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Strategy Inc, together with its subsidiaries, operates as a bitcoin treasury company in the United States, Europe, the Middle East, Africa, and internationally. It offers investors varying degrees of economic exposure to Bitcoin by offering a range of securities, including equity and fixed income instruments. The company also provides AI-powered enterprise analytics software, including Strategy One, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making. In addition, the company provides Strategy Mosaic, a universal intelligence layer that offers enterprises with consistent definitions and governance across data sources, regardless of where that data resides or which tools access it. The company was formerly known as MicroStrategy Incorporated and changed its name to Strategy Inc in August 2025. The company was incorporated in 1989 and is headquartered in Tysons Corner, Virginia.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $477M | $-5.4B | $-3.8B | $-22.6B | -8.7% | 3.0% | 229.8% |
| 2024 | $463M | $-1.9B | $-1.2B | $-22.1B | -6.4% | -6.6% | -371.9% |
| 2023 | $496M | $-61M | $429M | $-1.9B | 19.8% | -0.6% | -129.2% |
| 2022 | $499M | $-1.3B | $-1.5B | $-287M | 383.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 477.23 |
| Operating Revenue | 419.56 |
| Cost Of Revenue | 149.42 |
| Gross Profit | 327.82 |
| Operating Expense | 368.72 |
| Research And Development | 93.86 |
| Selling General And Administration | 274.86 |
| Total Expenses | 518.14 |
| Operating Income | -40.91 |
| Total Operating Income As Reported | -5,444.38 |
| EBITDA | -5,435.47 |
| Normalized EBITDA | -31.99 |
| EBIT | -5,460.99 |
| Interest Expense | 64.97 |
| Net Interest Income | -64.97 |
| Other Non Operating Income Expenses | -16.60 |
| Other Income Expense | -5,420.08 |
| Interest Expense Non Operating | 64.97 |
| Net Non Operating Interest Income Expense | -64.97 |
| Pretax Income | -5,525.95 |
| Tax Provision | -1,677.80 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -1,642.66 |
| Net Income Continuous Operations | -3,848.15 |
| Net Income From Continuing And Discontinued Operation | -3,848.15 |
| Net Income From Continuing Operation Net Minority Interest | -3,848.15 |
| Net Income | -3,848.15 |
| Net Income Common Stockholders | -4,229.52 |
| Net Income Including Noncontrolling Interests | -3,848.15 |
| Normalized Income | -87.33 |
| Diluted NI Availto Com Stockholders | -4,229.52 |
| Basic Average Shares | 277.66 |
| Diluted Average Shares | 277.66 |
| Reconciled Depreciation | 25.52 |
| Reconciled Cost Of Revenue | 149.42 |
| Total Unusual Items | -5,403.48 |
| Total Unusual Items Excluding Goodwill | -5,403.48 |
| Preferred Stock Dividends | 381.37 |
| Special Income Charges | 0 |
| Other Special Charges | - |
| Impairment Of Capital Assets | 0 |
| Gain On Sale Of Security | -5,403.48 |
| General And Administrative Expense | 151.91 |
| Other Gand A | 151.91 |
| Total Other Finance Cost | - |
| Selling And Marketing Expense | 122.96 |
| Average Dilution Earnings | 0 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Strategy Incthis co. | MSTR | $45.5B | -11.83 | 1.03 | -8.7% | -9.47 |
| Microchip Technology Incorporated | MCHP | $52.2B | 439.41 | 8.12 | 1.8% | 48.80 |
| ON Semiconductor Corporation | ON | $51.3B | 423.57 | 6.68 | 1.6% | 58.67 |
| Autodesk, Inc. | ADSK | $49.3B | 43.89 | 16.20 | 36.9% | 25.05 |
| Garmin Ltd. | GRMN | $46.7B | 28.04 |
| - |
| - |
| - |
| - |
| - |
| 5.20 |
| 18.5% |
| 21.58 |
| Block, Inc. | XYZ | $42.2B | 32.32 | 1.90 | 5.9% | 11.66 |
| Jabil Inc. | JBL | $39.4B | 60.03 | 26.07 | 43.4% | 23.86 |
| Workday, Inc. | WDAY | $36.5B | 52.71 | 4.68 | 8.9% | 23.75 |
| Paychex, Inc. | PAYX | $35.6B | 21.51 | 8.63 | 40.1% | 15.67 |
| Peer Median | - | 48.30 | 7.40 | 13.7% | 23.80 | |