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ATON

AlphaTON Capital Corp.

ATON

AlphaTON Capital Corp. • NASDAQ
$1.89 ▲ 0.53% (+0.01)
Market Cap $4.31 M
52w High $15.82
52w Low $1.69
Dividend Yield 0%
P/E -0.33
Volume 442.02K
Outstanding Shares 2.28M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $0 $1.47M $-1.875M 0% $-1.44 $-1.47M
Q3-2025 $0 $1.47M ▼ $-1.875M ▼ 0% $-1.44 ▼ $-1.47M ▲
Q2-2025 $0 $1.604M ▼ $-1.36M ▲ 0% $-1.26 ▲ $-1.604M ▲
Q1-2025 $0 $2.839M ▼ $-1.656M ▲ 0% $-1.58 ▼ $-2.839M ▲
Q4-2024 $0 $3.247M $-24.889M 0% $-1.26 $-24.892M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $1.67M $2.225M $3.052M $-123K
Q3-2025 $1.67M ▼ $2.225M ▼ $3.052M ▲ $-123K ▼
Q2-2025 $1.764M ▼ $2.706M ▼ $2.011M ▼ $1.398M ▼
Q1-2025 $3.334M ▼ $5.237M ▼ $3.427M ▼ $2.511M ▼
Q4-2024 $5.028M $7.779M $4.45M $4.022M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-1.875M $-1.108K $0 $1.061M ▲ $0 ▲ $-1.108K
Q3-2025 $-1.875M ▼ $-1.108K ▲ $0 $1.061K ▲ $-1.764K ▲ $-1.108K ▲
Q2-2025 $-1.362M ▲ $-1.56M ▲ $0 $-10K ▼ $-1.57M ▲ $-1.56M ▲
Q1-2025 $-1.656M ▲ $-1.686M ▲ $0 ▼ $-8K ▼ $-1.694M ▼ $-1.686M ▲
Q4-2024 $-24.889M $-3.214M $2.812M $45.525K $-313K $-3.214M

Five-Year Company Overview

Income Statement

Income Statement AlphaTON has effectively no operating revenue over the past several years and has been running at a loss the whole time. Operating losses are relatively small in absolute terms, but net losses have been larger and somewhat volatile, likely reflecting one‑off items, financing effects, or revaluations. The pattern is that this is still a pre‑revenue, development‑stage story rather than an established, fee‑earning asset manager. Profitability is not yet in sight and will depend entirely on turning its TON, AI, and biotech initiatives into recurring income streams.

Balance Sheet

Balance Sheet The balance sheet is very small and has been shrinking, with minimal cash and total assets and little to no equity left in the latest year. On the positive side, there is no financial debt, so the company is not burdened by interest payments. On the negative side, the lack of a meaningful asset base or equity cushion makes the balance sheet fragile and leaves limited room to absorb setbacks. Future growth and even day‑to‑day operations appear reliant on raising fresh capital or realizing value from new projects and partnerships.

Cash Flow

Cash Flow Cash outflows from operations have been steady and negative, even though spending levels are relatively lean. Free cash flow is also consistently negative, and there is essentially no capital spending, which underscores that the business is not yet investing heavily in physical infrastructure on its own balance sheet. This pattern suggests a company that keeps its cost base light but currently consumes cash rather than generates it. Ongoing activities will likely depend on external funding, asset contributions from partners, or monetization of digital and biotech assets rather than self‑funding from internal cash flow.

Competitive Edge

Competitive Edge AlphaTON’s competitive edge comes from its unusual combination of roles: a public vehicle focused on the TON blockchain ecosystem, while still holding biotech assets. This dual identity sets it apart from traditional asset managers and pure crypto plays. Its strategy to become a kind of “Telegram ecosystem holding company” and its partnerships in staking, gaming, payments, healthcare processing, and media could give it early‑mover advantages in several TON‑based niches. However, it is competing in very crowded, fast‑changing arenas: digital assets, AI, gaming, DeFi, and oncology. Larger, better‑funded rivals exist in each of these fields. The company’s small scale and thin financial resources make execution risk and competitive pressure particularly high, even if the strategic positioning is distinctive.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of AlphaTON’s story. On the digital side, it is pursuing privacy‑preserving AI through Cocoon AI, building GPU‑backed infrastructure in low‑cost, renewable‑powered data centers, and developing institutional‑grade TON staking and DeFi tools. It is also exploring new products such as a TON‑linked payment card, blockchain‑based healthcare claims processing, blockchain gaming platforms, and tokenized media authenticity for financial news. On the biotech side, it is advancing an oncology pipeline and experimenting with “DeSci” models to tokenize specific drug economics, potentially opening new funding channels for research. These efforts are ambitious and novel, but they are still largely in the build‑out or early‑concept phase. The key uncertainty is not technical imagination but whether these ideas can be scaled, integrated, and translated into reliable, commercial revenue.

Summary

AlphaTON is a high‑concept, early‑stage transformation story rather than a mature financial services firm. Financially, it has no meaningful revenue, runs persistent losses, and operates with a very small, fragile balance sheet and negative cash flow, while avoiding traditional debt. Strategically, it is trying to carve out a unique position at the intersection of the TON blockchain, AI infrastructure, gaming, payments, media authenticity, healthcare claims, and oncology drug development. If the company can execute, these initiatives could create a differentiated platform with multiple potential income sources. At the same time, the execution, funding, regulatory, and market risks across so many complex and unproven areas are substantial, and the current financial footing leaves little margin for error. This is a story to view primarily through the lens of strategic and technological execution rather than current financial strength.

NEWS

November 26, 2025 · 10:15 AM UTC

AlphaTON Capital Secures $82.5 Million Strategic GPU Infrastructure to Power Privacy-First Decentralized Artificial Intelligence Cluster after Successful Pilot Launch of Telegram's Cocoon AI

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November 26, 2025 · 9:16 AM UTC

AlphaTON Capital Announces $82.5 Million Strategic GPU Infrastructure Investment to Power Privacy-First Decentralized AI after Successful Pilot Launch of Telegram's Cocoon AI

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November 25, 2025 · 8:00 AM UTC

AlphaTON Capital Corp. to Accumulate Telegram Bonds for its Treasury

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November 24, 2025 · 7:00 AM UTC

AlphaTON Capital Submits Strategic Offer to Acquire Majority Stake in Forbes Media Holdings

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November 20, 2025 · 7:18 PM UTC

AlphaTON Capital (Nasdaq: ATON) Issues Shareholder Update on Balance Sheet Assets and Strategic Ecosystem Expansion Clarification and Correction

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