Filing Flows › TON Strategy (TONX) › Q2 2025
TON Strategy (TONX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
TON Strategy (TONX) reported revenue of $2.1M for the second quarter 2025 (Q2 2025), up 57-fold from a year earlier and +63% from the quarter before. Operating margin was -138.2%, net loss $2.4M (110.8% of revenue).
TON Strategy, Q2 2025: revenue $2.1M (57× year over year), operating margin -138.2%, net loss $2.4M, operating cash flow −$2.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.1M | +63% | 57× |
| Operating profit | −$2.9M | — | — |
| Net earnings | −$2.4M | — | — |
| Operating cash flow | −$2.3M | — | — |
What changed
Revenue was $2.1M in Q2 2025, up 5638% year over year and up 63% from the previous quarter. Go Fund Yourself was the largest line at 68% of revenue. Market Live added $651K year over year (up 1759%), 31% of the total change.
Operating costs exceeded revenue by $2.9M, an operating margin of -138.2%. Total costs grew 107% against revenue growth of 5638%. The fastest-growing cost line was Cost of revenue (+1871%). The quarter ended with a net loss of $2.4M, narrower than the previous quarter's $2.4M loss.
Operating cash flow was −$2.3M. Non-cash charges added back $336K of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $1.8M. Capital expenditures of $2K exceeded it, leaving free cash flow of −$2.3M.
Questions
What was TON Strategy's revenue in the second quarter 2025?
TON Strategy (TONX) reported revenue of $2.1M for the second quarter 2025 (Q2 2025), up 57-fold from a year earlier and +63% from the quarter before.
Was TON Strategy profitable in the second quarter 2025?
Operating loss was $2.9M (-138.2% of revenue) and net loss $2.4M.
Source: TON Strategy 10-Q on SEC EDGAR.