TON Strategy posts Q3 net loss of $23.98 million

According to TechFlow, TON Strategy Company's (Nasdaq: TONX) third-quarter 10-Q filing submitted on November 13 reveals that as of September 30, the company held $348.45 million in digital assets denominated in Gram (formerly Toncoin, renamed following a community governance vote on June 8), with 232,865,523 tokens staked.

Staking rewards for the quarter amounted to 9.431 million GRAM, with recognized staking revenue of $13.065 million; cumulative rewards and revenue for the first three quarters totaled 21.044 million tokens and $31.086 million, respectively. From an operational standpoint, operating profit for the quarter was $3.977 million, but net other expenses reached $27.224 million (primarily driven by fair value changes in digital assets), resulting in a net loss of $23.975 million, compared to a net profit of $84.319 million in the same period last year; the first three quarters recorded a net loss of $38.255 million.

Cash and cash equivalents at period-end stood at $25.302 million, down from $39.493 million at the end of last year; shareholders' equity was $372.55 million, with 55.427 million shares outstanding. The company stakes GRAM through two custodians, BitGo Trust and Blockchain.com (Cayman), exclusively via single-nominator validator pools, with no commingling with other client assets.