Bonk (SHOT) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was $3.93M, up from $0.70M in 2024, driven by the Yerbaé acquisition and digital asset income.

• Net loss widened to $68.2M in 2025 from $49.4M in 2024, reflecting higher operating expenses and digital asset impairment.

• The company shifted strategic focus from beverage sales to digital assets, particularly BONK tokens, and decentralized finance initiatives.

• Yerbaé Brands was acquired in June 2025, expanding the beverage portfolio and distribution channels.

• A 1-for-35 reverse stock split was executed in December 2025, and the company changed its name to Bonk, Inc.

Financial highlights

• 2025 revenue: $3.93M (2024: $0.70M); gross profit: $1.24M (2024: $1.24M).

• Operating expenses: $40.7M in 2025 (2024: $39.6M), including $14.3M in stock-based compensation and $4.95M in intangible asset impairment.

• Net loss: $68.2M in 2025 (2024: $49.4M); loss per share: $(17.02) (2024: $(31.77)).

• Cash at year-end: $2.28M (2024: $0.35M); working capital: $64,954.

• Significant unrealized loss on digital assets: $35.4M in 2025.

Outlook and guidance

• The company plans to continue expanding in digital assets and decentralized finance, leveraging the BONK ecosystem.

• Ongoing focus on beverage sales through Sure Shot and Yerbaé, but digital asset activities are expected to drive future growth.

• Management acknowledges substantial doubt about the ability to continue as a going concern without additional capital.