TON Strategy (TONX) Operating Expenses (2013 - 2026)
TON Strategy's (TONX) quarterly Operating Expenses came in at $7.8 million in Q1 2026, up 132.84% on a YoY basis from $3.4 million in Q1 2025, and down 47.31% quarter-over-quarter from $14.9 million in Q4 2025.
Analysis
TON Strategy (TONX) Operating Expenses (2013 - 2026) Analysis & Trends
TON Strategy (TONX) has reported Operating Expenses for 14 consecutive years, with $7.8 million the latest figure, recorded in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 132.84% year-over-year to $7.8 million; the trailing twelve-month figure through Mar 2026 stood at $53.1 million (up 318.66% YoY), and the FY2025 full-year result was $49.2 million, up 292.54% from the prior year.
- Operating Expenses slipped to $7.8 million in Q1 2026 per TONX's latest filing, from $14.9 million in the prior quarter.
- Across five years, Operating Expenses topped out at $25.3 million in Q3 2025 and bottomed at $2.4 million in Q3 2024.
- Historically, Operating Expenses has averaged $6.2 million across 5 years, with a median of $4.1 million in 2023.
- The sharpest annual moves came in 2022 and 2025: Operating Expenses slumped 62.44% in 2022, then surged 937.58% in 2025.
- Over 5 years, Operating Expenses stood at $3.3 million in 2022, then dropped by 8.92% to $3.0 million in 2023, then jumped by 45.77% to $4.4 million in 2024, then soared by 235.73% to $14.9 million in 2025, then tumbled by 47.31% to $7.8 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $7.8 million, $14.9 million, and $25.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.70 Bn | 39.92 Bn | 1.16 Bn | 1.33 Bn |
| 2 | Bullish | 5.43 Bn | 5.38 Bn | 15.53 Mn | -56.27 Mn |
| 3 | Canton Strategic Holdings | 494.45 Mn | 494.45 Mn | - | 2.70 Mn |
| 4 | Cypherpunk Technologies | 446.07 Mn | 446.07 Mn | - | 4.69 Mn |
| 5 | Coincheck | 267.10 Mn | 165.50 Mn | 11.20 Mn | 711.50 Mn |
| 6 | Exodus Movement | 226.48 Mn | -128.60 Mn | - | 44.71 Mn |
| 7 | Wewards | 214.97 Mn | 214.97 Mn | - | 14,393.00 |
| 8 | Usbc | 194.07 Mn | 190.41 Mn | - | 28.10 Mn |
| 9 | TON Strategy | 187.68 Mn | 187.66 Mn | - | - |
| 10 | Universal Token | 174.68 Mn | 174.68 Mn | - | 17,725.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 7.84 Mn |
| Dec 31, 2025 | 14.88 Mn |
| Sep 30, 2025 | 25.32 Mn |
| Jun 30, 2025 | 5.06 Mn |
| Mar 31, 2025 | 3.37 Mn |
| Dec 31, 2024 | 4.43 Mn |
| Sep 30, 2024 | 2.44 Mn |
| Jun 30, 2024 | 2.44 Mn |
| Mar 31, 2024 | 3.22 Mn |
| Dec 31, 2023 | 3.04 Mn |
| Sep 30, 2023 | 3.42 Mn |
| Jun 30, 2023 | 3.27 Mn |
| Mar 31, 2023 | 4.13 Mn |
| Dec 31, 2022 | 3.34 Mn |
| Sep 30, 2022 | 5.56 Mn |
| Jun 30, 2022 | 4.80 Mn |
| Mar 31, 2022 | 9.03 Mn |
| Dec 31, 2021 | 8.89 Mn |
| Sep 30, 2021 | 10.04 Mn |
| Jun 30, 2021 | 10.16 Mn |