$3.76
-5.1%The first NASDAQ‑listed publicly traded treasury for Toncoin ($TON), the native cryptocurrency of The Open Network (TON). The company accumulates and stakes $TON to build a long-term treasury, offering regulated market exposure to TON through structured capital deployment and staking rewards.
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
TONX • NASDAQ
| TON Strategy Co. Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||
12.8M | 895K | 63K | 8K | 10.5M | 10M | 9.1M | 32K | 5.9K | 0.0 | 0.0 | 0.0 | 7K | 0.0 | |
GROSS PROFIT | ||||||||||||||
(3.9M) | (224K) | (19K) | (3K) | (4.5M) | (4.8M) | (4.9M) | (52K) | (30K) | (21.3K) | (362.6K) | (0.0) | (0.0) | (0.0) | |
8.9M | 671K | 44K | 5K | 6M | 5.2M | 4.2M | -20K | -24.1K | -21.3K | -362.6K | 0.0 | 7K | 0.0 | |
OPERATING INCOME | ||||||||||||||
(45.3M) | (12.3M) | (13.8M) | (18.9M) | (39.7M) | (29.9M) | (20.1M) | (7.8M) | (4.7M) | (3.1M) | (5.4M) | (4.9M) | (4.6M) | (3.4M) | |
(19.3M) | (11.2M) | (11.5M) | (17.8M) | (25.7M) | (20.5M) | (14.7M) | (6.8M) | (4.3M) | (2.9M) | (5.3M) | (4.7M) | (4.1M) | (790.5K) | |
(0.0) | (0.0) | (0.0) | (5.2M) | (12.3M) | (7.9M) | (4.3M) | (980K) | (375.2K) | (257.8K) | (81.6K) | (156.8K) | (485.4K) | (2.6M) | |
-36.4M | -11.6M | -13.8M | -18.9M | -33.7M | -24.7M | -15.8M | -7.8M | -4.7M | -3.1M | -6.8M | -4.9M | -4.6M | -3.4M | |
PRE-TAX INCOME | ||||||||||||||
(1K) | -237K | (2.4M) | (1.4M) | (2.6M) | (646K) | (1.8M) | (1.8M) | (973.4K) | (739.2K) | (152K) | (314.3K) | (0.0) | (0.0) | |
1M | 929K | -2.4M | -1.4M | -2.6M | -646K | -3.5M | -2.6M | -1.6M | 0.0 | -152K | 0.0 | 0.0 | 0.0 | |
(26.1M) | (1.1M) | (2.3M) | -4.1M | (1.7M) | (1.5M) | (1M) | -5K | (20.1K) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-112.2M | 1.3M | -1M | 2.9M | -773K | -218K | -82K | -4.3M | -2.6M | -1.1M | -152K | -314.3K | 0.0 | 0.0 | |
-148.6M | -10.3M | -14.8M | -16M | -34.5M | -25M | -15.9M | -12.1M | -7.3M | -4.3M | -7M | -5.2M | -4.6M | -3.4M | |
NET INCOME | ||||||||||||||
-234K | (0.0) | (0.0) | (0.0) | (1K) | (1K) | (2K) | (1K) | (1.6K) | (866.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
-148.5M | -10.3M | -22M | -37.4M | -34.5M | -25M | -15.9M | -12.1M | -7.3M | -4.3M | -7M | -5.2M | -4.6M | -3.4M |
TONX - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
10-Q 10-Q 2026 Q1 Q1 | May 12, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 12, 2026 | May 12, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 30, 2026 | April 30, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 16, 2026 | April 16, 2026 | 2026 | |
8-K/A 8-K/A 2026 (Amended) N/A | April 02, 2026 | March 31, 2026 | 2026 | |
10-K 10-K 2025 FY FY | March 31, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | March 31, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 26, 2026 | March 26, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 02, 2026 | February 26, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 28, 2026 | January 26, 2026 | 2026 |
Continue your TONX research with focused valuation guides.
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.