TON Strategy Company Reports Third Quarter 2025 Financial Results and Provides Update on TON Treasury Strategy

Core Insights - TON Strategy Company reported significant growth in revenue and net income for Q3 2025, marking a successful operational launch of its TON Treasury Strategy [5][6][7] Financial Performance - Revenue for Q3 2025 reached $3.6 million, a substantial increase from $0.1 million in Q3 2024, with $707,000 generated from staking activities [5] - Gross profit was $2.7 million, representing 75.4% of revenue, compared to $74,000 (57.8% of revenue) in Q3 2024 [5] - Total costs and expenses surged to $25.3 million from $2.4 million in Q3 2024, primarily due to non-cash stock-based compensation and treasury implementation costs [5] - The net gain on crypto assets was $120.4 million, with net income reported at $84.7 million, a significant turnaround from a net loss of $2.0 million in Q3 2024 [6] Treasury Operations - The company acquired 217.5 million units of $TON and staked 177.1 million units as of September 30, 2025, earning 336,000 units in staking rewards [8] - Digital assets held had a fair value of $588.2 million, with cash and restricted cash totaling $53.9 million [6][8] - The company initiated its TON Treasury Strategy in August 2025, utilizing proceeds from a $558 million private placement to acquire $TON and commence staking [3][10] Strategic Initiatives - The company aims to build a differentiated public company aligned with the expansion of The Open Network by holding and staking $TON over a long-term horizon [7] - A stock buyback program of up to $250 million was approved, with 1,984,072 shares repurchased at prices below book value [8] - The company rebranded as TON Strategy Company and began trading on Nasdaq under the ticker TONX on September 2, 2025 [8]