-49%

est. 2Y upside i

HardwareSeries A

Founded in San Francisco in 2020, Framework's mission is to remake Consumer Electronics to respect people and the planet. They've started with two award-winning products: the Framework Laptop 13 and 16. Their laptops are thin, light, high-performance notebooks that can be upgraded, customized, and repaired in ways that no other notebook can.

Rank

#3252

Sector

Computer Hardware

Est. Liquidity

~5Y

Data Quality

Data: Low

Framework offers a compelling product vision but the financial data is too sparse to show positive expected equity upside over 2 years.

Last updated: July 19, 2026

Bull (15%)+79%

Framework achieves category leadership and IPO buzz, expanding multiple to 5x forward revenue ($158.6M exit). After 20% dilution, employee upside ~79%.

Base (40%)-41%

Multiple converges to ~2x in line with incumbent hardware comps ($63.4M exit). After dilution, employee equity declines ~41%.

Bear (45%)-100%

Multiple compresses to 1x and exit value ($31.7M) falls below total funding ($44M). Preference stack wipes out common stock entirely.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

5500%

Total funding ($44M) represents 55% of estimated entry valuation ($80M), creating a high preference overhang that could wipe out common in a bear case.

Dilution Risk

high

With limited runway (last round 26 months ago), a down round or significant raise is likely, adding 15-25% dilution to all scenarios.

Secondary Liquidity

none

No secondary market activity detected; employee shares have no near-term liquidity path.

View all 1 open roles at Framework →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Framework's data — designed to show you've done your homework.

  • 1

    “How does Framework plan to achieve scale given the capital intensity of hardware and incumbent advantages in supply chain?”

  • 2

    “What is the unit economics (e.g., gross margin, customer acquisition cost) and how does the repairability model affect customer lifetime value?”

  • 3

    “What is the expected timeline for an exit event, and what liquidity options exist for employees before that?”

Community

Valuation Sentiment

Our model estimates -49% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.