Franklin Wireless (FKWL)
Market Price (7/26/2026): $2.34 | Market Cap: $27.6 MilSector: Information Technology | Industry: Communications Equipment
Franklin Wireless (FKWL)
Market Price (7/26/2026): $2.34Market Cap: $27.6 MilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -115% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% Low stock price volatilityVol 12M is 35% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Internet of Things. Themes include Wireless Services, Network Equipment, Show more. | Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -91% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.3% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2%, Rev Chg QQuarterly Revenue Change % is -57% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -12% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.9% Key risksFKWL key risks include [1] an extreme customer concentration, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -115% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Internet of Things. Themes include Wireless Services, Network Equipment, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -91% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -2.2 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.3% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -23%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.2%, Rev Chg QQuarterly Revenue Change % is -57% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -9.2%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -12% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.9% |
| Key risksFKWL key risks include [1] an extreme customer concentration, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Franklin Wireless (FKWL) stock has lost about 40% since 3/31/2026 because of the following key factors:
1. Significant Revenue Contraction in Fiscal Q3 2026. Franklin Wireless reported a substantial decrease in revenue for its fiscal third quarter ended March 31, 2026. Revenue was $3.44 million, representing a 57% decline from $8.01 million in the comparable year-ago quarter.
2. Discontinuation of a Key Carrier Product. The sharp drop in revenue during fiscal Q3 2026 was primarily driven by the discontinuation of a key product for a major carrier. Franklin Wireless does not anticipate material future sales from this product, which significantly impacted sales, particularly in North America.
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Franklin Wireless (FKWL) stock has lost about 40% since 3/31/2026 because of the following key factors:
1. Significant Revenue Contraction in Fiscal Q3 2026. Franklin Wireless reported a substantial decrease in revenue for its fiscal third quarter ended March 31, 2026. Revenue was $3.44 million, representing a 57% decline from $8.01 million in the comparable year-ago quarter.
2. Discontinuation of a Key Carrier Product. The sharp drop in revenue during fiscal Q3 2026 was primarily driven by the discontinuation of a key product for a major carrier. Franklin Wireless does not anticipate material future sales from this product, which significantly impacted sales, particularly in North America.
3. Widening Net Loss and EPS Miss. For fiscal Q3 2026, the company posted a net loss attributable to the parent company of $1.56 million, or diluted earnings per share (EPS) of $(0.13). This marks a significant widening of losses compared to a net loss of $0.64 million, or $(0.05) EPS, in the prior-year quarter.
4. Strategic Pivot Amid Operational Headwinds. Franklin Wireless is undergoing a strategic shift, accelerating its transition from consumer hotspots toward commercial and industrial connectivity products. This pivot has been accompanied by increased manufacturing and supply-chain complexity, including memory shortages and delivery timing issues affecting Tier-1 customers.
5. Substantial Increase in Inventory and Cash Usage. Inventories surged to $7.93 million as of March 31, 2026, up from $2.36 million at the end of fiscal 2025. This significant inventory build was a primary factor in the net cash usage of $5.56 million in operating activities for the first nine months of fiscal 2026.
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Stock Movement Drivers
Fundamental Drivers
The -38.6% change in FKWL stock from 3/31/2026 to 7/25/2026 was primarily driven by a -30.6% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.81 | 2.34 | -38.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 40 | 35 | -11.5% |
| P/S Multiple | 1.1 | 0.8 | -30.6% |
| Shares Outstanding (Mil) | 12 | 12 | 0.0% |
| Cumulative Contribution | -38.6% |
Market Drivers
3/31/2026 to 7/25/2026| Return | Correlation | |
|---|---|---|
| FKWL | -38.6% | |
| Market (SPY) | 13.6% | -5.0% |
| Sector (XLK) | 32.3% | -9.4% |
Fundamental Drivers
The -46.5% change in FKWL stock from 12/31/2025 to 7/25/2026 was primarily driven by a -30.5% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.37 | 2.34 | -46.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 46 | 35 | -23.0% |
| P/S Multiple | 1.1 | 0.8 | -30.5% |
| Shares Outstanding (Mil) | 12 | 12 | 0.0% |
| Cumulative Contribution | -46.5% |
Market Drivers
12/31/2025 to 7/25/2026| Return | Correlation | |
|---|---|---|
| FKWL | -46.5% | |
| Market (SPY) | 8.7% | -6.7% |
| Sector (XLK) | 22.3% | -9.8% |
Fundamental Drivers
The -43.6% change in FKWL stock from 6/30/2025 to 7/25/2026 was primarily driven by a -27.1% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.15 | 2.34 | -43.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 45 | 35 | -22.6% |
| P/S Multiple | 1.1 | 0.8 | -27.1% |
| Shares Outstanding (Mil) | 12 | 12 | 0.0% |
| Cumulative Contribution | -43.6% |
Market Drivers
6/30/2025 to 7/25/2026| Return | Correlation | |
|---|---|---|
| FKWL | -43.6% | |
| Market (SPY) | 20.6% | -3.5% |
| Sector (XLK) | 39.5% | -7.0% |
Fundamental Drivers
The -36.8% change in FKWL stock from 6/30/2023 to 7/25/2026 was primarily driven by a -25.9% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7252026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.70 | 2.34 | -36.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 41 | 35 | -14.7% |
| P/S Multiple | 1.1 | 0.8 | -25.9% |
| Shares Outstanding (Mil) | 12 | 12 | 0.0% |
| Cumulative Contribution | -36.8% |
Market Drivers
6/30/2023 to 7/25/2026| Return | Correlation | |
|---|---|---|
| FKWL | -36.8% | |
| Market (SPY) | 72.6% | 4.9% |
| Sector (XLK) | 106.1% | 2.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FKWL Return | -13% | 2% | -24% | 45% | -10% | -46% | -53% |
| Peers Return | 54% | -14% | 11% | 20% | 69% | 44% | 333% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| FKWL Win Rate | 17% | 42% | 33% | 67% | 33% | 0% | |
| Peers Win Rate | 68% | 38% | 50% | 57% | 63% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| FKWL Max Drawdown | -85% | -42% | -47% | -19% | -46% | -47% | |
| Peers Max Drawdown | -20% | -36% | -38% | -32% | -33% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: VSAT, ADTN, CSCO, ANET, MSI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/24/2026 (YTD)
How Low Can It Go
| Event | FKWL | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -18.9% | -9.5% |
| % Gain to Breakeven | 23.2% | 10.5% |
| Time to Breakeven | 253 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.3% | -6.7% |
| % Gain to Breakeven | 67.4% | 7.1% |
| Time to Breakeven | 581 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.4% | 32.4% |
| Time to Breakeven | 100 days | 427 days |
| 2013 Taper Tantrum | ||
| % Loss | -18.7% | -0.2% |
| % Gain to Breakeven | 23.1% | 0.2% |
| Time to Breakeven | 35 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -53.0% | -17.9% |
| % Gain to Breakeven | 112.6% | 21.8% |
| Time to Breakeven | 364 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -26.5% | -15.4% |
| % Gain to Breakeven | 36.1% | 18.2% |
| Time to Breakeven | 99 days | 125 days |
In The Past
Franklin Wireless's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | FKWL | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.3% | -6.7% |
| % Gain to Breakeven | 67.4% | 7.1% |
| Time to Breakeven | 581 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.4% | 32.4% |
| Time to Breakeven | 100 days | 427 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -53.0% | -17.9% |
| % Gain to Breakeven | 112.6% | 21.8% |
| Time to Breakeven | 364 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -26.5% | -15.4% |
| % Gain to Breakeven | 36.1% | 18.2% |
| Time to Breakeven | 99 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -88.1% | -53.4% |
| % Gain to Breakeven | 738.2% | 114.4% |
| Time to Breakeven | 811 days | 1085 days |
In The Past
Franklin Wireless's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Franklin Wireless (FKWL)
Franklin Wireless Corp. (FKWL) is a technology company specializing in intelligent wireless solutions. The company develops and integrates hardware and software to facilitate machine-to-machine (M2M) applications and the Internet of Things (IoT). Their core offering revolves around providing connectivity and communication infrastructure for various devices.
The company's primary products include mobile hotspots, routers, and trackers, which allow for portable and reliable internet access and asset monitoring. Beyond these consumer-facing devices, Franklin Wireless also offers more specialized M2M and IoT solutions, such as embedded modules, modems, and gateways. These products are engineered to deliver robust connectivity, leveraging advanced 5G and 4G wireless technologies, to support a broad spectrum of industrial and commercial applications.
Franklin Wireless primarily sells its solutions directly to major wireless operators. Additionally, the company expands its market reach indirectly through a network of strategic partners and distributors. Their main geographical markets include North America, the Caribbean, South America, and Asia, catering to businesses and operators seeking to deploy advanced wireless communication and IoT capabilities.
```AI Analysis | Feedback
Here are 1-3 brief analogies for Franklin Wireless (FKWL):
Franklin Wireless is like the company that builds the specialized wireless hotspots, modems, and IoT devices that major phone carriers (such as Verizon or AT&T) often brand and sell, similar to how Samsung or LG manufacture phones for carriers.
Think of Franklin Wireless as a provider of robust, industrial-grade wireless routers, hotspots, and IoT connectivity devices for businesses and telecom operators, akin to a specialized Netgear or TP-Link but for non-consumer markets.
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Franklin Wireless (FKWL) Major Products:
- Mobile Hotspots: Portable devices that allow multiple users to connect to the internet wirelessly using a cellular network.
- Routers: Devices that forward data packets between computer networks, often providing internet access to multiple devices in a location.
- Trackers: Devices used for monitoring the location or movement of assets, vehicles, or people, often for M2M and IoT applications.
- Embedded Modules: Small, integrated hardware components designed to provide wireless connectivity within larger M2M and IoT devices.
- Modems and Gateways: Devices that facilitate wireless data transmission and connectivity, often serving as a bridge for M2M and IoT solutions utilizing 5G/4G technology.
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Major Customers of Franklin Wireless (FKWL)
Franklin Wireless Corp. primarily sells its products and solutions to other companies (B2B). Its major customers are wireless operators, strategic partners, and distributors who integrate Franklin Wireless's devices and IoT solutions into their own offerings for end-users or businesses.
Based on company filings and industry analysis, Franklin Wireless has historically derived, and continues to derive, a significant portion of its revenue from a few major North American wireless carriers. While specific customer names are often not explicitly disclosed in SEC filings due to confidentiality, financial reports have indicated a very high concentration of sales to one primary customer, and historically, a second significant customer.
The major customer companies are:
- Verizon Communications Inc. (NYSE: VZ) - Widely considered Franklin Wireless's largest customer, accounting for a very significant portion of its total net sales.
- T-Mobile US, Inc. (NASDAQ: TMUS) - Also a significant customer for Franklin Wireless's products, especially after its merger with Sprint.
These carriers distribute Franklin Wireless's mobile hotspots, routers, and IoT devices under their own brand names or as part of their service offerings to their own consumer and business customers.
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- Qualcomm (QCOM)
- Samsung (005930.KR)
- MediaTek (2454.TW)
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OC Chae Kim was appointed President and Chief Executive Officer of Franklin Wireless in September 2003. He brings over 25 years of experience in sales, marketing, and operations management within the telecommunications and information systems industries, with a focus on developing cell phones, modules, and wireless devices. Mr. Kim founded Accetio Inc. in April 2001, a company that developed cell phones and modules for the telecommunications industry. Accetio Inc. subsequently merged with Franklin Telecommunications Corp. in September 2003, leading to the renaming of the company to Franklin Wireless. Prior to founding Accetio Inc., he served as the Chief Operating Officer of Axesstel Inc., a developer of CDMA Wireless Local Loop Products. He also held the position of president of the U.S. sales office for Kolon Data Communications Co., Ltd., a prominent Korean technology conglomerate, where he was involved in introducing the first generation of CDMA phones to the Korean market.
Reid Granados, Interim Chief Financial OfficerReid Granados was appointed Interim Chief Financial Officer of Franklin Wireless, effective January 1, 2025. He brings over 20 years of experience in finance and executive management to the role.
Yun J. Lee, Senior Vice President of SalesYun J. Lee serves as the Senior Vice President of Sales, also noted as VP of Sales & Marketing, Global Carrier Business, for Franklin Wireless.
William Bauer, Secretary, General Counsel, and Director of Strategic AffairsWilliam Bauer holds the titles of Secretary, General Counsel, and Director of Strategic Affairs. He previously served as acting Chief Financial Officer of Franklin Wireless until January 1, 2025, when he resigned from that interim position to continue in his other roles.
Johnathan Chee, Chairman of the BoardJohnathan Chee has served as a director of Franklin Wireless since September 2009 and is the Chairman of the Board. He is an attorney and has been the owner of the Law Offices of Johnathan Chee in Niles, Illinois, since August 2007. Previously, he was an attorney with the C&S Law Group, P.C., from 1998 to 2007.
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The key risks to Franklin Wireless's business include its significant dependence on a small number of customers, its volatile and unpredictable revenue streams due to a lack of diversification, and intense competition in the wireless equipment market coupled with a limited research and development budget.
- Customer Concentration: Franklin Wireless is highly dependent on a very small number of major telecommunication carriers for a substantial portion of its revenue. For the fiscal year ended June 30, 2025, the two largest customers accounted for 60.9% and 33.5% of the company's consolidated net sales, respectively. These agreements with key customers do not obligate them to purchase a specific quantity of products, making the company vulnerable to shifts in their purchasing decisions or the loss of these relationships.
- Volatile Revenue Streams and Lack of Diversification: The company's business model, heavily reliant on large, non-recurring hardware orders from a few customers, leads to highly volatile or "lumpy" revenue streams. This lack of diversification means that financial performance can fluctuate dramatically based on single product contracts, as exemplified by a surge in revenue during the pandemic followed by a sharp decline when a specific program ended. Franklin Wireless's future growth largely hinges on securing new, large contracts from telecom carriers, contributing to unpredictable financial results.
- Intense Competition and Limited R&D Budget: Operating in a highly competitive wireless equipment market, Franklin Wireless is described as a small, niche player with a weak competitive position. Compared to larger competitors, the company has a significantly smaller research and development budget, which makes it challenging to compete effectively on price and specifications for major contracts and to keep pace with technological advancements. This intense competition can lead to pressure on pricing and profit margins.
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The increasing integration of cellular connectivity (including 5G/4G modems) directly into System-on-Chip (SoC) solutions by major semiconductor manufacturers, coupled with the growing adoption of eSIM/iSIM technologies, poses a clear emerging threat. This trend enables device manufacturers to embed connectivity more deeply and cost-effectively into their products, potentially reducing the need for standalone cellular modules, modems, or gateways provided by specialized hardware companies like Franklin Wireless. This shift could lead to the commoditization of discrete connectivity hardware and displace Franklin Wireless from parts of its core M2M and IoT markets by offering a more integrated and flexible alternative.
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Addressable Markets for Franklin Wireless (FKWL) Products and Services
Franklin Wireless Corp. provides a range of intelligent wireless solutions, including mobile hotspots, routers, trackers, embedded modules, modems, and gateways for Machine-to-Machine (M2M) and Internet of Things (IoT) applications, leveraging 5G/4G wireless technology. The addressable markets for their main products and services are significant across various regions.
Mobile Hotspots and Routers
- The global mobile hotspot router market was valued at approximately USD 8.5 billion in 2024 and is projected to reach USD 27.4 billion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 12.77% from 2025 to 2033. North America leads this market.
- Another estimate places the global mobile hotspot router market at USD 10.1 billion in 2025, with a projection to reach USD 46.9 billion by 2035, growing at a CAGR of 16.6%. North America is expected to account for 38.6% of the global market in 2025.
- The global wireless router market was valued at USD 17.03 billion in 2025 and is projected to grow to USD 48.76 billion by 2034, with a CAGR of 12.40% during the forecast period.
- In North America, the wireless router market was valued at USD 5.7 billion in 2025, representing 34% of the total market, and is projected to grow at a CAGR of 7.4% from 2025 to 2034. The North America Wi-Fi router market held a 56.30% share in 2025.
Trackers
- The global NB-IoT (Narrowband-IoT) trackers market was estimated at USD 5.73 billion in 2024 and is anticipated to reach USD 46.40 billion by 2034, exhibiting a CAGR of 23.2% over the forecast period.
- The global IoT-based asset tracking and monitoring market was valued at USD 5.76 billion in 2025 and is projected to grow to USD 17.36 billion by 2034, at a CAGR of 13.04%. North America accounts for approximately 36% of this global market.
M2M and IoT Solutions (including embedded modules, modems, and gateways)
- The global Machine-to-Machine (M2M) connections market size was approximately USD 40.28 billion in 2025 and is predicted to increase to USD 81.94 billion by 2035, with a CAGR of 7.36% from 2026 to 2035. North America held the largest market share, at 44.7% in 2025.
- The global 5G IoT market was valued at USD 11.83 billion in 2025 and is projected to reach USD 479.47 billion by 2034, exhibiting a significant CAGR of 50.88%. North America holds approximately 34% of this global market, while Asia-Pacific held the largest share in 2020 and 2024.
- The global IoT module market size was valued at USD 20.83 billion in 2024 and is projected to grow at a CAGR of 23.3% during 2025–2034. North America has captured a substantial share of the IoT module market.
- The global embedded systems market, which includes embedded modules, was valued at USD 110 billion in 2024 and is estimated to grow at a 6.4% CAGR from 2025 to 2034. North America dominated the embedded systems market, with a valuation of USD 47.98 billion in 2025 and a 41.82% market share.
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Franklin Wireless Corp. (FKWL) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
-
Expansion in the 5G Fixed Wireless Access (FWA) Market: Franklin Wireless is strategically shifting towards higher-margin, specialized Fixed Wireless Access (FWA) solutions, moving beyond its traditional role as a commodity mobile hotspot provider. The U.S. FWA market is projected for substantial growth, and the company has already begun shipping its 5G FWA routers, such as the JEXtream CG890. This transition positions the company to capitalize on higher-value customer-premises equipment (CPE) offerings.
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Growth in Industrial IoT (IIoT) and Enterprise Solutions: The company is actively focusing on expanding its presence in the high-margin Internet of Things (IoT) and Machine-to-Machine (M2M) applications. This includes developing and marketing various trackers and integrated software subscription services like Mobile Device Management (MDM). The global Industrial Internet of Things (IIoT) market is anticipated to grow significantly, offering a target-rich environment for Franklin Wireless's offerings. This strategic pivot has already contributed to an improved gross margin for the company.
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New Product Launches and Customer Acceptance in 5G/4G Wireless: Future revenue growth is anticipated to be influenced by sustained demand for wireless data products and the successful acceptance of newly launched products. For instance, the company launched its 5G sub-6 mobile hotspot, the JEXtream RG2100, which became available nationwide through T-Mobile, demonstrating efforts to introduce advanced connectivity solutions to the market.
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Enhancement of Software Service Offerings: Franklin Wireless is focused on improving its software service offerings to align with evolving market demands. This includes further development and integration of Mobile Device Management (MDM) and Software-Defined Wide Area Networking (SD-WAN) solutions. These services not only complement their hardware products but also offer potential for recurring revenue streams.
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Capital Allocation Decisions (Last 3-5 Years)
Share Issuance
- Franklin Wireless has maintained a consistent number of outstanding shares, with 11,784,280 shares reported as of September 29, 2025, and November 14, 2025.
- The company also reported 11,784,280 shares of common stock outstanding as of September 30, 2024.
Inbound Investments
- As of June 30, 2025, institutional investors held approximately 18.49% of Franklin Wireless, with key holders including Vanguard Group Inc, AIGH Capital Management LLC, and Geode Capital Management LLC.
- Institutional investors collectively purchased 187,128 shares, representing approximately $920.68K in transactions, within the 24 months leading up to March 12, 2026.
- Franklin Wireless's consolidated financial statements for fiscal year 2025 include subsidiaries FTI and Sigbeat Inc., where non-controlling interests hold approximately 33.7% and 40.0% respectively.
Capital Expenditures
- For the twelve months following September 30, 2024, the company projected a need for over $2 million for capital expenditures, software licenses, and new product testing and certification.
- In the second quarter of fiscal year 2026 (ended December 31, 2025), Franklin Wireless Corp. invested $7K in capital expenditures.
- Over the 12 months leading up to February 17, 2026, capital expenditures were -$14,909, contributing to a free cash flow of -$9.16 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Would You Still Hold Franklin Wireless Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 92.94 |
| Mkt Cap | 39.5 |
| Rev LTM | 7,163 |
| Op Inc LTM | 1,471 |
| FCF LTM | 1,556 |
| FCF 3Y Avg | 1,164 |
| CFO LTM | 2,172 |
| CFO 3Y Avg | 1,774 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.8% |
| Rev Chg 3Y Avg | 5.8% |
| Rev Chg Q | 9.7% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 25.6% |
| Op Inc Chg 3Y Avg | 10.6% |
| Op Mgn LTM | 11.6% |
| Op Mgn 3Y Avg | 8.1% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 22.4% |
| CFO/Rev 3Y Avg | 22.6% |
| FCF/Rev LTM | 16.5% |
| FCF/Rev 3Y Avg | 11.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sale of wireless access products | 46 | 31 | 46 | 24 | 184 |
| Total | 46 | 31 | 46 | 24 | 184 |
| $ Mil | 2000 | 1999 | 1998 |
|---|---|---|---|
| Franklin | 2 | -0 | |
| FNet | -4 | -2 | |
| Data Communications & Connectivity Products | -3 | ||
| Internet Services | -2 | ||
| Total | -2 | -2 | -5 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Sale of wireless access products | -0 | -4 |
| Total | -0 | -4 |
| $ Mil | 2000 | 1999 | 1998 |
|---|---|---|---|
| Franklin | 5 | 7 | |
| FNet | 2 | 2 | |
| Data Communications & Connectivity Products | 7 | ||
| Internet Services | 2 | ||
| Total | 7 | 9 | 9 |
Price Behavior
| Market Price | $2.34 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 02/15/2008 | |
| Distance from 52W High | -54.8% | |
| 50 Days | 200 Days | |
| DMA Price | $2.69 | $3.83 |
| DMA Trend | down | down |
| Distance from DMA | -13.1% | -38.9% |
| 3M | 1YR | |
| Volatility | 38.1% | 35.2% |
| Downside Capture | 98.42 | 23.99 |
| Upside Capture | -124.83 | -42.77 |
| Correlation (SPY) | -7.4% | -4.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.71 | -0.31 | -0.01 | -0.23 | -0.10 | 0.13 |
| Up Beta | -0.53 | -1.59 | -0.37 | -0.35 | -0.18 | -0.19 |
| Down Beta | -0.26 | 0.30 | 0.49 | 0.16 | -0.09 | 0.12 |
| Up Capture | -175% | -122% | -57% | -57% | -20% | 6% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 7 | 14 | 23 | 45 | 101 | 321 |
| Down Capture | -8% | 107% | 107% | 31% | 30% | 72% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 14 | 25 | 35 | 67 | 130 | 362 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FKWL | |
|---|---|---|---|---|
| FKWL | -40.4% | 35.2% | -1.42 | - |
| Sector ETF (XLK) | 35.9% | 24.8% | 1.19 | -7.2% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | -3.8% |
| Gold (GLD) | 19.2% | 28.1% | 0.61 | 5.7% |
| Commodities (DBC) | 34.7% | 19.1% | 1.42 | -4.5% |
| Real Estate (VNQ) | 13.8% | 14.1% | 0.69 | 6.5% |
| Bitcoin (BTCUSD) | -46.2% | 42.9% | -1.32 | -3.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FKWL | |
|---|---|---|---|---|
| FKWL | -18.6% | 45.3% | -0.31 | - |
| Sector ETF (XLK) | 19.4% | 25.6% | 0.68 | 9.9% |
| Equity (SPY) | 12.8% | 17.1% | 0.58 | 11.0% |
| Gold (GLD) | 17.0% | 18.4% | 0.75 | 4.8% |
| Commodities (DBC) | 9.6% | 19.5% | 0.38 | 0.6% |
| Real Estate (VNQ) | 3.0% | 18.9% | 0.06 | 10.7% |
| Bitcoin (BTCUSD) | 15.3% | 53.4% | 0.47 | 4.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FKWL | |
|---|---|---|---|---|
| FKWL | -12.3% | 49.7% | -0.29 | - |
| Sector ETF (XLK) | 24.1% | 24.8% | 0.88 | 7.3% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 7.6% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | 6.8% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | -1.0% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 8.2% |
| Bitcoin (BTCUSD) | 58.1% | 66.2% | 0.98 | 3.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-Q |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 09/29/2025 | 10-K |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-Q |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 09/30/2024 | 10-K |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 09/28/2023 | 10-K |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/13/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 02/17/2026 | 10-Q |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 09/29/2025 | 10-K |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 02/14/2025 | 10-Q |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 09/30/2024 | 10-K |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 09/28/2023 | 10-K |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/13/2022 | 10-K |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/09/2022 | 10-Q |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 09/28/2021 | 10-K |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 02/16/2021 | 10-Q |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 09/17/2020 | 10-K |
| 03/31/2020 | 05/15/2020 | 10-Q |
| 12/31/2019 | 02/13/2020 | 10-Q |
| 09/30/2019 | 11/14/2019 | 10-Q |
| 06/30/2019 | 09/30/2019 | 10-K |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kim, Oc | President | Direct | Sell | 5152025 | 3.73 | 200,000 | 746,000 | 4,090,672 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kim, Oc | President | Direct | Sell | 5152025 | 3.73 | 200,000 | 746,000 | 4,090,672 | Form |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Communications Equipment Resources |
| Light Reading |
| Fierce Network |
| Telecoms.com |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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