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Strategy
(NASDAQ:MSTR)
Strategy (MSTR) vs. SPDR S&P 500 ETF (SPY)
Strategy Business Overview & Revenue Model
Strategy Key Performance Indicators (KPIs)
Shows the amount of Bitcoin the company holds, reflecting its strategic investment in cryptocurrency and potential exposure to crypto market volatility.
Main Street DataStrategy Earnings Call Summary
Strategy Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 462.32M | 463.46M | 496.26M | 499.26M | 510.76M | 480.74M |
| Gross Profit | 324.08M | 333.99M | 386.32M | 396.27M | 418.85M | 389.68M |
| EBITDA | 6.65B | -1.85B | -61.04M | -1.26B | -770.88M | 70.41M |
| Net Income | 4.79B | -1.17B | 429.12M | -1.47B | -535.48M | -7.52M |
Balance Sheet | ||||||
| Total Assets | 64.77B | 25.84B | 4.76B | 2.41B | 3.56B | 1.47B |
| Cash, Cash Equivalents and Short-Term Investments | 50.09M | 38.12M | 46.82M | 43.84M | 63.36M | 59.67M |
| Total Debt | 8.21B | 7.26B | 2.25B | 2.45B | 2.23B | 570.69M |
| Total Liabilities | 14.40B | 7.61B | 2.60B | 2.79B | 2.58B | 912.57M |
| Stockholders Equity | 50.37B | 18.23B | 2.16B | -383.12M | 978.96M | 553.04M |
Cash Flow | ||||||
| Free Cash Flow | -34.20B | -22.14B | -1.89B | -287.20M | -2.54B | -1.08B |
| Operating Cash Flow | -95.59M | -53.03M | 12.71M | 3.21M | 93.83M | 53.62M |
| Investing Cash Flow | -34.11B | -22.09B | -1.91B | -278.59M | -2.63B | -1.02B |
| Financing Cash Flow | 34.19B | 22.13B | 1.89B | 265.19M | 2.54B | 563.23M |
Strategy Technical Analysis
Strategy Risk Analysis
Strategy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $61.20B | 62.19 | 42.36% | ― | 12.89% | 1.23% | |
71 Outperform | $60.76B | 102.52 | 6.66% | ― | 14.21% | -62.56% | |
69 Neutral | $45.04B | 379.14 | 4.45% | ― | 26.00% | -25.64% | |
64 Neutral | $64.96B | ― | -40.16% | ― | 27.50% | -49.96% | |
61 Neutral | $34.98B | 7.37 | -10.82% | 1.91% | 8.82% | -8.66% | |
58 Neutral | $43.59B | ― | -21.58% | ― | 19.66% | 15.17% | |
47 Neutral | $95.72B | 31.53 | 18.01% | 0.08% | -3.81% | ― |
Strategy Corporate Events
On August 18, 2025, Strategy Inc. announced updates to its at-the-market offering programs and bitcoin holdings. The company plans to issue MSTR shares to manage debt obligations and fund dividends when its market value is below a certain threshold. Additionally, Strategy Inc. acquired 430 bitcoins during the period from August 11 to August 17, 2025, using proceeds from its ATM programs, reflecting its ongoing commitment to integrating cryptocurrency into its financial strategy.
On August 11, 2025, MicroStrategy Incorporated officially changed its name to Strategy Inc, following an amendment to its Certificate of Incorporation. This name change, approved by the board of directors, does not affect the company’s corporate structure or the trading symbols of its securities on Nasdaq. Additionally, on July 7, 2025, the company filed a Certificate of Amendment to adjust the terms of its 8.00% Series A Perpetual Strike Preferred Stock, aiming to align its liquidation preference with its trading price. The company plans to seek stockholder ratification for this amendment.
On August 11, 2025, Strategy, a company operating under the name MicroStrategy Incorporated, announced updates regarding its at-the-market (ATM) offering programs and bitcoin holdings. During the period from August 4 to August 10, 2025, the company sold 115,169 shares of its STRF ATM, generating net proceeds of $13.6 million. Additionally, Strategy acquired 155 bitcoins at an aggregate purchase price of $18 million, using proceeds from the STRF ATM and a previous initial public offering. These strategic financial moves reflect the company’s ongoing efforts to manage its capital and expand its cryptocurrency portfolio.
On August 4, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. The company completed a public offering of its Variable Rate Series A Perpetual Stretch Preferred Stock, raising approximately $2.47 billion in net proceeds. Additionally, Strategy purchased 21,021 bitcoins using these proceeds, reflecting its ongoing investment strategy in digital assets.
On July 31, 2025, Strategy announced a monthly cash dividend of $0.80 per share for its Variable Rate Perpetual Stretch Preferred Stock, with payments scheduled for August 31, 2025. The company reported record financial results for Q2 2025, with a net income of $10 billion and a diluted EPS of $32.60, driven by significant gains in bitcoin holdings and capital raising activities. Strategy’s strategic initiatives have resulted in a 25% year-to-date increase in Bitcoin per Share, and the company has raised its full-year BTC Yield and BTC $ Gain targets. The introduction of STRC, a high-yield credit instrument, marks a significant expansion in their capital markets platform, reflecting their commitment to innovative financial products.
On July 31, 2025, Strategy announced a sales agreement with several agents to issue and sell shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, with an aggregate offering price of up to $4.2 billion. The company plans to use the proceeds for general corporate purposes, including the acquisition of Bitcoin and working capital. The sales will be conducted as an ‘at the market offering’ and are subject to terms and conditions outlined in the sales agreement. This move is part of Strategy’s broader strategy to leverage its position in the digital asset market and enhance its financial flexibility.
On July 29, 2025, Strategy completed its initial public offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), raising approximately $2.521 billion. This offering, the largest U.S. IPO of 2025, marks a significant milestone for Strategy, as it enhances its Bitcoin holdings to 628,791 bitcoins and introduces a new income-oriented instrument for investors. The STRC stock will trade on the Nasdaq Global Select Market, representing the first U.S. exchange-listed perpetual preferred security issued by a Bitcoin Treasury Company to pay monthly dividends. This move is expected to strengthen Strategy’s position in the market and attract a new group of income-focused investors.
Strategy, operating under the name MicroStrategy Incorporated, is a company involved in the financial sector, focusing on securities and bitcoin holdings. On July 28, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. During the period from July 21 to July 27, 2025, no shares were sold under its ATM programs, and no new bitcoin purchases were made. The company maintains a dashboard on its website to distribute information about its securities and bitcoin holdings, encouraging investors to review this information regularly.
On July 24, 2025, Strategy announced an underwritten offering of 28,011,111 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock at $90 per share, expected to settle on July 29, 2025. The offering is estimated to generate net proceeds of approximately $2.474 billion, which the company plans to use for general corporate purposes, including Bitcoin acquisition and working capital. This strategic financial move positions Strategy to further its market influence in the cryptocurrency space, potentially impacting stakeholders by enhancing its Bitcoin holdings and financial flexibility.
On July 21, 2025, Strategy company faced a class action lawsuit in Delaware’s Court of Chancery, alleging violations of the Delaware General Corporation Law and breach of fiduciary duty by its board of directors. The lawsuit, filed by David Dodge on behalf of shareholders, claims that the company improperly amended the terms of its 8.00% Series A Perpetual Strike Preferred Stock without a shareholder vote, potentially affecting the stock’s liquidation preference. The complaint seeks to invalidate the amendment and demands damages, but the company cannot yet predict the lawsuit’s outcome or potential financial impact.
On July 21, 2025, Strategy announced its intention to conduct an initial public offering of 5,000,000 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, subject to market conditions. The company plans to use the proceeds for general corporate purposes, including acquiring Bitcoin and enhancing working capital. The offering, managed by several financial institutions, is part of Strategy’s broader approach to leverage its position in the Bitcoin market and enhance its financial flexibility.
On July 21, 2025, Strategy announced updates to its at-the-market offering programs and bitcoin holdings. From July 14 to July 20, 2025, the company sold various shares, generating significant proceeds, which were partly used to acquire 6,220 bitcoins. This strategic move highlights Strategy’s ongoing commitment to integrating cryptocurrency into its financial operations, potentially impacting its market position and stakeholder interests.
On July 14, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. Between July 7 and July 13, 2025, the company sold shares worth $472.3 million across various securities, including MSTR, STRK, STRF, and STRD shares. The proceeds from these sales were used to acquire 4,225 bitcoins, increasing the company’s total bitcoin holdings to 601,550. This strategic move highlights Strategy’s ongoing commitment to expanding its cryptocurrency portfolio, potentially impacting its market positioning and stakeholder interests.
On July 7, 2025, Strategy announced a sales agreement to issue and sell shares of its 10.00% Series A Perpetual Stride Preferred Stock, with an aggregate offering price of up to $4.2 billion. This at-the-market offering will be conducted through various sales agents, including TD Securities, Barclays, and Morgan Stanley, among others. The proceeds from this offering are intended for general corporate purposes, including Bitcoin acquisition and working capital. Additionally, Strategy amended a previous sales agreement to include Morgan Stanley as an agent for its Series A Perpetual Strife Preferred Stock offering, and updated risk factors and tax considerations for its STRK Stock offering.
MicroStrategy Incorporated, a company involved in enterprise analytics software and bitcoin investment, has disclosed potential risks related to its financial strategies and market activities. The company faces challenges due to its substantial indebtedness, which could limit its operational flexibility and ability to raise additional capital. This indebtedness could also impact its bitcoin strategy and overall financial stability, potentially affecting the trading price and liquidity of its STRK Stock. Regulatory actions and market conditions may further complicate the implementation of convertible arbitrage strategies by investors, which could depress the trading price of STRK Stock.
On July 1, 2025, MicroStrategy Incorporated, operating as Strategy, announced the election of Peter L. Briger, Jr. to its Board of Directors. Mr. Briger, a seasoned executive with extensive experience at Fortress Investment Group and Goldman Sachs, brings significant expertise to the board. As part of his election, he received equity awards valued at $2,000,000, which will vest over four years. Additionally, the company announced the upcoming retirement of Wei-Ming Shao, its Executive Vice President & General Counsel, effective December 31, 2025, after over 25 years of service. The company plans to search for his successor, with Mr. Shao assisting in the transition.
On June 30, 2025, Strategy announced updates to its at-the-market offering programs and bitcoin holdings. The company sold shares worth $578.1 million from June 23 to June 29, 2025, and acquired 4,980 bitcoins using proceeds from these sales. Additionally, Strategy declared and funded quarterly dividends for its STRK and STRF shares, highlighting its strategic financial maneuvers to bolster its market position.
On June 19, 2025, a shareholder derivative suit was filed against MicroStrategy Incorporated, operating as Strategy, and its officers and directors, alleging breaches of fiduciary duties and other misconduct. The lawsuit claims that the company’s leadership made misleading disclosures regarding the financial risks associated with its bitcoin strategy and failed to maintain adequate internal controls, with some executives accused of insider trading. The company plans to defend against these allegations, but the outcome remains uncertain.
On June 23, 2025, MicroStrategy Incorporated, operating as Strategy, announced updates regarding its at-the-market offering programs and bitcoin holdings. The company reported that between June 16 and June 22, 2025, it sold shares of its STRK and STRF series A perpetual preferred stocks, raising net proceeds of $17.4 million and $8.7 million, respectively. Additionally, Strategy acquired 245 bitcoins during the same period, using proceeds from these offerings, bringing its total bitcoin holdings to 592,345 with an aggregate purchase price of $41,867.5 million.
On June 12, 2025, Strategy held its Annual Meeting of Stockholders, where eight directors were elected for the upcoming year. Additionally, the selection of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified.
On June 16, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. Between June 9 and June 15, 2025, the company sold shares of STRK and STRF preferred stock, raising significant funds. Additionally, Strategy completed a public offering of STRD preferred stock on June 10, 2025, generating approximately $979.7 million in net proceeds. The company also reported acquiring 10,100 bitcoins during the same period, increasing its total bitcoin holdings to 592,100, with purchases funded by proceeds from its stock offerings.
On June 10, 2025, Strategy completed an initial public offering of 11,764,700 shares of its 10.00% Series A Perpetual Stride Preferred Stock (STRD Stock). This issuance allows Strategy to offer non-cumulative dividends at an annual rate of 10% on the stated amount of $100 per share, payable quarterly if declared by the board. The STRD Stock ranks senior to Strategy’s common stock in terms of dividend payments and asset distribution upon liquidation. The company retains the right to redeem the stock under specific conditions, such as a ‘Tax Event’ or if the outstanding shares fall below 25% of the original issuance.
On June 9, 2025, MicroStrategy Incorporated, operating as Strategy, announced updates regarding its at-the-market offering programs and bitcoin holdings. The company sold shares of its series A perpetual strike preferred stock, raising significant proceeds, and acquired additional bitcoin using these funds. The updates reflect Strategy’s ongoing efforts to manage its capital and digital asset portfolio, potentially impacting its financial strategy and market positioning.
On June 5, 2025, Strategy announced an underwriting agreement with Barclays Capital Inc. for the issuance and sale of 11,764,700 shares of its 10.00% Series A Perpetual Stride Preferred Stock at $85.00 per share, expected to settle on June 10, 2025. The offering aims to raise approximately $979.7 million, which will be used for general corporate purposes, including acquiring Bitcoin and working capital. This move is part of Strategy’s broader strategy to strengthen its position in the digital asset market, offering stakeholders potential long-term value creation.
On June 2, 2025, Strategy announced its intention to conduct an initial public offering of 2,500,000 shares of its 10.00% Series A Perpetual Stride Preferred Stock, subject to market conditions. The proceeds from this offering are intended for general corporate purposes, including the acquisition of Bitcoin and working capital. The offering, managed by major financial institutions, is expected to enhance the company’s financial flexibility and support its strategic initiatives in the digital asset space.
On June 2, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. Between May 26 and June 1, 2025, the company sold shares from its STRK and STRF ATM programs, raising a total of $74.6 million. Additionally, Strategy acquired 705 bitcoins for $75.1 million, using proceeds from these ATM programs. The company also declared quarterly cash dividends for its STRK and STRF shares, payable on June 30, 2025. These actions reflect Strategy’s ongoing efforts to enhance its financial position and shareholder value.
On May 26, 2025, Strategy announced updates on its at-the-market offering programs and Bitcoin holdings. During the period from May 19 to May 25, 2025, the company raised $427 million through its ATM programs and acquired 4,020 Bitcoins, bringing its total holdings to 580,250 Bitcoins. This strategic move reinforces Strategy’s position as a major player in the Bitcoin market, potentially impacting its stakeholders by enhancing its digital asset portfolio and market influence.
On May 22, 2025, Strategy announced a sales agreement with TD Securities, Barclays Capital, and The Benchmark Company to issue and sell up to $2.1 billion of its 10.00% Series A Perpetual Strife Preferred Stock. The company plans to use the proceeds for general corporate purposes, including Bitcoin acquisition and working capital, while sales will be conducted through an at-the-market offering. The announcement highlights Strategy’s ongoing commitment to leveraging its financial strategies to enhance its market position and support its Bitcoin-centric treasury strategy.
Strategy, operating under the name MicroStrategy Incorporated, is involved in the technology sector, focusing on bitcoin investments and securities offerings. On May 19, 2025, the company announced updates on its at-the-market offering programs and bitcoin holdings for the period of May 12 to May 18, 2025. They sold 1,712,708 MSTR shares and 621,555 STRK shares, raising a total of $765.4 million. Additionally, they acquired 7,390 bitcoins, bringing their total holdings to 576,230 bitcoins. A class action lawsuit was filed against the company on May 16, 2025, alleging misleading statements regarding their bitcoin investment strategy.