TON Strategy Q2 revenue rises to $15.0 million; net income $76.8 million on Gram gain
TON Strategy reported second-quarter 2026 revenue of $15.0 million, up from $3.0 million in the first quarter, driven by Gram staking rewards after the TON Catchain 2.0 upgrade. Net income attributable to the company was $76.8 million, largely due to an $82.8 million noncash gain from changes in the fair value of its Gram holdings, and the company also recorded a $5.5 million noncash stock compensation charge and about $2.9 million of noncash Kingsway advisory-agreement expense. Shareholders see higher revenue and operating income, but the profit figure depends heavily on Gram's market price, and cash and restricted cash fell to $29.0 million.
Key points
- Total revenue was $15.0 million in Q2 2026 versus $3.0 million in Q1 2026.
- Net income attributable to TON Strategy was $76.8 million, including an $82.8 million net gain from Gram fair value changes.
- Operating income from continuing operations was $0.5 million, compared with an operating loss of $3.7 million in Q1 2026, despite a $5.5 million noncash charge and about $2.9 million of Kingsway-related noncash expense.
- Held about 230.5 million Gram at June 30, 2026; cash and restricted cash was $29.0 million and the company had no debt.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.