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MicroStrategy Incorporated Income Statement 2025-2008 | MSTR
Brief overview of profit and loss at MicroStrategy Incorporated
The figures are compared over a five-year interval. Revenue reported by MicroStrategy Incorporated was $481 million at the beginning of the period and $477 million at the end. Overall revenue changed by −0.7%, equal to an annualized rate of about −0.1%. Revenue was effectively stagnant over the period.
Gross profit changed from $390 million to $328 million (−15.9%). The cost base moved against the top-line trend and weighed on the gross result. Comparing the endpoints gives gross margins of 81.1% and 68.7%. The margin decline reflects a less favorable sales-and-cost structure.
The operating result measured by EBITDA moved from −$293 thousand to −$5.4 billion, or −1849343%. The operating result developed less favorably than sales. EBITDA margin was −0.1% at the start and −1135.5% at the end. A lower EBITDA share weakens the quality of the result.
Comparing the endpoints shows a move from −$7.5 million to −$3.8 billion. Larger losses indicate rising pressure on the business.
Over the period, capitalization shifted from 7.3 billion dollars to 35.7 billion dollars (+390.9%). The market value rose well beyond the pace of financial improvement.
Financial takeaway
The financial trajectory is weak and requires a cautious interpretation. Caution is warranted because of weaker gross profitability, limited revenue growth and a narrow EBITDA buffer. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement MicroStrategy Incorporated
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
35.7 B | 63.9 B | 97.8 B | 33.4 B | 4.44 B | 7.27 B | 1.57 B | 1.45 B | 1.58 B | 2.28 B | 1.96 B | 1.83 B | 1.42 B | 1.11 B | 1.24 B | 85.4 M | 56.3 M | - |
Shares |
278 M | 193 M | 137 M | 113 M | 10 M | 9.68 M | 10.3 M | 11.4 M | 11.4 M | 11.4 M | 11.4 M | 11.3 M | 11.3 M | 11 M | 10.7 M | 11.4 M | 11.9 M | - |
Historical Prices |
128 | 332 | 715 | 295 | 443 | 750 | 135 | 142 | 128 | 192 | 161 | 178 | 129 | 102 | 136 | 7.51 | 4.73 | 7.78 |
Net Income |
-3.85 B | -1.17 B | 429 M | -1.47 B | -535 M | -7.52 M | 34.4 M | 22.5 M | 17.6 M | 90.9 M | 106 M | 5.04 M | 83.3 M | 20.5 M | 17.9 M | 43.8 M | 74.8 M | - |
Revenue |
477 M | 463 M | 496 M | 499 M | 511 M | 481 M | 486 M | 498 M | 505 M | 512 M | 530 M | 580 M | 576 M | 595 M | 562 M | 455 M | 378 M | - |
Cost of Revenue |
149 M | 129 M | 110 M | 103 M | 91.9 M | 91.1 M | 100 M | 99.5 M | 96.6 M | 93.1 M | 101 M | 135 M | 139 M | 153 M | 142 M | 106 M | 66.6 M | - |
Gross Profit |
328 M | 334 M | 386 M | 396 M | 419 M | 390 M | 386 M | 398 M | 408 M | 419 M | 429 M | 445 M | 437 M | 442 M | 420 M | 348 M | 311 M | - |
Operating Income |
-5.44 B | -1.85 B | -115 M | -1.28 B | -785 M | -13.6 M | -1 M | 3.98 M | 73.2 M | 110 M | 134 M | 5.1 M | 19.4 M | 33.1 M | 20.9 M | 50.6 M | 86.3 M | - |
Interest Expense |
-16.6 M | 3.51 M | -5.2 M | 6.41 M | 2.29 M | -7.04 M | 28.4 M | 4.65 M | -6.95 M | 3.22 M | 3.56 M | 5.78 M | -3.19 M | -1.04 M | 764 K | 3.98 M | -1.46 M | - |
EBITDA |
-5.42 B | -1.84 B | -101 M | -1.26 B | -773 M | -293 K | 15.7 M | 7.68 M | 86.9 M | 125 M | 156 M | 45.1 M | 45.8 M | 54.7 M | 33.6 M | 56.8 M | 91.3 M | - |
Operating Expenses |
5.77 B | 2.19 B | 501 M | 1.67 B | 1.2 B | 403 M | 387 M | 394 M | 334 M | 311 M | 294 M | 425 M | 418 M | 412 M | 405 M | 298 M | 225 M | - |
General and Administrative Expenses |
152 M | 141 M | 115 M | 111 M | 95.5 M | 80.1 M | 86.7 M | 86.1 M | 80.2 M | 79.5 M | 80.7 M | 96.3 M | 105 M | 97.3 M | 89.4 M | 81.6 M | 54.6 M | - |
All numbers in USD currency
Quarterly Income Statement MicroStrategy Incorporated
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
353 M | 334 M | 284 M | 275 M | 256 M | 197 M | 17.9 M | 172 M | 142 M | 13.2 M | 11.8 M | - | 11.3 M | 11.3 M | 11.3 M | - | 10 M | 9.75 M | 9.65 M | - | 9.62 M | 9.74 M | 9.98 M | - | 10.3 M | 10.2 M | 10.3 M | - | 11.5 M | 11.5 M | 11.4 M | - | 11.4 M | 11.4 M | 11.4 M | - | 11.4 M | 11.4 M | 11.4 M | - | 11.4 M | 11.3 M | 11.3 M | - | 11.3 M | 11.3 M | 11.3 M | - | 11.3 M | 11.3 M | 11.3 M | - | 11 M | 10.9 M | 10.8 M | - | 10.7 M | 10.7 M | 10.7 M |
Net Income |
-8.22 B | -12.5 B | 2.79 B | 10 B | -4.22 B | -340 M | -103 M | -53.1 M | -143 M | 22.2 M | 461 M | -250 M | -27.1 M | -1.06 B | -131 M | -90 M | -36.1 M | -299 M | -110 M | 2.66 M | -14.2 M | 2.66 M | 2.66 M | 12.2 M | 12.2 M | 12.2 M | 12.2 M | 3.3 M | 3.3 M | 3.3 M | 3.3 M | -25.5 M | 18.2 M | 9.95 M | 15.6 M | 31.1 M | 26.6 M | 18.9 M | 14.3 M | 39.1 M | 23.9 M | 22.5 M | 20.5 M | 22.7 M | -845 K | -10.3 M | -6.48 M | 16.1 M | 17.1 M | -1.55 M | 51.6 M | 8.24 M | 4.76 M | 7.27 M | 272 K | 9 M | 4.92 M | 2.88 M | 1.13 M |
Revenue |
122 M | 124 M | 129 M | 114 M | 111 M | 116 M | 111 M | 115 M | 129 M | 120 M | 122 M | - | 125 M | 122 M | 119 M | - | 128 M | 125 M | 123 M | 131 M | 127 M | 111 M | 111 M | 134 M | 120 M | 118 M | 115 M | 132 M | 122 M | 121 M | 123 M | 138 M | 126 M | 119 M | 122 M | 140 M | 130 M | 123 M | 119 M | 144 M | 130 M | 133 M | 124 M | 149 M | 151 M | 142 M | 138 M | 166 M | 142 M | 138 M | 130 M | 156 M | 136 M | 135 M | 138 M | 160 M | 142 M | 138 M | 122 M |
Cost of Revenue |
40.8 M | 40.9 M | 38 M | 35.8 M | 34 M | 34.3 M | 30.9 M | 30 M | 26.7 M | 27.1 M | 27.9 M | - | 25.4 M | 25.2 M | 25.7 M | - | 22.3 M | 23 M | 22.5 M | - | 21.7 M | 24 M | 24.5 M | - | 23.8 M | 25.4 M | 26.2 M | - | 23.4 M | 25 M | 25.2 M | - | 24.4 M | 24.4 M | 23.1 M | - | 22.9 M | 24.1 M | 22.8 M | - | 24.7 M | 25.9 M | 27.1 M | - | 35 M | 35.6 M | 33 M | - | 33.3 M | 36.4 M | 35.9 M | - | 34.8 M | 34.1 M | 35.7 M | - | 36.7 M | 34.5 M | 33.2 M |
Gross Profit |
81.6 M | 83.4 M | 90.7 M | 78.7 M | 77.1 M | 81.7 M | 80.5 M | 85.2 M | 103 M | 93.3 M | 94 M | - | 100 M | 96.9 M | 93.6 M | - | 106 M | 102 M | 100 M | 111 M | 106 M | 86.6 M | 86.9 M | 109 M | 95.9 M | 92.4 M | 89.2 M | 106 M | 98.8 M | 95.6 M | 97.8 M | 112 M | 102 M | 94.8 M | 99.1 M | 117 M | 107 M | 99 M | 96.2 M | 120 M | 105 M | 107 M | 96.8 M | 117 M | 116 M | 106 M | 105 M | 133 M | 109 M | 101 M | 94.3 M | 120 M | 101 M | 101 M | 103 M | 123 M | 105 M | 104 M | 88.9 M |
Operating Income |
-8.33 B | -14.5 B | 3.89 B | 14 B | -5.92 B | -433 M | -200 M | -204 M | -25.2 M | -26.7 M | -20.3 M | - | 6.06 M | -918 M | -170 M | - | -49.7 M | -414 M | -183 M | - | -20.3 M | 6.33 M | -72 K | - | 4.59 M | -4.83 M | -10.4 M | - | 7.22 M | -1.8 M | 715 K | - | 21.2 M | 14.1 M | 20.8 M | - | 30 M | 21.1 M | 19.8 M | - | 30.7 M | 34.8 M | 22.6 M | - | -6.99 M | -12.7 M | -8.35 M | - | 11.6 M | -2.05 M | -8.66 M | - | 7.3 M | 10.5 M | 1.62 M | - | 1.54 M | 3.47 M | 1.08 M |
Interest Expense |
214 K | 3.12 M | -716 K | -8.27 M | -3.94 M | -5.03 M | 694 K | 1.7 M | 2.42 M | -250 K | -1.44 M | - | 4.9 M | 5.12 M | 2.22 M | - | 1.26 M | -897 K | 2.39 M | - | -2.97 M | -2 M | 434 K | - | 1.88 M | 29.4 M | -596 K | - | 798 K | 4.46 M | -1.59 M | - | -1.9 M | -2.62 M | -1.86 M | - | -473 K | 1.76 M | -1.67 M | - | 766 K | -2.92 M | 4.75 M | - | 4.93 M | -474 K | -1.12 M | - | -3.21 M | -419 K | 1.71 M | - | -112 K | 1 M | -124 K | - | 969 K | -316 K | -631 K |
EBITDA |
-8.31 B | -14.5 B | - | 14 B | -5.91 B | - | - | -201 M | - | - | -16.9 M | - | 13 M | -918 M | -167 M | - | -41 M | -414 M | -180 M | - | -10.9 M | 12.2 M | 2.68 M | - | 10 M | -1.21 M | -8.73 M | - | 10.7 M | 2.07 M | 4.01 M | - | 33.2 M | 22.6 M | 25.3 M | - | 43.1 M | 29.9 M | 24.3 M | - | 46.9 M | 45.1 M | 27.7 M | - | 12.3 M | 534 K | -1.64 M | - | 31.2 M | 11.1 M | -2.2 M | - | 23.5 M | 21.3 M | 7.54 M | - | 14.4 M | 11.3 M | 4.7 M |
Operating Expenses |
8.41 B | 14.6 B | -3.8 B | -14 B | 6 B | 514 M | 281 M | 289 M | 128 M | 120 M | 114 M | - | 93.9 M | 1.01 B | 264 M | - | 155 M | 517 M | 284 M | - | 126 M | 80.3 M | 87 M | - | 91.3 M | 97.2 M | 99.6 M | - | 91.5 M | 97.4 M | 97.1 M | - | 80.4 M | 80.8 M | 78.3 M | - | 77 M | 78 M | 76.4 M | - | 74.1 M | 72.3 M | 74.1 M | - | 123 M | 119 M | 113 M | - | 97 M | 104 M | 103 M | - | 93.9 M | 90.8 M | 101 M | - | 104 M | 100 M | 87.8 M |
General and Administrative Expenses |
39.9 M | 37.4 M | 38.2 M | 36.5 M | 40.5 M | 33.5 M | 36.1 M | 34.7 M | 29.2 M | 28.8 M | 27.9 M | - | 27.3 M | 28.5 M | 26.7 M | - | 23.8 M | 22.9 M | 21.7 M | - | 19.7 M | 19.4 M | 21.3 M | - | 19.9 M | 21.2 M | 22.6 M | - | 20.3 M | 21.3 M | 22.2 M | - | 19.1 M | 19.6 M | 20.3 M | - | 19.7 M | 21.1 M | 22.2 M | - | 19.8 M | 21.1 M | 22.1 M | - | 24.8 M | 25.3 M | 26.3 M | - | 24.3 M | 26.6 M | 26.4 M | - | 22.5 M | 23.1 M | 23.7 M | - | 21.6 M | 22.3 M | 23.3 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company MicroStrategy Incorporated (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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