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olivLaw · US equity research

Franklin Wireless Corp. FKWL

Telephone & Telegraph Apparatus · SIC 3661 · Vertical: Telephone & Telegraph Apparatus (SIC 3661)

2.23USD+5.19% · 1 dayClose 05 Nov 2026

Franklin Wireless designs and sells 5G and 4G LTE wireless products, including mobile hotspots and fixed wireless routers, mainly to wireless operators in North America and Asia. Net sales fell to 36.5 mn USD in fiscal 2026 from 46.1 mn USD a year earlier, and the company is shifting its focus toward fixed wireless routers and telecommunications modules.

At the close of 05 Nov 2026, Franklin Wireless Corp. (FKWL) stock was 2.23 USD (+5.19% on the day), with market capitalisation 26.3 m USD, dividend yield 1.79%, beta 0.12, 52-week range 2.12–5.18 USD. Latest reported quarter (Q4 2026): revenue of 8.4 m USD (+21.2% YoY), net income of -4.4 m USD, diluted EPS -0.37 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
26.3 m USD
shares as of 28 Sept 2026
P/E (TTM)
unavailable
Diluted EPS TTM -0.40 · TTM to 30 Jun 2026
E/P (TTM)
-17.94%
TTM to 30 Jun 2026
Dividend yield
1.79%
Beta (2y)
0.12
Volatility (1y) 34%
52-week range
2.125.18

Price history

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Technical reading

RSI (14)
49.0
neutral
Bollinger (20, 2)
2.12 – 2.30
in the upper half of the band · %B 0.62 · band width 7.9%
SMA 50 / 200
2.33 / 3.04
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.04 / -0.05
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−3.9%−1.1%−2.8 pp—
3 months−0.9%−0.5%−0.4 pp—
6 months−35.5%+4.4%−39.9 pp—
Year to date−49.0%+12.3%−61.3 pp—
1 year−55.9%+13.5%−69.5 pp−15.0%
3 years−23.9%+76.4%−100.3 pp−21.0%
5 years−57.3%+63.7%−121.0 pp—
Max drawdown (1y)
−59.1%
13 Nov 2025 → 04 Nov 2026
Max drawdown (5y)
−69.5%
18 Feb 2025 → 04 Nov 2026
Compound annual growth (5y)
−15.6%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q4 2026 · 30 Jun 2026

Revenue
8.4 m USD
+21.2% YoY
Net income
-4.4 m USD
unavailable YoY
Diluted EPS
-0.37
unavailable YoY
net / operating
-51.9% / -21.5%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26Q4 '26
Revenue13.3 m17.8 m8.0 m6.9 m12.7 m11.9 m3.4 m8.4 m
Cost of revenue11.3 m14.6 m6.7 m5.7 m9.8 m9.9 m2.9 m7.6 m
Gross profit2.1 m3.2 m1.4 m1.2 m2.9 m2.0 m553.4 k757.9 k
Research & development1.0 m927.2 k794.2 k1.4 m949.8 k776.8 k816.3 k690.9 k
SG&A1.4 m1.5 m2.5 m1.2 m1.4 m1.2 m1.2 m1.9 m
Operating income-372.8 k795.2 k-2.0 m-1.3 m590.4 k48.7 k-1.5 m-1.8 m
Pre-tax income696.5 k84.3 k-635.1 k-331.3 k593.2 k502.9 k-1.8 m-6.4 m
Income tax47.9 k167.7 k2.6 k-263.4 k42.6 k36.3 k-18.7 k-198.9 k
Net income515.2 k228.7 k-644.8 k-342.2 k640.5 k533.6 k-1.6 m-4.4 m
Diluted EPS0.040.02-0.05-0.03 ≈0.050.05-0.13-0.37 ≈
Operating cash flow2.7 m2.7 m ≈-5.9 m ≈2.3 m-1.5 m-4.1 m ≈11.3 k ≈-733.5 k
Capex21.5 k3.2 k ≈899 ≈7.1 k9046.0 k ≈-11 ≈21.9 k
Dividends paid——0 ≈0——0 ≈0

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20192020202120222023202420252026
Revenue36.5 m75.1 m184.1 m24.0 m45.9 m30.8 m46.1 m36.5 m
Revenue YoY+21.3%+105.9%+145.3%−87.0%+91.5%−33.0%+49.6%−20.8%
Net income-1.3 m5.6 m17.7 m-3.8 m-2.9 m-4.0 m-243.1 k-4.7 m
Net income YoYunavailableunavailable+218.9%−121.3%unavailableunavailableunavailableunavailable
Diluted EPS-0.120.521.53-0.32-0.24-0.34-0.02-0.40
Diluted EPS YoYunavailableunavailable+194.2%−120.9%unavailableunavailableunavailableunavailable
net %-3.5%7.4%9.6%-15.7%-6.2%-12.9%-0.5%-13.0%
Free cash flow674.3 k21.8 m12.1 m-7.4 m-1.9 m-828.4 k1.8 m-6.3 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2026 · 30 Jun 2026

Cash
13.4 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
30.5 m USD
Total assets
46.4 m USD
Debt / equity
unavailable
Current ratio
2.67x
ROE
-13.9%
ROA
-9.7%
FCF margin
-17.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2024
30.8 m
2025
46.1 m
2026
36.5 m

SEC (XBRL)· 28 Sept 2026verified

Cost of revenue
2024
27.3 m
2025
38.2 m
2026
30.3 m

SEC (XBRL)· 28 Sept 2026verified

Gross profit
2024
3.5 m
2025
7.9 m
2026
6.3 m

SEC (XBRL)· 28 Sept 2026verified

Research & development
2024
3.4 m
2025
4.1 m
2026
3.2 m

SEC (XBRL)· 28 Sept 2026verified

SG&A
2024
6.0 m
2025
6.7 m
2026
5.7 m

SEC (XBRL)· 28 Sept 2026verified

Operating income
2024
-5.9 m
2025
-2.9 m
2026
-2.7 m

SEC (XBRL)· 28 Sept 2026verified

Depreciation & amortisation
2024
—
2025
33.1 k
2026
36.8 k

SEC (XBRL)· 28 Sept 2026verified

EBITDA
2024
—
2025
-2.8 m ≈
2026
-2.6 m ≈

SEC (XBRL)· 28 Sept 2026derived

Pre-tax income
2024
-5.1 m
2025
-185.6 k
2026
-7.1 m

SEC (XBRL)· 28 Sept 2026verified

Income tax
2024
-949.3 k
2025
-45.2 k
2026
-138.7 k

SEC (XBRL)· 28 Sept 2026verified

Net income
2024
-4.0 m
2025
-243.1 k
2026
-4.7 m

SEC (XBRL)· 28 Sept 2026verified

Diluted EPS
2024
-0.34
2025
-0.02
2026
-0.40

SEC (XBRL)· 28 Sept 2026verified

Weighted average diluted shares
2024
11.8 m
2025
11.8 m
2026
11.8 m

SEC (XBRL)· 28 Sept 2026verified

Balance sheet · USD

Cash
2024
12.3 m
2025
14.7 m
2026
13.4 m

SEC (XBRL)· 28 Sept 2026verified

Receivables
2024
1.2 m
2025
1.3 m
2026
2.3 m

SEC (XBRL)· 28 Sept 2026verified

Inventories
2024
1.4 m
2025
2.4 m
2026
5.3 m

SEC (XBRL)· 28 Sept 2026verified

Current assets
2024
40.2 m
2025
45.2 m
2026
40.5 m

SEC (XBRL)· 28 Sept 2026verified

Property, plant & equipment, net
2024
114.9 k
2025
72.9 k
2026
59.8 k

SEC (XBRL)· 28 Sept 2026verified

Goodwill
2024
273.3 k
2025
273.3 k
2026
273.3 k

SEC (XBRL)· 28 Sept 2026verified

Intangibles (excl. goodwill)
2024
1.3 m
2025
1.0 m
2026
928.4 k

SEC (XBRL)· 28 Sept 2026verified

Total assets
2024
46.7 m
2025
51.3 m
2026
46.4 m

SEC (XBRL)· 28 Sept 2026verified

Accounts payable
2024
7.3 m
2025
8.1 m
2026
6.9 m

SEC (XBRL)· 28 Sept 2026verified

Current liabilities
2024
9.1 m
2025
12.4 m
2026
15.2 m

SEC (XBRL)· 28 Sept 2026verified

Total liabilities
2024
10.3 m
2025
13.4 m
2026
15.9 m

SEC (XBRL)· 28 Sept 2026verified

Equity
2024
36.4 m
2025
37.9 m
2026
30.5 m

SEC (XBRL)· 28 Sept 2026verified

Cash flow · USD

Operating cash flow
2024
-773.4 k
2025
1.8 m
2026
-6.3 m

SEC (XBRL)· 28 Sept 2026verified

Capex
2024
55.0 k
2025
32.8 k
2026
28.9 k

SEC (XBRL)· 28 Sept 2026verified

Free cash flow
2024
-828.4 k ≈
2025
1.8 m ≈
2026
-6.3 m ≈

SEC (XBRL)· 28 Sept 2026derived

Investing cash flow
2024
723.9 k
2025
1.0 m
2026
5.5 m

SEC (XBRL)· 28 Sept 2026verified

Financing cash flow
2024
91.1 k
2025
-408.7 k
2026
-471.4 k

SEC (XBRL)· 28 Sept 2026verified

Dividends paid
2024
—
2025
0
2026
471.4 k

SEC (XBRL)· 28 Sept 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-20.8%
computed by olivLawFY 2026
Revenue CAGR 3Y
-7.4%
computed by olivLawFY 2023 → FY 2026
Revenue CAGR 5Y
-27.6%
computed by olivLawFY 2021 → FY 2026
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
-449.2%
computed by olivLawFY 2026

Profitability

Gross margin
17.1%
computed by olivLawFY 2026
EBITDA margin
-7.2%
computed by olivLawFY 2026
EBIT margin
-7.3%
computed by olivLawFY 2026
Net margin
-13.0%
computed by olivLawFY 2026
FCF margin
-17.3%
computed by olivLawFY 2026

Returns

ROE
-14.9%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROA
-9.7%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-8.6%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
the base of the ratio is not positive

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
2.7x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.9x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-6.3 m USD
computed by olivLawFY 2026
Capital expenditure
28.9 k USD
computed by olivLawFY 2026
Free cash flow
-6.3 m USD
computed by olivLawFY 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
insufficient data

Efficiency

Days sales outstanding
18 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
91 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026

Market and valuation

Market capitalisation
26.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-17.9%
computed by olivLawFY 2026
P/B
0.9x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
0.7x
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-24.1%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Dividend yield
1.8%
computed by olivLawFY 2026
Shareholder yield (distributions)
1.8%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026

4 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

2.23 USD

05 Nov 2026Source: olivLaw, closing series

Market cap: 26.3 m USD

Key indicators

Market capitalisation
26.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
0.9x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-14.9%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Net margin
-13.0%
computed by olivLawFY 2026
Revenue growth (YoY)
-20.8%
computed by olivLawFY 2026
Dividend yield
1.8%
computed by olivLawFY 2026

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 28 Sept 2026
Source: SEC (XBRL)published 28 Sept 2026
verified 2391derived 205

Score by group

77% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)

no valuation method could be computed

Multiple comparisons use the SIC vertical: Telephone & Telegraph Apparatus (SIC 3661)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
Gross margin · Quality17.1%0 (on a fixed band)14%
EBIT margin · Quality-7.3%0 (vs peers)11%
FCF margin · Quality-17.3%0 (on a fixed band)11%
Revenue CAGR 3Y · Growth-7.4%0 (on a fixed band)22%
Revenue growth (YoY) · Growth-20.8%17 (vs peers)11%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Current ratio · Balance sheet2.7x100 (on a fixed band)8%
EV/Sales · Valuationunavailableunavailable—
FCF yield · Valuation-24.1%0 (on a fixed band)17%
Shareholder yield (distributions) · Returns1.8%63 (on a fixed band)6%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial100/100 · 1/2 factors with a value
  • Growth6/100 · 2/2 factors with a value
  • Quality0/100 · 3/3 factors with a value
  • Returns63/100 · 1/1 factors with a value
  • Valuation· partial0/100 · 1/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

FRANKLIN WIRELESS CORP. (FKWL). Latest full fiscal year: 2026; data up to 2026-06-30.

Figures computed from the financial statements: revenue 36.5 m USD in 2026; YoY growth -20.8%; net margin -13.0%; ROE -14.9%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Current ratio: 2.7x

What contradicts it

  • Gross margin: 17.1%
  • EBIT margin: -7.3%
  • FCF margin: -17.3%
  • Revenue CAGR 3Y: -7.4%
  • Revenue growth (YoY): -20.8%
  • FCF yield: -24.1%

Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.

Versus the vertical median

Telephone & Telegraph Apparatus (SIC 3661) · same industry (4-digit SIC) · compared with 7 companies

Multiples and returns vs the median

P/E
—
vertical median 24.7x
EV/EBITDA
—
vertical median —
P/S
0.7x
vertical median 1.4x
below median (−50.0%)
P/B
0.9x
vertical median 2.6x
below median (−65.5%)
ROE
-14.9%
vertical median 1.1%
below median (−1,512.8%)
Net margin
-13.0%
vertical median 0.7%
below median (−2,018.3%)
EBIT margin
-7.3%
vertical median 2.8%
below median (−364.7%)
Revenue YoY
-20.8%
vertical median 18.1%
below median (−214.6%)
Net debt/EBITDA
—
vertical median —
Dividend yield
1.8%
vertical median 4.4%
below median (−59.3%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
CIENCiena Corp38.6 bn60.722.4%10.9%+18.8%+33% / +494%
FNFabrinet10.5 bn22.121.0%9.4%+35.7%−36% / +81%
CLFDClearfield, Inc.390.1 m—-2.8%-4.7%+19.6%−2% / +13%
ADTNADTRAN Holdings, Inc.336.5 m—-17.4%-2.3%+17.5%−48% / −21%
AUDCAudiocodes Ltd.207.2 m24.74.9%3.6%+1.4%−15% / −32%
FKWLFranklin Wireless Corp.26.3 m—-14.9%-13.0%−20.8%−56% / −24%
CLROClearone Inc12.1 m—-275.7%—unavailable−14% / −63%
SONMDNA X, Inc.3.4 m——-14.5%−37.7%−60% / −98%

1- and 3-year price returns: for FKWL from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Franklin Wireless designs and sells 5G and 4G LTE wireless products, including mobile hotspots and fixed wireless routers, mainly to wireless operators in North America and Asia. Net sales fell to 36.5 mn USD in fiscal 2026 from 46.1 mn USD a year earlier, and the company is shifting its focus toward fixed wireless routers and telecommunications modules.

    SWOT

    Strengths

    • The company has experience in 5G and 4G LTE wireless solutions, a research and development arm in South Korea, and relationships with operators in North America and Asia.
    • Certifications for the US market and international standards are an advantage when entering new markets.
    • The JEXtream cloud platform enables remote management of device functions and can support the service offering.

    Weaknesses

    • Revenue depends heavily on a few large customers, and losing one of them could significantly affect results.
    • The company reported a net loss in fiscal 2026 and relies heavily on one external manufacturer.
    • Long delivery lead times and limited internal financing could restrict flexibility in product development.

    Opportunities

    • If fixed routers and M2M modules grow, the company could diversify its revenue sources and reduce dependence on hotspots.
    • Connectivity for industrial applications and remote monitoring could offer new opportunities for M2M gateways.
    • If AI-compatible hardware is commercially implemented, it could become a competitive advantage.

    Threats

    • Larger competitors with greater resources could intensify price pressure and pressure on orders.
    • Restrictions on foreign-manufactured equipment could affect the approval and sale of future products.
    • Supply chain disruption and rising component costs could affect delivery schedules and margins.

    Risks

    • Dependence on large customershigh

      A small number of customers generate most sales, and a reduction in purchases from one of them could affect revenue and profitability.

    • Net losses and financing needshigh

      Recent losses could require the company to raise additional funding, which could dilute existing shareholders.

    • Decline in legacy product demandmedium

      Lower demand for older hotspots and MDM services could continue if new products do not compensate.

    • Intellectual property claimsmedium

      Infringement claims could lead to legal costs, licensing requirements and restrictions on sales.

    • Product defects and battery hazardsmedium

      Design or manufacturing defects could lead to recalls, liability claims and warranty expenses.

    Investment thesis

    What would need to be true (bull case)

    • If the shift toward fixed routers and telecommunications modules succeeds, the company could reduce its dependence on declining products and access segments with steadier demand.
    • Experience with 5G and 4G LTE technologies, together with the research arm in South Korea, could support faster launches of new products.
    • Restrictions on foreign equipment could benefit suppliers that already have approved products, such as the hotspots the company says remain unaffected.

    What would break the thesis

    • If new products are delayed or fail to offset the hotspot decline, revenue could stay below earlier levels.
    • Customer concentration and difficulties with an intermediary could reduce orders and affect operator confidence.
    • Cost and supply chain pressures could compress margins, especially if larger competitors keep their pricing advantage.

    What to watch

    • Sales trajectory of fixed wireless routers and telecommunications modulesQ1 2027
    • Renewal or replacement of orders from the principal customers2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    The company, which does business as Franklin Access, offers integrated wireless solutions including mobile hotspots, fixed wireless routers and mobile device management (MDM) solutions. Products are sold mainly directly to wireless operators and, to a lesser degree, through strategic partners and distributors. Its primary markets are North America and Asia. It holds 66.3% of Franklin Technology Inc. in Seoul, which provides design and development services, and 60% of Sigbeat Inc. in San Diego, which will handle sales and operations for telecommunications modules.

    Beginning in the six months ended June 30, 2026, Franklin started a strategic shift to reduce its reliance on mobile hotspots and increase its focus on fixed wireless routers and telecommunications modules, after a significant decline in demand for certain legacy hotspot products. The company intends to integrate AI-compatible hardware but has not commercially implemented AI technology in its current products.

    The parent, Franklin Wireless Corp., is headquartered in San Diego and was reincorporated in Nevada in 2007. Its consolidated subsidiaries are Franklin Technology Inc. and Sigbeat Inc., which was formed in 2024 as a joint venture with an electronic manufacturing services partner. The majority of products are manufactured by a single independent company located in Asia.

    Segments

    Mobile hotspots 5G/4G

    Portable Wi-Fi routers that provide internet access to laptops, tablets and smartphones. This line was the most affected in fiscal 2026, after a major customer discontinued a hotspot product the company had expected to generate significant revenue.

    Fixed wireless routers and M2M modules

    4G and 5G routers that can replace cable or DSL service, along with gateways for machine-to-machine communication in industrial and remote monitoring applications. This is the strategic direction the company is pursuing, though these products are in earlier stages of commercialization.

    Market context

    The company operates in the wireless broadband access market, which is highly competitive, and demand depends on wireless network operators. Demand for remote work and remote education has declined after the pandemic, reducing demand for certain products. Its primary markets remain North America and Asia.

    Supply chains are affected by cost increases and availability of certain components, including memory and printed circuit board materials. Recent restrictions on foreign-manufactured telecommunications equipment could influence the approval and commercialization of future products, although the company believes its approved mobile hotspots are not materially affected.

    Trends

    • Declining demand for hotspotsheadwind

      Demand for older hotspot products has fallen considerably, and one major customer discontinued a product. A shift toward fixed routers could offset this if the new products gain traction, but they are at an early stage.

    • Move to fixed wireless routerstailwind

      Fixed routers that replace DSL and cable connections could open a new market if the company's reorientation succeeds.

    • Decline in MDM demandheadwind

      Demand for MDM services is falling as remote work and remote education trends recede, and the company is working to improve its software offerings.

    • Supply chain pressure and regulationmixed

      Component costs and restrictions on foreign equipment could complicate production and approvals, but they may also affect competitors.

    Competitive position

    The wireless broadband access market is highly competitive, and many competitors have significantly greater financial, technical and marketing resources. Competitive pressure could lead to price reductions and smaller orders, and longer delivery times could push customers toward faster suppliers.

    The company must keep investing in research and development, sales and customer support to stay competitive, and its ability to enter the market early with new products is central to its strategy.

    • Global wireless equipment makers

      Larger companies named in the filing have greater financial, technical and marketing resources, which gives them an advantage in competing for operators.

    • Hotspot and 5G router suppliers

      Direct competitors in the hotspot and fixed router segments that may offer faster delivery to customers.

    • M2M and IoT module makers

      Firms competing in the telecommunications module market, the segment the company is developing through Sigbeat.

    • Asian electronics manufacturers

      Regional suppliers and manufacturers that can compete on price and influence the supply chain.

    News & filings

    In the press

    No news in our archive over the last 180 days.

    SEC filings

    Sources

    1. [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Franklin Wireless Corp. · 28 Sept 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.