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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $32.9M, roughly 1.0× FTC Solar, Inc.). Clearfield, Inc. runs the higher net margin — -1.8% vs -110.7%, a 109.0% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs -3.2%). Clearfield, Inc. produced more free cash flow last quarter ($-2.4M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
CLFD vs FTCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $32.9M |
| Net Profit | $-614.0K | $-36.4M |
| Gross Margin | 33.2% | 14.9% |
| Operating Margin | -5.3% | -17.2% |
| Net Margin | -1.8% | -110.7% |
| Revenue YoY | -3.2% | 148.9% |
| Net Profit YoY | 67.8% | -197.4% |
| EPS (diluted) | $-0.04 | $-2.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $34.3M | $32.9M | ||
| Q3 25 | $23.4M | $26.0M | ||
| Q2 25 | $49.9M | $20.0M | ||
| Q1 25 | $47.2M | $20.8M | ||
| Q4 24 | $29.7M | $13.2M | ||
| Q3 24 | $5.6M | $10.1M | ||
| Q2 24 | $48.8M | $11.4M | ||
| Q1 24 | $36.9M | $12.6M |
| Q4 25 | $-614.0K | $-36.4M | ||
| Q3 25 | $-9.1M | $-23.9M | ||
| Q2 25 | $1.6M | $-15.4M | ||
| Q1 25 | $1.3M | $-3.8M | ||
| Q4 24 | $-1.9M | $-12.2M | ||
| Q3 24 | — | $-15.4M | ||
| Q2 24 | $-447.0K | $-12.2M | ||
| Q1 24 | $-5.9M | $-8.8M |
| Q4 25 | 33.2% | 14.9% | ||
| Q3 25 | 53.2% | 6.1% | ||
| Q2 25 | 30.5% | -19.6% | ||
| Q1 25 | 30.1% | -16.6% | ||
| Q4 24 | 29.2% | -29.1% | ||
| Q3 24 | — | -42.5% | ||
| Q2 24 | 21.9% | -20.5% | ||
| Q1 24 | 7.7% | -16.7% |
| Q4 25 | -5.3% | -17.2% | ||
| Q3 25 | 10.3% | -29.6% | ||
| Q2 25 | 3.0% | -57.5% | ||
| Q1 25 | 0.6% | -50.8% | ||
| Q4 24 | -6.9% | -101.7% | ||
| Q3 24 | — | -147.8% | ||
| Q2 24 | -4.7% | -104.3% | ||
| Q1 24 | -26.4% | -99.3% |
| Q4 25 | -1.8% | -110.7% | ||
| Q3 25 | -38.8% | -92.0% | ||
| Q2 25 | 3.2% | -77.2% | ||
| Q1 25 | 2.8% | -18.4% | ||
| Q4 24 | -6.4% | -92.7% | ||
| Q3 24 | — | -151.5% | ||
| Q2 24 | -0.9% | -107.1% | ||
| Q1 24 | -16.0% | -69.7% |
| Q4 25 | $-0.04 | $-2.31 | ||
| Q3 25 | $-0.65 | $-1.61 | ||
| Q2 25 | $0.11 | $-1.18 | ||
| Q1 25 | $0.09 | $-0.58 | ||
| Q4 24 | $-0.13 | $-0.95 | ||
| Q3 24 | — | $-1.21 | ||
| Q2 24 | $-0.04 | $-0.97 | ||
| Q1 24 | $-0.40 | $-0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $96.4M | $21.1M |
| Total DebtLower is stronger | — | $9.9M |
| Stockholders' EquityBook value | $249.7M | $-43.0M |
| Total Assets | $268.1M | $111.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $21.1M | ||
| Q3 25 | $106.0M | $24.4M | ||
| Q2 25 | $117.2M | $3.5M | ||
| Q1 25 | $112.0M | $5.9M | ||
| Q4 24 | $113.0M | $11.2M | ||
| Q3 24 | $129.0M | $8.3M | ||
| Q2 24 | $123.8M | $10.8M | ||
| Q1 24 | $142.9M | $14.0M |
| Q4 25 | — | $9.9M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | — | $10.9M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | $2.2M | — | ||
| Q2 24 | $2.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | $249.7M | $-43.0M | ||
| Q3 25 | $256.2M | $-13.7M | ||
| Q2 25 | $264.5M | $9.0M | ||
| Q1 25 | $265.9M | $15.5M | ||
| Q4 24 | $267.4M | $19.0M | ||
| Q3 24 | $275.8M | $30.4M | ||
| Q2 24 | $274.6M | $44.2M | ||
| Q1 24 | $279.2M | $55.2M |
| Q4 25 | $268.1M | $111.8M | ||
| Q3 25 | $306.2M | $111.5M | ||
| Q2 25 | $314.7M | $83.0M | ||
| Q1 25 | $310.9M | $84.1M | ||
| Q4 24 | $303.2M | $89.9M | ||
| Q3 24 | $315.3M | $91.7M | ||
| Q2 24 | $318.1M | $100.3M | ||
| Q1 24 | $315.4M | $115.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.4M | $-8.0M |
| Free Cash FlowOCF − Capex | $-2.4M | $-8.4M |
| FCF MarginFCF / Revenue | -7.1% | -25.7% |
| Capex IntensityCapex / Revenue | 2.9% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $-8.0M | ||
| Q3 25 | — | $-14.6M | ||
| Q2 25 | $7.9M | $-2.3M | ||
| Q1 25 | $3.0M | $-8.5M | ||
| Q4 24 | $7.2M | $-16.7M | ||
| Q3 24 | $22.2M | $-2.4M | ||
| Q2 24 | $4.0M | $-3.8M | ||
| Q1 24 | $-5.7M | $-11.9M |
| Q4 25 | $-2.4M | $-8.4M | ||
| Q3 25 | — | $-15.1M | ||
| Q2 25 | $7.5M | $-2.5M | ||
| Q1 25 | $654.0K | $-8.6M | ||
| Q4 24 | $5.1M | $-17.0M | ||
| Q3 24 | $18.2M | $-2.6M | ||
| Q2 24 | $2.8M | $-4.5M | ||
| Q1 24 | $-7.7M | $-12.3M |
| Q4 25 | -7.1% | -25.7% | ||
| Q3 25 | — | -57.9% | ||
| Q2 25 | 15.1% | -12.4% | ||
| Q1 25 | 1.4% | -41.2% | ||
| Q4 24 | 17.1% | -128.6% | ||
| Q3 24 | 323.0% | -25.6% | ||
| Q2 24 | 5.8% | -39.2% | ||
| Q1 24 | -20.8% | -97.6% |
| Q4 25 | 2.9% | 1.3% | ||
| Q3 25 | 2.0% | 1.7% | ||
| Q2 25 | 0.8% | 0.9% | ||
| Q1 25 | 5.1% | 0.4% | ||
| Q4 24 | 7.0% | 2.2% | ||
| Q3 24 | 71.4% | 2.2% | ||
| Q2 24 | 2.5% | 6.1% | ||
| Q1 24 | 5.3% | 3.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.93× | — | ||
| Q1 25 | 2.30× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLFD
Segment breakdown not available.
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
