TON Strategy (TONX) Cost of Revenue (2018 - 2026)
TON Strategy's Cost of Revenue came in at $1.3 million for Q1 2026, up 117.4% from $596,000 a year earlier but down 36.7% from the prior quarter.
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Analysis
TON Strategy (TONX) Cost of Revenue (2018 - 2026) Analysis & Trends
Over the trailing twelve months to Mar 31, 2026, TON Strategy reported Cost of Revenue of $4.84 million, up 494.2% year-over-year; for FY2025, it came in at $3.89 million.
- Cost of Revenue carries a five-year compound annual growth rate of -4.1% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $224,000 in FY2024, $19,000 in FY2023 (+533.3%), $3,000 in FY2022 (-99.9%) and $4.5 million in FY2021 (-6.2%).
- The five-year range for quarterly Cost of Revenue is $1,000 (Q3 2022) to $2.05 million (Q4 2025).
- The fastest year-over-year change in Cost of Revenue over five years came in Q3 2024 (growth of 980.0%), and the weakest in Q3 2022 (a decline of 99.9%).
- Business Quant data shows TONX's Cost of Revenue at $2.05 million (Q4 2025), $888,000 (Q3 2025) and $611,000 (Q2 2025) in the three quarters before Q1 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | - |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | - |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 3.45 Bn |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 33.34 Mn |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | - |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 2.40 Bn |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 1.29 Bn |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 5.73 Mn |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 141.41 Mn |
| 10 | TON Strategy | 201.81 Mn | 62.91 Mn | 3.96 Mn | 1.30 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 1.30 Mn |
| Dec 31, 2025 | 2.05 Mn |
| Sep 30, 2025 | 888,000.00 |
| Jun 30, 2025 | 611,000.00 |
| Mar 31, 2025 | 596,000.00 |
| Dec 31, 2024 | 134,000.00 |
| Sep 30, 2024 | 54,000.00 |
| Jun 30, 2024 | 31,000.00 |
| Mar 31, 2024 | 5,000.00 |
| Dec 31, 2023 | 12,000.00 |
| Sep 30, 2023 | 5,000.00 |
| Jun 30, 2023 | 1,000.00 |
| Mar 31, 2023 | 1,000.00 |
| Dec 31, 2022 | 2,000.00 |
| Sep 30, 2022 | 1,000.00 |
| Jun 30, 2022 | 835,000.00 |
| Mar 31, 2022 | 973,000.00 |
| Dec 31, 2021 | 1.08 Mn |
| Sep 30, 2021 | 1.09 Mn |
| Jun 30, 2021 | 1.12 Mn |
API Access
TON Strategy Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TONX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "TONX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=TONX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();