Strategy

MSTR Information Technology Market cap $52.6B as of Sep 14, 2026 16:00 ET outside the index

Q2 FY26 Apr 1 – Jun 30, 2026 reported Aug 3, 2026

Revenue$0.12B +7% year over year

Gross profit$0.08B 67% margin

Operating profit−$8.33B −6808% margin

Net profit−$8.22B −6717% margin

Net profit is larger than what operations earned, because the statement adds $0.11B below it, under Other income, net.

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	0.12	100%	+7%
Subscription & circulation	0.06	52%	+54%
Product support	0.04	33%
Service other	0.02	13%
License	<0.01	3%	−49%
Cost of revenue	−0.04	34%
Gross profit	0.08	67% margin	−2pp
Digital asset losses	−8.32	6816%
R&D	−0.02	19%	−2pp
Sales & marketing	−0.03	28%	−2pp
G&A	−0.04	33%	+1pp
Operating profit	−8.33	−6808% margin	−19064pp
Other income, net	0.11
Net profit	−8.22	−6717% margin	−15470pp

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	0.12	100%	+12%
Subscription & circulation	0.06	48%	+59%
Product support	0.04	35%
Service other	0.02	13%
License	0.01	5%	−24%
Cost of revenue	−0.04	33%
Gross profit	0.08	67% margin	−2pp
Digital asset losses	−14.46	11658%
R&D	−0.03	20%	−2pp
Sales & marketing	−0.04	29%	+4pp
G&A	−0.04	30%	−6pp
Operating profit	−14.47	−11642% margin	−6310pp
Tax benefit and other	1.93
Net profit	−12.54	−10091% margin	−6293pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.12	100%	+2%
US	0.07	56%	+2%
EMEA	0.04	35%	+3%
Other regions	0.01	9%	−5%
Cost of revenue	−0.04	34%
Gross profit	0.08	66% margin	−6pp
R&D	−0.02	19%	−3pp
Sales & marketing	−0.03	26%	−3pp
G&A	−0.04	30%	+0pp
Other	−17.44	14175%	+0pp
Operating profit	−17.45	−14185% margin	−13343pp
Interest & other costs	−0.02
Tax benefit	5.02
Net profit	−12.44	−10112% margin	−9556pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.13	100%	+11%
Maintenance	0.05	39%	−16%
Subscription & circulation	0.05	36%	+65%
License	0.02	13%	+57%
Technology service	0.01	11%	−12%
Cost of revenue	−0.04	29%
Gross profit	0.09	70% margin	+0pp
R&D	−0.02	18%	−11pp
Sales & marketing	−0.03	23%	−7pp
G&A	−0.04	30%	+1pp
Digital asset gains	3.89
Operating profit	3.89	3023% margin	+3396pp
Interest & other costs	−0.02
Tax	−1.09
Net profit	2.79	2164% margin	+2457pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.11	100%	+3%
Maintenance	0.05	46%	−16%
Subscription & circulation	0.04	36%	+70%
Technology service	0.01	12%	−12%
License	0.01	6%	−23%
Cost of revenue	−0.04	32%
Gross profit	0.08	69% margin	−3pp
R&D	−0.02	21%	−6pp
Sales & marketing	−0.03	30%	−1pp
G&A	−0.04	32%	−1pp
Digital asset gains	14.05
Operating profit	14.03	12256% margin	+12436pp
Interest & other costs	−0.03
Tax	−3.99
Net profit	10.02	8753% margin	+8845pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	0.11	100%	−4%
Maintenance	0.05	48%	−16%
Subscription & circulation	0.04	33%	+62%
Technology service	0.01	13%	−15%
License	0.01	6%	−44%
Cost of revenue	−0.03	31%
Gross profit	0.08	69% margin	−5pp
Digital asset losses	−5.91	5321%
R&D	−0.02	22%	−3pp
Sales & marketing	−0.03	25%	−4pp
G&A	−0.04	37%	+6pp
Operating profit	−5.92	−5331% margin	−5155pp
Interest & other costs	−0.02
Tax benefit	1.73
Net profit	−4.22	−3797% margin	−3751pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

Financial health

The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.

Every set of results we hold, newest first. Open one on its own page.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26 Apr 1 – Jun 30, 2026 reported Aug 3, 2026 Operating margin −6808% Net profit −$8.2B	Apr 1 – Jun 30, 2026	Aug 3, 2026	$0.12B	+7%	−6808%	−$8.2B	−6717%
Q1 FY26 Jan 1 – Mar 31, 2026 reported May 6, 2026 Operating margin −11642% Net profit −$12.5B	Jan 1 – Mar 31, 2026	May 6, 2026	$0.12B	+12%	−11642%	−$12.5B	−10091%
Q4 FY25 Oct 1 – Dec 31, 2025 reported Feb 19, 2026 Operating margin −14185% Net profit −$12.4B	Oct 1 – Dec 31, 2025	Feb 19, 2026	$0.12B	+2%	−14185%	−$12.4B	−10112%
Q3 FY25 Jul 1 – Sep 30, 2025 reported Nov 3, 2025 Operating margin 3023% Net profit $2.8B	Jul 1 – Sep 30, 2025	Nov 3, 2025	$0.13B	+11%	3023%	$2.8B	2164%
Q2 FY25 Apr 1 – Jun 30, 2025 reported Aug 5, 2025 Operating margin 12256% Net profit $10.0B	Apr 1 – Jun 30, 2025	Aug 5, 2025	$0.11B	+3%	12256%	$10.0B	8753%
Q1 FY25 Jan 1 – Mar 31, 2025 reported May 5, 2025 Operating margin −5331% Net profit −$4.2B	Jan 1 – Mar 31, 2025	May 5, 2025	$0.11B	−4%	−5331%	−$4.2B	−3797%