Upexi, Inc
ir.upexi.comWhat Do They Do?
Holds and stakes Solana tokens to earn rewards, and sells branded consumer products to wholesale buyers and consumers.
10-K for FY2026, filed Sep 17, 2026
How Do They Make Money?
Consumers and distributors buy branded products directly or wholesale, with payment generally due when goods ship or are delivered. The company also earns token rewards by delegating Solana to validators, with rewards distributed at regular intervals.
10-K for FY2026, filed Sep 17, 2026Revenue Recognition - In accordance with ASC 606, Revenue from Contracts with Customers, the Company recognizes revenue when we satisfy…View ↗
The Company recognizes revenue from sales of our products, including sales to our distributors, at a point in time, generally upon shipment…View ↗
Staking rewards on Solana are distributed at regular intervals. At the end of each epoch, with one epoch being roughly two days, the reward…View ↗
We earn staking rewards by delegating our digital assets to third-party validators on proof-of-stake blockchain networks. These tokens…View ↗
$25M
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10-K for FY2026, filed Sep 17, 2026
$25M ↗
Who Are Their Customers?
Consumers buy mainly through the company's e-commerce site, while wholesale customers buy its branded products; a third party handles distribution and fulfillment.
10-K for FY2026, filed Sep 17, 2026
Do Revenues Turn Into Profits?
No. It lost $246.1M in FY2026.
10-K for FY2026, filed Sep 17, 2026
−$240.8MView ↗
10-K for FY2026, filed Sep 17, 2026
−$246.1MView ↗
10-K for FY2026, filed Sep 17, 2026
−$21MView ↗
How Are They Changing?
Growing. Revenue grew 8% in 4 years, from $23.1M in FY2022 to $25M in FY2026, about 2% a year.
From product distribution to a Solana treasury
The earlier report described a product-distribution business focused on owned and selected outside brands. The latest report adds a Solana-focused treasury and staking strategy while continuing to own consumer brands.
10-K for FY2023, filed Oct 3, 2023 10-K for FY2026, filed Sep 17, 2026
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