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AlphaTON Capital
(NASDAQ:ATON)
AlphaTON Capital (ATON) vs. SPDR S&P 500 ETF (SPY)
AlphaTON Capital Business Overview & Revenue Model
AlphaTON Capital Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -35.00K | -54.00K | -1.00K | 0.00 | 0.00 |
| EBITDA | -16.37M | -6.74M | -18.20M | -122.25M | -14.77M | -14.71M |
| Net Income | -19.69M | -6.77M | -75.34M | -104.61M | -16.87M | -15.83M |
Balance Sheet | ||||||
| Total Assets | 30.59M | 2.23M | 7.78M | 99.13M | 194.66M | 174.86M |
| Cash, Cash Equivalents and Short-Term Investments | 183.00K | 1.67M | 5.03M | 10.54M | 23.35M | 2.77M |
| Total Debt | 0.00 | 0.00 | 47.00K | 0.00 | 0.00 | 150.00K |
| Total Liabilities | 21.70M | 3.05M | 4.45M | 23.73M | 29.23M | 27.26M |
| Stockholders Equity | 9.59M | -123.00K | 4.02M | 76.05M | 121.20M | 101.45M |
Cash Flow | ||||||
| Free Cash Flow | -3.65M | -5.46M | -14.30M | -12.08M | -6.76M | -3.28M |
| Operating Cash Flow | -3.65M | -5.46M | -14.30M | -12.07M | -6.76M | -4.28M |
| Investing Cash Flow | -50.00K | 0.00 | 2.81M | -617.00K | 0.00 | -860.00K |
| Financing Cash Flow | 2.12M | 2.10M | 5.97M | -117.00K | 27.35M | 4.76M |
AlphaTON Capital Technical Analysis
AlphaTON Capital Risk Analysis
AlphaTON Capital Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
53 Neutral | $15.22M | -0.34 | -145.42% | ― | ― | 79.31% | |
48 Neutral | $12.21M | -0.29 | -81.97% | ― | -46.88% | 34.83% | |
46 Neutral | $12.27M | -0.51 | -107.58% | ― | ― | 83.95% | |
46 Neutral | $7.18M | -0.21 | -168.18% | ― | ― | 71.57% | |
41 Neutral | $9.99M | -0.01 | ― | ― | ― | ― | |
41 Neutral | $5.69M | ― | ― | ― | ― | ― |
AlphaTON Capital Corporate Events
On January 13, 2026, AlphaTON Capital Corp entered into a securities purchase agreement for a registered direct offering of 15 million ordinary shares or pre-funded warrants at $1.00 per security, with closing completed on January 14, 2026, generating approximately $13.6 million in net proceeds after fees. The capital raise, arranged with H.C. Wainwright & Co. as exclusive placement agent and accompanied by placement agent warrants, is intended to fund the scaling of GPU deployments for AlphaTON’s Cocoon AI platform as well as working capital and general corporate purposes, while customary issuance restrictions and a one-year prohibition on variable rate financings underscore efforts to manage dilution and financing risk as the company deepens its position in the TON and Telegram-related technology ecosystem.
The most recent analyst rating on (ATON) stock is a Sell with a $0.86 price target. To see the full list of analyst forecasts on AlphaTON Capital stock, see the ATON Stock Forecast page.
On January 12, 2026, AlphaTON Capital Corp filed a Form 6-K for January 2026, furnishing unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the three and six months ended September 30, 2025. The filing shows a substantial expansion of the balance sheet over the period, with total assets rising to $30.6 million from $2.2 million as of March 31, 2025, driven largely by the addition of stablecoins, TON and Bitcoin holdings, and digital asset receivables, while current liabilities increased to $21.5 million, primarily reflecting a sizable put right liability. Shareholders’ equity improved from a deficit of $0.8 million at March 31, 2025 to positive equity of $8.9 million at September 30, 2025, indicating a material strengthening of the company’s capital position even as accumulated deficits remain significant, a shift that could meaningfully affect its financial flexibility and risk profile for investors in the evolving digital-asset financing space.
The most recent analyst rating on (ATON) stock is a Sell with a $0.88 price target. To see the full list of analyst forecasts on AlphaTON Capital stock, see the ATON Stock Forecast page.
On November 25, 2025, AlphaTON Capital Corp. filed a prospectus supplement with the U.S. Securities and Exchange Commission to offer and sell up to approximately $15.3 million of its ordinary shares under an at-the-market (ATM) offering agreement with Chardan Capital Markets LLC. However, that ATM Agreement, originally dated July 31, 2025, was subsequently terminated effective immediately on December 24, 2025, signaling a halt to this specific equity-raising program and potentially indicating a shift in AlphaTON Capital’s funding strategy or market approach going into 2026.
The most recent analyst rating on (ATON) stock is a Sell with a $0.58 price target. To see the full list of analyst forecasts on AlphaTON Capital stock, see the ATON Stock Forecast page.
On December 8, 2025, AlphaTON Capital Corp was required to honor a previously disclosed put option granted to certain investors in connection with its September 25, 2025 private placement financing. Under a side letter agreement, one investor exercised its right to have the company repurchase 658,644 ordinary shares at the original consideration value, compelling AlphaTON to transfer back 1,230,590.71 locked TON tokens and 187,515.21 liquid TON tokens with no adjustment for market value. The transaction effectively reverses part of the September financing and underscores the potential liquidity and balance-sheet impact of these contingent repurchase obligations on the company and its token-based capital structure.
The most recent analyst rating on (ATON) stock is a Sell with a $0.58 price target. To see the full list of analyst forecasts on AlphaTON Capital stock, see the ATON Stock Forecast page.
On December 30, 2025, AlphaTON Capital Corp entered into a Settlement Agreement and Release with DWF MaaS Limited to resolve disputes over rights and obligations arising from an August 25, 2025 Treasury Management Agreement under which DWF had been appointed to manage a portion of AlphaTON’s TON treasury strategy. The settlement follows DWF’s September 25, 2025 subscription for 105,000 ordinary shares and pre-funded warrants to purchase up to 2,513,240 additional shares for $15 million, as well as a separate issuance of 160,000 restricted shares that were to vest over three years. Under the terms of the Settlement Agreement, AlphaTON will repurchase the previously issued shares and pre-funded warrants from DWF for $15 million (or the remaining amount in the original funding wallet), remove vesting restrictions on the 160,000 restricted shares, pay DWF $35,000, and mutually release all claims, while terminating both the Treasury Management Agreement and the Restricted Share Agreement, effectively unwinding the earlier financing and management arrangements with DWF.
The most recent analyst rating on (ATON) stock is a Sell with a $0.58 price target. To see the full list of analyst forecasts on AlphaTON Capital stock, see the ATON Stock Forecast page.
On December 19, 2025, AlphaTON Capital Corp announced that board member Alexander Pickett had resigned from the company’s board of directors, effective immediately, a governance change that may prompt adjustments to the board’s composition and committee assignments. The resignation was formally reported in a Form 6-K filed on December 23, 2025, which also confirms the company’s continued use of existing SEC registration statements, underscoring that this leadership change comes as AlphaTON maintains its established capital markets framework for investors.
On November 25, 2025, AlphaTON Capital Corp announced the filing of a prospectus supplement with the SEC for the sale of up to $15,307,818 of its ordinary shares under an At-The-Market Offering Agreement with Chardan Capital Markets. This move is part of a strategic effort to raise capital through flexible market transactions, potentially impacting the company’s financial operations and market presence.
On November 19, 2025, AlphaTON Capital Corp issued a press release stating that ATW Partners provided an $18.5 million equity line, which was later retracted on November 20, 2025, clarifying no such agreement exists. The company emphasized its strategic initiatives, including asset accumulation and partnerships, to enhance its position in the digital asset space. AlphaTON has executed significant allocations in digital assets and strategic acquisitions, such as a 51% interest in GAMEE and an acquisition agreement for Blockchain Wire. The company is also launching initiatives like the AlphaTON World Tour to attract institutional capital and has formed strategic alliances to support its operations.
AlphaTON Capital Corp announced a significant management change with the departure of Andrea Park as Chief Financial Officer and the appointment of Wes Levitt to the role, effective October 24, 2025. The company has entered into an independent contractor agreement with Mr. Levitt, which includes a comprehensive compensation package with a base fee, performance bonuses, and equity grants. This change is expected to impact the company’s financial strategy and operations, potentially influencing its market positioning and stakeholder relations.
AlphaTON Capital Corp, a company with 6,349,197 ordinary shares outstanding as of October 20, 2025, has filed a report on Form 6-K with the SEC. This filing, dated October 22, 2025, incorporates the report into its registration statements on Form S-8 and Form F-3, potentially impacting its market operations and investor relations.