Ton Strategy Q3 revenue falls on lower GRAM prices
TONX•Ton Strategy’s Q3 revenue fell sequentially, mainly due to lower GRAM prices. Operating income from continuing operations improved to $4.0 million, and the company repurchased 1.8 million shares for $5.7 million.
1. Revenue and costs
Ton Strategy said Q3 revenue fell sequentially, mainly because of lower GRAM prices. Operating income from continuing operations improved to $4.0 million as expenses decreased, including advisory fees, personnel costs and professional services, and the company wound down legacy operations.
2. Staking and buybacks
The company reported an annualized gross staking yield of about 16% and repurchased 1.8 million shares for $5.7 million. Its Q3 net loss was $23.98 million. Ton Strategy did not provide specific financial guidance for current or future periods.
