Franklin Wireless Corp (NASDAQ: FKWL), doing business as Franklin Access, is a wireless broadband data access company that designs and sells mobile hotspot router products and accompanying software services. Revenue is transactional and product-driven: 99.2% of net sales for the year ended June 30, 2025 came from products transferred to customers at a single point in time, with the remainder from time-based service recognition tied to project completion. The company operates in a competitive wireless broadband hardware market where it describes many competitors as holding materially greater financial, technical, and marketing resources. Gross profit was $7,915,069 for the year ended June 30, 2025, representing a 17.2% gross margin, up from 11.4% for the year ended June 30, 2024. Net sales for the year ended June 30, 2025 totaled approximately $46.0 million, implied by gross profit and margin figures. The company does not pay recurring dividends. Shares trade on the Nasdaq National Market System under the ticker FKWL.

Revenue model

Primarily transactional product sales: hotspot router hardware accounted for the majority of net sales, with 99.2% of revenue recognized at point-in-time delivery for the year ended June 30, 2025. A small share, under 1.0% for the year ended June 30, 2025, comes from services recognized over time based on project completion. Mobile device management (MDM) software services represent a declining revenue component.

Products and services

Mobile hotspot router hardware (core product), mobile device management (MDM) software services (declining segment per FY2025 10-K filing), and wireless broadband software services.

Customers and end markets

End markets include remote education and work-from-home users, though demand in both segments was described as declining in the post-pandemic economy as of the FY2025 filing. No specific customer concentration percentages or named customers are disclosed in the excerpts.

Value-chain role

Hardware product designer and seller in the wireless broadband data access supply chain. The company develops hotspot router products and software, then transfers title to customers at the point of shipping. Research and development expenses were $4,102,660 for the year ended June 30, 2025, up from $3,406,750 for the year ended June 30, 2024.

Geographic exposure

Operational presence includes headquarters in San Diego, California and a corporate housing facility in Seoul, Korea used for traveling employees, per the FY2025 10-K filing. No revenue breakdown by geography is provided in the excerpts.

Source: SEC 10-K, filed 2025-09-29

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