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TON Strategy vs ZeroStack: TONX and ZSTK compared
TON Strategy is the larger company: $15.0M of revenue in its latest quarter (Q2 2026) against $13.7M for ZeroStack (Q2 2026). TON Strategy is growing faster (+607% against +41% a year earlier). TON Strategy is more profitable, with an operating margin of 3.2% against -177.4%.
Where the money goes: TONX and ZSTK
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.
ZeroStack (ZSTK) · Q2 2026
ZeroStack, Q2 2026: revenue $13.7M (+41% year over year), operating margin -177.4%, net loss $24.6M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
| TON Strategy (TONX) | ZeroStack (ZSTK) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $15.0M | $13.7M |
| Revenue growth, Y/Y | +607% | +41% |
| Gross margin | 94.9% | — |
| Operating margin | 3.2% | -177.4% |
| Net earnings | $76.8M | −$24.6M |
| Net margin | 511.0% | -180.2% |
| Operating cash flow | — | $1.4M |
Questions
Which is bigger, TON Strategy or ZeroStack?
TON Strategy is the larger company: $15.0M of revenue in its latest quarter (Q2 2026) against $13.7M for ZeroStack (Q2 2026).
Is TON Strategy or ZeroStack growing faster?
TON Strategy is growing faster (+607% against +41% a year earlier).
Which is more profitable, TON Strategy or ZeroStack?
TON Strategy is more profitable, with an operating margin of 3.2% against -177.4%.
More: TON Strategy earnings · how TON Strategy makes money · ZeroStack earnings · how ZeroStack makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Jul 31, 2026). Fiscal quarters can end on different dates. Not investment advice.