Filing Flows › TON Strategy (TONX) › Q1 2025
TON Strategy (TONX) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
TON Strategy (TONX) reported revenue of $1.3M for the first quarter 2025 (Q1 2025), up 186-fold from a year earlier and +80% from the quarter before. Operating margin was -203.8%, net loss $2.4M (186.8% of revenue).
TON Strategy, Q1 2025: revenue $1.3M (186× year over year), operating margin -203.8%, net loss $2.4M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3M | +80% | 186× |
| Operating profit | −$2.7M | — | — |
| Net earnings | −$2.4M | — | — |
| Operating cash flow | −$1.1M | — | — |
What changed
Revenue was $1.3M in Q1 2025, up 18543% year over year and up 80% from the previous quarter. Go Fund Yourself was the largest line at 57% of revenue. Market Live added $554K year over year (up 7914%), 43% of the total change.
Gross margin was 54.3%. Operating costs exceeded revenue by $2.7M, an operating margin of -203.8%. The fastest-growing cost line was General & admin (+12%). The quarter ended with a net loss of $2.4M, narrower than the previous quarter's $3.4M loss.
Operating cash flow was −$1.1M. Non-cash charges added back $286K of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $124K. Capital expenditures of $66K exceeded it, leaving free cash flow of −$1.1M.
Questions
What was TON Strategy's revenue in the first quarter 2025?
TON Strategy (TONX) reported revenue of $1.3M for the first quarter 2025 (Q1 2025), up 186-fold from a year earlier and +80% from the quarter before.
Was TON Strategy profitable in the first quarter 2025?
Operating loss was $2.7M (-203.8% of revenue) and net loss $2.4M.
Source: TON Strategy 10-Q on SEC EDGAR.