Reading the annual reports…
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TONX · Nasdaq · United States · Finance Services
In shortTON Strategy Co is loss-making.
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it. Bank or insurer: tests that do not apply to them are left out.
| Operating marginShare of each sale left after running the business, before interest and tax. | -285.2% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -1161.9% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -70.3% | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -163.2% | n/a |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | n/a |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 687.1% | 0/100 |
| Operating margin volatility | 103259.6% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1069.0% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 11 | 0 | 0.1 | 0.9 | 13 |
| Cost of revenue | 4.5 | 3.3 | 0 | 0.2 | 3.9 |
| Gross profit | 6 | 6.1 | 0 | 0.7 | 8.9 |
| Research & development | 12 | 5.2 | – | – | – |
| Operating income | (34) | (19) | (14) | (12) | (36) |
| Interest expense | 2.6 | 1.4 | 1.2 | 0.2 | 0 |
| Pre-tax income | (34) | – | – | (11) | (149) |
| Income tax | 0 | – | – | – | (0.2) |
| Net income | (34) | (37) | (22) | (10) | (148) |
| Diluted EPS | −$0.55 | −$6.68 | −$441.48 | −$19.36 | −$5.96 |
| Diluted shares (millions) | 63 | 2.4 | 0 | 0.6 | 25 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of TON Strategy Co are included in the Investor plan. Try free for 7 days →
Not computed: the model does not apply to banks and insurers.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 11, 2026