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Side-by-side financial comparison of ADTRAN Holdings, Inc. (ADTN) and FRANKLIN WIRELESS CORP (FKWL). Click either name above to swap in a different company.
ADTRAN Holdings, Inc. is the larger business by last-quarter revenue ($291.6M vs $11.9M, roughly 24.4× FRANKLIN WIRELESS CORP). FRANKLIN WIRELESS CORP runs the higher net margin — 4.5% vs -1.2%, a 5.7% gap on every dollar of revenue. On growth, ADTRAN Holdings, Inc. posted the faster year-over-year revenue change (20.1% vs -33.1%). ADTRAN Holdings, Inc. produced more free cash flow last quarter ($30.6M vs $-4.1M). Over the past eight quarters, FRANKLIN WIRELESS CORP's revenue compounded faster (39.0% CAGR vs 13.5%).
Adtran, Inc. is an American fiber networking and telecommunications company headquartered in Huntsville, Alabama. It is a vendor of both residential and enterprise networking equipment, along with administrative software for network management and deployment. Its customers include communications service providers, governments, enterprises and utilities.
Viaero Wireless is a regional wireless telecommunications company that provides direct coverage in Nebraska, eastern Colorado, western Kansas, and southeastern Wyoming. Based in Fort Morgan, Colorado, Viaero is often the primary cell tower owner in portions of its coverage area. Through roaming coverage partner relationships, Viaero customers can place and receive calls locally and across the country, internationally, and on cruise ships.
ADTN vs FKWL — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $11.9M |
| Net Profit | $-3.6M | $533.6K |
| Gross Margin | 39.0% | 17.1% |
| Operating Margin | 1.5% | 0.4% |
| Net Margin | -1.2% | 4.5% |
| Revenue YoY | 20.1% | -33.1% |
| Net Profit YoY | 92.2% | 133.3% |
| EPS (diluted) | $-0.02 | $0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $291.6M | $11.9M | ||
| Q3 25 | $279.4M | $12.7M | ||
| Q2 25 | $265.1M | $6.9M | ||
| Q1 25 | $247.7M | $8.0M | ||
| Q4 24 | $242.9M | $17.8M | ||
| Q3 24 | $227.7M | $13.3M | ||
| Q2 24 | $226.0M | $6.1M | ||
| Q1 24 | $226.2M | $6.2M |
| Q4 25 | $-3.6M | $533.6K | ||
| Q3 25 | $-10.3M | $640.5K | ||
| Q2 25 | $-20.5M | $-342.2K | ||
| Q1 25 | $-11.3M | $-644.8K | ||
| Q4 24 | $-46.1M | $228.7K | ||
| Q3 24 | $-33.3M | $515.2K | ||
| Q2 24 | $-49.7M | $-1.8M | ||
| Q1 24 | $-330.8M | $-1.2M |
| Q4 25 | 39.0% | 17.1% | ||
| Q3 25 | 38.3% | 22.8% | ||
| Q2 25 | 37.3% | 18.0% | ||
| Q1 25 | 38.4% | 16.9% | ||
| Q4 24 | 36.9% | 18.2% | ||
| Q3 24 | 36.5% | 15.5% | ||
| Q2 24 | 36.0% | 10.5% | ||
| Q1 24 | 31.1% | 8.4% |
| Q4 25 | 1.5% | 0.4% | ||
| Q3 25 | -1.0% | 4.6% | ||
| Q2 25 | -5.0% | -19.0% | ||
| Q1 25 | -1.6% | -24.6% | ||
| Q4 24 | -6.9% | 4.5% | ||
| Q3 24 | -11.5% | -2.8% | ||
| Q2 24 | -17.0% | -36.7% | ||
| Q1 24 | -153.1% | -25.2% |
| Q4 25 | -1.2% | 4.5% | ||
| Q3 25 | -3.7% | 5.0% | ||
| Q2 25 | -7.7% | -4.9% | ||
| Q1 25 | -4.5% | -8.1% | ||
| Q4 24 | -19.0% | 1.3% | ||
| Q3 24 | -14.6% | 3.9% | ||
| Q2 24 | -22.0% | -28.9% | ||
| Q1 24 | -146.2% | -19.0% |
| Q4 25 | $-0.02 | $0.05 | ||
| Q3 25 | $-0.12 | $0.05 | ||
| Q2 25 | $-0.24 | $-0.03 | ||
| Q1 25 | $-0.14 | $-0.05 | ||
| Q4 24 | $-0.58 | $0.02 | ||
| Q3 24 | $-0.38 | $0.04 | ||
| Q2 24 | $-0.63 | $-0.16 | ||
| Q1 24 | $-4.20 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $95.7M | $24.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $145.8M | $35.1M |
| Total Assets | $1.2B | $53.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.7M | $24.3M | ||
| Q3 25 | $93.7M | $25.3M | ||
| Q2 25 | $106.3M | $25.9M | ||
| Q1 25 | $101.3M | $25.3M | ||
| Q4 24 | $76.0M | $21.9M | ||
| Q3 24 | $88.5M | $40.7M | ||
| Q2 24 | $111.2M | $37.5M | ||
| Q1 24 | $106.8M | $31.7M |
| Q4 25 | $145.8M | $35.1M | ||
| Q3 25 | $141.6M | $35.1M | ||
| Q2 25 | $169.6M | $34.5M | ||
| Q1 25 | $138.9M | $35.3M | ||
| Q4 24 | $127.0M | $36.0M | ||
| Q3 24 | $205.6M | $35.8M | ||
| Q2 24 | $213.6M | $35.1M | ||
| Q1 24 | $260.8M | $36.9M |
| Q4 25 | $1.2B | $53.0M | ||
| Q3 25 | $1.2B | $53.3M | ||
| Q2 25 | $1.2B | $51.3M | ||
| Q1 25 | $1.2B | $49.7M | ||
| Q4 24 | $1.2B | $54.5M | ||
| Q3 24 | $1.3B | $51.6M | ||
| Q2 24 | $1.3B | $46.7M | ||
| Q1 24 | $1.3B | $50.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $42.2M | $-4.1M |
| Free Cash FlowOCF − Capex | $30.6M | $-4.1M |
| FCF MarginFCF / Revenue | 10.5% | -34.3% |
| Capex IntensityCapex / Revenue | 4.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | -7.66× |
| TTM Free Cash FlowTrailing 4 quarters | $98.0M | $-9.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.2M | $-4.1M | ||
| Q3 25 | $12.2M | $-1.5M | ||
| Q2 25 | $32.2M | $2.3M | ||
| Q1 25 | $43.2M | $-5.9M | ||
| Q4 24 | $2.4M | $2.7M | ||
| Q3 24 | $43.3M | $2.7M | ||
| Q2 24 | $19.9M | $6.2M | ||
| Q1 24 | $37.9M | $-779.0K |
| Q4 25 | $30.6M | $-4.1M | ||
| Q3 25 | $4.2M | $-1.5M | ||
| Q2 25 | $27.5M | $2.3M | ||
| Q1 25 | $35.8M | $-5.9M | ||
| Q4 24 | $-895.0K | $2.7M | ||
| Q3 24 | $37.1M | $2.6M | ||
| Q2 24 | $8.4M | $6.2M | ||
| Q1 24 | $24.4M | $-816.0K |
| Q4 25 | 10.5% | -34.3% | ||
| Q3 25 | 1.5% | -11.7% | ||
| Q2 25 | 10.4% | 33.6% | ||
| Q1 25 | 14.4% | -73.7% | ||
| Q4 24 | -0.4% | 15.4% | ||
| Q3 24 | 16.3% | 19.9% | ||
| Q2 24 | 3.7% | 101.3% | ||
| Q1 24 | 10.8% | -13.2% |
| Q4 25 | 4.0% | 0.1% | ||
| Q3 25 | 2.9% | 0.0% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 3.0% | 0.0% | ||
| Q4 24 | 1.4% | 0.0% | ||
| Q3 24 | 2.7% | 0.2% | ||
| Q2 24 | 5.1% | 0.0% | ||
| Q1 24 | 6.0% | 0.6% |
| Q4 25 | — | -7.66× | ||
| Q3 25 | — | -2.32× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 11.99× | ||
| Q3 24 | — | 5.18× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
FKWL
Segment breakdown not available.
