TON Strategy reports $13.1 million in quarterly revenue
Key points
- TON Strategy Company (NASDAQ:TONX) generated $13.1 million in third-quarter revenue, primarily from Gram staking rewards.
- The company held 235.1 million Gram (GRAM), with 232.9 million tokens deployed in staking.
- Its staking operations generated an annualised gross yield of approximately 16%, while Telegram began rolling out its native Gram Wallet.
TON Strategy Company (NASDAQ:TONX) generated $13.1 million in third-quarter revenue, primarily from Gram staking rewards.
The company held 235.1 million Gram (GRAM) at September 30, including 232.9 million tokens deployed in staking.
“Our Own, Advance, Compound strategy is grounded in three operating priorities: maintaining a productive GRAM treasury, managing a lean and efficient operating structure, and allocating capital to build long-term shareholder value,” Chief Executive Officer Kevin Wilson said in a statement.
Quarterly revenue fell from $15 million in the second quarter, mainly because Gram prices declined.
The company earned approximately 9.4 million GRAM through staking, generating an annualised gross yield of approximately 16%.
TON Strategy also supported network upgrades as Telegram began limited rollout of its native Gram Wallet on August 31.
Operating income reached $4 million, while a $27.2 million unrealised loss on Gram holdings contributed to a $24 million net loss.
Following the results, TONX shares closed up 9.15% at $3.220.
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