TON Strategy (TONX)

Nasdaq Market Closed

TON Strategy Company is a listed digital-asset treasury and Web3 business whose strategy is tied to The Open Network, the blockchain commonly associated with Telegram’s large user ecosystem. The company’s treasury activity centres on Toncoin, the native token used for transactions, staking, and network incentives on TON. By holding and staking TON, the company seeks to participate in network validation economics while managing the operational, accounting, custody, and risk considerations that come with a public company holding digital assets.

The business is not limited to passive token ownership. TON Strategy Company also positions itself as an ecosystem participant, supporting commercial and consumer-facing Web3 initiatives that may benefit from TON’s emphasis on fast settlement, scalable applications, and integration with messaging-based user experiences. This gives the company exposure to the adoption of blockchain services such as payments, decentralised applications, and token-enabled commerce, while also leaving it sensitive to volatility in crypto markets and changes in regulation.

Its operations are reported across MARKET.live, Go Fund Yourself, and TON activities. MARKET.live is a multi-vendor livestream shopping platform that blends e-commerce, creator-led promotion, and video-based sales channels, and it accounts for the largest share of revenue. That segment gives the company an operating business outside its digital-asset treasury, while the TON segment reflects its strategic focus on blockchain infrastructure and Toncoin-related opportunities. For investors, TON Strategy Company stands out as a hybrid equity: part Web3 ecosystem play, part digital-asset treasury vehicle, and part social-commerce platform.

3.76 USD
3.49 USD
−0.20 (-5.05%)
Pre-market

Last updated

Market Cap
212.56M
P/E
P/FCF
P/S
12.71
Enterprise Value
177.77M
Sector
Industry
Address
2300 WEST SAHARA AVENUE, LAS VEGAS, NV, 89102
Market Cap
212.56M
Enterprise Value
177.77M
P/E
P/B
0.67
P/S
12.71
EV / EBITDA
-5.31
EV / Sales
10.63
EPS
-4.21
Dividend Yield
0%
P/FCF
P/CF
Free Cash Flow
-319.42M
ROE
-75.21%
ROA
-74.02%
Debt / Equity
0
Current Ratio
7.39
Quick Ratio
7.39
Cash
6.91
Avg Volume
499.85K
Fundamentals Snapshot Price
3.76

Income Statement

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Revenue 5.25M 5.74M 3.61M 2.12M 1.31M
Gross profit 3.96M 3.69M 2.72M 1.51M 709K
Operating income -3.89M -9.14M -21.71M -2.93M -2.66M
EBITDA -3.87M -5.67M -21.37M -2.6M -2.37M
Net income -91.04M -227.88M 83.27M -2.46M -2.56M
Basic EPS -1.56 -11.82 2.23 -1.79 -2.51
Diluted EPS -1.56 -11.81 2.23 -1.79 -2.51

Balance Sheet

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Total assets 321.66M 411.16M 661.88M 23.66M 18.37M
Total liabilities 5.1M 4.77M 22.42M 4.31M 3.83M
Total equity 316.57M 406.4M 639.46M 19.35M 14.54M
Cash & equivalents 34.78M 39.49M 53.04M 4.35M 6.28M
Current assets 37.19M 42.2M 57.55M 11.02M 13.37M
Current liabilities 5.04M 4.59M 7.81M 3.57M 3.64M

Cash Flow

Line Item 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1
Operating cash flow -4.69M -7.99M -9.42M -2.29M -1.07M
Investing cash flow -21K -36K -290.02M -4.34M -152K
Financing cash flow -6.24M 348.13M 4.7M -118K
Change in cash -4.71M -14.26M 48.69M -1.92M -1.34M
Kind Filing Date Link
edgar index 4 — TON Strategy Co View Filing
edgar index 4/A — TON Strategy Co View Filing
edgar index 4/A — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — Marbach Mary View Filing
edgar index 4 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — Olsen Sarah Josephine View Filing
form 4 Form 4 — Wilson Kevin Mark View Filing
form 4 Form 4 — Sohn Evan View Filing
form 4 Form 4 — Sohn Evan View Filing
form 4 Form 4 — Wilson Kevin Mark View Filing
edgar index 8-K — TON Strategy Co View Filing
edgar index 10-Q — TON Strategy Co View Filing
eight k text 8-K — 8-K View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — Cary Nicolas Claude View Filing
form 4 Form 4 — Highfield Tucker Montana View Filing
form 4 Form 4 — Marbach Mary View Filing
form 4 Form 4 — Olsen Sarah Josephine View Filing
form 4 Form 4 — Olsen Sarah Josephine View Filing
form 4 Form 4 — Sohn Evan View Filing
edgar index 8-K — TON Strategy Co View Filing
eight k text 8-K — 8-K View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 3 — TON Strategy Co View Filing
form 3 Form 3 — ARISTEIA CAPITAL, L.L.C. View Filing
form 3 Form 3 — Lynch Robert H. Jr. View Filing
form 3 Form 3 — Hla Jonathan M. View Filing
form 3 Form 3 — Techar William R. View Filing
form 3 Form 3 — Frascella Anthony M. View Filing
edgar index SCHEDULE 13G/A — TON Strategy Co View Filing
edgar index 8-K/A — TON Strategy Co View Filing
edgar index 8-K — TON Strategy Co View Filing
eight k text 8-K — 8-K View Filing
edgar index 8-K — TON Strategy Co View Filing
eight k text 8-K — 8-K View Filing
edgar index SCHEDULE 13G — TON Strategy Co View Filing
edgar index 8-K — TON Strategy Co View Filing
eight k text 8-K — 8-K View Filing
edgar index 3 — TON Strategy Co View Filing
edgar index 3 — TON Strategy Co View Filing
form 3 Form 3 — Rivard Bill John View Filing
form 3 Form 3 — Rivard Bill John View Filing
form 3 Form 3 — Marbach Mary View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
edgar index 4/A — TON Strategy Co View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
edgar index 4 — TON Strategy Co View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing
form 4 Form 4 — CUTAIA RORY J. View Filing