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Side-by-side financial comparison of Currenc Group Inc. (CURR) and TON Strategy Co (TONX). Click either name above to swap in a different company.
Currenc Group Inc. is the larger business by last-quarter revenue ($10.1M vs $5.7M, roughly 1.8× TON Strategy Co). Currenc Group Inc. runs the higher net margin — -46.5% vs -3968.6%, a 3922.1% gap on every dollar of revenue. On growth, TON Strategy Co posted the faster year-over-year revenue change (694.2% vs -23.3%). Currenc Group Inc. produced more free cash flow last quarter ($-1.7M vs $-8.0M).
CURR vs TONX — Head-to-Head
Income Statement — Q1 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.1M | $5.7M |
| Net Profit | $-4.7M | $-227.9M |
| Gross Margin | 31.8% | 64.3% |
| Operating Margin | -43.0% | -159.2% |
| Net Margin | -46.5% | -3968.6% |
| Revenue YoY | -23.3% | 694.2% |
| Net Profit YoY | -54.0% | -7047.9% |
| EPS (diluted) | $-0.13 | $-3.89 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $5.7M | ||
| Q3 25 | — | $3.6M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | $10.1M | $1.3M | ||
| Q4 24 | — | $723.0K | ||
| Q3 24 | $11.3M | — | ||
| Q1 24 | $13.1M | — | ||
| Q3 23 | $12.7M | — |
| Q4 25 | — | $-227.9M | ||
| Q3 25 | — | $84.3M | ||
| Q2 25 | — | $-2.4M | ||
| Q1 25 | $-4.7M | $-2.6M | ||
| Q4 24 | — | $-3.2M | ||
| Q3 24 | $-5.0M | — | ||
| Q1 24 | $-3.0M | — | ||
| Q3 23 | $-3.8M | — |
| Q4 25 | — | 64.3% | ||
| Q3 25 | — | 75.4% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | 31.8% | 73.4% | ||
| Q4 24 | — | 81.5% | ||
| Q3 24 | 27.8% | — | ||
| Q1 24 | 33.6% | — | ||
| Q3 23 | 32.5% | — |
| Q4 25 | — | -159.2% | ||
| Q3 25 | — | -601.5% | ||
| Q2 25 | — | -138.2% | ||
| Q1 25 | -43.0% | -203.8% | ||
| Q4 24 | — | -513.1% | ||
| Q3 24 | -141.5% | — | ||
| Q1 24 | -10.8% | — | ||
| Q3 23 | -18.2% | — |
| Q4 25 | — | -3968.6% | ||
| Q3 25 | — | 2336.8% | ||
| Q2 25 | — | -111.9% | ||
| Q1 25 | -46.5% | -196.5% | ||
| Q4 24 | — | -440.9% | ||
| Q3 24 | -44.1% | — | ||
| Q1 24 | -23.2% | — | ||
| Q3 23 | -30.1% | — |
| Q4 25 | — | $-3.89 | ||
| Q3 25 | — | $2.23 | ||
| Q2 25 | — | $-1.79 | ||
| Q1 25 | $-0.13 | $-2.51 | ||
| Q4 24 | — | $10.41 | ||
| Q3 24 | $-0.13 | — | ||
| Q1 24 | $-0.09 | — | ||
| Q3 23 | $-0.11 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $62.3M | $39.5M |
| Total DebtLower is stronger | $3.7M | — |
| Stockholders' EquityBook value | $-68.4M | $406.5M |
| Total Assets | $110.8M | $411.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $39.5M | ||
| Q3 25 | — | $53.9M | ||
| Q2 25 | — | $10.4M | ||
| Q1 25 | $62.3M | $12.2M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $49.1M | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.7M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $20.1M | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q4 25 | — | $406.5M | ||
| Q3 25 | — | $639.1M | ||
| Q2 25 | — | $19.4M | ||
| Q1 25 | $-68.4M | $14.6M | ||
| Q4 24 | — | $16.2M | ||
| Q3 24 | $-47.0M | — | ||
| Q1 24 | $-10.9M | — | ||
| Q3 23 | $-10.2M | — |
| Q4 25 | — | $411.2M | ||
| Q3 25 | — | $661.9M | ||
| Q2 25 | — | $23.7M | ||
| Q1 25 | $110.8M | $18.4M | ||
| Q4 24 | — | $20.6M | ||
| Q3 24 | $115.0M | — | ||
| Q1 24 | $54.5M | — | ||
| Q3 23 | $82.0M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.5M | $-8.0M |
| Free Cash FlowOCF − Capex | $-1.7M | $-8.0M |
| FCF MarginFCF / Revenue | -16.5% | -139.3% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-20.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.0M | ||
| Q3 25 | — | $-9.4M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | $-1.5M | $-1.1M | ||
| Q4 24 | — | $-1.9M | ||
| Q3 24 | $-11.3M | — | ||
| Q1 24 | $-221.0K | — | ||
| Q3 23 | $-10.5M | — |
| Q4 25 | — | $-8.0M | ||
| Q3 25 | — | $-9.4M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | $-1.7M | $-1.1M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | — | — | ||
| Q1 24 | $-233.0K | — | ||
| Q3 23 | — | — |
| Q4 25 | — | -139.3% | ||
| Q3 25 | — | -261.4% | ||
| Q2 25 | — | -107.8% | ||
| Q1 25 | -16.5% | -87.0% | ||
| Q4 24 | — | -279.9% | ||
| Q3 24 | — | — | ||
| Q1 24 | -1.8% | — | ||
| Q3 23 | — | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 1.7% | 5.1% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | — | ||
| Q1 24 | 0.1% | — | ||
| Q3 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CURR
| Sales Of Airtime | $5.5M | 54% |
| Fiat Remittance Service | $4.4M | 44% |
TONX
| Market Live | $4.8M | 83% |
| Other | $960.0K | 17% |
