TON Strategy (TONX) Gross Margin (2018 - 2026)
TON Strategy (TONX) reported Gross Margin of 75.33% for Q1 2026, up 21.00 percentage points from 54.33% a year earlier and up 11.00 percentage points from the prior quarter.
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Analysis
TON Strategy (TONX) Gross Margin (2018 - 2026) Analysis & Trends
Over the twelve months ended Mar 31, 2026, TON Strategy's Gross Margin came in at 71.05%, up 8.21 percentage points year-over-year; for FY2025, it was 69.53%, down 5.44 percentage points from FY2024.
- Gross Margin has a five-year change of +17.71 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 74.97% in FY2024 (+5.13 pp), 69.84% in FY2023 (-76480.16 pp), 76550.00% in FY2022 (+76492.80 pp) and 57.20% in FY2021 (+5.38 pp).
- Five-year quarterly Gross Margin spans a low of 16.22% in Q2 2024 and a high of 122440.00% in Q4 2022.
- Year over year, Gross Margin gained in five of the last eight quarters, with an average year-over-year change of +6.21 percentage points.
- The high point for year-over-year Gross Margin in five years was Q4 2022 (a gain of 122380.06 percentage points); the low point was Q4 2023 (a drop of 122381.38 percentage points).
- Per Business Quant data, the three quarters before Q1 2026 came in at 64.33% (Q4 2025), 75.39% (Q3 2025) and 71.22% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | - |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | - |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 47.84% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | 75.71% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | - |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 54.74% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 61.04% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | 87.70% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 65.60% |
| 10 | TON Strategy | 224.99 Mn | 86.09 Mn | 3.96 Mn | 75.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 75.33% |
| Dec 31, 2025 | 64.33% |
| Sep 30, 2025 | 75.39% |
| Jun 30, 2025 | 71.22% |
| Mar 31, 2025 | 54.33% |
| Dec 31, 2024 | 81.47% |
| Sep 30, 2024 | 57.81% |
| Jun 30, 2024 | 16.22% |
| Mar 31, 2024 | 28.57% |
| Dec 31, 2023 | 58.62% |
| Sep 30, 2023 | 82.76% |
| Jun 30, 2023 | 66.67% |
| Mar 31, 2023 | 75,800.00% |
| Dec 31, 2022 | 122,440.00% |
| Sep 30, 2022 | 66.67% |
| Jun 30, 2022 | 65.19% |
| Mar 31, 2022 | 63.84% |
| Dec 31, 2021 | 59.94% |
| Sep 30, 2021 | 62.55% |
| Jun 30, 2021 | 53.22% |
API Access
TON Strategy Gross Margin 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=gross-margin&ticker=TONX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=TONX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();