Strategy Q3 FY25: where the revenue came from and where it went
The whole income statement of Strategy for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Nov 3, 2025
Revenue$0.13B
+11% year over year
Gross profit$0.09B
70% margin
Operating profit$3.89B
3023% margin
Net profit$2.79B
2164% margin
The numbers
| 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 |
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