MSTR
Strategy Inc167.50
+5.42+3.34%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
No elective dilutive BTC issuances
Q&A clarified management won't repeat recent dilutive equity issuances diluting Bitcoin per share unless essential to defend credit quality, with the $2.25B USD reserve now providing 2-3 years dividend coverage and flexibility for convert redemptions. Analysts pressed on quantum risks, Fed policy impacts, and convert refinancing; responses reaffirmed reactive capital allocation via ATMs, consensus-driven Bitcoin upgrades, and no urgency on puts absent extreme BTC drops to $8K. Team expressed M&A skepticism to avoid distracting from Stretch primacy. Balance sheet unbreakable. Confident tone signals focus on seasoning Stretch liquidity amid volatility; investors watch institutional credit demand.
Key Stats
Market Cap
48.13BP/E (TTM)
6.88Basic EPS (TTM)
24.35Dividend Yield
0%Recent Filings
8-K
ATM sales fund BTC buys
Strategy Inc sold 3.8M STRC shares and 6.3M MSTR shares under its ATM program March 2-8, netting $377.1M and $899.5M, then deployed $1.28B to buy 17,994 BTC at $70,946 average. Total holdings hit 738,731 BTC with $56.04B aggregate cost. ATM amendment allows dual agents outside regular hours. Funds fuel bitcoin hoard.
8-K
ATM sales fund BTC buys
Strategy Inc sold 1.73M MSTR shares and 71,590 STRC shares under its ATM program from Feb 23 to Mar 1, 2026, netting $237.1M total, which funded 3,015 BTC purchases at $67,700 average price, boosting holdings to 720,737 BTC. STRC dividend rate rose to 11.50% effective Mar 1, with quarterly dividends declared payable Mar 31. Tax treatment expected as return of capital.
8-K
ATM funds buy 592 BTC
Strategy Inc sold 297,940 MSTR shares under its ATM program from February 17-22, 2026, netting $39.7 million. It deployed those proceeds to acquire 592 BTC at an average $67,286 per coin, boosting holdings to 717,722 BTC with aggregate cost $54.56 billion. No preferred stock sales occurred. Purchases funded directly from ATM.
10-K
FY2025 results
Strategy Inc's FY2025 delivered massive bitcoin treasury expansion to 672,500 coins (up 50% y/y), yet Q4 hammered with $17.44B unrealized loss on digital assets as BTC plunged from Q3's $3.89B gain, capping annual $5.40B loss partially offset by $1.55B tax benefit. Software revenues ticked 3% to $477M amid on-prem-to-cloud shift, with subscriptions surging 65% while support dipped 16%. Debt swelled to $8.25B; new $2.25B USD Reserve backs preferred dividends ($381M paid). Q4 momentum stalled on BTC volatility. Bitcoin price swings threaten liquidity.
8-K
ATM sales fund BTC buys
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