Clearfield, Inc.

Good afternoon everyone and welcome to the Clearfield fiscal third quarter 2026 conference call. All participants will be in listen only mode. Should you need any assistance please signal a conference specialist by pressing the star key followed by zero. After today's presentation there will be an opportunity to ask questions. To ask a question you may press star then one on your touchstone phone. To withdraw your question please press star then two. Please note this event is being recorded. At this time, I'd like to turn the floor over to Gregory McNiff, Investor Relations. Sir, please go ahead.

Thank you. Joining me on today's call are Sherry Beranek, Clearfield's President and CEO, and Dan Herzog, Clearfield's CFO. As a reminder, Clearfield publishes a quarterly shareholder letter which provides an overview of the company's financial results, operational highlights, and future outlook. You can find both the shareholder letter and the earnings release on Clearfield's investor relations website. After brief prepared remarks, we will open the floor for a question and answer session. Please note that during this call, management will be making remarks regarding future events and the future financial performance of the company. These remarks constitute forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. It is important to also note that the company undertakes no obligation to update such statements except as required by law. The company cautions you to consider risk factors that could cause actual results to differ materially from those in the forward-looking statements contained in today's press release, shareholder letter, and on this conference call. The risk factor section in Clearfield's most recent Form 10-K filing with the Securities and Exchange Commission and its subsequent filings on Form 10-Q provide a description of these risks. With that, I will turn the call over to Sherry. Sherry?

Good afternoon, everyone, and thank you for joining us to discuss Clearfield's results for the third quarter of fiscal 2026. I'll begin with an overview of the quarter and our strategic priorities, and then I'll turn the call over to Dan to review the financial details and outlook. Third quarter net sales were $43.9 million, gross margin was 31.8%, and net income per diluted share from continuing operations was 22 cents. Our results reflect continued progress, executing on our strategic priorities, while reinforcing the strengths that have defined Clearfield. We are increasingly focused on positioning the company for its next phase of growth as a strategic digital infrastructure connectivity provider within the data center marketplace. That progress was highlighted shortly after the close of third quarter when we received our first significant order to support a hyperscale data center project, accelerating our expansion into the data center connectivity market. The initial purchase order totals approximately $22 million, which we expect to begin shipments in early fiscal 2027. Equally important was how this opportunity developed. We became involved early in the design process, working collaboratively to develop a connectivity solution tailored to the end user's deployment requirements. That collaboration led to an expansion of our Innova platform with the addition of a new panel developed in conjunction with the customer. which we intend to standardize and introduce to the broader data center market later this calendar year. This approach reflects the same design principles that have differentiated Clearfield for years in broadband deployments. As demand for high density fiber infrastructure continues to grow, we believe our expertise in delivering modular, labor-efficient connectivity solutions positions us well to actively engage in this expanding market. While it is too early to predict the size or timing of future opportunities, this initial engagement demonstrates that our strategy is resonating with customers and broadening our addressable market. We believe it represents an important step toward creating long-term shareholder value. Turning to the broadband market, the slow pace of the BEAD program continues to influence customer planning decisions across the broadband industry. While states have made meaningful progress developing deployment plans, continued delays in federal approvals and funding disbursements are affecting both BEAD-funded and other commercial projects. These headwinds, combined with higher deployment, labor, and material costs, as well as the constraint of limited fiber availability, have resulted in a slower deployment environment and extended project timelines across much of the industry. The impact of the slower broadband deployment environment is reflected in our bookings for the quarter ended June 30, 2026. Despite these near-term dynamics, we continue to believe the long-term opportunity for fiber deployment remains intact. While the timing of broadband deployment remains uncertain, we continue to invest in technologies that solve our customers' challenges. As broadband, wireless, data center, and edge computing networks continue to expand, customers increasingly look for ways to make deployments faster, simpler, and more efficient. One example of our new technology offerings is our recently announced fault-managed power portfolio, which enables customers to deliver both fiber connectivity and power to difficult-to-reach locations through a single, coordinated solution. By bringing fiber and power together, customers can reduce deployment complexity and create a more flexible foundation for future network growth. We believe this offering expands the role Clearfield can play in supporting our customers as their network needs continue to evolve. With that, I'll turn the call over to Dan to review our financials and outlook in more detail.