Companies/Technology/Enterprise analytics software; bitcoin treasury

Strategy

MSTR · NasdaqEarnings Oct 29Tysons Corner, Virginia1.5K employeesWebsite ↗
153.20▲ 2.37%Pooled price · full market data →

What matters nowUpdated 11 h ago

  • Strategy said on October 12 that it bought 250 bitcoin at an average of $86,194 for October 5 to 11, lifting holdings to 848,250 BTC, and repurchased 1,932,145 STRC shares for $192.4 million, with the USD Reserve at $4.88 billion against $5.02 billion in late September 1.
  • MSTR traded at $154.44 on pooled 24/7 venue prices at 11:52 UTC on October 13, up 3.19% from the $149.66 previous close, after drops of 6.23% on October 7 and 5.04% on October 12 that have no attributed cause yet, and a 16.31% rise on September 18 to $153.24 that our records tie to a broad crypto rally (Coinbase +12.41%, bitcoin +5.87%) rather than a company-specific event.
  • As of June 30, trailing revenue was $498.3 million, up 7.79% year over year, while trailing net income was -$30.4 billion and trailing EPS was -$97.22; at a $54.4 billion market cap the price-to-sales ratio was 109.2, and trailing free cash flow was -$26.2 million.
  • Over the last 180 days insiders filed 33 sales for 205,278 shares worth $26.6 million against 3 buys worth $1.0 million, a net outflow of $25.6 million, and the company's ATM programs still had $18.83 billion of common capacity left as of October 4 2.
  • The next dated catalysts are the STRC dividend of $0.50 per share on October 15 and the Q3 2026 results, released after U.S. markets close on October 29 with a webinar that day 3, while a special meeting on October 28 will vote on daily dividends for the STRF, STRC, STRK and STRD preferreds 4; no company-specific odds are listed in our records.

Strategy Inc, formerly MicroStrategy Incorporated (renamed August 11, 2025), runs two businesses under one listing. Its software unit sells the Strategy One business intelligence platform and the Strategy Mosaic data layer to large enterprises, and it reported $477.2 million of 2025 revenue. Its treasury strategy holds bitcoin as the main reserve asset, about 848,000 BTC as of October 4, 2026, and funds purchases mainly by selling Class A common stock and perpetual preferred 'digital credit' securities (STRK, STRF, STRD, STRC) through at-the-market programs.

How it makes money

Software revenue from subscriptions, product support, licenses and other services pays the operating costs, while the bitcoin treasury is financed by equity and preferred sales. Preferred dividends are a large recurring cash obligation, which the company covers with a USD Reserve ($4.88 billion as of October 4, 2026) and a BTC Monetization Program that can sell bitcoin to fund it. Reported GAAP results swing heavily with bitcoin's fair value, so quarterly net income or loss mostly reflects the price of bitcoin, while operating software revenue grows slowly.

Last 12 monthsChart & venues →

86.42138.82191.21Strategy Q2 2026 net loss of $8.22B, or $24.45 a share, on $122.4M revenue1Strategy lifts STRC dividend rate to 12.00% from July 1 record dates2Strategy sells 32 bitcoin for $2.5M, first sale since 2022, to fund preferred dividends3Strategy sells 32 BTC for about $2.5M to fund preferred stock distributions4Strategy retires $1.5B of 2029 convertible notes for about $1.38B cash5Strategy Q1 2026 loss of $12.54B on $124.3M revenue; $14.46B digital-asset markdown6Strategy buys 34,164 bitcoin for $2.54B in April 13-19 period7Dec 31Mar 13May 23Aug 2Oct 12
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Valuation & fundamentalsFull financials →

Market cap$54.01Bpooled price × shares
Enterprise value$59.01B+ net debt $5.00B
P/E (TTM)—EPS $-97.22
EV / EBITDA—EBITDA −$36.33B
P / Sales108.4×EV/Sales 118.4×
P / Book1.7×equity $30.89B
FCF yield-0.0%FCF −$26.2M
Shareholder yield—div — · buyback —
Revenue (TTM)$498.3M7.8% YoY
Last quarter revenue6.9%growth YoY
EPS growth (TTM)-980.6%last Q -175.0%
Gross margin67.6%operating -7295.4%
Net margin-6103.0%EBITDA -7289.2%
ROE-77.6%on average equity
Cash$1.71Bdebt $6.71B
Shares out—diluted 352.5M

TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →

Biggest businessesAll products & projects →

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Enterprise analytics software (Strategy One and Strategy Mosaic)

Q2 2026 revenue $122.4M (+6.9% YoY); subscription services up 54% to $62.9M while product support fell to $40.2M.

Total revenues · Q2 2026
$122.4 million +6.9% vs $114.5M in Q2 2025
Subscription services revenue · Q2 2026
$62.9 million +54% vs $40.8M in Q2 2025
Product support revenue · Q2 2026
$40.2 million vs $52.1M in Q2 2025
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Bitcoin treasury

848,000 BTC as of October 4, 2026, with a $63.97B cost basis (average $75,441 per BTC).

Bitcoin held · Oct 4, 2026
848,000 BTC +334 BTC bought Oct 1-4 for $28.7M; 847,666 BTC at Sep 30
Aggregate bitcoin cost basis · Oct 4, 2026
$63.97 billion average $75,440.7 per BTC
Bitcoin held · Jun 30, 2026
846,000 BTC carrying value $49.67B; cost basis $63.94B
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STRC (Variable Rate Series A Perpetual Stretch Preferred)

Dividend held at 12.00% (semi-monthly, $0.50 per share). Repurchased about 1.77M shares for $176M from Sep 28 to Oct 4, 2026.

Dividend rate · Semi-monthly periods from Sep 16, 2026
12.00% per annum raised from 11.50% for the July 2026 record dates
STRC ATM gross proceeds · Q2 2026
$5.47 billion Q1 2026: $2.07 billion
STRC repurchases · Sep 28-30, 2026
1,033,168 shares for $102.6 million a further 740,634 shares for $73.7M Oct 1-4

Next: Semi-monthly STRC dividend of $0.50 per share payable · 2026-10-15

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STRF (10.00% Series A Perpetual Strife Preferred)

Quarterly dividend $2.50 per share (10.00% a year) declared Aug 31, 2026 for the quarter ending Sep 30. ATM capacity $1.62B.

Dividend rate · Quarter ending Sep 30, 2026
10.00% per annum ($2.50 per quarter)
ATM capacity remaining · Oct 4, 2026
$1.62 billion

Latest newsAll news →

Strategy buys 250 BTC for $21.5M and repurchases $192.4M of STRC, holdings 848,250

Strategy said on October 12 that it bought 250 bitcoin at an average of $86,194 for the period October 5 to 11, lifting holdings to 848,250 BTC.

Capital

Barclays raises Strategy price target to $175 from $160, keeps Overweight

Barclays raised its price target on Strategy to $175 from $160 on October 9, 2026, and kept its Overweight rating.

Analysts

Strategy sets Q3 2026 results for Oct 29 after the close, webinar at 5:00 p.m. ET

Strategy announced on October 8 that it will release third-quarter 2026 results after U.S.

Earnings

Strategy holds 848,000 BTC after buying 334 BTC for $28.7M in Oct 1-4

An 8-K filed October 5, 2026 shows Strategy bought 334 bitcoin for $28.7 million between October 1 and 4, lifting holdings to 848,000 BTC, after no purchases on September 28 to 30.

Capital

Strategy keeps STRC at 12.00% and declares $0.50 dividend for period ending Oct 31

An 8-K reporting events of September 30 and signed October 1 says Strategy will keep the STRC dividend rate at 12.00% from the periods starting October 16.

Capital

Strategy 8-K: 1,665 BTC bought for $142.7M, holdings 847,666; STRC buybacks of $151.7M

Strategy's 8-K filed September 28 covers September 21 to 27.

Capital