Ton Strategy (TONX) Q4 2025 Earnings Transcript

TON Strategy Company reported Q4 2025 results showing total revenue of $12.8 million (including $4 million from staking activities) and gross profit of $7.6 million, but posted a net loss of $148.6 million primarily due to $114.2 million in unrealized losses on Toncoin holdings. The company holds $356.8 million in digital assets and has 219.7 million tons staked as of year-end. Management emphasized the company's role as a NASDAQ-listed vehicle for TON exposure and highlighted disciplined treasury management, while the CEO search for a permanent replacement continues.