TON Strategy Co
TONX Nasdaq· Finance Services
Last close · Oct 23, 2026
$2.96
KIRA · Stoqly’s AI analyst, in plain words
- TON Strategy Co had $12.8M of revenue in fiscal 2025, up 1,327.8% on the year before. Over five years, revenue changed +5.1% a year on average.
- Its operating margin was −285.2%, up 1,015.8 pts: of every 100 in sales, about −285 is left after running the business.
- TON Strategy Co lost $148M in fiscal 2025.
- Free cash flow was −$20.9M in fiscal 2025, −163.2% of revenue.
- TON Strategy Co returned $20.6M to shareholders in fiscal 2025. The diluted share count rose 4,137.8%.
Market cap
$173M
P/E
—
Revenue
$12.8M
Net income
−$148M
Free cash flow
−$20.9M
Operating margin
−285.2%
TON Strategy Co in 30 seconds · fiscal 2025
Are sales growing?
+1,327.8%
Yes. Sales grew 1,327.8% last year.
Does it make a profit?
−1,161.9%
No. It lost money last year.
Does profit turn into cash?
−163.2%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 8
Weak. It passes 3 of 8 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What TON Strategy Co does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 31, 2026
- Legal name
- TON Strategy Co
- CIK
- 0001566610
TON Strategy Co · TONX
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $10.5M | $0.0M | $0.1M | $0.9M | $12.8M |
| Revenue growth | 5.6% | −99.9% | 687.5% | 1,320.6% | 1,327.8% |
| Net interest income | — | — | −$1.2M | −$0.2M | −$0.0M |
| Gross margin | 57.2% | 76,550.0% | 69.8% | 75.0% | 69.5% |
| Operating margin | −320.3% | −235,925.0% | −21,896.8% | −1,301.0% | −285.2% |
| Net income | −$34.5M | −$37.4M | −$22.0M | −$10.3M | −$148M |
| Net margin | −327.7% | −467,962.5% | −34,911.1% | −1,154.1% | −1,161.9% |
| Diluted EPS | −$0.55 | −$6.68 | −$441.48 | −$19.36 | −$5.96 |
| Cash | |||||
| Cash from operations | −$25.9M | −$19.4M | −$8.7M | −$8.8M | −$20.8M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | $0.3M | $0.1M |
| Free cash flow | −$25.9M | −$19.4M | −$8.8M | −$9.1M | −$20.9M |
| FCF margin | −246.0% | −242,825.0% | −13,927.0% | −1,017.5% | −163.2% |
| Share buybacks | — | — | — | — | $20.6M |
| Share count change | 75.8% | −96.2% | −98.6% | 1,642.6% | 4,137.8% |
| Debt and strength | |||||
| Cash and short-term investments | $0.9M | $2.4M | $4.4M | $12.5M | $39.5M |
| Debt incl. finance leases | $4.2M | $6.8M | $5.8M | — | — |
| Shareholders' equity | $13.3M | $5.2M | $3.1M | $16.2M | $406M |
| Current ratio | 0.2x | 0.2x | 0.7x | 3.8x | 9.2x |
| Interest coverage | −13.1x | −13.4x | −11.6x | −49.1x | −36,442.0x |
| Returns and quality | |||||
| Return on capital | −160.8% | −156.0% | −236.8% | — | — |
| Return on equity | −286.6% | −405.0% | −530.6% | −106.9% | −70.3% |
| Return on tangible equity | — | — | −736.6% | −71.6% | −37.3% |
| Piotroski F-score | 2 | 4 | 4 | 5 | 3 |
| Altman Z'' | −19.7 | −28.7 | −62.5 | −25.8 | 86.8 |
Insiders bought, 12 months
$0.1M
4 insiders
Insiders sold, 12 months
$3.3M
3 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
TON Strategy Co · TONX
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $2.96 a share, the company is worth $173M.
Source: SEC EDGAR XBRL filings (CIK 0001566610). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.