Strategy cuts FY2025 earnings guidance and sets up a $1.44 billion USD Reserve
Strategy lowered its fiscal 2025 earnings guidance because the ranges now assume a year-end bitcoin price of $85,000 to $110,000, down from the $150,000 assumed in its October 30, 2025 guidance. The company also established a $1.44 billion USD Reserve, funded with proceeds from at-the-market sales of its class A common stock, to cover dividends and interest, and appointed Thomas C. Chow as General Counsel.
- FY2025 net income guidance is now $(5.5) billion to $6.3 billion; the company's presentation shows the prior target at $24 billion.
- FY2025 diluted EPS guidance is now $(17) to $19 per share, versus $80 per share previously; operating income guidance is $(7.0) billion to $9.5 billion, versus $34 billion previously.
- The USD Reserve of $1.44 billion currently covers 21 months of dividends; the company's minimum target is 12 months and its goal is 24 months or more.
- Thomas C. Chow was appointed Executive Vice President and General Counsel effective immediately on December 1, 2025, succeeding Wei-Ming Shao, who retired.