TON Strategy Q1 Revenue $5.3M, Net Loss $91M, April Yield Jump to 1.39%
TONX•TON Strategy reported Q1 revenue of $5.3M, staking revenue of $3M, and net loss before taxes of $91M including an $87.9M unrealized loss on Toncoin holdings valued at $272M. April network upgrades pushed gross staking yield from 0.34% to 1.39%, lifting holdings’ fair value to $433.3M by May 6.
1. First Quarter Financial Performance
TON Strategy reported total revenue of $5.3M, including $3M from staking, with gross profit of $4M and total costs of $7.8M, resulting in a $3.9M operating loss and a $91M net loss before taxes that included an $87.9M unrealized Toncoin loss.
2. TONcoin Holdings and Staking Infrastructure
At March 31, 2026, the company held 221.9M Toncoin units worth $272M, with 221.2M staked representing 26.18% of network stakes, operating through institutional custody and segregated staking to optimize governance and security.
3. Network Upgrades Drive Yield and Asset Value
In April, TON network upgrades boosted gross staking yields from 0.34% to 1.39%, and Toncoin’s price appreciation lifted the fair value of the company’s holdings to $433.3M by May 6, highlighting the impact of infrastructure improvements.
4. Leadership and Balance Sheet Strength
Kevin Wilson assumed the CEO role on May 4 to guide execution, while the company maintained $35M in cash and restricted cash with no debt, supporting continued treasury operations and strategic flexibility.
