Franklin Wireless Announces Executive Leadership Changes
Management Changes at Franklin Wireless: Bill Bauer will resign as acting CFO effective January 1, 2025, while continuing in his roles as General Counsel and Director of Strategic Planning; Reid Granados has been appointed as Interim CFO.
Company Performance Overview: Franklin Wireless currently has a market cap of $58.1M, with a year-to-date price performance of 0.0% and a technical sentiment consensus rating of "Sell."
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FKWL Stock Drops 12.4% Despite Increased Q1 Profits and Decreased Sales
Stock Performance: Franklin Wireless Corp. shares have dropped 12.4% since their Q1 fiscal 2026 earnings report, underperforming the S&P 500, which fell 1.7% during the same period. The stock has also declined 11.3% over the past month.
Financial Highlights: The company reported quarterly revenues of $12.7 million, a 4.3% decrease from the previous year, while net income rose to $640,478, resulting in an EPS of 5 cents. Gross profit increased significantly by 40.5% year-over-year to $2.9 million.
Operational Insights: Franklin Wireless experienced a decline in demand for mobile device management services, attributed to post-pandemic shifts in user behavior. The company is focusing on enhancing its software offerings and managing customer relationships to adapt to changing market conditions.
Cash Flow and Inventory Management: The company faced a cash flow shift, using $1.49 million in operations compared to a positive $2.67 million in the prior year, primarily due to increased accounts receivable. Effective inventory management contributed positively to the quarter's operating performance despite rising shipping costs.
Franklin Wireless Launches Shipment of Its First 5G Fixed Wireless Router Designed for Reliable Connectivity in Communities and Networks
Product Announcement: Franklin Wireless Corp has launched the JEXtream CG890, a next-generation 5G Fixed Wireless Access router aimed at providing reliable, high-speed connectivity for service providers and community organizations.
Key Features: The CG890 includes features such as Auto Failover for uninterrupted service, CBRS compatibility for flexible deployment, dual 1Gb Ethernet ports, and remote management tools for efficient network administration.
Target Audience: This router is designed for cost-conscious consumers, small businesses, nonprofits, and ISPs looking for robust network solutions to enhance digital equity and maintain service continuity.
Availability: The JEXtream CG890 is currently available through select distribution partners, with plans for broader availability later this quarter.
