Financial Statements · From SEC 10-K & 10-Q XBRL Filings
MicroStrategy Inc. Revenue & Financial Statements
MicroStrategy Inc. reported revenue of $477.2M for the fiscal year ended December 31, 2025, up 3.0% year over year, with net income of $(3.8B) and diluted EPS of $-15.23.
- Company
- MicroStrategy Inc. MSTR · NASDAQ
- Latest fiscal year
- FY ended Dec 31, 2025
- Statements
- Income · Balance Sheet · Cash Flow — 5 fiscal years, 8 quarters
Income Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 510.8M | 499.3M | 496.3M | 463.5M | 477.2M |
| Cost of revenue | 91.9M | 103.0M | 109.9M | 129.5M | 149.4M |
| Gross profit | 418.9M | 396.3M | 386.3M | 334.0M | 327.8M |
| Operating income | (784.5M) | (1.3B) | (115.0M) | (1.9B) | (5.4B) |
| Pretax income | (854.6M) | (1.4B) | (157.8M) | (2.0B) | 52.4M |
| Net income | (535.5M) | (1.5B) | 429.1M | (1.2B) | (3.8B) |
| Diluted EPS | -53.44 | -129.83 | 26.42 | -6.06 | -15.23 |
| EBITDA | (773.2M) | (1.3B) | (100.5M) | (1.8B) | (5.4B) |
Quarterly
| USD | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 115.2M | 111.4M | 116.1M | 120.7M | 111.1M | 114.5M | 128.7M | 123.0M |
| Cost of revenue | 30.0M | 30.9M | 34.3M | 34.2M | 34.0M | 35.8M | 38.0M | 41.7M |
| Gross profit | 85.2M | 80.5M | 81.7M | 86.5M | 77.1M | 78.7M | 90.7M | 81.3M |
| Operating income | (203.7M) | (200.3M) | (432.6M) | (1.0B) | (5.9B) | 14.0B | 3.9B | (17.4B) |
| Pretax income | (213.9M) | (215.0M) | (478.7M) | (1.0B) | (5.9B) | 14.0B | 3.9B | (17.5B) |
| Net income | (53.1M) | (102.6M) | (340.2M) | (670.8M) | (4.2B) | 10.0B | 2.6B | (12.4B) |
| Diluted EPS | -3.09 | -5.74 | -1.72 | -3.35 | -16.49 | 32.60 | 8.42 | -42.94 |
| EBITDA | (200.7M) | — | (426.6M) | (1.0B) | (5.9B) | — | 3.9B | (17.4B) |
Balance Sheet
Fiscal year-end snapshots. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Total assets | 3.6B | 2.4B | 4.8B | 25.8B | 61.6B |
| Current assets | 268.0M | 264.6M | 267.9M | 252.3M | 2.6B |
| Cash & equivalents | 63.4M | 43.8M | 46.8M | 38.1M | 2.3B |
| Total liabilities | 2.6B | 2.8B | 2.6B | 7.6B | 10.6B |
| Current liabilities | 312.0M | 317.4M | 323.3M | 355.4M | 456.5M |
| Long-term debt | 2.2B | 2.4B | 2.2B | 7.2B | 8.2B |
| Total debt | 2.2B | 2.4B | 2.2B | 7.2B | 8.2B |
| Stockholders’ equity | 979.0M | (383.1M) | 2.2B | 18.2B | 44.1B |
| Net debt | 2.1B | 2.3B | 2.1B | 7.2B | 5.9B |
Cash Flow Statement
Annual, as reported in 10-K filings. Values in USD.
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | 93.8M | 3.2M | 12.7M | (53.0M) | (67.2M) |
| Investing cash flow | (2.6B) | (278.6M) | (1.9B) | (22.1B) | (22.5B) |
| Financing cash flow | 2.5B | 265.2M | 1.9B | 22.1B | 24.8B |
| Capital expenditure | 2.7M | 2.5M | 2.9M | 3.0M | 8.2M |
| Free cash flow | 91.1M | 725K | 9.8M | (56.0M) | (75.5M) |
| Dividends paid | — | — | — | — | — |
| Stock-based compensation | 44.1M | 63.6M | 69.6M | 77.1M | 53.4M |
Figures are parsed from SEC XBRL company facts and may be derived where issuers report year-to-date values (quarterly figures differenced; Q4 computed as FY minus Q3). Fiscal periods follow each company's fiscal calendar, not calendar years. Historical fact, not investment advice — verify with official SEC filings.
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