Loading…
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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 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 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 499.26 | 496.26 | 463.46 | 477.23 |
| Cost Of Revenue | - | 102.99 | 109.94 | 129.47 | 149.42 |
| Gross Profit | - | 396.28 | 386.32 | 333.99 | 327.82 |
| Operating Expense | - | 385.73 | 385.51 | 397.10 | 368.72 |
| Operating Income | - | 10.54 | 0.80 | -63.12 | -40.91 |
| EBITDA | - | -1,258.46 | -61.04 | -1,854.60 | -5,435.47 |
| EBIT | - | -1,269.33 | -75.56 | -1,872.40 | -5,460.99 |
| Pretax Income | - | -1,322.46 | -124.52 | -1,934.35 | -5,525.95 |
| Tax Provision | - | 147.33 | -553.65 | -767.68 | -1,677.80 |
| Net Income | - | -1,469.80 | 429.12 | -1,166.66 | -3,848.15 |
| Net Income Common Stockholders | -535.48 | -1,469.80 | 429.12 | -1,166.66 | - |
| Total Expenses | - | 488.72 | 495.46 | 526.57 | 518.14 |
| Interest Expense | - | 53.14 | 48.96 | 61.94 | 64.97 |
| Research And Development | - | 127.43 | 120.53 | 118.49 | 93.86 |
| Selling General And Administration | - | 258.30 | 264.98 | 278.62 | 274.86 |
| Normalized EBITDA | - | 27.83 | 10.13 | -41.80 | -31.99 |
| Normalized Income | - | -453.63 | 485.34 | -73.55 | -87.33 |
| Market Cap | 59,674.91 | 59,674.91 | 59,674.91 | 59,674.91 | 59,674.91 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Strategy Incthis co. | MSTR | - | -15.51 | 1.35 | -8.7% | -12.07 |
| Akamai Technologies, Inc. | AKAM | $13.8B | 31.02 | 2.82 | 9.1% | 13.99 |
| FormFactor, Inc. | FORM | $12.0B | 222.39 | 11.68 | 5.3% | 111.80 |
| GoDaddy Inc. | GDDY | $11.9B | 13.11 | 53.34 | 406.8% | 11.07 |
| Gen Digital Inc. | GEN | $11.8B | 17.93 | 5.08 |
| - |
| - |
| - |
| - |
| 28.3% |
| 9.30 |
| Zebra Technologies Corporation | ZBRA | $11.6B | 26.73 | 3.12 | 11.7% | 16.15 |
| Gartner, Inc. | IT | $11.3B | 13.94 | 31.77 | 228.0% | 9.11 |
| Jack Henry & Associates, Inc. | JKHY | $11.0B | 24.00 | 5.13 | 21.4% | - |
| Sanmina Corporation | SANM | $10.4B | 42.67 | 4.46 | 10.4% | 20.60 |
| Peer Median | - | 25.37 | 5.11 | 16.5% | 13.99 | |