TONX

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TON Strategy Company

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Key Metrics

Previous Close: $3.63
52-Week Range: $1.75 – $7.14
Market Cap: $196.61M
P/E (TTM): —
EPS (TTM): -9.72
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 0.50
PEG Ratio: —
Return on Equity: -73.85%
Return on Assets: -9.96%
Gross Margin: 84.36%
Operating Margin: 3.19%
Profit Margin: 0.00%
Current Ratio: 6.39
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $5.93M
Revenue Growth: 607.40%
Earnings Growth: —
Enterprise Value: $167.57M

TONX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$8.00K	$63.00K	$895.00K	$12.78M
Cost of Revenue	$3.00K	$19.00K	$224.00K	$3.89M
Gross Profit	$5.00K	$44.00K	$671.00K	$8.88M
Research & Development	$5.19M	—	—	—
Selling, General & Admin	$17.77M	$11.51M	$11.24M	$40.89M
Operating Expenses	$18.88M	$13.84M	$12.31M	$42.20M
Operating Income	-$18.87M	-$13.79M	-$11.64M	-$33.31M
EBITDA	-$13.44M	-$11.32M	-$9.20M	-$147.32M
Pretax Income	-$15.96M	-$14.84M	-$10.51M	-$148.63M
Income Tax	—	—	$0.00	-$234.00K
Net Income	-$37.44M	-$21.99M	-$10.33M	-$148.48M
Diluted EPS	-3106.00	-651.81	-19.36	-5.96
Diluted Shares	12135	33995	592478	25.11M

TONX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$2.43M	$4.35M	$7.62M	$39.49M
Receivables	$1.02M	$0.00	$2.81M	$1.18M
Current Assets	$4.06M	$4.68M	$16.47M	$42.36M
Total Assets	$24.49M	$10.84M	$20.64M	$411.16M
Current Liabilities	$16.53M	$7.19M	$4.29M	$4.59M
Long-Term Debt	$1.22M	$362.00K	$98.00K	—
Total Debt	$8.95M	$2.38M	$464.00K	$209.00K
Total Liabilities	$19.33M	$7.71M	$4.61M	$4.77M
Retained Earnings	-$153.46M	-$175.62M	-$187.09M	-$336.73M
Shareholders' Equity	$5.17M	$3.13M	$16.20M	$406.49M
Working Capital	-$12.47M	-$2.50M	$12.17M	$37.77M
Net Debt	$4.59M	—	—	—

TONX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$19.41M	-$10.60M	-$8.77M	-$20.77M
Capital Expenditure	-$4.75M	-$306.00K	-$428.00K	-$234.00K
Free Cash Flow	-$24.15M	-$10.90M	-$9.19M	-$21.00M
Depreciation & Amortisation	$1.11M	$2.33M	$1.08M	$1.30M
Stock-Based Compensation	$4.46M	$2.50M	$2.08M	$19.14M
Investing Cash Flow	-$4.75M	$4.44M	-$5.38M	-$294.54M
Financing Cash Flow	$25.65M	$8.08M	$18.29M	$346.48M
Share Repurchases	—	—	$0.00	-$26.73M
Net Change in Cash	$1.49M	$1.92M	$4.14M	$31.17M

TONX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$1.30M	$0.00	$3.61M	$5.74M	$5.25M	$15.02M
Cost of Revenue	$596.00K	$0.00	$888.00K	$2.05M	$1.30M	$766.00K
Gross Profit	$709.00K	$0.00	$2.72M	$3.69M	$3.96M	$14.25M
Selling, General & Admin	$3.33M	$1.25M	$24.09M	$9.36M	$7.82M	$13.77M
Operating Expenses	$3.37M	$1.26M	$24.43M	$9.70M	$7.84M	$13.77M
Operating Income	-$2.66M	-$1.26M	-$21.71M	-$6.01M	-$3.88M	$479.00K
EBITDA	-$2.37M	-$1.25M	$100.07M	-$242.36M	-$3.87M	$482.00K
Pretax Income	-$2.44M	-$1.13M	$99.12M	-$242.71M	-$90.95M	$83.53M
Income Tax	$0.00	$1.00K	$14.40M	-$14.38M	$0.00	$2.00K
Net Income	-$2.56M	-$2.38M	$84.34M	-$227.88M	-$91.04M	$76.75M
Diluted EPS	-2.51	-1.79	2.23	—	-1.56	1.31
Diluted Shares	1.02M	1.38M	37.32M	—	58.21M	58.67M

TONX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$6.28M	$4.35M	$53.04M	$39.49M	$34.78M	$28.80M
Receivables	$1.76M	$1.35M	$1.60M	$1.18M	$1.17M	$734.00K
Current Assets	$14.25M	$11.90M	$58.43M	$42.36M	$37.36M	$31.69M
Total Assets	$18.37M	$23.66M	$661.88M	$411.16M	$321.66M	$403.55M
Current Liabilities	$3.64M	$3.57M	$7.81M	$4.59M	$5.04M	$4.96M
Total Debt	$317.00K	$282.00K	$247.00K	$209.00K	$168.00K	—
Total Liabilities	$3.83M	$4.31M	$22.42M	$4.77M	$5.10M	$5.00M
Retained Earnings	-$189.66M	-$192.12M	-$108.85M	-$336.73M	-$427.76M	-$351.01M
Shareholders' Equity	$14.60M	$19.38M	$639.10M	$406.49M	$316.57M	$398.78M
Working Capital	$10.61M	$8.33M	$50.62M	$37.77M	$32.33M	$26.74M

TONX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$1.07M	-$2.29M	-$9.42M	-$7.99M	-$4.69M	-$7.07M
Capital Expenditure	-$66.00K	-$110.00K	-$190.00K	-$36.00K	-$21.00K	—
Free Cash Flow	-$1.14M	-$2.23M	-$9.61M	-$8.03M	-$4.71M	-$7.05M
Depreciation & Amortisation	$286.00K	-$269.00K	$946.00K	$342.00K	$19.00K	-$15.00K
Stock-Based Compensation	$958.00K	-$322.00K	$16.92M	$1.58M	$1.12M	$5.46M
Investing Cash Flow	-$152.00K	-$4.34M	-$290.02M	-$36.00K	-$21.00K	$1.09M
Financing Cash Flow	-$118.00K	$4.70M	$348.13M	-$6.24M	$0.00	$0.00
Share Repurchases	—	—	—	-$6.25M	—	—
Net Change in Cash	-$1.34M	-$1.92M	$48.69M	-$14.26M	-$4.71M	-$5.98M

Market Snapshot

About

TON Strategy Company is a digital asset investment firm focused on the TON blockchain ecosystem. The company provides exposure to TON cryptocurrency and related blockchain infrastructure. It operates as a strategic investor in the decentralized technology space.