MSTR (Strategy Inc) Stock Financials & Earnings

MSTRStrategy Inc

Mkt Cap$39B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Revenue (TTM)$477M

Net Income (TTM)-$4.0B

EPS (TTM)-$18.40

Free Cash Flow (TTM)-$78M

Gross Margin68.7%

Op. Margin-1140.8%

Net Margin-844.8%

FCF Margin-16.3%

P/S Ratio (TTM)81.7x

P/E Ratio (TTM)—

YoY Rev Growth+3.0%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$122M	$94M	-$20M
Q2 23	$120M	$93M	-$27M
Q3 23	$129M	$103M	-$25M
Q4 23	$124M	$96M	-$43M
Q1 24	$115M	$85M	-$204M
Q2 24	$111M	$81M	-$200M
Q3 24	$116M	$82M	-$433M
Q4 24	$121M	$87M	-$1.0B
Q1 25	$111M	$77M	-$5.9B
Q2 25	$114M	$79M	$14.0B
Q3 25	$129M	$91M	$3.9B
Q4 25	$123M	$81M	-$17.4B

Valuation

Operating Cash Flow

Capital Expenditures

CapEx

OpEx vs Revenue Growth (YoY)

Stock-Based Compensation

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$31M	$28M	$36M
Q2 23	$29M	$29M	$38M
Q3 23	$30M	$29M	$36M
Q4 23	$30M	$29M	$40M
Q1 24	$29M	$35M	$33M
Q2 24	$30M	$36M	$34M
Q3 24	$33M	$34M	$35M
Q4 24	$26M	$36M	$35M
Q1 25	$24M	$41M	$28M
Q2 25	$24M	$37M	$34M
Q3 25	$23M	$38M	$30M
Q4 25	$23M	$37M	$32M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	2.2%	21.6%	23.8
Q2 23	-1.4%	-19.7%	-21.1
Q3 23	3.3%	-15.5%	-12.2
Q4 23	-6.1%	-35.0%	-41.1
Q1 24	-5.5%	-172.6%	-178.1
Q2 24	-7.4%	-175.8%	-183.3
Q3 24	-10.3%	-391.6%	-402.0
Q4 24	-3.0%	-832.8%	-835.8
Q1 25	-3.6%	-5329.1%	-5332.7
Q2 25	2.7%	12257.0%	12259.8
Q3 25	10.9%	3026.1%	3037.0
Q4 25	1.9%	-14184.4%	-14182.5

Revenue Segments

Quarter	License	Maintenance	Subscription And Circulation	Technology Service
Q1 23	$17M	$65M	$19M	$20M
Q2 23	$16M	$66M	$20M	$19M
Q3 23	$24M	$67M	$21M	$18M
Q4 23	$18M	$65M	$22M	$19M
Q1 24	$13M	$63M	$23M	$17M
Q2 24	$9M	$62M	$24M	$16M
Q3 24	$11M	$61M	$28M	$16M
Q4 24	$15M	$58M	$32M	$15M
Q1 25	$7M	$53M	$37M	$14M

Revenue by Geography

Quarter	E M E A	North America	Other Regions
Q1 23	$38M	$70M	$14M
Q2 23	$37M	$71M	$12M
Q3 23	$40M	$72M	$17M
Q4 23	$41M	$71M	$13M
Q1 24	$38M	$64M	$13M
Q2 24	$37M	$64M	$11M
Q3 24	$39M	$64M	$13M
Q4 24	$42M	$67M	$12M
Q1 25	$38M	$63M	$10M
Q2 25	$39M	$65M	$10M
Q3 25	$42M	$75M	$12M
Q4 25	$43M	$69M	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$94M	$0	$94M
Q2 23	$66M	$0	$66M
Q3 23	$45M	$0	$45M
Q4 23	$47M	$0	$47M
Q1 24	$81M	$0	$81M
Q2 24	$67M	$0	$67M
Q3 24	$46M	$0	$46M
Q4 24	$38M	$0	$38M
Q1 25	$62M	$0	$62M
Q2 25	$50M	$0	$50M
Q3 25	$54M	$0	$54M
Q4 25	$2.3B	$0	$2.3B

Shares Outstanding

Revenue Per Employee

Revenue / Employee