Ton Strategy posts $91 mln Q1 loss on Toncoin decline

Ton Strategy

12/05/2026 13:14

Overview

Digital asset treasury firm's Q1 revenue was $5.3 mln, driven by Toncoin staking activities

Company posted Q1 net loss of $91.0 mln, mainly from $87.9 mln unrealized loss on crypto assets

Staking yields rose sharply in April after TON network upgrades; Toncoin value rebounded in May

Outlook

Company intends to prioritize liquidity and align expenses with its core treasury strategy

Company expects to benefit from higher staking yields after recent TON network upgrades

Management sees TON network upgrades and Telegram integration as drivers of future relevance

Result Drivers

STAKING REVENUE - Majority of Q1 revenue came from staking Toncoin, with 2.2 mln $TON earned and $3.0 mln in staking revenue

UNREALIZED CRYPTO LOSSES - Q1 net loss was mainly due to $87.9 mln unrealized loss on Toncoin holdings as fair value declined

NETWORK UPGRADES - TON network upgrades in April improved staking yields, with gross staking yields rising to 1.39% from 0.34% month-over-month

Company press release: ID:nGNX3Lmls6

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$90.95 mln


Analyst Coverage

Wall Street's median 12-month price target for Ton Strategy Co is $62.00, about 1,761.9% above its May 11 closing price of $3.33

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)