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FKWL

Franklin Wireless Corp.

FKWL

Franklin Wireless Corp. • NASDAQ
$4.45 ▼ -1.77% (-0.08)
Market Cap $52.44 M
52w High $7.45
52w Low $3.67
Dividend Yield 0.04%
P/E -445
Volume 7.27K
Outstanding Shares 11.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $12.745M ▲ $2.319M ▼ $640.478K ▲ 5.025% ▲ $0.05 ▲ $799.723K ▲
Q4-2025 $6.927M ▼ $2.567M ▼ $-342.242K ▲ -4.941% ▲ $-0.029 ▲ $-155.016K ▲
Q3-2025 $8.01M ▼ $3.32M ▲ $-644.786K ▼ -8.05% ▼ $-0.055 ▼ $-443.296K ▼
Q2-2025 $17.827M ▲ $2.438M ▼ $228.74K ▼ 1.283% ▼ $0.019 ▼ $353.974K ▼
Q1-2025 $13.323M $2.444M $515.187K 3.867% $0.044 $812.498K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $38.715M ▼ $53.284M ▲ $14.926M ▲ $35.127M ▲
Q4-2025 $40.628M ▲ $51.33M ▲ $13.436M ▲ $34.544M ▼
Q3-2025 $38.139M ▼ $49.712M ▼ $11.378M ▼ $35.324M ▼
Q2-2025 $42.16M ▲ $54.45M ▲ $17.475M ▲ $35.971M ▲
Q1-2025 $40.678M $51.632M $14.392M $35.835M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $640.478K ▲ $-1.489M ▼ $143.315K ▲ $0 ▲ $-1.361M ▼ $-1.49M ▼
Q4-2025 $-67.934K ▲ $2.335M ▲ $-23.953K ▲ $-408.663K ▼ $1.939M ▲ $2.018M ▲
Q3-2025 $-644.786K ▼ $-5.903M ▼ $-1.601M ▼ $0 $-7.46M ▼ $-5.904M ▼
Q2-2025 $-83.445K ▼ $2.742M ▲ $2.967M ▲ $0 $5.645M ▲ $2.738M ▲
Q1-2025 $648.656K $2.671M $-334.785K $0 $2.352M $2.649M

Revenue by Products

Product Q1-2026
Operating Segments
Operating Segments
 $10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has dropped sharply from earlier levels and has been stuck at a very small scale, showing that the business has not yet rebuilt meaningful sales momentum after its prior peak. Profitability hovers around break-even, with slight operating gains or losses depending on the year, which suggests the company can control costs but lacks consistent top-line strength. The big swing in earnings per share a few years ago has not been repeated, implying that past strong profitability was not yet durable. Overall, the income statement points to a fragile, low-volume business that needs growth in sales to improve earnings quality.

Balance Sheet

Balance Sheet The company runs with no debt, which is a clear financial strength and reduces pressure from interest payments or refinancing. Its total assets and equity base are modest, reflecting a very small-scale operation with limited financial buffers. Cash on hand has come down from earlier levels and now sits at a lean but workable level for a lightweight business model. In short, the balance sheet is simple and clean, but also thin, leaving less room for major missteps or large investments without new funding.

Cash Flow

Cash Flow Cash generation from the core business has been roughly around break-even over the last several years, with one notably weak year and no clear upward trend yet. Because investment spending is extremely light, free cash flow tends to mirror operating cash flow, meaning the company is essentially treading water rather than building a cash surplus. This pattern suggests the business is self-funding at its current size but does not yet produce the kind of steady excess cash needed to comfortably support aggressive growth or weather prolonged downturns. Stability is acceptable for now, but resilience is limited by the small cash cushion and lack of strong cash inflows.

Competitive Edge

Competitive Edge Franklin Wireless operates in a crowded wireless and networking equipment space, going up against much larger and better-known hardware brands. Its main edge comes from focus and specialization: close partnerships with major carriers, customized devices for their needs, and integration with its own management software. This carrier-centric model can be powerful but also risky, because it increases dependence on a small number of key relationships and product certifications. Overall, the company appears to occupy a niche position—nimble and specialized—but with limited bargaining power and high exposure to changes in carrier strategy and technology standards.

Innovation and R&D

Innovation and R&D The company is clearly leaning into innovation, especially around 5G hotspots and routers, IoT-focused devices, and its JEXtream device-management software platform. It is moving beyond pure hardware by layering on software, cloud management, and services, which, if successful, could create more recurring and higher-margin revenue over time. New initiatives such as 5G RedCap devices, industrial M2M routers, consumer home-networking solutions, and an AI chipset joint venture show ambition to stay at the edge of connectivity and embedded intelligence. However, these efforts are still in the development and commercialization phase, so the real test will be whether they achieve meaningful adoption and scale in a very competitive market.

Summary

Franklin Wireless today looks like a very small, niche technology company that has struggled to maintain the higher revenue and profits it briefly enjoyed a few years ago. Its financial position is clean—no debt and lean operations—but also constrained, with limited cash and modest assets that keep risk elevated if growth does not materialize. On the strategic side, the company’s strength lies in its specialization: tight alignment with major carriers, customized 5G and IoT hardware, and a growing software and management platform. The future story hinges on execution—turning its innovation pipeline and partnerships into sustained revenue growth—while carefully managing the downside that comes from its small scale and dependence on a few key relationships.