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
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
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.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 30.80M | 12.78M | 895.00K | 63.00K | 8.00K | 10.52M |
| Cost of Revenue | 4.82M | 3.89M | 224.00K | 19.00K | 3.00K | 4.50M |
| Gross Profit | 25.98M | 8.88M | 671.00K | 44.00K | 5.00K | 6.02M |
| Selling, General & Admin | 58.73M | 40.59M | 11.24M | 11.51M | 17.77M | 25.71M |
| Research & Development | 12.35M | |||||
| Operating Expenses | 60.02M | 41.90M | 12.31M | 13.84M | 18.88M | 39.73M |
| 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 Income | 1.39M | 1.03M | 692.00K | |||
| Other Non Operating Income (Expenses) | -118.36M | -113.21M | 723.00K | 344.00K | 4.33M | 689.00K |
| 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 Items | 1.11M | |||||
| 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 Earnings | 201.00K | -88.00K | 181.00K | |||
| Net Income | -157.83M | -148.48M | -10.33M | -21.99M | -37.44M | -34.49M |
| Preferred Dividends & Other Adjustments | 1.07M | 1.15M | 1.14M | 164.00K | 246.00K | 348.00K |
| Net Income to Common | -158.89M | -149.63M | -11.47M | -22.16M | -37.68M | -34.83M |
| Shares Outstanding (Basic) | 53.61M | 25.11M | 592.48K | 33.99K | 12.13K | |
| Shares Outstanding (Diluted) | 53.61M | 25.11M | 592.48K | 33.99K | 12.13K | |
| 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 Margin | 84.36% | 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 EBITDA | 270.00K | 283.00K | 79.00K | 122.00K | 176.00K | 1.68M |
| EBIT | -34.03M | -33.02M | -11.64M | -13.79M | -18.87M | -33.71M |
| EBIT Margin | -110.50% | -258.35% | ||||
| Revenue as Reported | 30.80M | 12.78M | 895.00K | 10.52M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 28.80M | 39.49M | 7.62M | 4.35M | 2.43M | 937.00K |
| Trading Asset Securities | 4.91M | |||||
| Cash & Short-Term Investments | 28.80M | 39.49M | 12.53M | 4.35M | 2.43M | 937.00K |
| Accounts Receivable | 441.00K | 350.00K | 1.38M | |||
| Other Receivables | 734.00K | 734.00K | 2.46M | |||
| Receivables | 734.00K | 1.18M | 2.81M | 1.38M | ||
| Prepaid Expenses | 537.00K | 1.53M | 252.00K | 331.00K | 306.00K | 875.00K |
| Restricted Cash | 169.00K | 169.00K | 878.00K | |||
| Other Current Assets | 1.45M | 1.32M | ||||
| Total Current Assets | 31.69M | 42.36M | 16.47M | 4.68M | 4.06M | 3.19M |
| Property, Plant & Equipment | 3.00K | 389.00K | 671.00K | 261.00K | 1.89M | 2.88M |
| Goodwill | 5.17M | 19.76M | ||||
| Other Intangible Assets | 27.00K | 48.00K | 3.17M | 4.11M | 6.26M | 8.30M |
| Other Long-Term Assets | 371.82M | 363.20M | 326.00K | 1.79M | 12.29M | 293.00K |
| Total Assets | 403.55M | 411.16M | 20.64M | 10.84M | 24.49M | 34.43M |
| Accounts Payable | 2.33M | 2.14M | 731.00K | 1.41M | 3.98M | 3.75M |
| Accrued Expenses | 1.46M | 1.66M | 3.29M | 3.92M | 2.05M | 5.23M |
| Short-Term Debt | 1.33M | 4.18M | ||||
| Current Portion of Long-Term Debt | 20.00K | 1.79M | 4.47M | 40.00K | ||
| Current Portion of Leases | 129.00K | 124.00K | 67.00K | 355.00K | 592.00K | |
| Current Unearned Revenue | 155.00K | 134.00K | 986.00K | |||
| Other Current Liabilities | 1.17M | 500.00K | 1.00K | 4.35M | 3.15M | |
| Total Current Liabilities | 4.96M | 4.59M | 4.29M | 7.19M | 16.53M | 17.93M |
| Long-Term Debt | 98.00K | 362.00K | 1.22M | 875.00K | ||
| Long-Term Leases | 80.00K | 222.00K | 164.00K | 1.58M | 2.30M | |
| Other Long-Term Liabilities | 46.00K | 100.00K | ||||
| Total Liabilities | 5.00M | 4.77M | 4.61M | 7.71M | 19.33M | 21.11M |
| Common Stock | 6.00K | 6.00K | 1.00K | 1.00K | 1.00K | 7.00K |
| Additional Paid-In Capital | 749.78M | 743.21M | 203.29M | 175.77M | 158.63M | 129.34M |
| Retained Earnings | -351.01M | -336.73M | -187.09M | -175.62M | -153.46M | -116.03M |
| Total Common Equity | 398.78M | 406.49M | 16.20M | 145.00K | 5.17M | 13.32M |
| Minority Interest | -232.00K | -93.00K | -181.00K | |||
| Shareholders' Equity | 398.55M | 406.39M | 16.02M | 3.12M | 5.17M | 13.32M |
| Total Liabilities & Equity | 403.55M | 411.16M | 20.64M | 10.84M | 24.49M | 34.43M |
| Total Debt | 209.00K | 464.00K | 2.38M | 8.95M | 7.99M | |
| Net Cash (Debt) | 28.80M | 39.28M | 12.07M | 1.97M | -6.53M | -7.05M |
| Net Cash Per Share | 0.54 | 1.56 | 20.37 | 58.04 | -537.70 | |
| Filing Date Shares Outstanding | 55.07M | 56.53M | 1.11M | 396.50K | 19.34K | 10.02K |
| Total Common Shares Outstanding | 56.53M | 56.53M | 993.12K | 106.16K | 14.59K | |
| Working Capital | 26.74M | 37.77M | 12.17M | -2.50M | -12.47M | -14.74M |
| Book Value Per Share | 7.05 | 7.19 | 16.31 | 1.37 | 354.08 | |
| Tangible Book Value | 398.75M | 401.27M | 13.03M | -3.96M | -1.09M | -14.74M |
| Tangible Book Value Per Share | 7.05 | 7.10 | 13.12 | -37.32 | -74.91 | |
| Machinery | 102.00K | 153.00K | 153.00K | |||
| Leasehold Improvements | 15.00K | 1.02M | 1.06M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -157.83M | -148.48M | -10.33M | -21.99M | -37.44M | -34.49M |
| Depreciation & Amortization | 270.00K | 283.00K | 79.00K | 122.00K | 176.00K | 1.68M |
| Other Amortization | 1.02M | 1.02M | 1.17M | 2.76M | 1.76M | 2.46M |
| Loss (Gain) From Sale of Assets | 14.00K | -5.00K | ||||
| Asset Writedown & Restructuring Costs | 3.13M | 3.13M | ||||
| Loss (Gain) From Sale of Investments | 147.00K | 26.00K | 44.00K | |||
| Stock-Based Compensation | 25.08M | 19.14M | 2.08M | 2.50M | 4.46M | 5.67M |
| Provision & Write-off of Bad Debts | 622.00K | 622.00K | 300.00K | |||
| Other Operating Activities | 92.82M | 106.87M | -92.00K | 7.91M | 18.55M | -1.71M |
| Change in Accounts Receivable | -693.00K | -693.00K | -350.00K | -763.00K | ||
| Change in Accounts Payable | 725.00K | -381.00K | -438.00K | -251.00K | 983.00K | 1.22M |
| Change in Unearned Revenue | 21.00K | 21.00K | 134.00K | 714.00K | ||
| Change in Other Net Operating Assets | -368.00K | -2.33M | -1.06M | 213.00K | -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 & Equipment | 1.05M | 11.00K | ||||
| Cash Acquisitions | -4.22M | -4.22M | ||||
| Sale (Purchase) of Intangibles | -138.00K | -146.00K | -86.00K | -274.00K | -4.73M | -2.25M |
| Investment in Securities | 5.00M | 4.91M | -4.96M | |||
| Other Investing Activities | -290.58M | -295.00M | 4.75M | -1.00K | ||
| Investing Cash Flow | -288.98M | -294.54M | -5.38M | 4.44M | -4.75M | -2.26M |
| Short-Term Debt Issued | 12.78M | |||||
| Long-Term Debt Issued | 1.00M | 11.02M | ||||
| Total Debt Issued | 1.00M | 11.02M | 12.78M | |||
| 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 | -1.50M | 6.07M | 1.61M | |
| Issuance of Common Stock | 368.63M | 368.63M | 18.60M | 9.21M | 24.43M | 25.65M |
| 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 Flow | 341.90M | 346.48M | 18.29M | 8.08M | 25.65M | 27.25M |
| Net Cash Flow | 23.74M | 31.17M | 4.14M | 1.92M | 1.49M | -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 Flow | 5.93M | 949.00K | -9.32M | -8.03M | -13.16M | -17.52M |
| Unlevered Free Cash Flow | 5.93M | 949.62K | -9.34M | -7.83M | -13.10M | -18.37M |
| Cash Interest Paid | 1.00K | 5.00K | 399.00K | 359.00K | 135.00K | |
| Cash Income Tax Paid | 4.00K | 3.00K | 1.00K | 2.00K | 1.00K | 1.00K |
| Change in Working Capital | -315.00K | -3.38M | -1.72M | -38.00K | -1.20M | 233.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 160.26M | 117.59M | 6.49M | 3.33M | 19.06M | 87.38M |
| Enterprise Value | 131.45M | 65.15M | -7.90M | 5.41M | 26.84M | 89.53M |
| Last Close Price | 3.06 | 1.99 | 6.54 | 34.42 | 1,312.80 | 9,920.00 |
| PS Ratio | 5.27 | 9.20 | 7.26 | 52.81 | 2,382.73 | 8.30 |
| PB Ratio | 0.43 | 0.29 | 0.41 | 1.06 | 3.69 | 6.56 |
| P/TBV Ratio | 0.41 | 0.29 | 0.50 | |||
| EV/Sales Ratio | 4.34 | 5.10 | 85.89 | 3,355.61 | 8.51 | |
| Debt / Equity Ratio | 0.00 | 0.03 | 0.76 | 1.73 | 0.60 | |
| Net Debt / Equity Ratio | -0.07 | -0.10 | -0.75 | -0.63 | 1.26 | 0.53 |
| Net Debt / EBITDA Ratio | 0.85 | 1.20 | 1.04 | 0.14 | -0.35 | -0.22 |
| Net Debt / FCF Ratio | 0.98 | 1.88 | 1.32 | 0.19 | -0.34 | -0.27 |
| Asset Turnover | 0.14 | 0.06 | 0.06 | 0.00 | 0.00 | 0.31 |
| Quick Ratio | 5.96 | 8.86 | 3.57 | 0.61 | 0.15 | 0.13 |
| Current Ratio | 6.39 | 9.23 | 3.83 | 0.65 | 0.24 | 0.18 |
| 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% |