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Strategy Inc Common Stock (MSTR)

Nasdaq Information Technology Application Software Nasdaq-100
$128.93
-0.37 (-0.29%)
Close of Nov 06, 2026 · end-of-day data
Source: Strategy Inc Common Stock's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 03, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$513.59M$503.84M$497.64M$486.33M$480.74M$510.76M$499.26M$496.26M$463.46M$477.23M
Cost of revenue$93.15M$96.65M$99.50M$99.97M$91.06M$91.91M$102.99M$109.94M$129.47M$149.42M
Gross profit$420.44M$407.19M$398.14M$386.35M$389.68M$418.85M$396.27M$386.32M$333.99M$327.82M
Research & development$73.14M$78.77M$102.50M$109.42M$103.56M$117.12M$127.43M$120.53M$118.49M$93.86M
Operating income$109.51M$73.22M$3.98M-$1.00M-$13.62M-$784.53M-$1.28B-$115.05M-$1.85B-$5.44B
Pre-tax income$114.93M$71.47M$20.48M$38.26M-$19.95M-$811.39M-$1.32B-$124.53M-$1.93B-$5.53B
Income tax$22.69M$53.28M-$2.02M$3.91M-$12.43M-$275.91M$147.33M-$553.65M-$767.68M-$1.68B
Net income$92.24M$18.20M$22.50M$34.35M-$7.52M-$535.48M-$1.47B$429.12M-$1.17B-$3.85B
EBITDA$129.46M$88.75M$7.68M$7.59M-$293.00K-$773.17M-$1.26B-$100.52M-$1.84B-$5.42B
EPS (basic)$8.07$1.59$1.98$3.35$-0.78$-53.44$-12.98$3.14$-6.06$-15.23
EPS (diluted)$8.01$1.58$1.97$3.33$-0.78$-53.44$-12.98$2.64$-6.06$-15.23
Diluted shares11.52M11.55M11.41M10.33M9.68M10.02M113.21M165.66M192.55M277.66M
Gross margin81.9%80.8%80.0%79.4%81.1%82.0%79.4%77.8%72.1%68.7%
Operating margin21.3%14.5%0.8%-0.2%-2.8%-153.6%-255.5%-23.2%-399.8%-1140.8%
Net margin18.0%3.6%4.5%7.1%-1.6%-104.8%-294.4%86.5%-251.7%-806.3%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$401.98M$420.24M$109.92M$456.73M$59.67M$63.36M$43.84M$46.82M$38.12M$2.30B
Short-term investments$187.41M$254.93M$466.19M$108.92M$0$0$0——$0
Receivables$83.32M$165.36M$171.36M$163.52M$197.46M$189.28M$189.28M$183.81M$181.20M$205.75M
Total current assets$684.99M$860.65M$778.40M$753.45M$272.62M$267.96M$264.57M$267.89M$252.32M$2.56B
Total assets$768.32M$933.22M$855.77M$916.57M$1.47B$3.56B$2.41B$4.76B$25.84B$61.64B
Total current liabilities$185.49M$270.94M$258.27M$269.82M$285.62M$311.99M$317.40M$323.27M$355.38M$456.49M
Short-term debt—————$0$454.00K$483.00K$517.00K$31.31M
Long-term debt————$486.37M$2.16B$2.38B$2.18B$7.19B$8.16B
Total debt————$486.37M$2.16B$2.38B$2.18B$7.19B$8.19B
Total liabilities$216.14M$327.49M$326.04M$408.01M$912.57M$2.58B$2.79B$2.60B$7.61B$10.60B
Shareholders' equity$566.32M$605.73M$529.73M$508.56M$446.19M$978.96M-$383.12M$2.16B$30.98B$44.12B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$110.59M$78.32M$10.63M$60.87M$53.62M$93.83M$3.21M$12.71M-$53.03M-$67.24M
Capital expenditures$2.34M$3.98M$6.85M$10.18M$3.65M$2.71M$2.49M$2.94M$2.98M$8.21M
Free cash flow$108.25M$74.34M$3.78M$50.69M$49.97M$91.13M$725.00K$9.77M-$56.01M-$75.45M
Investing cash flow$4.34M-$69.73M-$209.06M$353.69M-$1.02B-$2.63B-$278.59M-$1.91B-$22.09B-$22.51B
Financing cash flow-$1.00M$1.66M-$108.52M-$66.15M$563.23M$2.54B$265.19M$1.89B$22.13B$24.84B
Dividends paid$0$0$0$0$0—————
Share buybacks$0$0$110.98M$72.72M$123.22M$0$0———
Stock-based compensation$11.82M$14.27M$14.64M$10.21M$11.15M$44.13M$63.62M$69.57M$77.12M$53.37M
Depreciation & amortization$19.94M$15.53M$3.70M$8.59M$13.33M$11.36M$10.87M$14.53M$17.81M$25.52M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.