TON Strategy (TONX) Gross Margin (2018 - 2026)
TON Strategy's (TONX) quarterly Gross Margin came in at 75.33% in Q1 2026, up 2100.0% on a YoY basis from 3.42% in Q1 2025, and up 17.09% quarter-over-quarter from 64.33% in Q4 2025.
Analysis
TON Strategy (TONX) Gross Margin (2018 - 2026) Analysis & Trends
TON Strategy (TONX) has reported Gross Margin for 9 consecutive years, with 75.33% the latest figure, recorded in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 2100.0% year-over-year to 75.33%; the trailing twelve-month figure through Mar 2026 stood at 71.05% (up 821.0% YoY), and the FY2025 full-year result was 69.53%, down 544.0% from the prior year.
- Gross Margin improved to 75.33% in Q1 2026 per TONX's latest filing, from 64.33% in the prior quarter.
- Across five years, Gross Margin topped out at 122440.0% in Q4 2022 and bottomed at 16.22% in Q2 2024.
- Historically, Gross Margin has averaged 11715.79% across 5 years, with a median of 66.67% in 2022.
- The sharpest annual moves came in 2022 and 2023: Gross Margin soared 12238006 bps in 2022, then slumped 12238138 bps in 2023.
- Over 5 years, Gross Margin stood at 122440.0% in 2022, then tumbled by 100 bps to 58.62% in 2023, then jumped by 39 bps to 81.47% in 2024, then declined by 21 bps to 64.33% in 2025, then grew by 17 bps to 75.33% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 75.33%, 64.33%, and 75.39% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.70 Bn | 39.92 Bn | 1.16 Bn | 95.11% |
| 2 | Bullish | 5.43 Bn | 5.38 Bn | 15.53 Mn | 0.05% |
| 3 | Canton Strategic Holdings | 494.45 Mn | 494.45 Mn | - | - |
| 4 | Cypherpunk Technologies | 446.07 Mn | 446.07 Mn | - | - |
| 5 | Coincheck | 267.10 Mn | 165.50 Mn | 11.20 Mn | 1.61% |
| 6 | Exodus Movement | 226.48 Mn | -128.60 Mn | - | - |
| 7 | Wewards | 214.97 Mn | 214.97 Mn | - | - |
| 8 | Usbc | 194.07 Mn | 190.41 Mn | - | - |
| 9 | TON Strategy | 187.68 Mn | 187.66 Mn | - | - |
| 10 | Universal Token | 174.68 Mn | 174.68 Mn | - | - |
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% |