10x Insights
Loading account…
MSTR

Strategy Inc

Information TechnologyFinance Services
Ticker MSTRTYSONS CORNER, VAFiscal year ends DecemberBook value per share $89.97Diluted shares 343.3M

Strategy Inc (Nasdaq: MSTR) combines a bitcoin treasury business with enterprise analytics software. It acquires and holds bitcoin, using common stock, preferred securities and debt offerings to fund purchases, and issues preferred instruments designed to provide investors with differing forms of economic exposure to… From the company’s description.

In fiscal 2025, Strategy Inc reported revenue of $477.23M, up 3.0% from fiscal 2024, and a net loss of $3.85B. Its pre-tax margin was −1140.8%. Over the twelve months to Jun 30, 2026, revenue was $498.35M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$477.23MFY2025
+3.0% year over year
Last 12 mo $498.35M
-1140.82%FY2025
−741 percentage points
Last 12 mo -7295.38%
$-3.85BFY2025
−229.8% year over year
Last 12 mo $-30.41B
-8.72%FY2025
−16 percentage points
Last 12 mo -98.47%
Cash & financing
$-67.24MFY2025
−26.8% year over year
Last 12 mo $-20.09M
$-112.45MFY2025
−69.1% year over year
Last 12 mo $-41.19M
0.19FY2025
Was 0.39× a year earlier
Last 12 mo 0.22
277.7MFY2025
+44.2% year over year
Last 12 mo 343.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Strategy Inc does

In the company’s own words

Strategy Inc (Nasdaq: MSTR) combines a bitcoin treasury business with enterprise analytics software. It acquires and holds bitcoin, using common stock, preferred securities and debt offerings to fund purchases, and issues preferred instruments designed to provide investors with differing forms of economic exposure to its common stock and bitcoin holdings. Its operating software business provides Strategy One, a cloud-native business intelligence and analytics platform, and Strategy Mosaic, a data layer for consistent definitions and governance across data sources. Products support reporting, dashboards, embedded analytics, data modeling and generative AI tools for medium and large enterprises across industries, as well as public-sector organizations. The company operates these activities as bitcoin treasury operations and enterprise analytics software; the filing does not provide segment revenue shares. As of February 13, 2026, it held approximately 717,131 bitcoins. Strategy reported $[not provided] in revenue for fiscal 2025. Formerly MicroStrategy Incorporated, it changed its name to Strategy Inc in August 2025. Its website is www.strategy.com.

Company details
Sector
Information Technology
Industry (SIC)
Finance Services
Headquarters
TYSONS CORNER, VA
Fiscal year end
December
CIK
1050446
SIC
6199

Financial performance, year by year

Fiscal 2013–2025 · USD
$-33.51B$-24.22B$-14.92B$-5.62B$3.68B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Strategy Inc — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

350
funds hold it
0 of 35
superinvestors hold it
$11.83B
held by funds, at market
27.8%
of shares held by funds
6
bond issues held by funds

Largest fund holders · Strategy Inc’s weight in each

1.04%of fund net assets
0.55%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.04%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.28%of fund net assets
0.12%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Strategy Inc’s bonds, as funds hold them

Funds report holding 6 issues of Strategy Inc’s debt, $779.67M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 0.60%, maturing 2028 to 2032.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Strategy Inc and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Strategy Inc's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Strategy Inc's last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.