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Research & education only — not financial advice. EDGAR is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates — see Disclosures. Do your own research.

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EEDGAR/calls
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Home›Stocks›TONX

TONX

TON Strategy Co

Next earnings Aug 4, 2026 · consensus $-1.36 EPS, $2.14M rev

Last earnings +4.2% on 2026-05-12

Hold
$2.56
▲ 0.00%
$2.56▼ -63.38%
over 1Y
L $1.80EODHDH $22.45
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.0%
1W-17.4%
1M-36.8%
3M+5.1%
YTD+6.2%
1Y-63.4%
OverviewFinancialsValuationQualityTimelineFilings
Rating
Hold
Quality
D
Valuation
Fair value
Filings
Flagged
Hold
Conviction
Horizon
Medium (3–12mo)
Street · 7 analysts
Buy

Revenue grew 1327.8% YoY; but unprofitable (net margin -1161.9%).

TON Strategy Co shows $12.8M in FY2025 revenue (+1327.8% YoY), a -1161.9% net margin, and -36.5% ROE.

Financials · annual, by fiscal year

Line itemFY21FY22FY23FY24FY25
Revenue$10.5M$8.00K$63.0K$895K$12.8M
Gross profit$6.02M$6.12M———
Operating income-$33.7M-$18.9M-$13.8M-$11.6M-$36.4M
Net income-$34.5M-$37.4M-$22.0M-$10.3M-$148M
Diluted EPS—-$6.68-$441.48-$19.36-$5.96
Net margin-327.7%-467962.5%-34911.1%-1154.1%-1161.9%

Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.

Key statistics

Valuation

Enterprise value$111M
EV / EBITDA—
EV / Sales8.7
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-102.6%
FCF yield-14.4%

Quality & risk

ROIC (est.)-7.0%
Free cash flow-$20.9M
Total debt$5.83M
Net cash$33.7M
Altman Z-Score16.91 safe
Piotroski F-Score3/8

Capital returns

Buyback yield14.2%
Dividend yield (est.)—
Shareholder yield14.2%
Shares Δ YoY+4978.5%

Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.

Disclosure timeline

SEC · 8-Ks + reports
Red flag in recent filings — delisting notice (2026-06-23). Worth a closer look.
  1. 8-K Delisting notice2026-06-23
  2. 8-K Officer / director change2026-06-12
  3. 8-K Earnings results2026-05-12
  4. 10-Q Quarterly report2026-05-12
  5. DEF 14A Proxy statement2026-04-30
  6. 8-K Officer / director change2026-04-16
  7. 8-K/A Amended 8-K2026-04-02
  8. 8-K Earnings results2026-03-31
  9. 10-K Annual report2026-03-31

Recent filings

all on EDGAR ↗
8-KPeriod ending 2026-06-182026-06-23open ↗8-KPeriod ending 2026-06-092026-06-12open ↗4Period ending 2026-05-152026-05-15open ↗4/APeriod ending 2026-05-142026-05-15open ↗4/APeriod ending 2026-05-142026-05-15open ↗4Period ending 2026-05-142026-05-15open ↗4Period ending 2026-05-142026-05-14open ↗4Period ending 2026-05-142026-05-14open ↗10-QPeriod ending 2026-03-312026-05-12open ↗8-KPeriod ending 2026-05-122026-05-12open ↗3Period ending 2026-05-042026-05-11open ↗4Period ending 2026-04-292026-05-01open ↗

Quality score

D
ValueGrowthProfitHealthMom.
ValueF
GrowthC
ProfitabilityF
Financial healthB-
Momentum—
  • ✓Revenue growing year-over-year
  • ✗Profitable (positive net income)
  • ✗Net margin above 10%
  • ✗Return on equity above 15%
  • ✓Liabilities below 2× equity
Revenue
$12.8M
+1327.8% YoY
Net margin
-1161.9%
ROE
-36.5%
P/E
—

SEC fundamentals · FY 2025

'21'22'23'24'25

■ revenue · ■ net income, by fiscal year

Revenue$12.8M+1327.8%
Net income-$148M-1337.5%
Gross profit$6.12M+1.7%
Operating income-$36.4M-213.0%
Diluted EPS-$5.96+69.2%
Cash & equivalents$39.5M+418.5%
Total assets$411M+1892.6%
Total liabilities$4.77M+3.4%
Stockholders' equity$406M+2408.9%
Gross: 47.9%Op.: -285.2%L/E: 0.01x

Frequently asked

Is TON Strategy Co (TONX) a buy?
TONX currently carries a Hold rating with 2/5 conviction, derived from its latest SEC filings. Revenue grew 1327.8% YoY; but unprofitable (net margin -1161.9%).
What is TON Strategy Co's quality score?
TONX scores 44.29411764705882/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.

Sources: SEC EDGAR (CIK 0001566610, latest 10-Q filed 2026-05-12) · EODHD · as of 6/26/2026, 6:45:00 PM.

Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.

Insider activity

Form 4 · SEC

Last 90 days: 4 open-market buys · 0 sales

2026-05-15
Marbach Mary
General Counsel/Corp Secretary
Buy1.60K @ $3.52$5.63K
2026-05-14
Sohn Evan
Director
Buy2.77K @ $3.59$9.93K
2026-05-14
Wilson Kevin Mark
Chief Executive Officer
Buy8.02K @ $3.66$29.4K
2026-05-14
Olsen Sarah Josephine
CFO & COO
Buy7.44K @ $3.62$26.9K
2026-04-29
Sohn Evan
Director
Disposed (J)12.1K
2026-04-29
Olsen Sarah Josephine
CFO & COO
Disposed (J)38.0K
2026-04-29
Olsen Sarah Josephine
CFO & COO
Disposed (J)632K
2026-04-29
Marbach Mary
General Counsel/Corp Secretary
Disposed (J)312K
2026-04-29
Highfield Tucker Montana
Director
Disposed (J)12.1K

Earnings history

beat/miss · move
2026-05-12Beat +96.5% est▲ +4.20%8-K ↗
2026-03-31Beat +96.5% est▲ +0.82%8-K ↗
2025-11-12Beat +49.9% est▲ +14.29%8-K ↗
2023-12-15—▲ +10.62%8-K ↗
2022-11-18—▲ +3.03%8-K ↗
2022-08-18—▲ +1.43%8-K ↗

Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.

Recent news

market news →
Ton Strategy (TONX) Q4 2025 Earnings TranscriptBullish
nasdaq.com· 2026-06-01
TON Strategy Co. Q1 2026 Earnings Call SummaryBullish
finance.yahoo.com· 2026-05-12
Ton Strategy (TONX) Q1 2026 Earnings TranscriptBullish
finance.yahoo.com· 2026-05-12
Here are the major earnings before the open TuesdayBearish
seekingalpha.com· 2026-05-11
AlphaTON Capital Rebrands to Alpha Compute, Expands AI Computing BusinessBullish
finance.yahoo.com· 2026-04-20
TON Strategy Co. Q4 2025 Earnings Call SummaryBullish
finance.yahoo.com· 2026-04-01

Vs tracked universe

compare →

1044 tracked peers · median

EDGAR Score44 vs 67
Revenue growth1327.8% vs 7.1%
Net margin-1161.9% vs 10.5%
Return on equity-36.5% vs 12.3%
P/E— vs 25.5

News sentiment

EODHD · 3d
Bearish
-0.23
vs typical · 4 articles
↑ improving

Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.