Strategy Incorporated (MSTR)
NASDAQ:MSTR
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Earnings Data
Report Date
Aug 04, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
24.37Last Year’s EPS
32.6Same Quarter Last Year
Strong Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational momentum: large and growing Bitcoin holdings (818k BTC), aggressive capital raises (~$11.7B YTD), rapid adoption and liquidity of the STRC product (~$8.5B outstanding, $375M/day trading), and clear strategic optionality (scenarios to accrete BTC per share, retire convertibles, and fund dividends). Key risks remain mark-to-market volatility (Q1 unrealized loss ~$14.5B and reported net loss $12.8B), compression of USD reserve coverage, and execution/communication risk around selling Bitcoin. Management presented multiple quantitative scenarios and stress tests and reiterated a long-term buy-and-hold thesis with active capital-markets tools. On balance, the positives — growth in BTC per share, rapid STRC adoption and liquidity, and diversified funding optionality — outweigh the near-term mark-to-market losses and volatility-related risks.Company Guidance
Largest Corporate Bitcoin Holder and Strong Balance Sheet
Held 818,334 Bitcoin (~3.9% of all Bitcoin), market capitalization of $62 billion, digital asset market value ~ $64B (as of May 1 price), average purchase price ~$70,000 per BTC, long-term debt unchanged at $8.2B, equity increased to $9B, and cash & cash equivalents (USD reserve) ~$2.2–2.25B — positioning the company as a well-capitalized corporate Bitcoin treasury.
Significant Capital Raises and Product Adoption (STRC)
Raised ~$11.7B of capital so far in 2026 (about half common equity, half preferred), STRC outstanding reached ~$8.5B in nine months, STRC 30-day average trading volume ~$375M/day (≈25x the second-largest preferred), STRC notional liquidity growth from $54M to ~$300M daily (Jan→Apr), and STRC reached an 11.5% dividend yield with Sharpe ratio ~2.53.
Bitcoin Per Share Growth and BTC Yield
Bitcoin per share increased from 181,030 sats (May 2025) to 213,371 sats (May 2026), an ~18% year-over-year increase; year-to-date BTC yield of 9.4% (versus 22.8% for full year 2025); generated ~63,110 BTC gains YTD (≈62% of 2025 full-year BTC gains) representing roughly $5B of dollar gain YTD.
Continued Bitcoin Accumulation
Acquired 89,599 BTC in Q1 (~$7.3B at avg. ~$80,900) and an additional 56,235 BTC quarter-to-date (~$4.1B at avg. ~$73,400), demonstrating continued buy-and-hold accumulation despite price volatility.
MNAV / Amplification / Leverage Profile
Dollar Bitcoin reserve implying MNAV ~1.27 (expanded since the start of the year), preferred equity of ~$13.5B representing ~34% amplification, net leverage around 9% (net debt ≈$6B; net leverage vs. BTC reserve ~9.3%), and corporate messaging that current structure provides low balance-sheet risk and optionality to issue credit products collateralized by Bitcoin.
Robust Distribution and Reach
MSTR distribution reach includes ~1,400 institutions, ~927,000 retail accounts, ~1,300 ETFs and funds and an estimated ~100 million beneficiaries; STRC distribution notable with ~80% retail ownership and ~3 million households benefiting from STRC so far.
Product & Strategy Momentum and Concrete Targets
Management target to double Bitcoin per share in seven years (~10% annualized BTC yield target); strategic levers articulated (sell MSTR, issue STRC, recycle proceeds to buy BTC, retire convertible debt, manage USD reserve) with scenario modelling showing accretion and various BTC-yield outcomes (e.g., 20% STRC issuance → theoretical BTC yield ~17.7% and additional ~144k BTC accumulation).
Risk Resilience and Stress Case
Management presented a stress case showing that even after a 91% Bitcoin price decline (to roughly ~$7,300/BTC) the Bitcoin reserve would still be sufficient to cover net debt (1x BTC rating), highlighting a high level of collateral coverage under extreme downside scenarios.
MSTR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MSTR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $186.90 | $186.82 | -0.04% |
Feb 05, 2026 | $106.99 | $134.93 | +26.11% |
Oct 30, 2025 | $254.57 | $269.51 | +5.87% |
Jul 31, 2025 | $401.86 | $366.63 | -8.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Strategy Incorporated (MSTR) report earnings?
Strategy Incorporated (MSTR) is schdueled to report earning on Aug 04, 2026, After Close (Confirmed).
What is Strategy Incorporated (MSTR) earnings time?
Strategy Incorporated (MSTR) earnings time is at Aug 04, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MSTR EPS forecast?
MSTR EPS forecast for the fiscal quarter 2026 (Q2) is 24.37.
