15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $13M | -$148M | 69.5% | -285.2% | -$21M | — | $39M |
| 2024 | $895000 | -$10M | 75.0% | -1301.0% | -$9M | — | $8M |
| 2023 | $63000 | -$22M | 69.8% | -21896.8% | — | — | — |
| 2022 | $8000 | -$37M | 76550.0% | -235925.0% | -$19M | — | $2M |
| 2021 | $11M | -$34M | 57.2% | -320.3% | -$26M | — | $937000 |
| 2020 | $10M | -$25M | 51.8% | -248.2% | -$17M | — | $2M |
| 2019 | $9M | -$16M | 46.5% | -174.0% | -$8M | — | $983000 |
| 2018 | $32000 | -$12M | -62.5% | -24350.0% | — | — | $634000 |
| 2017 | — | -$7M | — | — | — | — | $11000 |
| 2016 | — | -$4M | — | — | $2M | — | $16762 |
| 2015 | — | -$7M | — | — | — | — | $103019 |
| 2014 | — | -$5M | — | — | — | — | $1M |
| 2014 | — | -$33700 | — | — | — | — | $17086 |
| 2014 | — | -$29163 | — | — | — | — | $22214 |
| 2013 | — | -$5M | — | — | — | — | $124224 |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $5M | -$91M | 75.3% | -74.0% | -$5M | — | $35M |
| Dec '25 | $6M | -$228M | 0.0% | -159.2% | -$8M | — | $39M |
| Sep '25 | $4M | $84M | 0.0% | -601.5% | -$9M | — | $54M |
| Jun '25 | $2M | -$2M | 0.0% | -138.2% | -$2M | — | $5M |
| Mar '25 | $1M | -$3M | 54.3% | -203.8% | -$1M | — | $7M |
| Dec '24 | $723000 | -$3M | 0.0% | -513.1% | -$2M | — | $8M |
| Sep '24 | $128000 | -$2M | 0.0% | -1806.3% | -$2M | — | — |
| Jun '24 | $37000 | -$2M | 0.0% | -6500.0% | -$3M | — | — |
| Mar '24 | $7000 | -$3M | 0.0% | -45957.1% | -$2M | — | — |
| Dec '23 | $29000 | -$3M | 0.0% | -10386.2% | — | — | — |
| Sep '23 | $29000 | -$4M | 82.8% | -11689.7% | — | — | — |
| Jun '23 | $3000 | -$10M | 66.7% | -108866.7% | — | — | $4M |
| Mar '23 | $2000 | -$6M | 75800.0% | -206350.0% | -$3M | — | $4M |
| Dec '22 | $5000 | -$16M | 27820.0% | -66660.0% | -$3M | — | $2M |
| Sep '22 | $3000 | -$8M | 66.7% | -185400.0% | -$5M | — | $921000 |
| Jun '22 | $2M | -$6M | 65.2% | -200.3% | — | — | $6M |
| Mar '22 | $3M | -$7M | 63.8% | -271.5% | — | — | $4M |
| Dec '21 | $3M | -$6M | 59.9% | -268.6% | -$5M | — | $937000 |
| Sep '21 | $3M | -$9M | 62.6% | -283.8% | — | — | $4M |
| Jun '21 | $2M | -$12M | 53.2% | -371.3% | — | — | $6M |
How the market has priced TONX against its own fundamentals since 2025-09 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, TON Strategy Co's revenue has grown 5.1% per year. These are computed facts, not advice.
As of FY2025, TON Strategy Co reported — of total debt against $39M of cash; operating income covered interest expense -36442.0×.
In FY2025, gross margin was 69.5%, operating margin -285.2%, and net margin -1161.9%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.