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Marblegate Capital vs TON Strategy: MGTE and TONX compared
Marblegate Capital is the larger company: $16.7M of revenue in its latest quarter (Q2 2026) against $15.0M for TON Strategy (Q2 2026). TON Strategy is growing faster (+607% against -6% a year earlier). TON Strategy is more profitable, with an operating margin of 3.2% against -25.8%.
Where the money goes: MGTE and TONX
Marblegate Capital (MGTE) · Q2 2026
Marblegate Capital, Q2 2026: revenue $16.7M (-6% year over year), operating margin -25.8%, net loss $4.8M, operating cash flow −$5.2M. The chart follows the revenue to costs, profit and cash.
TON Strategy (TONX) · Q2 2026
TON Strategy, Q2 2026: revenue $15.0M (+607% year over year), operating margin 3.2%, net earnings $76.8M. The chart follows the revenue to costs, profit and cash.
| Marblegate Capital (MGTE) | TON Strategy (TONX) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $16.7M | $15.0M |
| Revenue growth, Y/Y | -6% | +607% |
| Gross margin | — | 94.9% |
| Operating margin | -25.8% | 3.2% |
| Net earnings | −$4.8M | $76.8M |
| Net margin | -28.7% | 511.0% |
| Operating cash flow | −$5.2M | — |
Questions
Which is bigger, Marblegate Capital or TON Strategy?
Marblegate Capital is the larger company: $16.7M of revenue in its latest quarter (Q2 2026) against $15.0M for TON Strategy (Q2 2026).
Is Marblegate Capital or TON Strategy growing faster?
TON Strategy is growing faster (+607% against -6% a year earlier).
Which is more profitable, Marblegate Capital or TON Strategy?
TON Strategy is more profitable, with an operating margin of 3.2% against -25.8%.
More: Marblegate Capital earnings · how Marblegate Capital makes money · TON Strategy earnings · how TON Strategy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-Q filed Aug 11, 2026). Fiscal quarters can end on different dates. Not investment advice.