TON Strategy Q3 Earnings Report: Net loss of approximately $23.98 million, holding 235.1 million GRAM at period end

November 13 - According to the financial report released by TON Strategy (TONX), the company's third-quarter revenue was $13.1 million, primarily from GRAM staking rewards, down from $15 million in the second quarter. The company stated that the number of staking rewards remained roughly flat quarter-over-quarter, and the revenue decline was mainly due to the drop in GRAM price.

In the third quarter, TON Strategy's operating profit from continuing operations rose from approximately $500,000 in the previous quarter to approximately $4 million, but the decline in fair value of its GRAM holdings resulted in an unrealized loss of approximately $27.2 million. The company recorded a net loss of approximately $23.98 million for the quarter, compared to net income of approximately $84.72 million in the same period last year.

As of September 30, TON Strategy held approximately 235.1 million GRAM, of which approximately 232.9 million were staked, with the fair value of digital assets at approximately $348.5 million. The company received approximately 9.4 million GRAM in staking rewards during the quarter, with an annualized gross staking yield of approximately 16%, and spent approximately $5.7 million to repurchase approximately 1.8 million shares of common stock.