FRANKLIN WIRELESS CORP

Listed Company

FKWLCIK 0000722572NasdaqNon-AcceleratedSmaller ReportingTelephone & Telegraph ApparatusNevadaFY ends Jun 30

Period

FY 2025

Revenue

$46.09M

Net Income

$-243.1K

Total Assets

$51.33M

Equity

$34.54M

Shares Out

11.78M

Op. Cash Flow

$1.84M

Business

FRANKLIN WIRELESS CORP provides integrated wireless solutions leveraging 5G and 4G LTE technologies for consumer and enterprise connectivity. The company offers mobile hotspots, fixed wireless routers, mobile device management (MDM) and network management (NMS) platforms, IoT/M2M gateways, on-device AI features, and family- and senior-care solutions. Its operations include design and development through majority-owned Franklin Technology Inc. (FTI), sales and operations via majority-owned Sigbeat, and a single reportable segment focused on wireless access products. Products are sold primarily to wireless operators and through strategic partners and distributors in North America and Asia.

Summary from filing dated 2025-09-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	46	31	46	24	184
Cost of goods sold	−38	−27	−39	20	152
Gross profit	8	4	7	4	32
Selling, general and administrative	7	6	5	5	5
Research and development	4	3	4	4	5
Total operating expenses	11	9	9	9	10
Loss from operations	−3	−6	−2	−5	23
Interest income	695,127	804,148	459,869	71,375	8,789
Income from governmental subsidy	0	16,350	—	—	—
Gain from the forgiveness of accounts payable and accrued liabilities	247,592	0	—	0	487,300
Gain (loss) from the disposal of property and equipment and intangible assets	3,563	−10,436	0	—	—
Litigation settlement income	1	0	—	—	—
Gain (loss) from foreign currency transactions	196,635	−486,497	−126,042	—	—
Other income, net	535,156	500,219	—	—	—
Total other income (expense), net	3	823,784	−1	265,419	617,167
Loss before benefit for income taxes	−185,596	−5	−4	−5	23
Income tax benefit	−45,167	−949,300	−886,659	−1	5
Net loss	−140,429	−4	−3	−4	18
Less: non-controlling interests in net income (loss) of subsidiary at 33.7%	79,070	−202,655	−81,638	90,443	697,147
Less: non-controlling interests in net income (loss) of subsidiary at 40.0%	23,602	0	—	—	—
Net loss attributable to Parent Company	−243,101	−4	−3	−4	18
Loss per share attributable to Parent Company stockholders - basic	−0.02	−0.34	−0.24	−0.32	1.56
Loss per share attributable to Parent Company stockholders - diluted	−0.02	−0.34	−0.24	−0.32	1.53
Weighted average common shares outstanding - basic	12	12	12	12	11
Weighted average common shares outstanding - diluted	12	12	12	12	12
Translation adjustments	54,208	−167,263	−87,778	−511,650	—
Comprehensive loss	−86,221	−4	−3	−4	19
Less: comprehensive income (loss) attributable to non-controlling interest	102,672	−202,655	−81,638	90,443	—
Less: Foreign exchange translation attributable to non-controlling interest	18,245	−56,368	—	—	—
Comprehensive loss attributable to controlling interest	−207,138	−4	−3	−4	18

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	15	12	12	—	—
Short-term investments	26	25	27	16	5
Accounts receivable, net	1	1	9	1	3
Other receivable due from officer	662,596	0	—	—	—
Inventories, net	2	1	4	4	975,519
Other current assets	143,666	107,976	51,125	—	—
Advance payments to vendors	56,988	73,912	53,875	—	—
Total current assets	45	40	52	48	55
Property and equipment, net	72,882	114,939	101,088	105,952	151,610
Intangible assets, net	1	1	2	1	1
Deferred tax assets, non-current	3	3	2	1	387,548
Goodwill	273,285	273,285	273,285	273,285	273,285
Right of use assets, net	1	1	152,665	448,621	753,263
Other assets	133,545	131,245	126,546	126,095	140,539
TOTAL ASSETS	51	47	57	52	58
Accounts payable	8	7	13	8	10
Contract liabilities and advance from customers	125,300	158,771	146,488	—	—
Accrued liabilities, bonus payable to an officer	3	875,000	—	—	—
Accrued liabilities, others	1	550,146	—	—	—
Lease liabilities, current	375,343	239,727	159,104	308,834	317,519
Total current liabilities	12	9	17	9	11
Lease liabilities, non-current	1	1	0	159,104	467,937
Total liabilities	13	10	17	9	12
Commitments and contingencies (Note 6)	—	—	—	—	—
Preferred stock, par value $0.001 per share, authorized 10,000,000 shares; none issued and outstanding	0	0	0	0	0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 11,784,280 shares issued and outstanding	14,263	14,263	14,263	14,163	14,069
Additional paid-in capital	14	15	14	14	13
Retained earnings	25	25	29	32	36
Treasury stock, 2,549,208 shares	−4	−4	−4	−4	—
Accumulated other comprehensive loss	−1	−1	−1	−984,152	−472,502
Total Parent Company stockholders equity	35	35	39	41	45
Non-controlling interests	3	1	1	2	1
Total stockholders equity	38	36	40	43	46
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	51	47	57	52	58

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation	33,125	33,958	51,970	87,743	90,322
Amortization of intangible assets	827,091	993,214	839,595	579,012	435,571
(Gain) loss from foreign currency transactions	−233,720	572,426	—	—	—
Stock based compensation	350,593	295,104	710,870	545,841	—
Bad debt expense	158,400	0	0	23,780	338,185
Reserve for allowance slow moving inventories	63,846	16,934	—	—	—
(Gain) from trading vehicle and loss from the disposal of property and equipment and intangible assets	−3,563	10,417	0	—	—
Recovery of litigation settlement with an officer	−1	0	—	—	—
Net change of right use assets and lease liabilities	349	5,246	—	—	—
Deferred tax benefit	−79,703	−958,759	−888,079	−959,888	—
Accounts receivable	−311,767	8	−8	1	13
Inventories	−993,069	2	456,226	−3	11
Other current assets	−34,349	−64,311	—	—	—
Advance payments to vendors	18,121	−23,792	120,921	−134,166	−12,792
Other assets	0	−4,699	—	—	—
Accounts payable	855,382	−6	5	−2	−32
Contract liabilities and advance from customers	−33,471	8,248	−85,136	—	—
Accrued legal contingency expense	0	−2	2	0	—
Accrued liabilities	3	581,972	399,552	−195,618	319,504
Net cash provided by (used in) operating activities	2	−773,360	−2	−7	12
Contribution to a subsidiary by an EMS partner	2	0	—	—	—
Proceeds (purchases) of short-term investments	−437,774	910,034	−10	—	—
Purchases of property and equipment	−32,765	−55,025	−47,106	−42,085	−21,043
Cash proceeds from sales of a vehicle	10,500	0	—	—	—
Payments for capitalized product development costs and intangible assets	−533,563	−131,151	−2	−658,544	−694,909
Net cash provided by investing activities	1	723,858	−12	−12	−722,520
Repayment received from the employee loan	0	91,057	0	—	—
Payment to repurchase stock option from an officer	−408,663	0	—	—	—
Net cash (used in) provided by financing activities	−408,663	91,057	42,943	75,445	6
Effect of foreign currency translation	32,522	−16,285	−87,778	−511,650	177,924
Net increase in cash and cash equivalents	2	25,270	−14	−20	18
Income taxes	−40,800	−46,000	−800	−200,350	−4
Accrued liabilities offset with other receivable from an officer:	−337,404	0	—	—	—

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