SEC 8-K filings with transcript text
Aug 11, 2026
2 ex99-1.htm
Exhibit 99.1
TON Strategy Company Reports Second Quarter 2026 Financial Results
Generated $15.0 million of Gram staking revenue
Held approximately 230.5 million Gram at June 30, including approximately 229.9 million Gram deployed in staking
Executed primary actions expected to remove approximately $4.0 million of inherited annual cash operating costs
LAS VEGAS, NV — August 11, 2026 — TON Strategy Company (“TON Strategy” or the “Company”) (Nasdaq: TONX), a digital asset treasury company dedicated to supporting the TON ecosystem, today reported financial results for the second quarter ended June 30, 2026, and provided an update on recent operational and strategic developments.
Second Quarter and Recent Operational Highlights
●Held approximately 230.5 million units of Gram at June 30, 2026, including approximately 229.9 million units staked. Based on TonStat data as of August 4, 2026, the Company’s holdings represented approximately 4.4% of the total Gram supply, and its staked holdings represented approximately 35% of Gram staked across the network. The Company’s digital assets had a fair value of approximately $369.5 million as of June 30, 2026.
●Earned approximately 9.4 million units of Gram during the second quarter of 2026, up from approximately 2.2 million units during the first quarter and recognized approximately $15.0 million of staking revenue. The increase was primarily due to the TON network’s Catchain 2.0 consensus upgrade, which accelerated block production from approximately 2.5 seconds to 400 milliseconds, increasing validator reward issuance and resulting in higher network staking yields. The Company generated an annualized gross staking yield of approximately 17% during the quarter.
●Largely completed the actions required to discontinue the Company’s inherited legacy operations, including the termination of vendor agreements, reductions in contractor and personnel expenses, and the elimination of certain lower-margin service contracts. These actions are expected to remove approximately $4.0 million of annual cash operating costs from the Company’s existing cost base and allow management to direct its resources to the Gram treasury and selected opportunities within the TON ecosystem.
●Supported the community-approved rebrand of the TON blockchain’s native digital asset from Toncoin to Gram, with the ticker “GRAM,” which took effect June 8, 2026. The rebrand restores the asset’s original identity and better distinguishes the network from its native currency. It also comes as technical improvements expand TON’s capacity and potential utility, strengthening Gram’s role across the network.
●Supported TON network upgrades that materially improved the network’s speed, cost, and capacity. Shorter block and settlement times, greater throughput, and lower transaction fees strengthen TON’s ability to support high-volume applications across payments, Telegram-based services, and emerging AI-agent use cases.
●Terminated the Company’s Advisory Services Agreement with Kingsway Capital Partners Limited on August 10, 2026. The Company stopped making monthly payments under the agreement in March 2026.
Financial Results for the Second Quarter 2026
The Company’s financial results for the first and second quarters of 2026 reflect the operation of its Gram treasury strategy, including staking activities. The results of the Company’s legacy operating businesses are classified separately as discontinued operations.
Total revenue was $15.0 million, compared with $3.0 million during the first quarter of 2026. The sequential increase was driven by higher staking rewards generated by the Company’s Gram treasury.
Gross profit was $14.3 million, or 95% of revenue, compared with $2.8 million, or 95% of revenue, during the first quarter of 2026.
Total costs and expenses were $13.8 million, compared with $6.5 million during the first quarter of 2026. As part of resolving a historical equity plan issue, certain legacy restricted stock units were surrendered during the quarter. Under GAAP, this required the Company to recognize immediately the remaining $5.5 million of unrecognized compensation expense associated with those awards. The $5.5 million charge was noncash, had no effect on the Company’s cash flows or total stockholders’ equity, and is not representative of its ongoing operating cost base. The second quarter also included approximately $2.9 million of noncash expense associated with the one-time set-up fee under the Kingsway advisory agreement, primarily reflecting the write-off of the remaining prepaid asset following the termination of the agreement on August 10, 2026.
Operating income from continuing operations was $0.5 million, compared with an operating loss of $3.7 million as previously reported during the first quarter of 2026. The improvement primarily reflected the increase in high-margin staking revenue, and the Company generated positive operating income des
May 12, 2026
2 ex99-1.htm
Exhibit 99.1
TON Strategy Company Reports First Quarter 2026 Financial Results
LAS VEGAS, NV — May 12, 2026 — TON Strategy Company (“TON Strategy” or the “Company”) (Nasdaq: TONX), a digital asset treasury company dedicated to holding Toncoin ($TON), today reported financial results for the first quarter ended March 31, 2026 and provided an update on its TON treasury operations.
First Quarter and Recent Operational Highlights
●Held approximately 221.9 million units of $TON at March 31, 2026, including approximately 221.2 million units staked. Based on Tonstat data, the Company’s holdings represented approximately 4.29% of all Toncoin, and the Toncoin staked through its infrastructure represented approximately 26.18% of the network. Digital assets held at March 31, 2026 had a fair value of approximately $272.0 million.
●Earned approximately 2.2 million units of $TON during the first quarter of 2026, representing approximately $3.0 million of staking revenue.
●Appointed Kevin Wilson as Chief Executive Officer, effective May 4, 2026, to lead the Company’s next phase of execution.
●Supported recent TON network upgrades that reduced block times, shortened transaction settlement times, increased throughput, and lowered transaction fees, strengthening TON’s ability to support high-volume, low-cost applications across payments, Telegram-based services, developer tools, gaming, and emerging AI-agent use cases.
●Continued to operate with institutional custody and segregated staking infrastructure as part of an institutional approach to holding and staking Toncoin.
Financial Results for the First Quarter 2026
The Company’s financial results for the first quarter of 2026 reflect the operation of its TON treasury strategy, including staking activities, alongside its legacy operating businesses.
Total revenue was $5.3 million and included approximately $3.0 million from staking activities.
Gross profit was $4.0 million.
Total costs and expenses were $7.8 million, reflecting costs associated with treasury operations, personnel, reporting, compliance and the legacy operating businesses.
Loss from operations was $(3.9) million.
Net loss before income taxes was $(91.0) million. Net loss included an $(87.9) million unrealized net loss on crypto assets, reflecting fair value changes in Toncoin holdings during the quarter.
Digital assets held at March 31, 2026 had a fair value of approximately $272.0 million.
Cash and restricted cash totaled approximately $35.0 million at March 31, 2026. The Company had no debt on the balance sheet at March 31, 2026.
Subsequent Events
In April 2026, The Open Network implemented major upgrades to its execution and consensus infrastructure to improve network efficiency and validator performance. Through its staking infrastructure and provider relationships, the Company was well positioned to benefit from increased staking rewards, with gross staking yields rising to 1.39% in April 2026 from 0.34% in March 2026.
The April 2026 gross staking yield represented approximately a fourfold increase month-over-month and approximately 16.7% on an annualized basis.
The value of Toncoin also appreciated significantly in early May following the network upgrades, Telegram’s announcement that it plans to help drive TON ecosystem growth and infrastructure development, and broader strength across digital asset markets. For example, based on the value of Toncoin as of May 6, 2026, the 221.9 units of $TON held by the Company as of March 31, 2026 had an estimated fair value of approximately $433.3 million.
Management Commentary
Chief Executive Officer Kevin Wilson stated, “TON Strategy has important strengths in place, including our position as the largest public company treasury dedicated to Toncoin, active staking operations, a strong balance sheet, and the custody and reporting infrastructure needed to execute the strategy with transparency. As I step into my role as CEO, my focus is on translating that foundation into a better understood public company platform for Toncoin exposure and shareholder value.
“We will continue to manage the treasury through a long-term per-share value lens, with an emphasis on maintaining appropriate liquidity and evaluating capital allocation thoughtfully. We also see an opportunity to communicate more actively around the TON thesis and the TON Strategy model. Over time, we intend to prioritize pathways to support deeper liquidity and market access around Toncoin, while aligning our expenses and investment with the Company’s core treasury strategy, targeting highest return opportunities.
is becoming increasingly relevant as blockchain activity moves toward faster, lower-cost, high-volume use cases. Telegram gives TON a unique distribution advantage compared to most networks, and recent upgrades have improved the speed, costs, and usability needed to support payments, developer tools, Telegram-based applications, and emergin
Mar 31, 2026
2 ex99-1.htm
Exhibit 99.1
TON Strategy Company Reports Full Year 2025 Financial Results
LAS VEGAS, NV — March 31, 2026 — TON Strategy Company (“TON Strategy” or the “Company”) (Nasdaq: TONX), a digital asset treasury company dedicated to holding Toncoin ($TON), today reported financial results for the full year ended December 31, 2025 and provided an update on its TON treasury operations.
Fourth Quarter and Recent Operational Highlights
● Completed the first full quarter of staking operations following the August 2025 launch.
● Held approximately 219.7 million units of $TON at December 31, 2025, including approximately 219.7 million units staked, with a fair value of approximately $356.8 million.
● Earned approximately 2,185,286 units of $TON during 2025.
● Maintained institutional custody and staking infrastructure using segregated validator structures.
● Launched analytics dashboard to provide transparent access to key treasury and market metrics.
Financial Results for the Full Year 2025
The Company’s financial results for 2025 reflect the implementation of the TON treasury strategy beginning in August 2025, alongside its legacy operating businesses.
Total revenue was $12.8 million, compared to $0.9 million in 2024, and included approximately $4.0 million from staking activities.
Gross profit was $7.6 million, compared to $0.7 million in 2024.
Total costs and expenses were $49.2 million, compared with $12.5 million in 2024, reflecting increased non-cash stock-based compensation expense, treasury implementation costs, and the buildout of infrastructure to support custody, staking, financial reporting, and compliance.
Loss from operations was $(36.4) million, compared with $(11.6) million in 2024.
Net loss before income taxes was $(148.6) million, compared with $(10.5) million in 2024. Net loss included a $(114.2) million net loss on crypto assets, reflecting realized and unrealized fair value changes in Toncoin holdings during the year.
Digital assets held at December 31, 2025 had a fair value of approximately $356.8 million.
Cash and restricted cash totaled approximately $39.7 million at December 31, 2025.
Management Commentary
Executive Chairman Manuel Stotz stated, “TON Strategy is built to hold Toncoin, stake a substantial portion of the position, and increase $TON held per share over time inside a public company structure. 2025 was about getting the strategy in place. We raised capital, built our initial position, and began staking in August, with the fourth quarter representing the first full fiscal period of staking. We believe TON is a differentiated network in its design for real economic activity across payments, digital services, and consumer applications at scale. Our approach is to hold and stake the asset within a public company structure designed to provide transparency and access to that exposure.”
Chief Financial Officer Sarah Olsen added, “Over the past several months, we put in place the custody, validator, reporting, and risk framework needed to support our treasury strategy inside a public company. With that foundation in place, our emphasis is on disciplined treasury management, including staking a substantial portion of our position while preserving appropriate liquidity and financial flexibility.”
CEO Transition Update
As previously announced in January 2026, the Company is conducting a formal search for a permanent Chief Executive Officer as part of a planned leadership transition. The Board remains actively engaged in the process, and Veronika Kapustina continues to serve as our Chief Executive Officer during the transition period.
Conference Call
TON Strategy Company’s management will hold a conference call today (March 31, 2026) at 9:00 a.m. Eastern time to discuss these results.
dial-in: 1-877-407-0789
International dial-in: 1-201-689-8562
Conference
The conference call will be broadcast live and available for replay here and via the investor relations section of the Company’s website.
A replay of the call will be available on the investor relations section of the Company’s website after the conference call through April 14, 2026.
Toll-free
replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13759275
About TON Strategy Company
TON Strategy Company (Nasdaq: TONX) is focused on the accumulation of $TON – the native cryptocurrency of Telegram’s billion-user platform – for long-term investment, whether acquired through deployment of proceeds from capital raising activity, staking rewards or via open market purchases. The Company aims to steadily expand its $TON holdings, stake $TON, and support the development of a tokenized economy inside Telegram.
In addition, the Company continues to operate legacy business units, including MARKET.live, a multi-vendor livestream shopping platform, and LyveCom, an AI-powered social commerce innovator that enables brands and merchants to deliver
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