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Financials · TONX

TON Strategy Company (TONX) financials

For the twelve months ended Jun 30, 2026, TON Strategy Company reported $29.62M of revenue and -$157.83M of net income.

Revenue, TTM
$29.62M
Revenue growth, YoY
+592.3%
Net income, TTM
-$157.83M
Net margin
-532.8%
Free cash flow, TTM
-$31.38M
Cash
$28.80M
P/S
5.99
Market cap
$177.3M
Annual revenue$12.78M
FY2017FY2025
Annual net income-$148.48M
FY2016FY2025
Annual free cash flow-$20.86M
FY2016FY2025

TONX revenue and earnings growth

TONX revenueQ2 2026$15.02M

Quarter YoY
+607.4%
QoQ
+185.9%
FY YoY
14x
5Y CAGR
+5.1%

TONX revenue was $15.02M in fiscal Q2 2026 (ended Jun 30, 2026), up 607.4% from a year earlier and up 185.9% from the prior quarter. For the full fiscal 2025 it was $12.78M, up about 14-fold from fiscal 2024. Compound annual growth was +5.1% over 5 years. It rose in 7 of the last 8 fiscal years. Fiscal 2025 is the highest of the 9 fiscal years on file.

TONX net incomeQ2 2026$76.75M

TONX net income was $76.75M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$2.38M a year earlier. For the full fiscal 2025 it was -$148.48M, compared with -$10.33M in fiscal 2024.

TONX EPSQ2 2026$1.31

TONX diluted EPS was $1.31 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$5.96.

TONX free cash flowQ2 2026-$5.96M

TONX free cash flow was -$5.96M in fiscal Q2 2026 (ended Jun 30, 2026), compared with $1.00M a year earlier. For the full fiscal 2025 it was -$20.86M, compared with -$9.11M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$12.78M$895.0K$63.0K$8.0K$10.52M$9.96M$9.10M$32.0K$6.0K-
Cost of revenue$3.89M$224.0K$19.0K$3.31M$4.50M$4.80M$4.87M$52.0K$8.0K-
Gross profit$8.88M$671.0K$44.0K$6.12M$6.02M$5.16M$4.23M-$20.0K-$2.0K-
Research and development---$5.19M$12.35M$7.93M$4.31M$980.0K$375.0K$257.8K
Selling, general and admin$40.89M$11.24M$11.51M$17.77M$25.71M$1.03M$14.71M$6.77M$4.33M$2.87M
Operating income-$36.44M-$11.64M-$13.79M-$18.87M-$33.71M-$24.74M-$15.83M-$7.79M-$4.71M-$3.13M
Interest expense$1.0K$237.0K$1.19M$1.41M$2.58M$894.0K$186.0K$362.0K$555.0K$340.6K
Pre-tax income-$148.63M-$10.51M---$34.48M-$24.95M-$15.92M---
Income tax-$234.0K---$1.0K$1.0K$2.0K-$1.0K$2.0K$866
Net income-$148.48M-$10.33M-$21.99M-$37.44M-$34.49M-$24.96M-$15.92M-$12.13M-$7.27M-$4.27M
EPS, basic-$5.96-$19.36-$441.48-$6.68-$0.55-$0.80-$0.79-$1.23-$1.03-$0.05
EPS, diluted-$5.96-$19.36-$441.48-$6.68-$0.55-$0.80-$0.79-$1.23-$1.03-$0.05
Diluted shares25.1M592,47833,9952.4M63.3M36.0M20.2M9.9M7.1M79.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$39.49M$7.62M$4.35M$2.43M$937.0K$1.81M$983.0K$634.0K$11.0K$16.8K
Short-term investments-$4.91M--------
Receivables---$1.02M$1.38M$919.0K$1.27M$1.0K-$8.5K
Inventory----$28.0K$34.0K$103.0K---
Current assets$42.36M$16.47M$4.68M$4.06M$3.19M$3.67M$2.59M$718.0K$52.0K$36.1K
Goodwill$5.17M--$9.58M$19.76M$20.06M$16.34M---
Total assets$411.16M$20.64M$10.84M$24.49M$34.43M$32.54M$28.36M$898.0K$92.0K$104.2K
Current liabilities$4.59M$4.29M$7.19M$16.53M$17.93M$16.88M$11.22M$4.89M$5.88M$3.57M
Short-term debt--$5.83M$6.82M$4.18M$110.0K$732.0K---
Long-term debt--$362.0K$1.22M$875.0K-----
Total debt-$118.0K$6.19M$8.04M$5.06M$1.46M--$125.0K$226.3K
Total liabilities$4.77M$4.61M$7.71M$19.33M$21.11M$21.80M$16.91M$5.95M$5.88M$3.57M
Shareholders' equity$406.49M$16.02M$3.13M$5.17M$13.32M$10.74M$11.45M-$5.05M-$5.79M-$3.47M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$20.77M-$8.77M-$8.74M-$13.68M-$25.86M-$16.29M-$8.12M-$4.16M-$1.68M-$1.60M
Capital expenditures$88.0K$342.0K$32.0K$20.0K$26.0K$317.0K$146.0K--$2.5K
Free cash flow-$20.86M-$9.11M-$8.77M-$13.70M-$25.89M-$16.61M-$8.26M---$1.61M
Investing cash flow-$294.54M-$5.38M-$306.0K-$4.75M-$2.26M-$88.0K-$14.59M---$2.5K
Financing cash flow$346.48M$18.29M$10.69M$29.72M$27.25M$17.21M$23.06M$4.78M$1.67M$1.52M
Share repurchases$20.58M------$20.0K-$166.2K
Stock-based compensation$19.14M$2.08M$2.50M$4.46M$5.67M$6.12M--$2.53M$1.30M
Depreciation and amortization$1.30M$1.08M$2.33M$1.11M$1.68M$1.51M$1.04M$20.0K$22.0K$21.3K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY1327.8%1320.6%687.5%-99.9%5.6%9.5%28337.5%433.3%--
Gross margin69.5%75.0%69.8%76550.0%57.2%51.8%46.5%-62.5%-33.3%-
Operating margin-285.2%-1301.0%-21896.8%-235925.0%-320.3%-248.2%-174.0%-24350.0%-78416.7%-
Net margin-1161.9%-1154.1%-34911.1%-467962.5%-327.7%-250.4%-174.9%-37896.9%-121100.0%-
Free cash flow margin-163.2%-1017.5%-13927.0%-171287.5%-246.0%-166.7%-90.8%---
Return on equity-36.5%-64.5%-703.8%-724.7%-258.9%-232.3%-139.1%---
Return on assets-36.1%-50.1%-202.9%-152.9%-100.2%-76.7%-56.1%-1350.4%-7897.8%-4101.7%
Current ratio9.233.840.650.250.180.220.230.150.010.01
Debt to equity-0.011.981.560.380.14----

Source: XBRL data TON Strategy Company files with the SEC, latest filing dated Aug 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

TONX peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
TONX$29.62M+592.3%-$157.83M-532.8%$177.3M
AXP$77.59B+10.2%$12.26B15.8%$216.90B
SPGI$17.21B+18.2%$4.99B29.0%$137.23B
MCO$8.18B+9.0%$2.88B35.3%$88.05B
NU$15.77B+37.0%$2.87B18.2%$58.66B
RKT$11.46B+90.4%$1.30B11.4%$41.01B
COIN$5.63B-26.6%-$701.62M-12.5%$34.98B
AFRM$4.59B+32.7%$2.01B43.9%$22.36B
SYF$19.31B+2.6%$3.33B17.3%$22.33B

TONX FAQ

8 questions
  • What is TONX revenue?
    TON Strategy Company (TONX) reported $29.62M of revenue for the twelve months ended Jun 30, 2026. That is up 592.3% from the year before. Revenue for fiscal 2025 was $12.78M.
  • Is TONX profitable?
    No. TON Strategy Company reported a net loss of $157.83M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does TONX have?
    TON Strategy Company reported $28.80M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is TONX revenue growing?
    TON Strategy Company's revenue changed 14x in fiscal 2025, to $12.78M. Its compound annual growth rate was +5.1% over 5 years.
  • What is TONX gross margin?
    TON Strategy Company's gross profit was $24.63M on $29.62M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 83.1%.
  • What is TONX free cash flow?
    TON Strategy Company generated -$31.38M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$31.34M less capital expenditures.
  • When did TONX last report financial results?
    The latest statements here come from TON Strategy Company's 10-Q filed on Aug 11, 2026, covering the period ended Jun 30, 2026.
  • Where does this TONX financial data come from?
    Quantisnow builds these statements from the structured XBRL data TON Strategy Company files with the SEC. It is provided for information only and is not investment advice.