TON Strategy Company (TONX)

From the record

TON Strategy Company's filings since 2017 show 15 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, 11 times, the latest 2026-06-23); an auditor change (8-K item 4.01, 2 times, the latest 2023-04-21); a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2023-05-15) (its current reports).

From the record

TON Strategy Company's 8 filed years say what it did: revenue went from $32 thousand in fiscal 2018 to $13 million in fiscal 2025, up 135.3% a year; it rose in 6 of 7 years; the deepest fall was 100% from fiscal 2021 to fiscal 2022; net income was positive in 0 of 8 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, TON Strategy Company lost about 37 cents for every dollar of shareholders' money, and gross profitability: its products earned about 2 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 1 cents per dollar of assets, and net share issuance: its share count grew 4138.0% over the year (the filed statements).

From the record

TON Strategy Company's standing among 114 graded names in its industry family: revenue of $13 million in fiscal 2025 ranks in the bottom 30% by size; a net margin of -1161.9% ranks in the bottom 15%; revenue growth of 1068.3% a year over the last 3 filed years ranks in the top 1% (its annual reports).

From the record

TON Strategy Company's leadership, from its insiders' filings and its current reports: the chief executive on the record is Wilson, Kevin Mark (Chief Executive Officer, as filed), filing under that title since 2026-05-11, 6 months (bottom 19% of its family); most of the 11 officers and directors filing now have filed since the record of its people begins (2025-08-07), a floor of 1.3 years the record cannot see past, so that part is not read; 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (bottom 44%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

TON Strategy Company's room to grow, from the newest filed statements (fiscal 2025): cash of $39 million against no long-term debt tagged leaves 9.6% of its assets as net cash, top 39% of its family; cash from operations less capital spending is -163.2% of revenue (bottom 24%); a gross margin of 69.5% (top 28%) (its annual report).

From the record

TON Strategy Company's growth drivers, from the filed years to fiscal 2025: revenue grew 1068.3% a year over the last three filed years against 135.3% over all 8, speeding up (top 1% of its family); the newest year grew 1330.4% (top 3%); research spending grew 6.4% a year (top 39%); capital spending grew 63.8% a year (top 30%) (its annual reports). TON Strategy Company reported 3 lines of business in fiscal 2025: Market Live at $5 million (37%), Go Fund Yourself at $4 million (32%), Ton at $4 million (31%); 2 of 2 grew against the year before (its annual report).

From the record

TON Strategy Company's newest year against its own record: revenue of $13 million in fiscal 2025 came in 35.2% above the $9 million its prior three years' pace pointed to (top 24% of its family); net income of $148 million against a prior three-year average of $23 million (bottom 12%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 1%) (its annual reports).