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Side-by-side financial comparison of SYNTEC OPTICS HOLDINGS, INC. (OPTX) and TON Strategy Co (TONX). Click either name above to swap in a different company.
SYNTEC OPTICS HOLDINGS, INC. is the larger business by last-quarter revenue ($7.5M vs $5.7M, roughly 1.3× TON Strategy Co). SYNTEC OPTICS HOLDINGS, INC. runs the higher net margin — -4.6% vs -3968.6%, a 3964.0% gap on every dollar of revenue. On growth, TON Strategy Co posted the faster year-over-year revenue change (694.2% vs 2.5%). SYNTEC OPTICS HOLDINGS, INC. produced more free cash flow last quarter ($-4.4K vs $-8.0M). Over the past eight quarters, TON Strategy Co's revenue compounded faster (46.1% CAGR vs 9.5%).
OPTX vs TONX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.5M | $5.7M |
| Net Profit | $-343.8K | $-227.9M |
| Gross Margin | 23.6% | 64.3% |
| Operating Margin | 4.2% | -159.2% |
| Net Margin | -4.6% | -3968.6% |
| Revenue YoY | 2.5% | 694.2% |
| Net Profit YoY | 77.7% | -7047.9% |
| EPS (diluted) | $-0.01 | $-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 | $7.5M | $5.7M | ||
| Q3 25 | $7.0M | $3.6M | ||
| Q2 25 | $6.6M | $2.1M | ||
| Q1 25 | $7.1M | $1.3M | ||
| Q4 24 | $7.3M | $723.0K | ||
| Q3 24 | $7.9M | — | ||
| Q2 24 | $7.0M | — | ||
| Q1 24 | $6.3M | — |
| Q4 25 | $-343.8K | $-227.9M | ||
| Q3 25 | $-1.4M | $84.3M | ||
| Q2 25 | $-343.9K | $-2.4M | ||
| Q1 25 | $323.7K | $-2.6M | ||
| Q4 24 | $-1.5M | $-3.2M | ||
| Q3 24 | $-13.3K | — | ||
| Q2 24 | $281.8K | — | ||
| Q1 24 | $-1.2M | — |
| Q4 25 | 23.6% | 64.3% | ||
| Q3 25 | 12.3% | 75.4% | ||
| Q2 25 | 24.4% | 71.2% | ||
| Q1 25 | 32.7% | 73.4% | ||
| Q4 24 | 13.5% | 81.5% | ||
| Q3 24 | 23.3% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 11.3% | — |
| Q4 25 | 4.2% | -159.2% | ||
| Q3 25 | -17.5% | -601.5% | ||
| Q2 25 | -2.2% | -138.2% | ||
| Q1 25 | 7.5% | -203.8% | ||
| Q4 24 | -19.6% | -513.1% | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | -22.5% | — |
| Q4 25 | -4.6% | -3968.6% | ||
| Q3 25 | -20.6% | 2336.8% | ||
| Q2 25 | -5.2% | -111.9% | ||
| Q1 25 | 4.6% | -196.5% | ||
| Q4 24 | -21.0% | -440.9% | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | 4.0% | — | ||
| Q1 24 | -19.3% | — |
| Q4 25 | $-0.01 | $-3.89 | ||
| Q3 25 | $-0.04 | $2.23 | ||
| Q2 25 | $-0.01 | $-1.79 | ||
| Q1 25 | $0.01 | $-2.51 | ||
| Q4 24 | $-0.05 | $10.41 | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $0.01 | — | ||
| Q1 24 | $-0.03 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $39.5M |
| Total DebtLower is stronger | $2.6M | — |
| Stockholders' EquityBook value | $9.5M | $406.5M |
| Total Assets | $24.3M | $411.2M |
| Debt / EquityLower = less leverage | 0.28× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $39.5M | ||
| Q3 25 | — | $53.9M | ||
| Q2 25 | — | $10.4M | ||
| Q1 25 | — | $12.2M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.6M | — | ||
| Q3 25 | $2.7M | — | ||
| Q2 25 | $2.9M | — | ||
| Q1 25 | $3.0M | — | ||
| Q4 24 | $3.1M | — | ||
| Q3 24 | $3.2M | — | ||
| Q2 24 | $2.8M | — | ||
| Q1 24 | $3.0M | — |
| Q4 25 | $9.5M | $406.5M | ||
| Q3 25 | $9.8M | $639.1M | ||
| Q2 25 | $11.0M | $19.4M | ||
| Q1 25 | $11.4M | $14.6M | ||
| Q4 24 | $11.0M | $16.2M | ||
| Q3 24 | $12.1M | — | ||
| Q2 24 | $12.1M | — | ||
| Q1 24 | $11.9M | — |
| Q4 25 | $24.3M | $411.2M | ||
| Q3 25 | $24.6M | $661.9M | ||
| Q2 25 | $25.3M | $23.7M | ||
| Q1 25 | $26.3M | $18.4M | ||
| Q4 24 | $26.0M | $20.6M | ||
| Q3 24 | $27.3M | — | ||
| Q2 24 | $25.8M | — | ||
| Q1 24 | $24.6M | — |
| Q4 25 | 0.28× | — | ||
| Q3 25 | 0.28× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.25× | — |
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 | $-3.9K | $-8.0M |
| Free Cash FlowOCF − Capex | $-4.4K | $-8.0M |
| FCF MarginFCF / Revenue | -0.1% | -139.3% |
| Capex IntensityCapex / Revenue | 0.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $28.3K | $-20.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.9K | $-8.0M | ||
| Q3 25 | $535.3K | $-9.4M | ||
| Q2 25 | $-158.0K | $-2.3M | ||
| Q1 25 | $299.3K | $-1.1M | ||
| Q4 24 | $623.8K | $-1.9M | ||
| Q3 24 | $417.3K | — | ||
| Q2 24 | $-1.7M | — | ||
| Q1 24 | $-289.8K | — |
| Q4 25 | $-4.4K | $-8.0M | ||
| Q3 25 | $496.3K | $-9.4M | ||
| Q2 25 | $-548.1K | $-2.3M | ||
| Q1 25 | $84.6K | $-1.1M | ||
| Q4 24 | $12.1K | $-2.0M | ||
| Q3 24 | $43.8K | — | ||
| Q2 24 | $-1.9M | — | ||
| Q1 24 | $-385.1K | — |
| Q4 25 | -0.1% | -139.3% | ||
| Q3 25 | 7.1% | -261.4% | ||
| Q2 25 | -8.4% | -107.8% | ||
| Q1 25 | 1.2% | -87.0% | ||
| Q4 24 | 0.2% | -279.9% | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | -26.5% | — | ||
| Q1 24 | -6.2% | — |
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.6% | 0.4% | ||
| Q2 25 | 5.9% | 0.1% | ||
| Q1 25 | 3.0% | 5.1% | ||
| Q4 24 | 8.4% | 22.1% | ||
| Q3 24 | 4.7% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 1.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -6.01× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPTX
Segment breakdown not available.
TONX
| Market Live | $4.8M | 83% |
| Other | $960.0K | 17% |
