Strategy Inc Income Statement
MSTR / Financials|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
Strategy Inc reported $477M in revenue and $3.8B in net loss for FY2025. Revenue has declined at a 0.8% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 0.96 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $477.2M | $463.5M | $496.3M | $499.3M | $510.8M | $480.7M | $486.3M | $497.6M | $503.8M | $513.6M | $529.9M | $579.8M | $575.9M | $565.7M | $537.2M |
| Cost of Revenue | $149.4M | $129.5M | $109.9M | $103.0M | $91.9M | $91.1M | $100.0M | $99.5M | $96.6M | $93.1M | $101.1M | $135.2M | $138.6M | $141.1M | $130.7M |
| Gross Profit | $327.8M | $334.0M | $386.3M | $396.3M | $418.9M | $389.7M | $386.4M | $398.1M | $407.2M | $420.4M | $428.8M | $444.6M | $437.3M | $424.6M | $406.5M |
| SG&A Expense | $151.9M | $140.5M | $115.3M | $111.4M | $95.5M | $80.1M | $86.7M | $86.1M | $80.2M | $79.5M | $80.7M | $96.3M | $104.7M | $93.4M | $86.2M |
| R&D Expense | $93.9M | $118.5M | $120.5M | $127.4M | $117.1M | $103.6M | $109.4M | $102.5M | $78.8M | $73.1M | $65.2M | $103.4M | $98.1M | $88.2M | $67.9M |
| Operating Income | -$5.4B | -$1.9B | -$115.0M | -$1.3B | -$784.5M | -$13.6M | -$1.0M | $4.0M | $73.2M | $109.5M | $134.0M | $5.1M | $19.4M | $33.1M | $20.9M |
| Income Tax | -$1.7B | -$767.7M | -$553.6M | $147.3M | -$275.9M | -$12.4M | $3.9M | -$2.0M | $53.3M | $22.7M | $31.9M | $6.0M | -$9.8M | $9.7M | $3.4M |
| Net Income | -$3.8B | -$1.2B | $429.1M | -$1.5B | -$535.5M | -$7.5M | $34.4M | $22.5M | $18.2M | $92.2M | $105.9M | $5.0M | $83.3M | $20.5M | $17.9M |
| EPS (Basic) | $3.14 | -$12.98 | -$53.44 | -$0.78 | $3.35 | $1.98 | $1.59 | $8.07 | $9.33 | $0.45 | $7.37 | $1.87 | $1.67 | $3.85 | $6.28 |
| EPS (Diluted) | $2.64 | -$12.98 | -$53.44 | -$0.78 | $3.33 | $1.97 | $1.58 | $8.01 | $9.18 | $0.44 | $7.37 | $1.84 | $1.62 | $3.72 | $6.09 |
| Shares Outstanding | 165.7M | 113.2M | 10.0M | 9.7M | 10.3M | 11.4M | 11.5M | 11.5M | 11.5M | 11.4M | 11.3M | 11.2M | 11.1M | 11.8M | 12.3M |
| Gross Margin | 68.7% | 72.1% | 77.8% | 79.4% | 82.0% | 81.1% | 79.4% | 80.0% | 80.8% | 81.9% | 80.9% | 76.7% | 75.9% | 75.1% | 75.7% |
| Operating Margin | -1140.8% | -399.8% | -23.2% | -255.5% | -153.6% | -2.8% | -0.2% | 0.8% | 14.5% | 21.3% | 25.3% | 0.9% | 3.4% | 5.9% | 3.9% |
| Profit Margin | -806.3% | -251.7% | 86.5% | -294.4% | -104.8% | -1.6% | 7.1% | 4.5% | 3.6% | 18.0% | 20.0% | 0.9% | 14.5% | 3.6% | 3.3% |