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TON Strategy (TONX) investor relations material
TON Strategy Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q2 2025 surged 5,638% year-over-year to $2.1M, driven by MARKET.live and Go Fund Yourself units, with Go Fund Yourself launching in July 2024.
Net loss attributable to common stockholders was $2.5M for Q2 2025, compared to $1.8M in Q2 2024, reflecting higher operating expenses and expansion costs.
The company completed the acquisition of Lyvecom in April 2025, integrating AI-driven video commerce into MARKET.live.
A $558M PIPE financing was announced in August 2025 to fund a new TON treasury strategy, making Toncoin the primary treasury reserve asset.
All outstanding Series D Preferred Stock was redeemed in August 2025 for $6.15M, including accrued dividends.
Financial highlights
Q2 2025 revenue: $2.1M (Q2 2024: $37K); six months ended June 30, 2025: $3.4M (2024: $44K).
Q2 2025 net loss: $2.4M; six months net loss: $4.9M.
Operating loss for Q2 2025: $2.9M, up from $2.4M in Q2 2024.
Cash and restricted cash at June 30, 2025: $5.2M; short-term investments: $5.1M.
Modified EBITDA for Q2 2025: $(942)K; six months: $(1.98)M.
Outlook and guidance
The TON treasury strategy is expected to make the company one of the largest holders of Toncoin, generating sustainable staking rewards.
The company plans to rebrand as TON Strategy Co. and continue expanding existing business operations.
Proceeds from PIPE financing will be used to purchase Toncoin and for working capital.
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