TON Strategy Co

TONX

TON Strategy Co

TONX

Insider Sentiment (TTM):

Last Purchase:2026-05-15Last Sale:2025-12-16Shares Purchased (TTM):89,830Shares Sold (TTM):457,067

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:15,442,162Shares Outstanding:58,208,613Institutional Ownership Pct.:26.53%

Earnings Market Reaction:

Filing Date:2026-08-11Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Restricted Cash Current	-	-	-	-	-	1	-	-	-	-	-	-
Cash	-	-	-	53	4	6	8	11	17	14	4	1
Cash And Cash Equivalents At Carrying Value	29	35	39	-	-	-	8	-	-	-	-	-
Assets Current
Assets Current	32	37	42	58	12	14	16	16	18	14	5	1
Restricted Cash	0	0	0	1	1	-	1	-	-	-	-	-
Accounts Receivable Net	-	0	0	1	1	1	0	-	-	-	-	-
Short Term Investments	-	-	-	-	5	5	5	5	-	-	-	-
Other Assets Current	-	-	-	0	-	-	-	-	-	-	-	-
Prepaid Expense And Other Assets Current	-	1	2	2	0	0	0	0	0	0	0	0
Capitalized Software Development Costs For Softwar…	-	-	-	-	-	-	-	-	-	-	-	5
Capitalized Computer Software Net	-	-	-	-	3	3	3	3	3	4	4	-
Intangible Assets Net Excluding Goodwill	0	0	0	1	1	0	0	0	0	0	0	0
Goodwill	-	5	5	5	5	-	-	-	-	-	-	-
Accounts Receivable Net Noncurrent	-	-	-	-	1	-	-	2	2	2	2	2
Property Plant And Equipment Net	-	-	0	-	0	0	0	0	0	0	0	0
Operating Lease Right Of Use Asset	-	-	0	-	0	0	0	0	0	0	0	0
Other Assets Noncurrent	-	7	6	7	0	0	0	0	0	0	0	0
Assets	404	322	411	662	24	18	21	22	24	20	11	8
Liabilities And Stockhold…
Equity Securities F V N I Noncurrent	-	-	-	-	1	0	-	-	-	-	-	-
Embedded Derivative Fair Value Of Embedded Derivat…	-	-	-	-	0	-	-	-	-	-	-	-
Accounts Payable Current	-	-	-	4	0	1	1	1	1	1	1	3
Accrued Liabilities Current	1	1	1	2	2	2	2	2	2	3	2	2
Contract With Customer Liability Current	-	0	0	0	0	0	0	-	-	-	-	-
Liabilities Current
Liabilities Current	5	5	5	8	4	4	4	4	4	6	7	8
Accrued Payroll Taxes Current	-	0	1	1	0	0	0	0	0	0	0	-
Accrued Salaries Current	1	1	0	0	0	-	1	-	-	1	1	1
Liabilities Noncurrent
Notes Payable Current	-	-	-	-	-	-	0	0	0	1	2	-
Interest Payable Current	-	-	-	-	-	-	-	-	-	0	1	-
Operating Lease Liability Current	0	0	0	0	0	0	0	0	0	0	0	0
Dividends Payable Current And Noncurrent	-	-	-	-	-	-	-	0	0	0	-	-
Derivative Liabilities Current	-	-	-	-	-	-	-	-	-	0	0	0
Dividends Payable Current	-	-	-	-	0	-	-	-	-	-	-	-
Business Combination Contingent Consideration Liab…	-	-	1	1	-	-	-	-	-	-	-	-
Long Term Notes Payable	-	-	-	-	-	-	0	0	0	0	0	0
Business Combination Contingent Consideration Liab…	-	-	0	0	1	-	-	-	-	-	-	-
Deferred Income Tax Liabilities Net	-	-	-	14	-	-	-	-	-	-	-	-
Operating Lease Liability Noncurrent	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities	5	5	5	22	4	4	5	4	4	6	8	9
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital	750	744	743	748	206	204	203	201	199	190	176	172
Stockholders Equity
Stockholders Equity	399	317	406	639	19	15	16	18	20	14	3	-1
Retained Earnings Accumulated Deficit	-351	-428	-337	-109	-192	-190	-187	-184	-181	-179	-176	-173
Minority Interest	-0	-0	-0	0	-0	-0	-0	-	-	-	-	-
Liabilities And Stockholders Equity	404	322	411	662	24	18	21	22	24	20	11	8
Allowance For Doubtful Accounts Receivable	-	0	0	0	0	0	0	-	-	-	0	-
Other Receivable Allowance For Credit Loss Noncurr…	0	0	-	-	-	-	-	-	-	-	-	-
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	400	400	400	400	400	200	400	400	400	200	400	400
Common Stock Shares Issued	57	57	57	59	1	1	1	1	1	0	106	0
Shares Outstanding	57	57	57	59	1	1	1	1	1	0	106	0

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10‑Q10‑K

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-10.37%	-17.00%	-10.66%	-	-	-	-	-	-	-	-	-
2025	46.25%	32.65%	54.89%	-26.21%	-64.68%	-79.90%	-15.00%	-33.06%	-27.50%	-3.64%	59.51%	35.63%
2024	25.00%	-6.06%	-31.82%	-1.39%	-31.94%	-26.94%	-7.74%	-35.36%	-39.08%	-23.22%	16.45%	29.80%
2023	-	-	-	58.18%	-35.45%	-76.73%	-16.23%	-38.16%	-35.09%	-42.42%	-43.94%	-54.55%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	6.39	7.42	9.23	7.48	3.34	3.91	3.84	4.05	4.52	2.35	0.65	0.16
Quick Ratio	6.39	7.17	8.90	7.16	3.28	3.84	3.78	3.99	4.42	2.30	0.61	0.11
Working Capital	26.74M	32.33M	37.78M	50.62M	8.33M	10.61M	12.17M	11.92M	13.68M	8.33M	-2.50M	-7.14M
Leverage & Debt
Debt to Equity	0.01	0.02	0.01	0.04	0.22	0.26	0.29	0.23	0.21	0.46	2.47	-12.28
Interest Coverage TTM	-	-	-36,442.00	-14,669.50	-3,314.33	-852.77	-49.13	-24.82	-18.25	-13.59	-11.56	-12.09
Debt Ratio	0.01	0.02	0.01	0.03	0.18	0.21	0.22	0.19	0.17	0.31	0.71	1.09
Efficiency & Turnover
Asset Turnover TTM	0.14	0.10	0.06	0.02	0.18	0.11	0.06	0.01	0.01	0.00	0.00	-0.24
Per Share Metrics
Diluted EPS TTM	-2.71	-4.09	-5.96	2.03	-8.04	-10.31	-19.36	-14.36	-22.27	-128.43	-651.80	-1,301.98
Free Cash Flow Per Share TTM	-0.38	-0.42	-0.83	-0.40	-5.23	-7.86	-15.37	-12.98	-17.55	-52.89	-262.60	-377.25
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	-	-	-	-	-	-	-	-	-	723.53%	2,819.05%	-86.76%
Operating Profit Margin TTM	-121.28%	-225.19%	-285.17%	-378.08%	-232.37%	-505.52%	-1,301.01%	-5,445.77%	-11,788.24%	-18,948.53%	-21,896.83%	237.26%
Net Profit Margin TTM	-536.75%	-1,423.48%	-1,170.91%	974.39%	-258.73%	-479.53%	-1,281.79%	-5,073.13%	-11,706.86%	-29,411.76%	-35,171.43%	698.65%
Growth Metrics
Net Revenue Growth (1Y)	592.29%	662.75%	1,327.82%	3,760.70%	4,095.10%	3,125.00%	1,320.63%	-103.98%	-102.01%	-102.54%	687.50%	-164.76%
Net Income Growth (1Y)	1,336.20%	2,164.22%	1,204.31%	-841.52%	-7.29%	-47.42%	-48.23%	-71.10%	-69.85%	-44.64%	-40.81%	29.44%
EPS Growth (1Y)	-66.02%	-60.33%	-69.22%	-114.13%	-63.90%	-91.97%	-97.03%	-98.90%	-98.87%	-93.64%	-78.87%	-39.04%
Valuation Metrics
P/E TTM	-0.93	-0.60	-0.33	3.47	-0.85	-0.45	-0.34	-0.67	-1.11	-0.41	-0.05	-0.11
P/B TTM	0.37	0.45	0.12	0.41	0.49	0.33	0.24	0.38	0.67	0.59	0.37	-5.31
P/S TTM	5.01	8.60	3.91	33.80	2.21	2.17	4.33	33.92	130.39	121.37	18.56	-0.75
Market Cap	148.43M	143.78M	49.97M	262.33M	9.45M	4.76M	3.87M	6.82M	13.30M	8.25M	1.17M	3.79M
Enterprise Value	119.63M	108.99M	10.47M	209.29M	5.10M	-1.51M	-3.62M	-3.57M	-3.77M	-4.79M	-1.03M	3.02M
Calculated Values
Free Cash Flow TTM	-22.15M	-24.42M	-20.86M	-14.88M	-7.20M	-8.01M	-9.11M	-9.22M	-9.41M	-8.24M	-8.93M	-10.23M
Net Debt	-28.81M	-34.78M	-39.49M	-53.04M	-4.35M	-6.28M	-7.50M	-10.39M	-17.07M	-13.05M	-2.20M	-776.00K
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-15Purchase

Owner: Marbach, Mary

Title: General Counsel/Corp Secretary

Shares: 1,600

Price/Share: $3.52

Value: $5,632.00

Shares Owned: 1,600

Relationship: Officer

Ownership: Direct

2026-05-14Purchase

Owner: Wilson, Kevin Mark

Title: Chief Executive Officer

Shares: 8,020

Price/Share: $3.66

Value: $29,353.20

Shares Owned: 8,020

Relationship: Officer

Ownership: Direct

2026-05-14Purchase

Owner: Sohn, Evan

Title: -

Shares: 2,770

Price/Share: $3.59

Value: $9,944.30

Shares Owned: 5,399

Relationship: Director

Ownership: Direct

2026-05-14Purchase

Owner: Olsen, Sarah Josephine

Title: CFO & COO

Shares: 7,440

Price/Share: $3.62

Value: $26,932.80

Shares Owned: 7,440

Relationship: Officer

Ownership: Direct

2025-12-16Sale

Owner: Cutaia, Rory J.

Title: -

Shares: 54,494

Price/Share: $2.53

Value: $137,869.82

Shares Owned: 12,506

Relationship: Director

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-15	Marbach, Mary	Officer	General Counsel/Corp Secretary	Direct	Purchase	1,600	3.52	$5,632.00	1,600	4
2026-05-14	Wilson, Kevin Mark	Officer	Chief Executive Officer	Direct	Purchase	8,020	3.66	$29,353.20	8,020	4/A
2026-05-14	Sohn, Evan	Director	-	Direct	Purchase	2,770	3.59	$9,944.30	5,399	4/A
2026-05-14	Olsen, Sarah Josephine	Officer	CFO & COO	Direct	Purchase	7,440	3.62	$26,932.80	7,440	4
2025-12-16	Cutaia, Rory J.	Director	-	Direct	Sale	54,494	2.53	$137,869.82	12,506	4
2025-12-12	Cutaia, Rory J.	Director	-	Direct	Sale	38,579	2.79	$107,635.41	101,132	4
2025-12-05	Cutaia, Rory J.	Director	-	Direct	Sale	15,100	3.10	$46,810.00	252,581	4/A
2025-12-02	Cutaia, Rory J.	Director	-	Direct	Sale	107,723	3.08	$331,786.84	331,181	4
2025-11-26	Cutaia, Rory J.	Director	-	Direct	Sale	241,171	3.10	$747,630.10	508,930	4
2025-09-29	Stotz, Manuel	Director,TenPercentOwner	-	Indirect	Purchase	70,000	7.11	$497,700.00	2,297,678	4
2024-10-23	Corsair, Capital Manageme…	TenPercentOwner	-	Indirect	Purchase	10,848	11.03	$119,653.44	84,031	4
2024-10-21	Corsair, Capital Manageme…	TenPercentOwner	-	Indirect	Sale	3,700	9.58	$35,446.00	2,140	4
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Institutional Ownership

No data available for chart

2026-03-31

26.53%

Inst. Shares: 15,442,162

Shares Outstanding: 58,208,613

2025-12-31

54.31%

Inst. Shares: 13,637,079

Shares Outstanding: 25,109,082

2025-09-30

45.98%

Inst. Shares: 17,133,607

Shares Outstanding: 37,262,322

2025-06-30

3.44%

Inst. Shares: 47,424

Shares Outstanding: 1,377,153

2025-03-31

1.62%

Inst. Shares: 16,562

Shares Outstanding: 1,019,801

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	15,442,162	58,208,613	26.53%
2025-12-31	13,637,079	25,109,082	54.31%
2025-09-30	17,133,607	37,262,322	45.98%
2025-06-30	47,424	1,377,153	3.44%
2025-03-31	16,562	1,019,801	1.62%
2024-12-31	34,387	592,478	5.80%
2024-09-30	15,854	710,106	2.23%
2024-06-30	2,229,581	536,271	-
2024-03-31	347,504	155,721	223.16%
2023-12-31	325,448	33,995	-
2023-09-30	170,012	27,104	-
2023-06-30	222,088	20,115	-
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TON Strategy Co (TONX) — SEC Financial Statements & Analysis

TON Strategy Co (TONX) is a finance services company, incorporated in NV. TON Strategy Co trades on Nasdaq as: TONX. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), TON Strategy Co reported a 592.29% year-over-year revenue growth, a Gross Profit Margin of 723.53% (TTM), a Debt-to-Equity ratio of 0.01x, a Price-to-Sales (P/S) ratio of 5.01x (TTM), a Price-to-Book (P/B) ratio of 0.37x (TTM), at a market cap of $148.43M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 592.29%
Gross Profit Margin TTM: 723.53%
Debt To Equity: 0.01x
P/S TTM: 5.01x
P/B TTM: 0.37x
Market Cap: $148.43M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is TON Strategy Co in?

TON Strategy Co (TONX) operates in the Finance Services industry.

What is TONX's market cap?

TON Strategy Co (TONX) has a market capitalization of $148.43M as of 2026-06-30.

What exchange does TONX trade on?

TON Strategy Co (TONX) trades on the Nasdaq.

Where is TON Strategy Co incorporated?

TON Strategy Co is incorporated in NV.

TON Strategy Co

Financial Statements

Custom Table

Interactive Financial Visualizations

Earnings Market Reaction

Performance and Valuation Metrics

Insider Transactions

Institutional Ownership

TON Strategy Co (TONX) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Finance Services

Wall Street's data.
Main Street's price.

TON Strategy Co (TONX) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Finance Services

Wall Street's data.Main Street's price.

Wall Street's data.
Main Street's price.