Strategy MSTR
Strategy fiscal 2025 annual report
Fiscal 2025 (ended Dec 31, 2025) · Filed Feb 19, 2026Original
An annual report (10-K, or 20-F for a foreign company) is the business report a US-listed company files with the SEC every year.
How much did Strategy sell in fiscal 2025?
As stated in annual reports · fiscal 2021–2025
Fiscal 2025 revenue
$477.2M+3.0% vs prior year
Net loss $3.8B
| Fiscal year | Revenue | Net income |
|---|---|---|
| 2021 | $510.8M | −$535.5M |
| 2022 | $499.3M | −$1.5B |
| 2023 | $496.3M | $429.1M |
| 2024 | $463.5M | −$1.2B |
| 2025 | $477.2M | −$3.8B |
Fiscal 2025 (ended Dec 31, 2025) · Filed Feb 19, 2026Whalegun
- Revenue
- $477.2M
- +3.0% vs prior year
- Operating income
- −$5.4B
- 1140.8% of revenue
- Net income
- −$3.8B
- 806.3% of revenue
- Diluted EPS
- −$15.23
- Operating cash flow
- −$67.2M
- Free cash flow
- −$75.5M
Key points the company states
Strategy calls itself the largest Bitcoin Treasury Company and also sells enterprise analytics software
- The company calls itself the world's first and largest Bitcoin Treasury Company.
- On Feb 13, 2026 it held about 717,131 bitcoins bought for $54.5 billion in total.
- In 2025 it issued five classes of preferred stock, which it calls digital credit.
Strategy's 2025 revenue was $477.2 million, with a $5.4 billion unrealized loss on bitcoin
- Total revenues rose 3.0% to $477.2 million, with subscription services up 64.5%.
- Product licenses fell 18.3% and product support fell 16.2%, which the company attributes to migration to cloud subscriptions.
- The unrealized loss on digital assets was $5.40 billion, and the loss from operations was $5.44 billion.