NASDAQ : TONX

TON Strategy Company — Financial statements

Technology · Software - Application · United States

Last price 3.06 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 168.52M

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Financial statements

TON Strategy Company (TONX) reported revenue of 30.80M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue30.80M12.78M895.00K63.00K8.00K10.52M
Cost of Revenue4.82M3.89M224.00K19.00K3.00K4.50M
Gross Profit25.98M8.88M671.00K44.00K5.00K6.02M
Selling, General & Admin58.73M40.59M11.24M11.51M17.77M25.71M
Research & Development12.35M
Operating Expenses60.02M41.90M12.31M13.84M18.88M39.73M
Operating Income-34.03M-33.02M-11.64M-13.79M-18.87M-33.71M
Interest Expense-1.00K-1.00K-237.00K-1.19M-1.41M-2.58M
Interest & Investment Income1.39M1.03M692.00K
Other Non Operating Income (Expenses)-118.36M-113.21M723.00K344.00K4.33M689.00K
EBT Excluding Unusual Items-151.00M-145.20M-10.47M-14.64M-15.96M-35.60M
Merger & Restructuring Charges-296.00K-296.00K
Gain (Loss) on Sale of Investments-121.00K-44.00K
Asset Writedown-3.13M-3.13M
Legal Settlements-200.00K
Other Unusual Items1.11M
Pretax Income-154.55M-148.62M-10.51M-14.84M-15.96M-34.49M
Income Tax Expense-233.00K-234.00K
Earnings From Continuing Operations-154.32M-148.39M-10.51M-14.84M-15.96M-34.49M
Earnings From Discontinued Operations-3.71M-7.15M-21.48M
Net Income to Company-158.03M-148.39M-10.51M-21.99M-37.44M-34.49M
Minority Interest in Earnings201.00K-88.00K181.00K
Net Income-157.83M-148.48M-10.33M-21.99M-37.44M-34.49M
Preferred Dividends & Other Adjustments1.07M1.15M1.14M164.00K246.00K348.00K
Net Income to Common-158.89M-149.63M-11.47M-22.16M-37.68M-34.83M
Shares Outstanding (Basic)53.61M25.11M592.48K33.99K12.13K
Shares Outstanding (Diluted)53.61M25.11M592.48K33.99K12.13K
EPS (Basic)-2.96-5.96-19.36-651.80-3,105.32
EPS (Diluted)-2.97-5.96-19.36-651.80-3,105.32
Free Cash Flow-29.26M-20.86M-9.11M-10.63M-19.43M-25.89M
Free Cash Flow Per Share-0.55-0.83-15.37-312.66-1,600.82
Gross Margin84.36%69.53%74.97%69.84%62.50%57.20%
Operating Margin-110.50%-258.35%-1,301.01%-21,896.83%-235,925.00%-320.33%
Profit Margin-515.89%-1,170.91%-1,281.79%-35,171.43%-471,037.50%-331.00%
Free Cash Flow Margin-95.01%-163.21%-1,017.54%-16,871.43%-242,825.00%-245.99%
EBITDA-33.77M-32.73M-11.56M-13.67M-18.70M-32.03M
EBITDA Margin-109.63%-256.14%
D&A For EBITDA270.00K283.00K79.00K122.00K176.00K1.68M
EBIT-34.03M-33.02M-11.64M-13.79M-18.87M-33.71M
EBIT Margin-110.50%-258.35%
Revenue as Reported30.80M12.78M895.00K10.52M

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents28.80M39.49M7.62M4.35M2.43M937.00K
Trading Asset Securities4.91M
Cash & Short-Term Investments28.80M39.49M12.53M4.35M2.43M937.00K
Accounts Receivable441.00K350.00K1.38M
Other Receivables734.00K734.00K2.46M
Receivables734.00K1.18M2.81M1.38M
Prepaid Expenses537.00K1.53M252.00K331.00K306.00K875.00K
Restricted Cash169.00K169.00K878.00K
Other Current Assets1.45M1.32M
Total Current Assets31.69M42.36M16.47M4.68M4.06M3.19M
Property, Plant & Equipment3.00K389.00K671.00K261.00K1.89M2.88M
Goodwill5.17M19.76M
Other Intangible Assets27.00K48.00K3.17M4.11M6.26M8.30M
Other Long-Term Assets371.82M363.20M326.00K1.79M12.29M293.00K
Total Assets403.55M411.16M20.64M10.84M24.49M34.43M
Accounts Payable2.33M2.14M731.00K1.41M3.98M3.75M
Accrued Expenses1.46M1.66M3.29M3.92M2.05M5.23M
Short-Term Debt1.33M4.18M
Current Portion of Long-Term Debt20.00K1.79M4.47M40.00K
Current Portion of Leases129.00K124.00K67.00K355.00K592.00K
Current Unearned Revenue155.00K134.00K986.00K
Other Current Liabilities1.17M500.00K1.00K4.35M3.15M
Total Current Liabilities4.96M4.59M4.29M7.19M16.53M17.93M
Long-Term Debt98.00K362.00K1.22M875.00K
Long-Term Leases80.00K222.00K164.00K1.58M2.30M
Other Long-Term Liabilities46.00K100.00K
Total Liabilities5.00M4.77M4.61M7.71M19.33M21.11M
Common Stock6.00K6.00K1.00K1.00K1.00K7.00K
Additional Paid-In Capital749.78M743.21M203.29M175.77M158.63M129.34M
Retained Earnings-351.01M-336.73M-187.09M-175.62M-153.46M-116.03M
Total Common Equity398.78M406.49M16.20M145.00K5.17M13.32M
Minority Interest-232.00K-93.00K-181.00K
Shareholders' Equity398.55M406.39M16.02M3.12M5.17M13.32M
Total Liabilities & Equity403.55M411.16M20.64M10.84M24.49M34.43M
Total Debt209.00K464.00K2.38M8.95M7.99M
Net Cash (Debt)28.80M39.28M12.07M1.97M-6.53M-7.05M
Net Cash Per Share0.541.5620.3758.04-537.70
Filing Date Shares Outstanding55.07M56.53M1.11M396.50K19.34K10.02K
Total Common Shares Outstanding56.53M56.53M993.12K106.16K14.59K
Working Capital26.74M37.77M12.17M-2.50M-12.47M-14.74M
Book Value Per Share7.057.1916.311.37354.08
Tangible Book Value398.75M401.27M13.03M-3.96M-1.09M-14.74M
Tangible Book Value Per Share7.057.1013.12-37.32-74.91
Machinery102.00K153.00K153.00K
Leasehold Improvements15.00K1.02M1.06M

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-157.83M-148.48M-10.33M-21.99M-37.44M-34.49M
Depreciation & Amortization270.00K283.00K79.00K122.00K176.00K1.68M
Other Amortization1.02M1.02M1.17M2.76M1.76M2.46M
Loss (Gain) From Sale of Assets14.00K-5.00K
Asset Writedown & Restructuring Costs3.13M3.13M
Loss (Gain) From Sale of Investments147.00K26.00K44.00K
Stock-Based Compensation25.08M19.14M2.08M2.50M4.46M5.67M
Provision & Write-off of Bad Debts622.00K622.00K300.00K
Other Operating Activities92.82M106.87M-92.00K7.91M18.55M-1.71M
Change in Accounts Receivable-693.00K-693.00K-350.00K-763.00K
Change in Accounts Payable725.00K-381.00K-438.00K-251.00K983.00K1.22M
Change in Unearned Revenue21.00K21.00K134.00K714.00K
Change in Other Net Operating Assets-368.00K-2.33M-1.06M213.00K-2.18M-936.00K
Operating Cash Flow-29.17M-20.77M-8.77M-10.60M-19.41M-25.86M
Capital Expenditures-90.00K-88.00K-342.00K-32.00K-20.00K-26.00K
Sale of Property, Plant & Equipment1.05M11.00K
Cash Acquisitions-4.22M-4.22M
Sale (Purchase) of Intangibles-138.00K-146.00K-86.00K-274.00K-4.73M-2.25M
Investment in Securities5.00M4.91M-4.96M
Other Investing Activities-290.58M-295.00M4.75M-1.00K
Investing Cash Flow-288.98M-294.54M-5.38M4.44M-4.75M-2.26M
Short-Term Debt Issued12.78M
Long-Term Debt Issued1.00M11.02M
Total Debt Issued1.00M11.02M12.78M
Short-Term Debt Repaid-11.17M
Long-Term Debt Repaid-118.00K-19.00K-2.50M-4.95M
Total Debt Repaid-118.00K-19.00K-2.50M-4.95M-11.17M
Net Debt Issued (Repaid)-118.00K-19.00K-1.50M6.07M1.61M
Issuance of Common Stock368.63M368.63M18.60M9.21M24.43M25.65M
Repurchase of Common Stock-20.58M-20.58M
Other Financing Activities-300.00K-300.00K-285.00K-2.62M-4.86M-15.00K
Financing Cash Flow341.90M346.48M18.29M8.08M25.65M27.25M
Net Cash Flow23.74M31.17M4.14M1.92M1.49M-878.00K
Free Cash Flow-29.26M-20.86M-9.11M-10.63M-19.43M-25.89M
Free Cash Flow Margin-95.01%-163.21%-1,017.54%-16,871.43%-242,825.00%-245.99%
Free Cash Flow Per Share-0.55-0.83-15.37-312.66-1,600.82
Levered Free Cash Flow5.93M949.00K-9.32M-8.03M-13.16M-17.52M
Unlevered Free Cash Flow5.93M949.62K-9.34M-7.83M-13.10M-18.37M
Cash Interest Paid1.00K5.00K399.00K359.00K135.00K
Cash Income Tax Paid4.00K3.00K1.00K2.00K1.00K1.00K
Change in Working Capital-315.00K-3.38M-1.72M-38.00K-1.20M233.00K

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization160.26M117.59M6.49M3.33M19.06M87.38M
Enterprise Value131.45M65.15M-7.90M5.41M26.84M89.53M
Last Close Price3.061.996.5434.421,312.809,920.00
PS Ratio5.279.207.2652.812,382.738.30
PB Ratio0.430.290.411.063.696.56
P/TBV Ratio0.410.290.50
EV/Sales Ratio4.345.1085.893,355.618.51
Debt / Equity Ratio0.000.030.761.730.60
Net Debt / Equity Ratio-0.07-0.10-0.75-0.631.260.53
Net Debt / EBITDA Ratio0.851.201.040.14-0.35-0.22
Net Debt / FCF Ratio0.981.881.320.19-0.34-0.27
Asset Turnover0.140.060.060.000.000.31
Quick Ratio5.968.863.570.610.150.13
Current Ratio6.399.233.830.650.240.18
Return on Equity (ROE)-73.85%-70.26%-109.79%-358.07%-172.63%-286.58%
Return on Assets (ROA)-9.96%-9.56%-46.24%-48.81%-40.04%-62.92%
Return on Capital Employed (ROCE)-8.50%-8.10%-71.30%-377.80%-237.10%-204.40%
Earnings Yield-101.94%-126.27%-159.04%-661.05%-196.40%-39.47%
FCF Yield-18.01%-17.74%-140.22%-319.46%-101.91%-29.63%
Buyback Yield / Dilution-5,160.31%-4,137.98%-1,642.84%-180.14%