note 2 - Stock Based Compensation (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended September 30, 2024 Year ended September 30, 2023 Year ended September 30, 2022 Dividend yield 0 % 0 % 0 % Weighted average expected volatility 61.66 % 63.14 % 52.02 % Weighted average risk-free interest rate 4.55 % 3.75 % 0.97 % Weighted average expected life (years) 5 5 5 Vesting period (years) 3 3 3
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of shares Weighted average exercise price Weighted average fair value Outstanding as of September 30, 2021 301,514 $ 16.25 Granted 62,730 66.48 $ 25.54 Exercised (125,651 ) 12.92 Forfeited and expired (2,084 ) 19.94 Outstanding as of September 30, 2022 236,509 $ 31.30 Granted 40,266 64.38 $ 30.83 Exercised (21,630 ) 26.16 Forfeited and expired (1,021 ) 18.18 Outstanding as of September 30, 2023 254,124 $ 37.04 Granted 118,706 26.84 $ 12.96 Exercised (1,501 ) 12.40 Forfeited and expired (4,345 ) 38.13 Outstanding as of September 30, 2024 366,984 $ 33.83
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	As of Year Ended Exercisable Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2024 181,455 1.50 $ 32.65 $ 5,924 September 30, 2023 97,056 2.28 $ 28.13 $ 2,731 September 30, 2022 39,276 2.78 $ 20.26 $ 3,314
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	As of Year Ended Number outstanding Weighted average remaining contractual life (years) Weighted average exercise price Aggregate intrinsic value (in thousands) September 30, 2024 366,984 2.51 $ 33.83 $ 12,414 September 30, 2023 254,124 2.72 $ 37.04 $ 9,413 September 30, 2022 236,509 3.22 $ 31.30 $ 17,343
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, 2021 108,839 $ 17.14 Granted 29,512 65.90 Vested (37,094 ) 17.78 Forfeited (2,749 ) 16.84 Unvested shares as of September 30, 2022 98,508 $ 31.51 Granted 41,492 70.50 Vested (47,869 ) 30.98 Forfeited (1,556 ) 15.61 Unvested shares as of September 30, 2023 90,575 $ 49.92 Granted 137,928 26.65 Vested (58,559 ) 39.60 Forfeited (7,737 ) 27.84 Unvested shares as of September 30, 2024 162,207 $ 34.91

Note 3 - Investments (Tables)

Note 3 - Investments (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	September 30, 2024 (In thousands) Cost Unrealized Gains Unrealized Losses Fair Value Short-Term U.S treasury securities $ 113,987 $ 382 $ (45 ) $ 114,324 Certificates of deposit 500 1 - 501 Investment securities – short-term $ 114,487 $ 384 $ (45 ) $ 114,825 Long-Term U.S treasury securities $ 24,514 $ - $ (245 ) $ 24,269 Certificates of deposit 248 - (12 ) 236 Investment securities – long-term $ 24,762 $ - $ (257 ) $ 24,505 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 $ 19,719 $ (39 ) $ 6,500 $ (250 ) Certificates of deposit - - 236 (12 ) Investment securities $ 19,719 $ (39 ) $ 6,736 $ (262 ) 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 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value Measurements as of September 30, 2024 ( In thousands Total Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 10,378 $ 10,378 $ - $ - Total cash equivalents $ 10,378 $ 10,378 $ - $ - Investment securities: U.S. Treasury securities $ 138,592 $ - $ 138,592 $ - Certificates of deposit 738 - 738 - Total investment securities $ 139,330 $ - $ 139,330 $ - 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 5 - Other Comprehensive _2

Note 5 - Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Comprehensive Income (Loss) [Table Text Block]	(In thousands) Available-for-Sale Securities Foreign Currency Translation Accumulated Other Comprehensive Loss Balances at September 30, 2022 $ (1,224 ) $ (674 ) $ (1,898 ) Other comprehensive income for the twelve months ended September 30, 2023 542 812 1,354 Balances at September 30, 2023 $ (682 ) $ 138 $ (544 ) Other comprehensive income for the twelve months ended September 30, 2024 748 875 1,623 Balances at September 30, 2024 $ 66 $ 1,013 $ 1,079

Note 6 - Income Taxes (Tables)

Note 6 - Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	September 30, September 30, September 30, ( In thousands 2024 2023 2022 Current: Federal $ 385 $ 9,449 $ 13,230 State (114 ) 1,435 1,532 Foreign 4 144 48 Current income tax expense 275 11,028 14,810 Deferred: Federal (3,092 ) (1,751 ) (509 ) State (427 ) (251 ) 6 Foreign (559 ) 53 165 Deferred income tax expense (4,078 ) (1,949 ) (334 ) Income tax expense $ (3,803 ) $ 9,079 $ 14,472
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	September 30, September 30, September 30, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % State income taxes 3.9 % 2.8 % 2.1 % Foreign income taxes (1.5% ) (0.1% ) 0.4 % Permanent differences 0.0 % 0.8 % 4.6 % Research and development credits 0.8 % (1.0% ) (0.5% ) Excess tax benefits from stock-based compensation (0.8% ) (1.7% ) (4.9% ) Effective Tax rate 23.4 % 21.8 % 22.7 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	September 30, September 30, (In thousands) 2024 2023 Inventories $ 4,241 $ 2,154 R&D expenses 1,328 832 Stock-based compensation 1,042 600 Accrued expenses and reserves 427 515 Property and equipment depreciation 4 (683 ) Net operating loss carry forwards and credits 726 201 Foreign currency translation loss - - Total deferred tax asset $ 7,768 $ 3,619 Goodwill (1,146 ) (1,123 ) Unrealized loss on investments (16 ) 204 Prepaid expenses (141 ) (193 ) Intangibles (254 ) (153 ) Foreign currency translation gain (238 ) (36 ) Total deferred tax liability $ (1,795 ) $ (1,301 ) Net deferred tax asset $ 5,973 $ 2,318

Note 7 - Concentrations (Tables

Note 7 - Concentrations (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended September 30, 2024 2023 2022 United States $ 122,483 $ 218,835 $ 255,607 All Other Countries 44,222 49,885 15,276 Total Net Sales $ 166,705 $ 268,720 $ 270,883 Year Ended September 30, 2024 2023 2022 Broadband service providers 94 % 97 % 99 % Other customers 6 % 3 % 1 % Total Net Sales 100 % 100 % 100 %

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Lessee, Operating Lease Expense [Table Text Block]	(In thousands) Operating lease expense under ASC842 , Leases, Year ended September 30, 2024 Year ended September 30, 2023 Year ended September 30, 2022 Cost of sales $ 4,231 $ 4,067 $ 2,534 Selling, general and administrative 323 244 277 Total lease expense $ 4,554 $ 4,311 $ 2,801
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	(In thousands) Operating Leases FY 2025 $ 4,321 FY 2026 4,382 FY 2027 3,451 FY 2028 2,867 FY 2029 1,566 Thereafter 2,576 Total lease payments 19,163 Less: Interest (3,035 ) Present value of lease liabilities $ 16,128

Note 11 - Acquisition of Nest_2

Note 11 - Acquisition of Nestor Cables (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in thousands Cash $ 72 Accounts receivables 10,562 Inventories 11,377 Other current assets 173 Total current assets 22,184 Property and equipment 7,689 Intangibles assets 1,840 Right of use lease asset 1,297 Goodwill 1,762 Other 55 Total assets $ 34,827 Accounts payable 5,839 Accrued compensation 1,430 Accrued expenses 1,916 Deferred tax liability 621 Lease liability 1,297 Factoring liability 5,849 Long term debt 2,045 Total liabilities $ 18,997 Net assets acquired $ 15,830

Note 12 - Segment Reporting (Ta

Note 12 - Segment Reporting (Tables)	12 Months Ended
	Sep. 30, 2024
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Year ended September 30, 2024 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 125,568 $ 41,137 $ - $ 166,705 Revenue from internal customers (Clearfield) 58 2,271 (2,329 ) - Net investment income 7,711 - (239 ) 7,472 Interest expense - 741 (235 ) 506 Depreciation and amortization 5,933 1,478 - 7,411 Stock based compensation 4,374 267 - 4,641 Income tax benefit (3,248 ) (555 ) - (3,803 ) Net loss (9,198 ) (3,424 ) 169 (12,453 ) Capital expenditures 7,940 1,627 - 9,567 Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Revenue from external customers $ 225,722 $ 42,998 $ - $ 268,720 Revenue from internal customers (Clearfield) - 5,408 (5,408 ) - Net investment income 5,315 7 (116 ) 5,206 Interest expense 170 827 (116 ) 881 Depreciation and amortization 4,598 1,456 - 6,054 Stock based compensation 3,528 50 - 3,578 Income taxes 8,883 196 - 9,079 Net income 32,834 719 (1,020 ) 32,533 Capital expenditures 6,759 925 - 7,684
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Year ended September 30, 2024 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,918 $ - $ 6,627 Total assets $ 300,472 $ 38,773 $ (23,970 ) $ 315,275 Year ended September 30, 2023 (in thousands Clearfield Nestor Cables Eliminations Consolidated Goodwill $ 4,709 $ 1,819 $ - $ 6,528 Total assets $ 335,412 $ 43,550 $ (23,445 ) $ 355,517

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) shares	Apr. 30, 2024 USD ($)	Nov. 07, 2023 USD ($)
Accounts Receivable, Allowance for Credit Loss, Current		$ 79,000	$ 79,000
Depreciation	$ 5,815,000	4,915,000	2,647,000
Goodwill, Impairment Loss	$ 0	0	0
Number of Patents Granted	53
Amortization of Intangible Assets	$ 1,567,000	1,128,000	766,000
Impairment, Long-Lived Asset, Held-for-Use	0	0	$ 0
Unrecognized Tax Benefits	$ 0	$ 0
Stock Repurchased During Period, Shares | shares	15,879	12,862	13,292
Common Stock, Shares Authorized | shares	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized | shares	500,000	500,000
Research and Development Expense	$ 3,000,000	$ 3,115,000	$ 895,000
Advertising Expense	$ 535,000	$ 609,000	$ 537,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	0	0	0
Undesignated Shares [Member]
Preferred Stock, Shares Authorized | shares	5,000,000
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized | shares	500,000
Stock Repurchase Program [Member]
Share Repurchase Program, Authorized, Amount	$ 65,000,000			$ 25,000,000	$ 18,000,000
Stock Repurchased During Period, Shares | shares	1,164,190
Stock Repurchased During Period, Value	$ 33,058,000
Stock Repurchased, Cumulative | shares	1,729,780
Stock Repurchased, Value, Cumulative	$ 40,077,000
Share Repurchase Program, Remaining Authorized, Amount	$ 24,923,000

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Cash, including money market accounts	$ 16,167	$ 37,827
Cash Including Money Market Accounts [Member]
Cash, including money market accounts	5,789	11,360
Money Market Funds [Member]
Cash, including money market accounts	$ 10,378	$ 26,467

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Raw materials	$ 56,842	$ 73,657
Work-in-process	1,790	1,462
Finished goods	23,389	29,696
Inventories, gross	82,021	104,815
Inventory reserve	(15,255)	(6,760)
Inventories, net	$ 66,766	$ 98,055

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Fixed Assets	$ 44,934	$ 37,140
Less accumulated depreciation	20,981	15,613
Property, plant and equipment, net	$ 23,953	21,527
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Property, plant and equipment useful life (Year)	3 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Property, plant and equipment useful life (Year)	15 years
Machinery and Equipment [Member]
Fixed Assets	$ 27,302	23,580
Office Equipment [Member]
Fixed Assets	4,559	4,560
Leasehold Improvements [Member]
Fixed Assets	$ 6,347	$ 6,107
Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	7 years
Property, plant and equipment useful life (Year)	7 years
Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	10 years
Property, plant and equipment useful life (Year)	10 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life (Year)		3 years
Fixed Assets	$ 439	$ 446
Property, plant and equipment useful life (Year)		3 years
Construction in Progress [Member]
Fixed Assets	$ 6,287	$ 2,447

Note 11 - Goodwill and Intangib

Note 11 - Goodwill and Intangibles - Summary of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Balance	$ 6,528	$ 6,402
Currency translation effect on foreign goodwill balances	99	126
Balance	6,627	6,528
Clearfield [Member]
Balance	4,709	4,709
Currency translation effect on foreign goodwill balances	0	0
Balance	4,709	4,709
Nestor [Member]
Balance	1,819	1,693
Currency translation effect on foreign goodwill balances	99	126
Balance	$ 1,918	$ 1,819

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Gross carrying amount	$ 12,173	$ 10,860
Accumulated amortization	5,830	4,768
Intangible Assets, Net	$ 6,343	$ 6,092
Customer Relationships [Member]
Useful life (Year)	15 years	15 years
Gross carrying amount	$ 4,856	$ 4,894
Accumulated amortization	1,815	1,582
Intangible Assets, Net	$ 3,041	$ 3,312
Certification Marks [Member]
Useful life (Year)	8 years	8 years
Gross carrying amount	$ 1,068	$ 584
Accumulated amortization	884	267
Intangible Assets, Net	184	317
Trademarks [Member]
Gross carrying amount	532	633
Accumulated amortization	1,120	1,333
Intangible Assets, Net	$ 588	$ 700
Trademarks [Member] | Minimum [Member]
Useful life (Year)	8 years	8 years
Trademarks [Member] | Maximum [Member]
Useful life (Year)	10 years	10 years
Patents [Member]
Useful life (Year)	20 years	20 years
Gross carrying amount	$ 1,302	$ 1,119
Accumulated amortization	219	165
Intangible Assets, Net	$ 1,083	$ 954
Developed Technology Rights [Member]
Useful life (Year)	10 years	10 years
Gross carrying amount	$ 346	$ 311
Accumulated amortization	75	22
Intangible Assets, Net	$ 271	$ 289
Other Intangible Assets [Member]
Useful life (Year)	5 years	5 years
Gross carrying amount	$ 6	$ 6
Accumulated amortization	6	6
Intangible Assets, Net	0	0
Computer Software, Intangible Asset [Member]
Gross carrying amount	1,232	587
Accumulated amortization	3,475	2,613
Intangible Assets, Net	$ 2,243	$ 2,026
Computer Software, Intangible Asset [Member] | Minimum [Member]
Useful life (Year)	1 year	1 year
Computer Software, Intangible Asset [Member] | Maximum [Member]
Useful life (Year)	3 years	3 years

Note 1 - Summary of Significa_8

Note 1 - Summary of Significant Accounting Policies - Future Estimated Amortization Expense for Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
FY 2024	$ 1,480
FY 2025	763
FY 2026	551
FY 2027	463
FY 2028	444
Thereafter	2,642
Total	$ 6,343	$ 6,092

Note 1 - Summary of Significa_9

Note 1 - Summary of Significant Accounting Policies - Weighted Average Common Shares Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Net income	$ (12,453)	$ 32,533	$ 49,362
Weighted average common shares (in shares)	14,582,450	14,975,972	13,771,665
Dilutive potential common shares (in shares)	0	36,555	134,319
Weighted average dilutive common shares outstanding (in shares)	14,582,450	15,012,527	13,905,984
Basic (in dollars per share)	$ (0.85)	$ 2.17	$ 3.58
Diluted (in dollars per share)	$ (0.85)	$ 2.17	$ 3.55

Note 2 - Stock Based Compensa_3

Note 2 - Stock Based Compensation (Details Textual) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Feb. 29, 2020	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Feb. 23, 2023
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount				$ 4,989,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years 1 month 6 days
Share-Based Payment Arrangement, Expense				$ 4,641,000	$ 3,578,000	$ 2,339,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross				118,706	40,266	62,730
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				5 years	5 years	5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period				3 years	3 years	3 years
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price				$ 26.84	$ 64.38	$ 66.48
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number				90,245	79,911	113,727
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period				1,501	21,630	125,651
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value				$ 25,000	$ 1,603,000	$ 11,279,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value				$ 1,796,000	$ 3,141,000	$ 3,744,000
Stock Repurchased During Period, Shares				15,879	12,862	13,292
Shares Acquired, Average Cost Per Share				$ 31.05	$ 62.2	$ 105.78
Payment, Tax Withholding, Share-Based Payment Arrangement				$ 493,000	$ 1,220,000	$ 1,406,000
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period						3 years
Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period				3 years
Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period				6 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period				5 years
Cashless Method Stock Option Exercised [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period				1,501	21,630	125,651
Restricted Stock [Member]
Granted, unvested shares (in shares)				137,928	41,492	29,512
Granted, weighted-average grant date fair value (in dollars per share)				$ 26.65	$ 70.5	$ 65.9
Performance Stock Units [Member]
Share-Based Payment Arrangement, Expense				$ 0
Granted, unvested shares (in shares)				47,745
Granted, weighted-average grant date fair value (in dollars per share)				$ 26.18
Bonus Stock Award [Member] | Share-Based Payment Arrangement, Employee [Member]
Granted, unvested shares (in shares)				0	9,144	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share					$ 104.36
Selling, General and Administrative Expenses [Member]
Share-Based Payment Arrangement, Expense				$ 4,432,000	$ 3,407,000	$ 2,213,000
Cost of Sales [Member]
Share-Based Payment Arrangement, Expense				$ 209,000	$ 171,000	$ 126,000
The 2022 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized							1,461,461
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Minimum [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period				1 year
Stock Compensation Plan 2007 [Member] | Restricted Stock [Member] | Maximum [Member] | Employees [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period				10 years
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Market Price Percentage, Offering Date				85%
Stock Issued During Period, Shares, Employee Stock Purchase Plans		13,598	10,104
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price		$ 24.72	$ 24.72
Payment, Tax Withholding, Share-Based Payment Arrangement				$ 175,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized	200,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		144,548

Note 2 - Stock Based Compensa_4

Note 2 - Stock Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Dividend yield	0%	0%	0%
Weighted average expected volatility	61.66%	63.14%
Weighted average risk-free interest rate	4.55%	3.75%	0.97%
Weighted average expected life (Year)	5 years	5 years	5 years
Vesting period (Year)	3 years	3 years	3 years
Minimum [Member]
Weighted average expected volatility			52.02%
Vesting period (Year)			3 years

Note 2 - Stock Based Compensa_5

Note 2 - Stock Based Compensation - Option Transaction Summary (Details) - $ / shares	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Options, outstanding (in shares)	254,124	236,509	301,514
Weighted-average exercise price, outstanding (in dollars per share)	$ 37.04	$ 31.3	$ 16.25
Granted (in shares)	118,706	40,266	62,730
Weighted-average exercise price, Granted (in dollars per share)	$ 26.84	$ 64.38	$ 66.48
Weighted-average fair value, Granted (in dollars per share)	$ 12.96	$ 30.83	$ 25.54
Exercised (in shares)	(1,501)	(21,630)	(125,651)
Weighted-average exercise price, Exercised (in dollars per share)	$ 12.4	$ 26.16	$ 12.92
Forfeited and expired (in shares)	(4,345)	(1,021)	(2,084)
Weighted-average exercise price, Forfeited or Expired (in dollars per share)	$ 38.13	$ 18.18	$ 19.94
Options, outstanding (in shares)	366,984	254,124	236,509
Weighted-average exercise price, outstanding (in dollars per share)	$ 33.83	$ 37.04	$ 31.3

Note 2 - Stock Based Compensa_6

Note 2 - Stock Based Compensation - Options Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Exercisable (in shares)	181,455	97,056	39,276
Weighted average remaining contractual life (Year)	1 year 6 months	2 years 3 months 10 days	2 years 9 months 10 days
Weighted average exercise price (in dollars per share)	$ 32.65	$ 28.13	$ 20.26
Aggregate intrinsic value	$ 5,924	$ 2,731	$ 3,314

Note 2 - Stock Based Compensa_7

Note 2 - Stock Based Compensation - Options Currently Outstanding (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Number outstanding (in shares)	366,984	254,124	236,509	301,514
Weighted average remaining contractual life (Year)	2 years 6 months 3 days	2 years 8 months 19 days	3 years 2 months 19 days
Weighted average exercise price (in dollars per share)	$ 33.83	$ 37.04	$ 31.3	$ 16.25
Aggregate intrinsic value	$ 12,414	$ 9,413	$ 17,343

Note 2 - Stock Based Compensa_8

Note 2 - Stock Based Compensation - Restricted Stock Transactions (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Balance, unvested shares (in shares)	90,575	98,508	108,839
Balance, weighted-average grant date fair value (in dollars per share)	$ 49.92	$ 31.51	$ 17.14
Granted, unvested shares (in shares)	137,928	41,492	29,512
Granted, weighted-average grant date fair value (in dollars per share)	$ 26.65	$ 70.5	$ 65.9
Vested, unvested shares (in shares)	(58,559)	(47,869)	(37,094)
Vested, weighted-average grant date fair value (in dollars per share)	$ 39.6	$ 30.98	$ 17.78
Forfeited, unvested shares (in shares)	(7,737)	(1,556)	(2,749)
Forfeited, weighted-average grant date fair value (in dollars per share)	$ 27.84	$ 15.61	$ 16.84
Balance, unvested shares (in shares)	162,207	90,575	98,508
Balance, weighted-average grant date fair value (in dollars per share)	$ 34.91	$ 49.92	$ 31.51

Note 3 - Investments (Details T

Note 3 - Investments (Details Textual) $ in Thousands	12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Proceeds from Sale, Maturity and Collection of Investments	$ 0	$ 0	$ 0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	6	42
Debt Securities, Available for Sale, Other than Temporary Impairment	$ 0

Note 3 - Investments - Availabl

Note 3 - Investments - Available-for-sale Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 09, 2022
Fair value	$ 139,330	$ 136,629
Short-term US Treasury Securities [Member]
Amortized cost	113,987	122,534
Unrealized gains	382	0
Unrealized losses	(45)	(143)
Fair value	114,324	122,391
Short-term Certificates of Deposit [Member]
Amortized cost	500	8,014
Unrealized gains	1	0
Unrealized losses	0	(119)
Fair value	501		$ 7,895
Short-term Investment [Member]
Amortized cost	114,487	130,548
Unrealized gains	384	0
Unrealized losses	(45)	(262)
Fair value	114,825		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	(12)	(28)
Fair value	236		220
Long-term Investment [Member]
Amortized cost	24,762	6,967
Unrealized gains	0	0
Unrealized losses	(257)	$ (624)
Fair value	24,505		$ 6,343
Long-term US Treasury Securities [Member]
Amortized cost	24,514
Unrealized gains	0
Unrealized losses	(245)
Fair value	$ 24,269

Note 4 - Investments - Securiti

Note 4 - Investments - Securities in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Fair value unrealized loss, less than 12 months	$ 19,719	$ 113,153
Gross unrealized loss, less than 12 months	(39)	(131)
Fair value unrealized loss, greater than 12 months	6,736	23,476
Gross unrealized loss, greater than 12 months	(262)	(755)
US Treasury Securities [Member]
Fair value unrealized loss, less than 12 months	19,719	112,908
Gross unrealized loss, less than 12 months	(39)	(131)
Fair value unrealized loss, greater than 12 months	6,500	15,606
Gross unrealized loss, greater than 12 months	(250)	(608)
Certificates of Deposit [Member]
Fair value unrealized loss, less than 12 months	0	245
Gross unrealized loss, less than 12 months	0	0
Fair value unrealized loss, greater than 12 months	236	7,870
Gross unrealized loss, greater than 12 months		$ (147)
Gross unrealized loss, greater than 12 months	$ (12)

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Investment securities:	$ 139,330	$ 136,629
Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 4 - Fair Value Measureme_4

Note 4 - Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
cash equivalents	$ 10,378	$ 26,467
Investment securities:	139,330	136,629
Fair Value, Inputs, Level 1 [Member]
cash equivalents	10,378	26,467
Investment securities:	0	0
Fair Value, Inputs, Level 2 [Member]
cash equivalents	0	0
Investment securities:	139,330	136,629
Fair Value, Inputs, Level 3 [Member]
cash equivalents	0	0
Investment securities:	0	0
Money Market Funds [Member]
cash equivalents	10,378	26,467
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
cash equivalents	10,378	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:	738	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:	738	8,115
Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	0	0
US Treasury Securities [Member]
Investment securities:	138,592	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:	138,592	128,514
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Investment securities:	$ 0	$ 0

Note 5 - Other Comprehensive _3

Note 5 - Other Comprehensive Income (Loss) - Changes in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Balance as of September 30, 2021	$ 315,163	$ 147,582	$ 103,824
Other comprehensive income (loss)	1,623	1,354	(1,898)
Balance	275,763	315,163	147,582
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance as of September 30, 2021	(682)	(1,224)
Other comprehensive income (loss)	748	542
Balance	66	(682)	(1,224)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance as of September 30, 2021	138	(674)
Other comprehensive income (loss)	875	812
Balance	1,013	138	(674)
AOCI Attributable to Parent [Member]
Balance as of September 30, 2021	(544)	(1,898)	0
Other comprehensive income (loss)	1,623	1,354
Balance	$ 1,079	$ (544)	$ (1,898)

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Unrecognized Tax Benefits, Interest on Income Taxes Expense	$ 0	$ 0
Domestic Tax Jurisdiction [Member]
Accrued Income Taxes, Current	$ 30,000
Operating Loss Carryforwards		0
Domestic Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year	2019 2020 2021 2022 2023 2024
Foreign Tax Jurisdiction, Other [Member]
Income Taxes Receivable	$ 5,000
Foreign Tax Jurisdiction, Other [Member] | Finnish Tax Administration [Member]
Operating Loss Carryforwards		1,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 64,000	0
Open Tax Year	2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	$ 370,000	$ 255,000
State and Local Jurisdiction [Member] | Research and Development and Alternative Minimum Tax Credit Carryforwards [Member]
Deferred Tax Assets, Valuation Allowance	0
Foreign Tax Jurisdiction [Member] | Finnish Tax Administration [Member]
Operating Loss Carryforwards	$ 1,851,000
Foreign Tax Jurisdiction [Member] | Ministry of Finance Finland [Member] | Nestor Cables [Member]
Open Tax Year	2020 2021 2022 2023 2024

Note 6 - Income Taxes - Income

Note 6 - Income Taxes - Income Tax Expense (Benefit) Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Federal	$ 385	$ 9,449	$ 13,230
State	(114)	1,435	1,532
Foreign	4	144	48
Current income tax expense	275	11,028	14,810
Federal	(3,092)	(1,751)	(509)
State	(427)	(251)	6
Foreign	(559)	53	165
Deferred income tax expense	(4,078)	(1,949)	(334)
Income tax expense	$ (3,803)	$ 9,079	$ 14,472

Note 6 - Income Taxes - Reconci

Note 6 - Income Taxes - Reconciliation of the Federal Statutory Income Tax Rate (Details)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2022	Sep. 30, 2021
Federal statutory rate	21%	21%	21%
State income taxes	3.90%	2.80%	2.10%
Foreign income taxes	(1.50%)	(0.10%)	0.40%
Permanent differences	0%	0.80%	4.60%
Research and development credits	0.80%	(1.00%)	(0.50%)
Excess tax benefits from stock-based compensation	(0.80%)	(1.70%)	(4.90%)
Effective Tax rate	23.40%	21.80%	22.70%

Note 6 - Income Taxes - Signifi

Note 6 - Income Taxes - Significant Components of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Inventories	$ 4,241	$ 2,154
R&D expenses	1,328	832
Stock-based compensation	1,042	600
Accrued expenses and reserves	427	515
Property and equipment depreciation, assets	4
Property and equipment depreciation, liabilities		(683)
Net operating loss carry forwards and credits	726	201
Foreign currency translation loss	0	0
Total deferred tax asset	7,768	3,619
Goodwill	(1,146)	(1,123)
Unrealized loss on investments, liabilities	(16)
Unrealized loss on investments, assets		204
Prepaid expenses	(141)	(193)
Intangibles	(254)	(153)
Foreign currency translation gain	(238)	(36)
Total deferred tax liability	(1,795)	(1,301)
Net deferred tax asset	$ 5,973	$ 2,318

Note 7 - Concentrations (Detail

Note 7 - Concentrations (Details Textual)	12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022
Property, Plant and Equipment, Net	$ 23,953,000	$ 21,527,000
MEXICO
Property, Plant and Equipment, Net	5,395,000	7,003,000
Oulu, Finland [Member] | Nestor Cables [Member]
Property, Plant and Equipment, Net	7,093,000	$ 6,703,000
Keila, Estonia [Member] | Nestor Cables [Member]
Property, Plant and Equipment, Net	$ 989,000
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	2	1	1
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk, Percentage	15%	16%	14%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration Risk, Percentage	11%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers	3	3
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk, Percentage	16%	16%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Concentration Risk, Percentage	11%	13%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Concentration Risk, Percentage	10%	11%

Note 7 - Concentrations - Disag

Note 7 - Concentrations - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 166,705	$ 268,720	$ 270,883
Percent of net sales	100%	100%	100%
Broadband Service Providers [Member]
Percent of net sales	94%	97%	99%
Legacy Customers [Member]
Percent of net sales	6%	3%	1%
Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	$ 166,705	$ 268,720	$ 270,883
UNITED STATES | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	122,483	218,835	255,607
Non-US [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member]
Net sales	$ 44,222	$ 49,885	$ 15,276

Note 8 - Employee Benefit Plan

Note 8 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1,087,000	$ 1,017,000	$ 1,129,000
Nestor Cables [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1,328,000	$ 1,112,000
Employee Wages, Accrued for Monthly, Percent	17.60%		17.40%
Nestor [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 204,000
Employee Wages, Accrued for Monthly, Percent		1,830%
First Level of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3%
Second Level Of Matching [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	3%

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)				1 Months Ended		12 Months Ended
	Apr. 30, 2024 USD ($)	May 11, 2023 EUR (€)	Jul. 31, 2021 USD ($) ft²	Apr. 30, 2024 USD ($)	Apr. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($) ft²	Sep. 30, 2024 EUR (€) ft²	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Nov. 19, 2021 ft²	Jan. 01, 2015 ft²
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability						$ 4,731,000		$ 3,776,000	$ 12,016,000
Operating Lease, Weighted Average Remaining Lease Term						5 years 2 months 12 days	5 years 2 months 12 days	5 years 1 month 28 days	4 years 14 days
Operating Lease, Weighted Average Discount Rate, Percent						6.59%	6.59%	3.59%	3.22%
Operating Lease, Payments						$ 4,222,000		$ 3,954,000	$ 2,064,000
Tabasalu, Estonia [Member]
Area of Real Estate Property | ft²						49,000	49,000
Lessee, Operating Lease, Term of Contract						10 years	10 years
Operating Lease, Monthly Payment | €		€ 25,000			€ 20,400
Operating Lease, Payments, Annual Increase, Percentage		5%
7050 Winnetka Avenue North, Brooklyn Park, Minnesota [Member]
Area of Real Estate Property | ft²											85,000
Lessee, Operating Lease, Term of Contract											10 years
Lessee, Operating Lease, Renewal Term (Year)	3 years			3 years	3 years
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability				$ 1,337,000
Tijuana, Mexico 3 [Member]
Area of Real Estate Property | ft²			318,000
Lessee, Operating Lease, Renewal Term (Year)						5 years	5 years
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability				$ 8,637,000
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract			7 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, Lease Not yet Commenced, Term of Contract			5 years
Tijuana, Mexico 3 [Member] | Termination of Lease [Member]
Increase (Decrease) in Operating Lease Liability	$ (5,610,000)
Brooklyn Part, MN [Member]
Area of Real Estate Property | ft²										105,000
Lessee, Operating Lease, Lease Not yet Commenced, Renewal Term (Year)										5 years
Oulu, Finland [Member]
Operating Lease, Monthly Payment | €							€ 40,000
Oulu, Finland [Member] | Nestor Cables Lease [Member]
Area of Real Estate Property | ft²						25,000	25,000

Note 9 - Leases - Operating Lea

Note 9 - Leases - Operating Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Total lease expense	$ 4,554	$ 4,311	$ 2,801
Cost of Sales [Member]
Total lease expense	4,231	4,067	2,534
Selling, General and Administrative Expenses [Member]
Total lease expense	$ 323	$ 244	$ 277

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2024 USD ($)
FY 2024	$ 4,321
FY 2025	4,382
FY 2026	3,451
FY 2027	2,867
FY 2028	1,566
Thereafter	2,576
Total lease payments	19,163
Less: Interest	(3,035)
Present value of lease liabilities	$ 16,128

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual)			1 Months Ended	12 Months Ended
	Aug. 05, 2024	Apr. 27, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		us-gaap:SecuredOvernightFinancingRateSofrMember
Senior Loan Agreement [Member]
Debt Instrument, Face Amount			$ 2,000,000
Debt Instrument, Term (Year)			3 years
Debt Instrument, Covenant, Interest Payment Cap			5%
Debt Instrument, Covenant, Interest Penalty			2%
Long-Term Debt				$ 2,228,000	€ 2,000,000	$ 2,112,000	€ 2,000,000	$ 1,966,000	€ 2,000,000
Revolving Credit Facility [Member] | Loan and Security Agreement With Bremer Bank, National Association [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 40,000,000
Debt Instrument, Basis Spread on Variable Rate		1.85%
Debt Instrument, Minimum Interest Rate Required		1.80%
Debt Instrument, Interest Rate During Period				7.05%
Debt Instrument, Covenant, Minimum Debt Service Coverage Ratio	1.2	1.2
Debt Instrument, Covenant, Maximum Debt to Cash Flow Ratio	2	2
Long-Term Line of Credit						$ 16,700,000
Debt Instrument, Collateral Amount				$ 300,472,000

Note 11 - Acquisition of Nest_3

Note 11 - Acquisition of Nestor Cables (Details Textual) € in Millions			12 Months Ended
	Jul. 26, 2022 USD ($)	Jul. 26, 2022 EUR (€)	Sep. 30, 2022 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Goodwill, Ending Balance				$ 6,627,000	$ 6,528,000	$ 6,528,000	$ 6,402,000
Nestor Cables [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100%
Business Combination, Consideration Transferred, Total	$ 8,000,000	€ 7.9
Business Combination, Consideration Transferred, Liabilities Incurred	7,800,000	€ 7.6
Goodwill, Ending Balance	$ 1,762,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life (Year)	12 years 9 months 25 days	12 years 9 months 25 days
Nestor Cables [Member] | Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs			$ 1,600,000
Nestor Cables [Member] | Approximate [Member]
Goodwill, Ending Balance	$ 1,700,000
Nestor Cables [Member] | Revolving Credit Facility [Member]
Proceeds from Lines of Credit	$ 16,700,000

Note 11 - Acquisition of Nest_4

Note 11 - Acquisition of Nestor Cables - Summary of Estimated Fair Value of Assets and Liabilities Acquired (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Jul. 26, 2022
Goodwill	$ 6,627	$ 6,528	$ 6,528	$ 6,402
Nestor Cables [Member]
Cash					$ 72
Accounts receivables					10,562
Inventories					11,377
Other current assets					173
Total current assets					22,184
Property and equipment					7,689
Intangibles assets					1,840
Right of use lease asset					1,297
Goodwill					1,762
Other					55
Total assets					34,827
Accounts payable					5,839
Accrued compensation					1,430
Accrued expenses					1,916
Deferred tax liability					621
Lease liability					1,297
Factoring liability					5,849
Long term debt					2,045
Total liabilities					18,997
Net assets acquired					$ 15,830

Note 12 - Segment Reporting (De

Note 12 - Segment Reporting (Details Textual)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2022
Number of Reportable Segments	2	2

Note 12 - Segment Reporting - R

Note 12 - Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 166,705,000	$ 268,720,000	$ 270,883,000
Revenue from internal customers (Clearfield, Inc.)	0	0
Net investment income	7,472,000	5,206,000
Interest expense	506,000	881,000
Depreciation and amortization	7,411,000	6,054,000	3,426,000
Stock based compensation	4,641,000	3,578,000	2,339,000
Income taxes	(3,803,000)	9,079,000	14,472,000
Net Income	(12,453,000)	32,533,000	$ 49,362,000
Capital Expenditures	9,567,000	7,684,000
Intersegment Eliminations [Member]
Net sales	0	0
Revenue from internal customers (Clearfield, Inc.)	(2,329,000)	(5,408,000)
Net investment income	(239,000)	(116,000)
Interest expense	(235,000)	(116,000)
Depreciation and amortization	0	0
Stock based compensation	0	0
Income taxes	0	0
Net Income	169,000	(1,020,000)
Capital Expenditures	0	0
Clearfield [Member] | Operating Segments [Member]
Net sales	125,568,000	225,722,000
Revenue from internal customers (Clearfield, Inc.)	58,000	0
Net investment income	7,711,000	5,315,000
Interest expense	0	170,000
Depreciation and amortization	5,933,000	4,598,000
Stock based compensation	4,374,000	3,528,000
Income taxes	(3,248,000)	8,883,000
Net Income	(9,198,000)	32,834,000
Capital Expenditures	7,940,000	6,759,000
Nestor Cables [Member] | Operating Segments [Member]
Net sales	41,137,000	42,998,000
Revenue from internal customers (Clearfield, Inc.)	2,271,000	5,408,000
Net investment income	0	7,000
Interest expense	741,000	827,000
Depreciation and amortization	1,478,000	1,456,000
Stock based compensation	267,000	50,000
Income taxes	(555,000)	196,000
Net Income	(3,424,000)	719,000
Capital Expenditures	$ 1,627,000	$ 925,000

Note 12 - Segment Reporting -_2

Note 12 - Segment Reporting - Reconciliation of Assets from Segments to Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Goodwill	$ 6,627	$ 6,528	$ 6,528	$ 6,402
Total assets	315,275		355,517
Clearfield [Member]
Goodwill	4,709	$ 4,709	4,709	$ 4,709
Operating Segments [Member] | Clearfield [Member]
Goodwill	4,709		4,709
Total assets	300,472		335,412
Operating Segments [Member] | Nestor Cables [Member]
Goodwill	1,918		1,819
Total assets	38,773		43,550
Intersegment Eliminations [Member]
Goodwill	0		0
Total assets	$ (23,970)		$ (23,445)

Note 13 - Financing Receivabl_2

Note 13 - Financing Receivables (Details Textual) € in Millions	12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2024 EUR (€)
Factoring Liabilities	$ 2,920,000	$ 6,289,000	$ 4,391,000
Financing Receivables, Percentage of Cash Initially Received	80%			80%
Financing Receivable, Percentage of Balance Received When Invoice is Paid	20%			20%
Financing Receivable, Limit	$ 13,900,000			€ 12.5
Financing Receivable, Average Interest Rate During Period	5.12%	3.89%	2.14%
Minimum [Member]
Agreement Termination Period (Month)	0 months
Minimum [Member] | Euribor [Member]
Financing Receivable, Interest Rate, Basis Spread on Variable Rate	0.75%
Maximum [Member]
Agreement Termination Period (Month)	1 month
Maximum [Member] | Euribor [Member]
Financing Receivable, Interest Rate, Basis Spread on Variable Rate	1.30%