Strategy Q4 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
- Oct 1 – Dec 31, 2025
- Reported
- Feb 19, 2026
Revenue$0.12B
+2% year over year
Gross profit$0.08B
66% margin
Operating profit−$17.45B
−14185% margin
Net profit−$12.44B
−10112% margin
Net profit is larger than what operations earned, because the statement adds $5.02B below it, under Tax benefit.
The numbers
| 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 |
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