MSTR: financial statements from SEC — TradeAlmanac

MSTR

Strategy Inc: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Revenue	124m	129m	114m	111m	—	116m	111m
Cost of revenue	41m	38m	36m	34m	—	34m	31m
Gross profit	83m	91m	79m	77m	—	82m	81m
Research and development	25m	23m	24m	24m	—	33m	30m
Selling, general and administrative	37m	38m	37m	41m	—	34m	36m
Operating expenses	14.55bn	−3.80bn	−13.95bn	6.00bn	—	514m	281m
Operating income	−14.47bn	3.89bn	14.03bn	−5.92bn	—	−433m	−200m
Pre-tax income	−14.47bn	3.87bn	14.01bn	−5.94bn	—	−479m	−215m
Income tax	−1.92bn	1.09bn	3.98bn	−1.73bn	—	−139m	−112m
Net income	−12.54bn	2.79bn	10.02bn	−4.22bn	−671m	−340m	−103m
Earnings per share	−38.25	9.30	36.23	−16.49	—	−1.72	−0.57
Earnings per share, diluted	−38.25	8.42	32.60	−16.49	—	−1.72	−0.57
Weighted average shares	334m	284m	275m	256m	—	197m	179m
Weighted average shares, diluted	334m	315m	307m	256m	—	197m	179m

Balance sheet

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	2.21bn	2.30bn	54m	50m	60m	38m	46m	67m
Receivables	122m	206m	113m

Cash flow

Metric	Mar 31, 2026	Mar 31, 2025
Operating cash flow	14m	−2m
Depreciation and amortisation	9m	7m
Share-based compensation	13m	12m
Capital expenditure	952,000	3m
Investing cash flow	−7.25bn	−7.67bn
Financing cash flow	7.15bn

Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)