- Revenue: $111.1M, -3.6% YoY
- Net Loss: $(4.23)B vs $(53.1)M in Q1 FY2024
- BTC $ Gain YTD: $5.8B, 58% of 2025 target
CEO Phong Le: "We successfully executed our record $21B common stock ATM, adding 301,335 BTC to our balance sheet while achieving a 50% increase in MSTR share price."
🌱Revenue & Growth
- Total Revenue: $111.1M, -3.6% YoY
- Subscription Services: $37.1M, +61.6% YoY
- Product Licenses & Subscription Services: $44.4M, +23.6% YoY
- Product Support: $52.5M, -16.2% YoY
- Other Services: $14.2M, -15.0% YoY
💰Profits & Health
- Gross Profit: $77.1M, 69.4% margin vs 74.0% YoY
- Operating Expenses: $6.0B, +1,976% YoY (includes $5.9B unrealized digital asset loss)
- Net Loss: $(4.23)B or $(16.49)/share vs $(53.1)M or $(0.31)/share
- Cash & Equivalents: $60.3M, +$22.2M vs Dec 31, 2024
- Digital Assets: $43.5B market value, 528,185 BTC at $82,445 average price
📌Business Highlights
- Adopted fair value accounting for Bitcoin (ASU 2023-08), $12.7B uplift to retained earnings
- Completed $21B common stock ATM, raising $6.6B YTD
- Launched $21B preferred stock ATM; $75.7M raised YTD
- Redeemed all $1.05B 2027 convertible notes
- Increased authorized Class A common shares to 10.33B
🔮Future Outlook
- BTC Yield Target for 2025 raised to 25% (prior 15%)
- BTC $ Gain Target for 2025 raised to $15B (prior $10B)
- Q2 fair value gain implied ~$8B based on BTC at ~$97.3K