Strategy Inc

MSTR 10-Q · Q1 2026
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MSTR Q1 2026 request

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Income Statement

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Income Statement
Metric Q1 2026 Q1 2025 YoY
Revenue 124,300 111,066 +11.9%
Show Product Lines breakouts
License 5,501 7,270 -24.3%
Product support 44,190 52,529 -15.9%
Service Other 15,730 14,164 +11.1%
Subscription And Circulation 58,879 37,103 +58.7%
Total product licenses and subscription services 64,380 44,373 +45.1%
Show Business Segments breakouts
Software Business · Operating Segments 124,300 111,066 +11.9%
Show Geography breakouts
EMEA 44,213 37,882 +16.7%
Other Regions 10,811 9,724 +11.2%
US 69,276 63,460 +9.2%
Cost of Revenue 40,946 33,971 +20.5%
Show Product Lines breakouts
License 1,196 964 +24.1%
Product support 6,187 7,354 -15.9%
Service Other 11,092 11,224 -1.2%
Subscription And Circulation 22,471 14,429 +55.7%
Total product licenses and subscription services 23,667 15,393 +53.8%
Gross Profit 83,354 77,095 +8.1%
Sales & Marketing 36,272 27,532 +31.7%
Research & Development 24,665 24,423 +1.0%
General & Administrative 37,357 40,547 -7.9%
Crypto Asset Unrealized Loss Operating 14,455,479 5,906,005 +144.8%
Show Consolidation Items breakouts
Corporate Non Segment 14,455,479 5,906,005 +144.8%
Operating Expenses 14,553,773 5,998,507 +142.6%
Operating Income -14,470,419 -5,921,412 -144.4%
Interest Income Expense Nonoperating Net 1,824 -17,106 +110.7%
Show Business Segments breakouts
Software Business · Operating Segments 92 98 -6.1%
Show Consolidation Items breakouts
Corporate Non Segment 1,732 -17,204 +110.1%
Other Non-Operating Income (Expense) 3,116 -3,936 +179.2%
Income Before Taxes -14,465,479 -5,942,454 -143.4%
Income Tax Expense (Benefit) -1,922,809 -1,725,084 -11.5%
Show Business Segments breakouts
Software Business · Operating Segments 494,830 -22,359 +2313.1%
Show Consolidation Items breakouts
Corporate Non Segment -2,417,639 -1,702,725 -42.0%
Net Income -12,542,670 -4,217,370 -197.4%
Show Business Segments breakouts
Software Business · Operating Segments -489,423 18,128 -2799.8%
Show Equity Components breakouts
Retained Earnings -12,542,670 -4,217,370 -197.4%
Show Consolidation Items breakouts
Corporate Non Segment -12,053,247 -4,235,498 -184.6%
Dividends Preferred Stock -229,527 -10,648 -2055.6%
Net Income Loss Available To Common Stockholders Basic -12,772,197 -4,228,018 -202.1%
Net Income Loss Available To Common Stockholders Diluted -12,772,197 -4,228,018 -202.1%
EPS (Basic) -38.25 -16.49 -132.0%
Wtd Avg Shares (Basic) 333,913 256,473 +30.2%
Show Statement Class Of Stock breakouts
Common Class A 314,273 236,833 +32.7%
Common Class B 19,640 19,640 0.0%
EPS (Diluted) -38.25 -16.49 -132.0%
Wtd Avg Shares (Diluted) 333,913 256,473 +30.2%
Interest Expense (Q) — — —
Show Debt Instrument breakouts
2028 Convertible Notes · Convertible Debt 2,633 2,622 +0.4%
2029 Convertible Notes · Convertible Debt 1,822 1,818 +0.2%
2030A Convertible Notes · Convertible Debt 2,241 2,230 +0.5%
2030B Convertible Notes · Convertible Debt 1,251 513 +143.9%
2031 Convertible Notes · Convertible Debt 1,940 1,932 +0.4%
2032 Convertible Notes · Convertible Debt 5,185 5,168 +0.3%
Show Long-Term Debt Type breakouts
Convertible Debt 15,072 14,684 +2.6%
Comprehensive Income -12,545,412 -4,213,953 -197.7%
Other Comprehensive Income -2,742 3,417 -180.2%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -2,742 3,417 -180.2%
Preferred Stock Dividends Income Statement Impact -229,527 -10,648 -2055.6%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 2,207,219 60,298 +3560.5%
Restricted Cash And Cash Equivalents At Carrying Value 2,026 1,960 +3.4%
Accounts Receivable 122,257 104,585 +16.9%
Prepaid Expenses & Other Current Assets 59,722 36,769 +62.4%
Total Current Assets 2,391,224 203,612 +1074.4%
Non-Current Assets
Property, Plant & Equipment 28,275 28,335 -0.2%
Operating Lease Right-of-Use Assets 58,270 53,070 +9.8%
Deferred Tax Assets 5,043 5,403 -6.7%
Total Assets 54,268,750 43,919,760 +23.6%
Show Business Segments breakouts
Software Business · Operating Segments 476,051 373,681 +27.4%
Show Consolidation Items breakouts
Corporate Non Segment 53,792,699 43,546,079 +23.5%
Other Assets
Crypto Asset Fair Value 51,649,675 — —
Deposits And Other Assets 136,263 83,261 +63.7%
Current Liabilities
Accounts Payable Accrued Expenses And Operating Lease Liabilities Current 44,660 53,716 -16.9%
Employee Related Liabilities Current 33,654 32,785 +2.7%
Interest Payable Current 5,970 5,970 0.0%
Dividends Payable Current 48,153 — —
Current Portion of Long-Term Debt 31,402 525 +5881.3%
Show Long-Term Debt Type breakouts
Other long- term secured debt 31.4 0.5 +6180.0%
Deferred Revenue (Current) 231,218 215,693 +7.2%
Total Current Liabilities 395,057 308,689 +28.0%
Non-Current Liabilities
Long-Term Debt 8,165,122 8,140,156 +0.3%
Contract With Customer Liability Noncurrent 5,224 3,981 +31.2%
Operating Lease Liabilities 60,861 53,691 +13.4%
Other Non-Current Liabilities 4,822 4,439 +8.6%
Deferred Tax Liabilities 1,379 1,883,071 -99.9%
Total Liabilities 8,632,465 10,394,027 -16.9%
Long-Term Debt 8,196,524 9,551 +85718.5%
Show Debt Instrument breakouts
2028 Convertible Notes · Convertible Debt 1,003,791 0 —
2029 Convertible Notes · Convertible Debt 2,984,138 999,587 +198.5%
2030A Convertible Notes · Convertible Debt 790,101 2,976,855 -73.5%
2030B Convertible Notes · Convertible Debt 1,990,366 786,152 +153.2%
2031 Convertible Notes · Convertible Debt 597,462 1,985,365 -69.9%
2031 Convertible Notes · Convertible Debt 597,462 8,140,681 -92.7%
2032 Convertible Notes · Convertible Debt 790,798 595,087 +32.9%
2032 Convertible Notes · Convertible Debt 790,798 — —
Show Long-Term Debt Type breakouts
Convertible Debt 8,156,656 — —
Other long- term secured debt 39,868 788,084 -94.9%
Stockholders' Equity
Temporary Equity Carrying Amount Attributable To Parent 8,984,928 593,624 +1413.6%
Show Equity Components breakouts
Perpetual Preferred Stock 8,984,928 1,304,497 +588.8%
Common Stock (Q) — — —
Show Statement Class Of Stock breakouts
Common Class A 326 247 +32.0%
Common Class B 20 20 0.0%
Additional Paid In Capital Common Stock 43,130,389 25,881,089 +66.6%
Accumulated Other Comprehensive Income -7,913 -11,967 +33.9%
Retained Earnings -6,471,465 6,351,847 -201.9%
Total Stockholders' Equity 36,651,357 32,221,236 +13.7%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -7,913 -11,967 +33.9%
Additional Paid In Capital 43,130,389 25,881,089 +66.6%
Common Stock · Common Class A 326 247 +32.0%
Common Stock · Common Class B 20 20 0.0%
Retained Earnings -6,471,465 6,351,847 -201.9%
Total Liabilities & Equity 54,268,750 43,919,760 +23.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Depreciation & Amortization 8,785 6,575 +33.6%
Operating Lease Right Of Use Asset Amortization Expense 1,527 2,240 -31.8%
Deferred Income Taxes And Tax Credits -1,925,628 -1,728,363 -11.4%
Stock-Based Compensation 13,173 11,819 +11.5%
Amortization of Financing Costs 6,516 6,048 +7.7%
Show Debt Instrument breakouts
2028 Convertible Notes · Convertible Debt 1,055 1,044 +1.1%
2029 Convertible Notes · Convertible Debt 1,822 1,818 +0.2%
2030A Convertible Notes · Convertible Debt 991 980 +1.1%
2030B Convertible Notes · Convertible Debt 1,251 513 +143.9%
2031 Convertible Notes · Convertible Debt 619 611 +1.3%
2032 Convertible Notes · Convertible Debt 685 668 +2.5%
Show Long-Term Debt Type breakouts
Convertible Debt 6,423 6,035 +6.4%
Other Non-Cash Items 492 — —
Change in Accounts Receivable 1,206 10,542 -88.6%
Change in Prepaid & Other Assets -5,982 -7,835 +23.7%
Increase Decrease In Deposit Other Assets 428 -1,519 +128.2%
Increase Decrease In Accounts Payable And Accrued Liabilities -802 -1,431 +44.0%
Increase Decrease In Employee Related Liabilities -38,027 -30,385 -25.2%
Increase Decrease In Interest Payable Net 351 421 -16.6%
Change in Deferred Revenue 41,958 43,289 -3.1%
Increase Decrease In Operating Lease Liabilities And Other Long Term Liabilities -2,817 -2,425 -16.2%
Net Cash from Operations 13,989 -2,389 +685.6%
Investing Activities
Payment For Acquisition Crypto Asset -7,251,126 -7,661,663 +5.4%
Capital Expenditures -952 -2,737 +65.2%
Net Cash from Investing -7,252,078 -7,670,400 +5.5%
Financing Activities
Proceeds From Issuance Of Common Stock 5,298,581 4,407,093 +20.2%
Payments Of Stock Issuance Costs (Q) — — —
Show Statement Class Of Stock breakouts
Common Stock -6,369 -7,129 +10.7%
Preferred Stock -4,543 -31,113 +85.4%
STRC Stock -47,200 — —
STRD Stock -20,514 — —
STRE Stock -11,266 — —
STRF and STRD Stock · At The Market Offering -303 — —
STRF Stock -11,627 — —
STRK Stock -20,774 — —
Proceeds From Issuance Of Preferred Stock And Preference Stock 2,069,957 1,336,938 +54.8%
Show Statement Class Of Stock breakouts
STRC Stock 2,473,800 — —
STRD Stock 979,486 — —
STRE Stock 608,734 — —
STRF Stock 710,873 — —
STRK Stock 563,226 — —
Payments Of Dividends Preferred Stock And Preference Stock -229,527 -9,188 -2398.1%
Show Statement Class Of Stock breakouts
STRC Stock -111,431 — —
STRD Stock -35,061 — —
STRE Stock -22,895 — —
STRF Stock -32,099 — —
STRK Stock -28,041 -9,188 -205.2%
Proceeds From Stock Options Exercised 15,438 9,418 +63.9%
Proceeds From Stock Plans 3,046 2,703 +12.7%
Proceeds From Payments For Other Financing Activities -149 -141 -5.7%
Net Cash from Financing 7,146,434 7,694,305 -7.1%
Supplemental
Interest Paid (Q) — — —
Show Long-Term Debt Type breakouts
Convertible Debt 8.3 8.2 +1.2%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations -2,443 845 -389.1%
Net Change in Cash -94,098 22,361 -520.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 2,209,245 62,258 +3448.5%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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