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TON Strategy Co.

TONX

NASDAQTechnologySoftware - Application

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Previous close

$3.06

+$0.22 · +7.75%

Aug 21, 4:00 PM ET

TONX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

61

Undervalued

Momentum

45

Neutral

Sentiment

50

Mixed

Risk resilience

34

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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Company profile

Company website

TONX is the pioneering, publicly traded company on NASDAQ that functions as a dedicated treasury for Toncoin ($TON), the core cryptocurrency powering The Open Network (TON). This entity strategically acquires and stakes $TON tokens, cultivating a robust, long-term asset reserve. By employing disciplined capital allocation and generating returns from staking, TONX offers investors a regulated pathway to gain exposure to the Toncoin market.

Industry
Software - Application
Sector
Technology
Headquarters
US
CEO
Kevin Wilson
Listed since
Nov 19, 2014
Employees
25

Market position

Day range

Current $3.06

52-week range

Current $3.06

Open
$2.95
Previous close
$2.84
Volume
334.7K
0.81× average
Average volume
414.6K
Average daily volume
Market cap
172.98M USD
Beta
0.7
Market reference 1
50-day average
$3.0778
-0.58% below average
200-day average
$2.8409
+7.71% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
10.68M USD
P/E (TTM)
-1.72×
P/B (TTM)
0.45×
P/S (TTM)
5.84×
EV / EBITDA
-0.07×
Earnings yield
-297.15%
Free cash flow yield
-41.74%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
83.13%
Operating margin
-105.07%
Net margin
-533.54%
Return on equity
-36.53%
Return on assets
-36.11%
Return on invested capital
-8.18%

Financial health

Debt / equity
0×
Current ratio
9.23×
Altman Z-score
19.16
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends46879%-140336%-327551%-514766%Gross margin, FY2021: 57.20%Gross margin, FY2022: 62.50%Gross margin, FY2023: 69.84%Gross margin, FY2024: 74.97%Gross margin, FY2025: 69.53%Operating margin, FY2021: -320.33%Operating margin, FY2022: -235925.00%Operating margin, FY2023: -21896.83%Operating margin, FY2024: -1301.01%Operating margin, FY2025: -260.67%Net margin, FY2021: -327.69%Net margin, FY2022: -467962.50%Net margin, FY2023: -34911.11%Net margin, FY2024: -1154.08%Net margin, FY2025: -1161.90%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 57.20%. Gross margin FY2022 62.50%. Gross margin FY2023 69.84%. Gross margin FY2024 74.97%. Gross margin FY2025 69.53%. Operating margin FY2021 -320.33%. Operating margin FY2022 -235925.00%. Operating margin FY2023 -21896.83%. Operating margin FY2024 -1301.01%. Operating margin FY2025 -260.67%. Net margin FY2021 -327.69%. Net margin FY2022 -467962.50%. Net margin FY2023 -34911.11%. Net margin FY2024 -1154.08%. Net margin FY2025 -1161.90%.

Income trends

Revenue

12.78M USD+1327.82%

Operating income

−33.31M USD-186.08%

Net income

−148.48M USD-1337.50%
Income trends across reported periods28.9M USD−35.6M USD−100.1M USD−164.6M USDRevenue, FY2021: 10.52M USDRevenue, FY2022: 8K USDRevenue, FY2023: 63K USDRevenue, FY2024: 895K USDRevenue, FY2025: 12.78M USDOperating income, FY2021: −33.71M USDOperating income, FY2022: −18.87M USDOperating income, FY2023: −13.8M USDOperating income, FY2024: −11.64M USDOperating income, FY2025: −33.31M USDNet income, FY2021: −34.49M USDNet income, FY2022: −37.44M USDNet income, FY2023: −21.99M USDNet income, FY2024: −10.33M USDNet income, FY2025: −148.48M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 10.52M USD. Revenue FY2022 8K USD. Revenue FY2023 63K USD. Revenue FY2024 895K USD. Revenue FY2025 12.78M USD. Operating income FY2021 −33.71M USD. Operating income FY2022 −18.87M USD. Operating income FY2023 −13.8M USD. Operating income FY2024 −11.64M USD. Operating income FY2025 −33.31M USD. Net income FY2021 −34.49M USD. Net income FY2022 −37.44M USD. Net income FY2023 −21.99M USD. Net income FY2024 −10.33M USD. Net income FY2025 −148.48M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue12.78M USD895K USD63K USD8K USD10.52M USD
Cost of goods sold3.89M USD224K USD19K USD3K USD4.5M USD
Gross profit8.89M USD671K USD44K USD5K USD6.02M USD
Research and development———5.19M USD12.35M USD
Selling, general, and administrative40.89M USD11.24M USD11.51M USD17.77M USD25.71M USD
Operating expenses42.2M USD12.32M USD13.84M USD18.88M USD39.73M USD
Interest income1.03M USD692K USD———
Interest expense1K USD237K USD2.43M USD1.41M USD2.58M USD
Depreciation and amortization1.31M USD1.08M USD2.33M USD1.11M USD2.23M USD
Operating income−33.31M USD−11.64M USD−13.8M USD−18.87M USD−33.71M USD
Net income−148.48M USD−10.33M USD−21.99M USD−37.44M USD−34.49M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
-2833.17%
11 comparable reports
Latest EPS result
1.32
Estimate -1.33 · Beat by 199.25%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.710.39-1.93-4.25Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 25, 2025: actual -2.2, estimate -2.52, surprise +12.70%, Beat. Q2 2025, reported May 13, 2025: actual -2.51, estimate -3.14, surprise +20.06%, Beat. Q3 2025, reported Aug 6, 2025: actual -1.79, estimate -2.04, surprise +12.25%, Beat. Q4 2025, reported Nov 11, 2025: actual 2.23, estimate -1.9, surprise +217.37%, Beat. Q1 2026, reported Mar 24, 2026: actual -3.77, estimate -1.77, surprise -112.99%, Miss. Q2 2026, reported May 12, 2026: actual -1.56, estimate -1.42, surprise -9.86%, Miss. Q3 2026, reported Aug 11, 2026: actual 1.32, estimate -1.33, surprise +199.25%, Beat. Q4 2026, reported Nov 11, 2026: actual —, estimate -1.25, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates16.2M10.86M5.51M170KQ1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Mar 25, 2025: actual 723K USD, estimate 200K USD, surprise +261.50%, Beat. Q2 2025, reported May 13, 2025: actual 1.31M USD, estimate 800K USD, surprise +63.13%, Beat. Q3 2025, reported Aug 6, 2025: actual 2.12M USD, estimate 1.4M USD, surprise +51.64%, Beat. Q4 2025, reported Nov 11, 2025: actual 3.61M USD, estimate 1.4M USD, surprise +157.79%, Beat. Q1 2026, reported Mar 24, 2026: actual 5.74M USD, estimate 1.4M USD, surprise +310.14%, Beat. Q2 2026, reported May 12, 2026: actual 5.25M USD, estimate 2M USD, surprise +162.65%, Beat. Q3 2026, reported Aug 11, 2026: actual 15.02M USD, estimate 2.1M USD, surprise +615.19%, Beat. Q4 2026, reported Nov 11, 2026: actual —, estimate 2.1M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Recent analyst actions

1 institution

TONX news

globenewswire.com

TON Strategy Company Appoints Oscar Suarez to Board of Directors and Names Him Audit Committee Chair

Accounting and financial services executive brings more than four decades of audit, tax, banking, and public-company governance experience Accounting and financial services executive brings more than four decades of…

Read source
seekingalpha.com

TON Strategy Company (TONX) Q2 2026 Earnings Call Transcript

TON Strategy Company (TONX) Q2 2026 Earnings Call Transcript

Read source
globenewswire.com

TON Strategy Company Reports Second Quarter 2026 Financial Results

Generated $15.0 million of Gram staking revenue Held approximately 230.5 million Gram at June 30, including approximately 229.9 million Gram deployed in staking Executed primary actions expected to remove approximately…

Read source
globenewswire.com

TON Strategy Company Sets Second Quarter 2026 Conference Call for Tuesday, August 11, 2026 at 9:00 a.m. ET

LAS VEGAS, July 28, 2026 (GLOBE NEWSWIRE) -- TON Strategy Company (Nasdaq: TONX), a digital asset treasury company dedicated to supporting the TON ecosystem, will hold a conference call on Tuesday, August 11, 2026 at…

Read source
globenewswire.com

TON Strategy Company Highlights Continued Infrastructure Advancements Across the TON Ecosystem

Recent data and developer infrastructure updates strengthen TON's foundation for continued growth and greater scale Recent data and developer infrastructure updates strengthen TON's foundation for continued growth and…

Read source
globenewswire.com

TON Strategy Company Provides Update on Wind-Down of Legacy Operations and June Staking Performance

LAS VEGAS, July 16, 2026 (GLOBE NEWSWIRE) -- TON Strategy Company (“ TON Strategy” or the “Company”) (Nasdaq: TONX), a digital asset treasury company dedicated to supporting the TON ecosystem, today provided an update on…

Read source

Corporate actions

Corporate action history

Stock split

Effective Apr 19, 2023

1:40

Stock split

Effective Feb 4, 2019

1:15

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Micron Technology, Inc. logo

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ETFs holding TONX

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
4.81M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
1.52M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
Schwab U.S. Small-Cap ETF logoSchwab U.S. Small-Cap ETFSCHA
Market value
608.99K
Weight
0.00%
AUM
23.1B USD
Expense ratio
0.03%
Price / 1D
$34.83+0.52%

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