Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $6.00K | $32.0K | $9.10M | $9.96M | $10.5M | $8.00K | $63.0K | $895K | $12.8M |
| Revenue growth | — | — | 433.3% | 28337.5% | 9.5% | 5.6% | -99.9% | 687.5% | 1320.6% | 1327.8% |
| Gross profit | — | — | -$20.0K | $4.23M | $5.16M | $6.02M | $6.12M | — | — | — |
| Gross margin | — | — | -62.5% | 46.5% | 51.8% | 57.2% | 76550.0% | — | — | — |
| Operating income | -$3.13M | -$4.71M | -$7.79M | -$15.8M | -$24.7M | -$33.7M | -$18.9M | -$13.8M | -$11.6M | -$36.4M |
| Operating margin | — | -78416.7% | -24350.0% | -174.0% | -248.2% | -320.3% | -235925.0% | -21896.8% | -1301.0% | -285.2% |
| Net income | -$4.27M | -$7.27M | -$12.1M | -$15.9M | -$25.0M | -$34.5M | -$37.4M | -$22.0M | -$10.3M | -$148M |
| Net margin | — | -121100.0% | -37896.9% | -174.9% | -250.4% | -327.7% | -467962.5% | -34911.1% | -1154.1% | -1161.9% |
| EPS (diluted) | -$0.05 | -$1.03 | -$1.23 | -$0.79 | -$0.80 | -$0.55 | -$6.68 | -$441.48 | -$19.36 | -$5.96 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.60M | -$1.68M | -$4.16M | -$8.12M | -$16.3M | -$25.9M | -$19.4M | -$8.74M | -$8.77M | -$20.8M |
| Capital expenditures | $2.49K | — | — | $146K | $317K | $26.0K | $20.0K | $32.0K | $342K | $88.0K |
| Free cash flow | $1.60M | — | — | -$8.26M | -$16.6M | -$25.9M | -$19.4M | -$8.77M | -$9.11M | -$20.9M |
| Share buybacks | $166K | — | $20.0K | — | — | — | — | — | — | $20.6M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $16.8K | $11.0K | $634K | $983K | $1.81M | $937K | $2.43M | — | $7.62M | $39.5M |
| Total assets | $104K | $92.0K | $898K | $28.4M | $32.5M | $34.4M | $24.5M | $10.8M | $20.6M | $411M |
| Total liabilities | $3.57M | $5.88M | $5.95M | $16.9M | $21.8M | $21.1M | $19.3M | $7.71M | $4.61M | $4.77M |
| Shareholders' equity | -$3.47M | -$5.79M | -$5.05M | $11.4M | $10.7M | $13.3M | $5.17M | $3.13M | $16.2M | $406M |
| Retained earnings | -$21.3M | -$28.5M | -$40.7M | -$56.6M | -$81.5M | -$116M | -$153M | -$176M | -$187M | -$337M |
| Shares (wtd avg diluted) | 94.7M | 7.94M | 12.1M | 24.5M | 47.8M | 63.3M | 2.43M | 34.0B | 592K | 25.1M |
Every figure is extracted from TON Strategy Co’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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