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MicroStrategy Incorporated

MicroStrategy Incorporated

NASDAQ•MSTR
CEO: Mr. Michael J. Saylor
Sector: Technology
Industry: Software - Application
Listing Date: 1998-06-11
MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions. The company also provides MicroStrategy Support that helps customers achieve their system availability and usage goals through highly responsive troubleshooting and assistance; MicroStrategy Consulting, which provides architecture and implementation services to help customers realize their desired results; and MicroStrategy Education that offers free and paid learning options. In addition, it engages in the development of bitcoin. The company offers its services through direct sales force and channel partners. It serves the U.S. government, state and local governments, and government agencies, as well as a range of industries, including retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications, and the public sector. The company was incorporated in 1989 and is headquartered in Tysons Corner, Virginia.
Contact Information
1850 Towers Crescent Plaza, Tysons Corner, VA, 22182, United States
703-848-8600
www.microstrategy.com
Market Cap
$68.61B
P/E (TTM)
-96.9
86.8
Dividend Yield
--
52W High
$543.00
52W Low
$219.68
52W Range
6%
3.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$128.69M+10.87%
4-Quarter Trend

EPS

$9.30-640.70%
4-Quarter Trend

FCF

$14.45B-993.89%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Income Massive Reversal Nine-month Net Income $8.59B profit versus $495.9M loss in 2024; driven by $12.03B unrealized digital asset gain.
Bitcoin Holdings Significantly Increased Bitcoin holdings grew to 640,031 BTC by period end, funded by $19.48B net cash provided by financing activities.
Basic EPS Strong Turnaround Basic EPS $30.83 for nine months compared to $(2.71)$ loss per share in the prior comparable period.
Software Revenue Modest Growth Total revenues increased 3.4% to $354.2M for nine months; subscription services revenue grew $49.1M year-over-year.

Risk Factors

Bitcoin Price Volatility Exposure Significant bitcoin holdings mean market value changes materially impact earnings due to fair value accounting requirements.
Investing Activities Soar Cash used in investing activities increased sharply to $19.42B, mainly for bitcoin purchases during the nine months.
Preferred Stock Dividend Obligations $197.9M in preferred stock dividends paid year-to-date creates recurring cash obligations impacting liquidity.
Legal Contingencies Remain Active Company faces ongoing shareholder derivative actions and contingent liabilities from the Brazil subsidiary matter.

Outlook

Capital Markets Funding Strategy Company relies substantially on equity and debt markets to fund preferred dividends and ongoing bitcoin accumulation strategy.
New Preferred Stock Offerings Completed four preferred stock IPOs raising significant capital, including $2.47B from STRC Stock issuance in July 2025.
Software Revenue Mix Shift Transition to cloud subscriptions continues, causing product license revenues to decline while subscription revenues increase.
Corporate Tax Uncertainty Easing Interim IRS guidance clarifies excluding unrealized bitcoin gains from CAMT calculation, reducing future tax exposure risk.

Peer Comparison

Revenue (TTM)

Dell Technologies Inc.DELL
$101.33B
+10.3%
Fiserv, Inc.FI
$21.16B
+5.2%
Infosys LimitedINFY
$19.50B
+4.5%

Gross Margin (Latest Quarter)

Cadence Design Systems, Inc.CDNS
95.3%
+8.7 pp
Autodesk, Inc.ADSK
92.3%
+2.5 pp
Workday, Inc.WDAY
84.2%
+8.8 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
DELL$95.94B20.6-200.6%32.2%
CDNS$89.54B84.121.6%25.8%
SNOW$89.35B-65.0-51.5%32.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+2.2%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 3, 2025|
    Revenue: $128.69M+10.9%
    |
    EPS: $9.30-640.7%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $114.49M+2.7%
    |
    EPS: $36.23-6456.1%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $111.07M-3.6%
    |
    EPS: $-16.49+5219.4%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 18, 2025|
    Revenue: $463.46M-6.6%
    |
    EPS: $-6.06-289.4%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $116.07M-10.3%
    |
    EPS: $-1.72+70.3%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $111.44M-7.4%
    |
    EPS: $-0.57-416.7%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 1, 2024|
    Revenue: $115.25M-5.5%
    |
    EPS: $-0.31-107.9%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 15, 2024|
    Revenue: $496.26M-0.6%
    |
    EPS: $3.20+124.7%
    Beat