MicroStrategy (MSTR) is trading down at $143.24 (-5.87%) on NASDAQ, as of the latest quote. It is a Nasdaq-100 constituent in the Information Technology sector.
Analyst price targets on MSTR
One firm's current price target on MicroStrategy: $175 — 22% above the current $143. Each is tracked to its date and scored the same way a member's call is.
- Canaccord Genuity $127 → $175 by Aug 2027 Aug 25, 2026 via Yahoo Finance · Canaccord Genuity's track record
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
MicroStrategy revenue & net income history (FY2016–FY2025)
| FY2016Dec 2016 | FY2017Dec 2017 | FY2018Dec 2018 | FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $513.6M | $503.8M | $497.6M | $486.3M | $480.7M | $510.8M | $499.3M | $496.3M | $463.5M | $477.2M |
| Growth (year over year) | −3.1% | −1.9% | −1.2% | −2.3% | −1.1% | +6.2% | −2.3% | −0.6% | −6.6% | +3.0% |
| Gross profit | $420.4M | $407.2M | $398.1M | $386.4M | $389.7M | $418.9M | $396.3M | $386.3M | $334.0M | $327.8M |
| Gross margin | 81.9% | 80.8% | 80.0% | 79.4% | 81.1% | 82.0% | 79.4% | 77.8% | 72.1% | 68.7% |
| Operating income | $109.5M | $73.2M | $3.98M | −$1.00M | −$13.6M | −$784.5M | −$1.28B | −$115.0M | −$1.85B | −$5.44B |
| Operating margin | 21.3% | 14.5% | 0.8% | −0.2% | −2.8% | −153.6% | −255.5% | −23.2% | −399.8% | −1140.8% |
| Net income | $92.2M | $18.2M | $22.5M | $34.4M | −$7.52M | −$535.5M | −$1.47B | $429.1M | −$1.17B | −$3.85B |
| Net margin | 18.0% | 3.6% | 4.5% | 7.1% | −1.6% | −104.8% | −294.4% | 86.5% | −251.7% | −806.3% |
| EPS (diluted) | $0.80 | $0.16 | $0.20 | $0.33 | −$0.08 | −$5.34 | −$12.98 | $2.64 | −$6.06 | −$15.23 |
| Balance sheet | ||||||||||
| Cash and equivalents | $402.0M | $420.2M | $109.9M | $456.7M | $59.7M | $63.4M | $43.8M | $46.8M | $38.1M | $2.30B |
| Total assets | $768.3M | $933.2M | $855.8M | $916.6M | $1.47B | $3.56B | $2.41B | $4.76B | $25.8B | $61.6B |
| Total liabilities | $216.1M | $327.5M | $326.0M | $408.0M | $912.6M | $2.58B | $2.79B | $2.60B | $7.61B | $10.6B |
| Long-term debt | — | — | — | — | $486.4M | $2.16B | $2.38B | $2.18B | $7.19B | $8.16B |
| Shareholders' equity | $566.3M | $605.7M | $529.7M | $508.6M | $446.2M | $979.0M | −$383.1M | $2.16B | — | $44.1B |
| Cash flow | ||||||||||
| Operating cash flow | $110.6M | $78.3M | $10.6M | $60.9M | $53.6M | $93.8M | $3.21M | $12.7M | −$53.0M | −$67.2M |
| Capital expenditure | $2.34M | $3.98M | $6.85M | $10.2M | $3.65M | $2.71M | $2.49M | $2.94M | $2.98M | $8.21M |
| Free cash flow | $108.3M | $74.3M | $3.78M | $50.7M | $50.0M | $91.1M | $725.0K | $9.77M | −$56.0M | −$75.5M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 | — | — | — | — | — |
| Share buybacks | $0 | $0 | $111.0M | $72.7M | $123.2M | $0 | $0 | — | — | — |
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $116.1M | $120.7M | $111.1M | $114.5M | $128.7M | $123.0M | $124.3M | $122.4M |
| Growth (year over year) | −10.3% | −3.0% | −3.6% | +2.7% | +10.9% | +1.9% | +11.9% | +6.9% |
| Gross profit | $81.7M | $86.5M | $77.1M | $78.7M | $90.7M | $81.3M | $83.4M | $81.5M |
| Gross margin | 70.4% | 71.7% | 69.4% | 68.8% | 70.5% | 66.1% | 67.1% | 66.6% |
| Operating income | −$432.6M | −$1.02B | −$5.92B | $14.0B | $3.89B | −$17.4B | −$14.5B | −$8.33B |
| Operating margin | −372.7% | −842.1% | −5331.4% | 12256.3% | 3023.4% | −14185.0% | −11641.5% | −6808.1% |
| Net income | −$340.2M | −$670.8M | −$4.22B | $10.0B | $2.79B | −$12.4B | −$12.5B | −$8.22B |
| Net margin | −293.1% | −555.8% | −3797.2% | 8752.7% | 2164.1% | −10112.1% | −10090.6% | −6717.1% |
| EPS (diluted) | −$1.72 | −$3.46 | −$16.49 | $32.60 | $8.42 | −$39.76 | −$38.25 | −$24.45 |
| Balance sheet | ||||||||
| Cash and equivalents | $46.3M | $38.1M | $60.3M | $50.1M | $54.3M | $2.30B | $2.21B | $1.71B |
| Total assets | $8.34B | $25.8B | $43.9B | $64.8B | $73.6B | $61.6B | $54.3B | $52.6B |
| Total liabilities | $4.57B | $7.61B | $10.4B | $14.4B | $15.5B | $10.6B | $8.63B | $7.24B |
| Long-term debt | $4.21B | $7.19B | $8.14B | $8.16B | $8.17B | $8.16B | $8.17B | $6.67B |
| Shareholders' equity | $3.77B | — | $32.2B | $47.5B | $52.3B | $44.1B | $36.7B | $30.9B |
| Cash flow | ||||||||
| Operating cash flow | −$41.0M | −$17.3M | −$2.39M | −$34.9M | −$8.31M | −$21.6M | $14.0M | −$4.14M |
| Capital expenditure | $426.0K | $284.0K | $2.74M | $2.09M | $2.80M | $584.0K | $952.0K | $1.77M |
| Free cash flow | −$41.4M | −$17.6M | −$5.13M | −$37.0M | −$11.1M | −$22.2M | $13.0M | −$5.91M |
From MicroStrategy's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About MicroStrategy
Strategy Inc., stylized as Strategy₿ and formerly known as MicroStrategy, is an American company that provides business intelligence (BI) and mobile software. Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is a public company headquartered in Tysons Corner, Virginia, in the Washington metropolitan area. Its primary business analytics competitors include SAP SE Business Objects, IBM Cognos, and Oracle Corporation's BI Platform. Saylor is the executive chairman and, from 1989 to 2022, was the CEO.
Source: Wikipedia — MicroStrategy
- Headquarters
- Tysons Corner, Virginia From SEC filings, Oct 2026
Company profile
Strategy Inc changed its name from MicroStrategy Incorporated on August 11, 2025, according to its annual report for fiscal 2025 (Form 10-K). In that 10-K it describes itself as the world's first and largest Bitcoin Treasury Company and says it is also an industry leader in AI-powered enterprise analytics software. It announced its first acquisition of bitcoin in August 2020; in September 2020 its board adopted a Treasury Reserve Policy under which bitcoin serves as the primary treasury reserve asset, and in the first quarter of 2021 it adopted a corporate strategy of acquiring and holding bitcoin, including with the proceeds of capital raising transactions. In 2025 it issued five classes of perpetual preferred stock (STRF, STRC, STRE, STRK and STRD), which it collectively calls "digital credit", and in December 2025 it established a US dollar reserve (USD Reserve) to support the payment of dividends on its preferred stock and interest on its outstanding indebtedness; the 10-K gives the USD Reserve balance as $2.25 billion on February 13, 2026.
The software business sells Strategy One, which the 10-K calls an AI-powered business intelligence platform combining interactive dashboards, enterprise reports, AI agents and embedded analytics, and Strategy Mosaic, which it calls a universal data layer. In fiscal 2025 total revenues were $477,233 thousand: product licenses $39,674 thousand, subscription services $175,657 thousand, product support $204,225 thousand and other services $57,677 thousand. The 10-K reports a loss from operations of $5,444,385 thousand, after an unrealized loss on digital assets of $5,403,476 thousand, and a net loss of $3,848,152 thousand; after dividends on preferred stock of $381,367 thousand, the net loss attributable to common stockholders of Strategy was $4,229,519 thousand, and the diluted loss per share was $15.23. The company adopted the fair value accounting standard ASU 2023-08 on January 1, 2025, so changes in the fair value of its bitcoin are now recognized in net income each period (10-K).
At December 31, 2025 the company held approximately 672,500 bitcoins, with a digital asset cost basis of $50,435,331 thousand and a fair value, which is also their carrying value on the balance sheet, of $58,854,028 thousand, according to the notes to the financial statements in the 10-K. It acquired 225,030 bitcoins during 2025 and says it did not sell any of its bitcoins in 2025, 2024 or 2023. The 10-K also reports approximately 717,131 bitcoins held as of February 13, 2026, acquired at an aggregate purchase price of $54.5 billion, custodied with Coinbase Custody Trust Company, Anchorage Digital Bank and Fidelity Digital Assets. It says its outstanding indebtedness was $8.25 billion at December 31, 2025, and that it had $8.47 billion aggregate notional value of preferred stock outstanding at February 13, 2026.
According to its 10-Q for the quarter ended June 30, 2026 (unaudited), total revenues were $122,368 thousand in the second quarter of 2026 and $246,668 thousand in the first half. The quarter's net loss was $8,219,628 thousand, including an unrealized loss on digital assets of $8,315,365 thousand, and the diluted loss per common share was $24.45. During the quarter the company acquired 85,296 bitcoins and sold approximately 1,395, and at June 30, 2026 it held approximately 846,000 bitcoins with a digital asset cost basis of $63,939,306 thousand and a fair value of $49,672,080 thousand. From the second quarter of 2026 it reports two segments, Software and Bitcoin, instead of one. On May 19, 2026 it repurchased $1.50 billion principal amount of its 2029 convertible notes for $1.38 billion, recording a gain on debt extinguishment of approximately $113.9 million (10-Q).
On June 29, 2026 the company announced what it calls its Digital Credit Capital Framework: a board-approved USD Reserve policy requiring a minimum reserve equal to at least 12 months of expected preferred dividends and interest, a revised STRC dividend rate policy, a repurchase program for up to $1.0 billion of its preferred stock, a repurchase program for up to $1.0 billion of its class A common stock, and a BTC Monetization Program under which it may sell bitcoin for set purposes, including generating up to $1.25 billion of proceeds to fund the USD Reserve. The USD Reserve was $2.40 billion at June 30, 2026. After June 30, 2026 the company sold approximately 2,225 bitcoins for aggregate gross proceeds of approximately $135.2 million, which the 10-Q says were made to fund payment of dividends on preferred stock and to replenish the portion of the USD Reserve used for this purpose, and held approximately 843,775 bitcoins as of July 24, 2026 (10-Q).
The company's principal executive offices are at 1850 Towers Crescent Plaza, Tysons Corner, Virginia, and it had 1,539 employees at December 31, 2025, of whom 448 were based in the United States (10-K). Its class A common stock trades on the Nasdaq Global Select Market under the symbol MSTR. Class A shares carry one vote and class B shares ten; the 10-K says Michael J. Saylor, Chairman of the Board of Directors and Executive Chairman, held 40.1% of the total voting power at December 31, 2025. Phong Le is President and Chief Executive Officer and Andrew Kang is Executive Vice President and Chief Financial Officer, according to the 10-K's signature page.
Revenue by fiscal year, as reported in 10-K
| Fiscal year | Revenue (as reported in 10-K) | Reported as | Filed |
|---|---|---|---|
| 2021 | $510,762 thousand3 | Form 10-K for fiscal year 2021 (year ended December 31, 2021), total revenues, in thousands as filed | Feb 16, 2022 |
| 2022 | $499,264 thousand4 | Form 10-K for fiscal year 2022 (year ended December 31, 2022), total revenues, in thousands as filed | Feb 16, 2023 |
| 2023 | $496,261 thousand5 | Form 10-K for fiscal year 2023 (year ended December 31, 2023), total revenues, in thousands as filed | Feb 15, 2024 |
| 2024 | $463,456 thousand6 | Form 10-K for fiscal year 2024 (year ended December 31, 2024), total revenues, in thousands as filed | Feb 18, 2025 |
| 2025 | $477,233 thousand1 | Form 10-K for fiscal year 2025 (year ended December 31, 2025), total revenues, in thousands as filed (filed as Strategy Inc) | Feb 19, 2026 |
Products
Enterprise Analytics Software Strategy
| Name | Released | What it is |
|---|---|---|
| Strategy One | — | An AI-powered business intelligence platform that combines interactive dashboards, enterprise reports, AI agents and embedded analytics into a single, unified platform. The Form 10-K for fiscal 2025 calls it cloud-native and says enterprises across a wide range of industries use it.1 |
| Strategy Mosaic | — | A universal data layer that, according to the Form 10-K for fiscal 2025, enables organizations to achieve a single source of truth across their data. The 10-K presents it as complementing the Strategy One platform.1 |
| Cloud solution for government (FedRAMP authorized) | — | Strategy's cloud solution for government is authorized to operate under the Federal Risk and Authorization Management Program (FedRAMP) and offers always-on threat monitoring; the 10-K says the authorization was achieved in collaboration with the U.S. Department of Health and Human Services.1 |
| Auto (AI bot) | — | An AI bot that uses a natural language interface to simplify and automate complex functions such as SQL generation, dashboard creation, data discovery, forecasting and key driver analysis. The 10-K says customers can also build their own customized bots.1 |
| HyperIntelligence | — | Presents context-based, click-free insights when a user hovers over keywords on the screen, and can be deployed in mobile, web or custom applications, according to the Form 10-K for fiscal 2025.1 |
| Enterprise Semantic Graph | — | A metadata layer that the Form 10-K for fiscal 2025 says helps ensure data insights are trustworthy, regardless of how far-reaching the applications and users of data may reside.1 |
Licensing Models
| Name | Released | What it is |
|---|---|---|
| Cloud subscription | — | The platform is sold as a cloud subscription or an on-premises license. The 10-K says cloud subscriptions typically run for 36 months and include standard support, with premium support services also available.1 |
| On-premises license (end of support) | — | Customers can deploy the platform on premises, but the Form 10-K for fiscal 2025 says on-premises licenses entered an end-of-support cycle as of January 2025, with full support ending December 31, 2026.1 |
Strategy Professional Services
| Name | Released | What it is |
|---|---|---|
| Strategy Support | — | A global network of Strategy-certified technical support experts that helps customers maintain system availability and resolve issues quickly. Standard support is included with every subscription, with premium options available for extended coverage and additional service (10-K).1 |
| Strategy Consulting | — | Consultants who help design and implement AI-powered analytics solutions tailored to customers' business intelligence needs, according to the Form 10-K for fiscal 2025.1 |
| Strategy Education | — | Free and paid training, delivered worldwide in multiple languages and formats, to help customer teams adopt Strategy products, according to the Form 10-K for fiscal 2025.1 |
Bitcoin Strategy
| Name | Released | What it is |
|---|---|---|
| Digital credit (STRF, STRC, STRE, STRK and STRD preferred stock) | — | In 2025 the company structured and issued five classes of perpetual preferred stock that it says provide differentiated indirect economic exposure to its class A common stock and bitcoin holdings, and which it calls digital credit (Form 10-K for fiscal 2025).1 |
Segments and products
- Software Business (the one reportable segment in fiscal 2025): The 10-K for fiscal 2025 says the company has one reportable operating segment, the Software Business, which designs, develops, markets and sells its enterprise analytics software platform through cloud subscriptions and licensing arrangements and related services (product support, consulting and education). Bitcoin activities sat in a Corporate & Other category that the 10-K says is not an operating segment. For fiscal 2025 the Software Business reported total revenues of $477,233 thousand and net income of $90,656 thousand, and Corporate & Other a net loss of $3,938,808 thousand, which included the unrealized loss on digital assets of $5,403,476 thousand and digital asset custody fees of $17,375 thousand (10-K).1
- Software revenue by type, fiscal 2023 to 2025: Product licenses revenues were $39,674 thousand in fiscal 2025, $48,567 thousand in 2024 and $75,351 thousand in 2023; subscription services, derived from the company's cloud subscription service, $175,657 thousand, $106,776 thousand and $81,179 thousand; product support $204,225 thousand, $243,805 thousand and $263,888 thousand; and other services $57,677 thousand, $64,308 thousand and $75,843 thousand, as reported in the 10-K.1
- Bitcoin holdings and their carrying value as filed: The 10-K's digital assets note reports approximately 189,150 bitcoins held at December 31, 2023, 447,470 at December 31, 2024 and 672,500 at December 31, 2025, with a digital asset cost basis of $5,895,489 thousand, $27,968,248 thousand and $50,435,331 thousand. Before 2025 bitcoin was carried at cost less impairment ($23,909,373 thousand at December 31, 2024, after cumulative impairment losses of $4,058,875 thousand); on adopting ASU 2023-08 on January 1, 2025 the company recorded a cumulative-effect adjustment that raised the carrying value by $17,881,048 thousand, and at December 31, 2025 the carrying value was the fair value of $58,854,028 thousand (10-K).1
- Two reportable segments from the second quarter of 2026: Software and Bitcoin: The 10-Q for the quarter ended June 30, 2026 says the company now has two reportable operating segments. The Software segment designs, develops, markets and sells the enterprise analytics software platform; the Bitcoin segment encompasses its bitcoin treasury operations, including acquiring and holding bitcoin, issuing class A common stock and preferred securities through at-the-market offering programs (ATMs) to fund bitcoin purchases, and maintaining the USD Reserve. For the three months ended June 30, 2026 the Software segment reported revenues of $122,368 thousand and net income of $3,709 thousand, and the Bitcoin segment a net loss of $8,223,337 thousand (10-Q, unaudited).2
Risks
- Bitcoin price volatility and concentration: The 10-K says bitcoin is a highly volatile asset and that the vast bulk of the company's assets are concentrated in its bitcoin holdings, which limits its ability to mitigate risk that could otherwise be achieved by holding a more diversified portfolio of assets. It says fluctuations in the price of bitcoin have in the past influenced and are likely to continue to influence its financial results and the market price of its listed securities (10-K).1
- Fair value accounting and profitability: Since adopting ASU 2023-08 the company recognizes increases and decreases in the fair value of its bitcoin in its results. The 10-K reports an unrealized loss on digital assets of $5.40 billion for fiscal 2025 and says the company may not be able to regain profitability in future periods, particularly if it incurs significant unrealized losses on its digital assets. It also notes that unrealized gains on digital assets do not generate cash (10-K).1
- Funding dividends and interest: The 10-K says the enterprise analytics software business did not generate positive cash flow from operations in fiscal 2025 and is not expected to generate enough to satisfy the company's financial obligations or liquidity needs over the next twelve months. It intends to meet them primarily through sales of class A common stock under its ATM, and says that if it depletes the USD Reserve and cannot secure equity or debt financing, it may be required to sell bitcoin, possibly at prices below its cost basis (10-K).1
- Indebtedness and preferred stock: The company had $8.25 billion of outstanding indebtedness at December 31, 2025 and $8.47 billion aggregate notional value of preferred stock at February 13, 2026, and expects to incur additional indebtedness and issue additional preferred stock as part of its bitcoin strategy. The 10-K says it may be unable to service its indebtedness, which could cause it to default on its debt obligations and could force it into bankruptcy or liquidation (10-K).1
- Custody and cybersecurity: The company holds substantially all of its bitcoin with U.S.-based custodians. The 10-K says that if it or its third-party service providers experience a security breach or cyberattack and unauthorized parties obtain access to its bitcoin, or if its private keys are lost or destroyed, it may lose some or all of its bitcoin, and that bitcoin held with custodians does not enjoy the protections available to cash or securities deposited with institutions regulated by the FDIC or SIPC (10-K).1
- Regulatory classification of bitcoin: The 10-K says bitcoin and other digital assets are relatively novel and subject to significant legal, commercial, regulatory and technical uncertainty, and that a regulatory change reclassifying bitcoin as a security could lead to the company's classification as an investment company under the Investment Company Act of 1940 (10-K).1
- Software business: The company says it derives revenue from a single software platform and related services, primarily through sales to its installed customer base, and that as it transitions customers from a product license model to a cloud subscription model it could face higher rates of attrition and changes in the timing of revenue recognition. In enterprise analytics it names IBM, Microsoft, Oracle, Salesforce and SAP among its competitors (10-K).1
- Executive Chairman's voting control: Class A common stock carries one vote per share and class B common stock ten. At December 31, 2025, Michael J. Saylor, Chairman of the Board of Directors and Executive Chairman, beneficially owned 19,616,680 class B shares, or 40.1% of the total voting power, giving him significant influence over matters requiring stockholder approval, including director elections and extraordinary transactions, according to the 10-K.1
- Stockholder litigation: The 10-K says the company is subject to a putative class action lawsuit, the Dodge Class Action, related to the certificate of amendment it filed on July 7, 2025 to the STRK Stock certificate of designations, in which its directors are also defendants, and that an adverse outcome with substantial costs or damages not covered by insurance could have a material adverse effect on its financial condition and business (10-K).1
Frequently asked questions
- Is MicroStrategy the same company as Strategy?
- Yes. MicroStrategy Incorporated changed its name to Strategy Inc on August 11, 2025, according to its 10-K for fiscal 2025. Its class A common stock still trades on the Nasdaq Global Select Market under the symbol MSTR.
- What does Strategy (MicroStrategy) do?
- It runs a bitcoin treasury strategy, acquiring and holding bitcoin as its primary treasury reserve asset, funding purchases primarily from offerings of its class A common stock and preferred stock, and it sells enterprise analytics software: Strategy One, an AI-powered business intelligence platform, and Strategy Mosaic, a universal data layer, according to its 10-K for fiscal 2025.
- How much bitcoin does Strategy hold?
- Approximately 846,000 bitcoins at June 30, 2026, with a digital asset cost basis of $63,939,306 thousand and a fair value, the balance sheet carrying value, of $49,672,080 thousand, according to its 10-Q (unaudited). The same 10-Q reports approximately 843,775 bitcoins held as of July 24, 2026, after it sold approximately 2,225 bitcoins in July to fund preferred stock dividends and replenish its USD Reserve. At December 31, 2025 it held approximately 672,500 (10-K).
- How is Strategy's bitcoin valued in its accounts?
- Since adopting ASU 2023-08 on January 1, 2025, the company measures its bitcoin at fair value at each reporting date, based on quoted prices on the Coinbase exchange, its principal market, and records changes in fair value in net income. Before 2025 bitcoin was carried at cost less impairment losses (10-K).
- What was Strategy's revenue in 2025?
- Total revenues were $477,233 thousand for fiscal 2025, the year ended December 31, 2025, compared with $463,456 thousand in 2024, according to its 10-K. All of the fiscal 2025 revenue was reported in the Software Business segment, and the 10-K notes that holding bitcoin does not generate any cash flows.
- Why did Strategy report large losses?
- Under fair value accounting, declines in the value of its bitcoin are recorded as unrealized losses. The 10-K reports an unrealized loss on digital assets of $5,403,476 thousand for fiscal 2025 and a net loss of $3,848,152 thousand; the 10-Q reports an unrealized loss on digital assets of $8,315,365 thousand and a net loss of $8,219,628 thousand for the second quarter of 2026 (unaudited).
- What is the USD Reserve?
- A US dollar reserve the company established in December 2025 to support the payment of dividends on its preferred stock and interest on its outstanding indebtedness. Under a policy its board approved in June 2026 it must hold at least 12 months of expected preferred dividends and interest; the balance was $2.40 billion at June 30, 2026 (10-Q).
- What is BTC Yield?
- A company-defined key performance indicator: the percentage change over a period in Bitcoin Per Share (BPS), the ratio between the company's bitcoin holdings and its Assumed Diluted Shares Outstanding. The company reported BTC Yield of 22.8% for fiscal 2025. Its 10-K says BTC Yield is not equivalent to yield in the traditional financial context and is not a measure of the return on investment shareholders may have achieved or can achieve.
- Does Strategy pay a dividend on its common stock?
- No. The 10-K says the company has never declared or paid cash dividends on its class A or class B common stock and has no current plans to do so. Its five series of perpetual preferred stock (STRF, STRC, STRE, STRK and STRD) accrue dividends, payable when, as and if declared by the board.
- Who runs Strategy?
- Phong Le is President and Chief Executive Officer, Andrew Kang is Executive Vice President and Chief Financial Officer, and Michael J. Saylor is Chairman of the Board of Directors and Executive Chairman, according to the 10-K for fiscal 2025. Mr. Saylor held 40.1% of the total voting power at December 31, 2025 through class B shares.
- How many employees does Strategy have?
- The company had 1,539 employees at December 31, 2025, of whom 448 were based in the United States and 1,091 internationally, according to its 10-K, and 1,539 at June 30, 2026, according to its 10-Q.
Sources
- Strategy Inc, formerly MicroStrategy Incorporated (SEC filing), Strategy Inc Form 10-K for the fiscal year ended December 31, 2025, Feb 19, 2026
- Strategy Inc, formerly MicroStrategy Incorporated (SEC filing), Strategy Inc Form 10-Q for the quarterly period ended June 30, 2026 (unaudited), Aug 3, 2026
- MicroStrategy Incorporated (SEC filing), MicroStrategy Incorporated Form 10-K for the fiscal year ended December 31, 2021, Feb 16, 2022
- MicroStrategy Incorporated (SEC filing), MicroStrategy Incorporated Form 10-K for the fiscal year ended December 31, 2022, Feb 16, 2023
- MicroStrategy Incorporated (SEC filing), MicroStrategy Incorporated Form 10-K for the fiscal year ended December 31, 2023, Feb 15, 2024
- MicroStrategy Incorporated (SEC filing), MicroStrategy Incorporated Form 10-K for the fiscal year ended December 31, 2024, Feb 18, 2025
Figures last checked against the sources above on . General information, not investment advice.
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Strategy's Preferred: Fundamentals Behind The Daily Dividends (NASDAQ:MSTR) Strategy's Preferred: Fundamentals Behind The Daily Dividends (NASDAQ:MSTR) Seeking Alpha
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Bitcoin's Days Are Numbered, And So Are Strategy's (NASDAQ:MSTR) Bitcoin's Days Are Numbered, And So Are Strategy's (NASDAQ:MSTR) Seeking Alpha
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Lam Research and MicroStrategy among market cap stock movers on Friday
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MicroStrategy Puts Its Bitcoin Identity on a $250 Pair of Nike Jordans MicroStrategy Puts Its Bitcoin Identity on a $250 Pair of Nike Jordans
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Coinbase, Circle, MicroStrategy stocks surge on crypto rebound
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S&P500, Dow End Lower On US-Iran Flare-Up, While Dow Records Fifth Straight Month Of Gains — NVDA, META, AON, MSTR, TSLA In Focus S&P500, Dow End Lower On US-Iran Flare-Up, While Dow Records Fifth Straight Month Of Gains — NVDA, META, AON, MSTR, TSLA In Focus Stocktwits
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S&P500, Dow End Lower On US-Iran Flare-Up, While Dow Records Fifth Straight Month Of Gains — NVDA, META, AON, MSTR, TSLA In Focus S&P500, Dow End Lower On US-Iran Flare-Up, While Dow Records Fifth Straight Month Of Gains — NVDA, META, AON, MSTR, TSLA In Focus Yahoo Finance
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Wall Street Raised Coinbase and Strategy (MSTR) Targets. Only One Leaves Real Upside
Wall Street Raised Coinbase and Strategy (MSTR) Targets. Only One Leaves Real Upside
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