Bonk, Inc.

What they do

Bonk, Inc. (NASDAQ: BNKK), formerly Safety Shot and Jupiter Wellness, historically sold the Sure Shot dietary supplement and Yerba energy drinks. In 2025, it began transitioning away from beverages toward digital asset and DeFi initiatives. The company holds BONK tokens, booked as indefinite-lived intangible assets, and is developing blockchain-based projects. It discontinued most legacy product lines, with Caring Brands taking over those operations.

Revenue drivers

• Sure Shot Dietary Supplement — Over-the-counter drink claiming to reduce blood alcohol content; sold via website, Amazon, and big box stores in 12oz, 4oz, and stick pack SKUs.
• Yerba energy beverages — Plant-based energy drinks acquired in June 2025; distributed through retail and e-commerce channels.
• BONK token holdings — Not a revenue driver but held as intangible assets; fair value remeasured each period with decreases recognized in earnings.

Recent performance

Annual revenue fluctuated: $70,967 in 2024 and $2.1M in 2025. Net losses widened from $49.4M in 2024 to $68.2M in 2025. Operating cash flow was negative $25.3M in 2025. Quarterly revenue in fiscal 2026 varied: $44,948 (Jun 2025), $1.5M (Sep 2025), $515,443 (Dec 2025), $786,331 (Mar 2026). Diluted EPS improved from -$31.77 in 2024 to -$17.02 in 2025.

Strategy

Management is repositioning the company toward the BONK ecosystem and blockchain-based initiatives, moving away from beverage sales. This includes holding BONK tokens and developing projects in digital asset and decentralized finance sectors. The company continues to sell Sure Shot and Yerba products but emphasizes digital asset opportunities. It also plans new flavors and stick pack formats for Sure Shot.

Risks

• BONK token price volatility — Fluctuations in BONK token price directly impact financial results and could adversely affect the market price of the company's securities.
• Regulatory and reputational risks in digital assets — Negative media, enforcement actions, or bankruptcy events in the digital asset industry could hurt confidence in BONK and the company.
• Transition risk from beverages — Strategic pivot away from beverages could alienate existing customers and fail to generate sufficient new revenue.
• Continued operating losses — The company has posted net losses and negative operating cash flow for years, with no clear path to profitability.

Outlook

Management expects to continue its shift into digital assets and the BONK ecosystem, while maintaining some beverage operations. It plans to launch new flavors and stick pack formats for Sure Shot. The company will keep assessing BONK token fair value and its impact on earnings. No specific financial guidance was provided.