-70%

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

#2856

Sector

Computer Hardware

Est. Liquidity

~4Y

Data Quality

Data: Medium

Framework operates in a growing niche of modular, repairable PCs with a strong brand and mission.

Last updated: March 10, 2026

Bull (15%)+300%

Framework successfully expands its product lines, including gaming and desktops, and captures significant market share in the repairable electronics segment, driven by strong brand loyalty and right-to-repair tailwinds. Revenue grows rapidly to $200M+ by 2028, justifying an $800M+ valuation (4x the assumed current $200M valuation) as a leader in sustainable computing.

Base (40%)+50%

Framework maintains its niche in modular laptops, achieving steady but not explosive growth. It continues to innovate with new components and minor product iterations, but faces increasing competitive pressure from traditional OEMs like Lenovo entering the modular space. Revenue reaches $100M by 2028, leading to a $300M valuation (1.5x the assumed current $200M valuation).

Bear (45%)-80%

Intense competition from incumbents like Lenovo launching competing modular products, coupled with persistent supply chain issues and rising component costs, severely impacts Framework's margins and growth. The company struggles to scale, leading to a down round or acquisition at a significantly lower valuation, potentially $40M, wiping out most common stock value due to $45M in liquidation preferences.

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Based on an assumed $200M valuation, investors hold $45M in liquidation preferences. If the company exits at $200M, $45M goes to preferred shareholders first, leaving $155M for common. If the exit is $45M or less, common shareholders receive nothing.

Dilution Risk

high

As a Series A company, Framework will likely need to raise additional funding rounds, which will dilute existing equity holders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Framework's equity.

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

    “Given Lenovo's recent modular Thinkbook concept, how is Framework planning to differentiate and compete against a dominant incumbent moving into your core value proposition?”

  • 2

    “With the ongoing volatility in the silicon market and rising DRAM prices, what strategies are in place to mitigate these supply chain and pricing risks, especially as you expand into new product categories like desktops and potentially gaming devices?”

  • 3

    “As a Series A company with $45M in total funding, how does Framework envision its path to a liquidity event for employees, and what are the company's plans for future funding rounds and managing potential dilution?”

Community

Valuation Sentiment

Our model estimates -70% 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.