---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-036987"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2026-08-11T12:15:29+00:00"
generated_at: "2026-08-11T12:20:18.242607+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TON Strategy Q2: staking rev $15M, op income $0.5M, 230.5M Gram held

## Summary
- Q2 revenue $15.0M vs $3.0M in Q1; gross profit $14.3M (95% margin).
- Operating income $0.5M vs $3.7M loss in Q1; pre-tax net income $83.5M on $82.8M Gram fair-value gain.
- Held 230.5M Gram (229.9M staked) at June 30; fair value $369.5M vs $272.0M at Mar 31; annualized staking yield ~17%.
- Legacy operations discontinued; expected to cut ~$4.0M annual cash costs; Kingsway advisory agreement terminated Aug 10.
- Noncash charges: $5.5M accelerated stock comp and ~$2.9M Kingsway write-off; cash $29.0M, no debt.

## SEC filing metadata
- accession: 0001493152-26-036987
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2026-08-11T12:15:29+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000149315226036987/0001493152-26-036987-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000149315226036987/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-036987
- JSON: https://secwatch.observer/filing/0001493152-26-036987.json
- Plain text: https://secwatch.observer/filing/0001493152-26-036987.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.