# Strategy Inc: overview

MSTR · Nasdaq · CIK 1050446 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mstr.md) · [Financials](/companies/mstr/financials.md) · [Filings](/companies/mstr/filings.md) · [Insiders](/companies/mstr/insiders.md)

Latest reported revenue: [$122.4m](/filings/0001050446-26-000044.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 3, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001050446-26-000044).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [116](/filings/0001193125-25-262568.md) | [121 d](/filings/0001050446-26-000020.md) | [111](/filings/0001050446-26-000031.md) | [114](/filings/0001050446-26-000044.md) | [129](/filings/0001193125-25-262568.md) | [123 d](/filings/0001050446-26-000020.md) | [124](/filings/0001050446-26-000031.md) | [122](/filings/0001050446-26-000044.md) |
| Gross margin | % | [70.4%](/filings/0001193125-25-262568.md) | [71.7% d](/filings/0001050446-26-000020.md) | [69.4%](/filings/0001050446-26-000031.md) | [68.8%](/filings/0001050446-26-000044.md) | [70.5%](/filings/0001193125-25-262568.md) | [66.1% d](/filings/0001050446-26-000020.md) | [67.1%](/filings/0001050446-26-000031.md) | [66.6%](/filings/0001050446-26-000044.md) |
| Operating margin | % | [(372.7%)](/filings/0001193125-25-262568.md) | [(842.1%) d](/filings/0001050446-26-000020.md) | [(5331.4%)](/filings/0001050446-26-000031.md) | [12256.3%](/filings/0001050446-26-000044.md) | [3023.4%](/filings/0001193125-25-262568.md) | [(14185.0%) d](/filings/0001050446-26-000020.md) | [(11641.5%)](/filings/0001050446-26-000031.md) | [(6808.1%)](/filings/0001050446-26-000044.md) |
| Net margin | % | [(293.1%)](/filings/0001193125-25-262568.md) | [(555.8%) d](/filings/0000950170-25-063536.md) | [(3797.2%)](/filings/0001050446-26-000031.md) | [8752.7%](/filings/0001050446-26-000044.md) | [2164.1%](/filings/0001193125-25-262568.md) | [(10112.1%) d](/filings/0001050446-26-000020.md) | [(10090.6%)](/filings/0001050446-26-000031.md) | [(6717.1%)](/filings/0001050446-26-000044.md) |
| Diluted EPS | $ per share | [(1.72)](/filings/0001193125-25-262568.md) | not reported | [(16.49)](/filings/0001050446-26-000031.md) | [32.60](/filings/0001050446-26-000044.md) | [8.42](/filings/0001193125-25-262568.md) | not reported | [(38.25)](/filings/0001050446-26-000031.md) | [(24.45)](/filings/0001050446-26-000044.md) |
| Free cash flow | $m | [(41.4) d](/filings/0001193125-25-262568.md) | [(17.6) d](/filings/0001050446-26-000020.md) | [(5.1)](/filings/0001050446-26-000031.md) | [(37.0) d](/filings/0001050446-26-000044.md) | [(11.1) d](/filings/0001193125-25-262568.md) | [(22.2) d](/filings/0001050446-26-000020.md) | [13.0](/filings/0001050446-26-000031.md) | [(5.9) d](/filings/0001050446-26-000044.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [511](/filings/0000950170-24-015847.md) | [499](/filings/0000950170-25-021814.md) | [496](/filings/0001050446-26-000020.md) | [463](/filings/0001050446-26-000020.md) | [477](/filings/0001050446-26-000020.md) |
| Gross margin | % | [82.0%](/filings/0000950170-24-015847.md) | [79.4%](/filings/0000950170-25-021814.md) | [77.8%](/filings/0001050446-26-000020.md) | [72.1%](/filings/0001050446-26-000020.md) | [68.7%](/filings/0001050446-26-000020.md) |
| Operating margin | % | [(153.6%)](/filings/0000950170-24-015847.md) | [(255.5%)](/filings/0000950170-25-021814.md) | [(23.2%)](/filings/0001050446-26-000020.md) | [(399.8%)](/filings/0001050446-26-000020.md) | [(1140.8%)](/filings/0001050446-26-000020.md) |
| Net margin | % | [(104.8%)](/filings/0000950170-24-015847.md) | [(294.4%)](/filings/0000950170-25-021814.md) | [86.5%](/filings/0001050446-26-000020.md) | [(251.7%)](/filings/0001050446-26-000020.md) | [(806.3%)](/filings/0001050446-26-000020.md) |
| Diluted EPS | $ per share | [(53.44)](/filings/0000950170-24-015847.md) | [(12.98)](/filings/0000950170-25-021814.md) | [2.64](/filings/0001050446-26-000020.md) | [(6.06)](/filings/0001050446-26-000020.md) | [(15.23)](/filings/0001050446-26-000020.md) |
| Free cash flow | $m | [91.1](/filings/0000950170-24-015847.md) | [0.7](/filings/0000950170-25-021814.md) | [9.8](/filings/0001050446-26-000020.md) | [(56.0)](/filings/0001050446-26-000020.md) | [(75.5)](/filings/0001050446-26-000020.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/mstr/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $3.03bn | 34,902,002 |  | Added +3,460,241 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.69bn | 19,394,284 |  | Added +1,640,399 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $1.43bn | 16,397,900 | Put | Reduced −1,039,700 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $1.33bn | 15,353,408 |  | Added +611,701 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $1.30bn | 14,938,599 |  | Added +861,087 |
| [Tidal Investments LLC](/funds/1600064.md) | 2026-06-30 | $1.21bn | 13,900,800 | Call | Reduced −2,368,400 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $1.11bn | 12,733,300 | Put | Added +3,545,100 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $1.08bn | 12,414,900 | Put | Reduced −2,305,800 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $1.07bn | 12,263,900 | Call | Added +1,570,800 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $1.06bn | 12,218,900 | Call | Reduced −1,188,200 |

## Recent filings

[All 1,596 filings](/companies/mstr/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-11-02 | 08:00 ET | [8-K](/filings/0001193125-26-442707.md) | 7.01 Regulation FD disclosure; 8.01 Other events | 0001193125-26-442707 |
| 2026-10-29 | 16:05 ET | [8-K](/filings/0001193125-26-437776.md) | 3.03 Change to security holders’ rights; 5.03 Amendment to articles or bylaws; 5.07 Shareholder vote results; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-437776 |
| 2026-10-29 | 16:03 ET | [8-K](/filings/0001050446-26-000047.md) | 2.02 Results of operations; 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001050446-26-000047 |
| 2026-10-28 | 10:28 ET | [8-K](/filings/0001193125-26-435451.md) | 8.01 Other events | 0001193125-26-435451 |
| 2026-10-26 | 08:49 ET | [8-K](/filings/0001193125-26-431146.md) | 7.01 Regulation FD disclosure; 8.01 Other events | 0001193125-26-431146 |
| 2026-10-19 | 08:00 ET | [8-K](/filings/0001193125-26-424688.md) | 7.01 Regulation FD disclosure; 8.01 Other events | 0001193125-26-424688 |
| 2026-10-16 | 07:59 ET | [8-K](/filings/0001193125-26-423400.md) | 7.01 Regulation FD disclosure; 8.01 Other events | 0001193125-26-423400 |
| 2026-10-13 | 08:00 ET | [8-K](/filings/0001193125-26-419726.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-419726 |
| 2026-10-05 | 08:00 ET | [8-K](/filings/0001193125-26-413164.md) | 7.01 Regulation FD disclosure; 8.01 Other events | 0001193125-26-413164 |
| 2026-10-05 | 07:55 ET | [DEF 14A](/filings/0001193125-26-413159.md) | Proxy statement, period 2026-10-28 | 0001193125-26-413159 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001050446-26-000020.md), filed Feb 19, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, locked when the 8-K was accepted. It is scored when the 10-Q or 10-K is ingested. [See the target](/leagues/2026q3/targets/544ef261-62d9-4c80-842a-1cfb17af0606)

## About the filer

- CIK: 1050446
- Tickers: MSTR, STRC, STRD, STRF, STRK
- Exchange: Nasdaq
- SIC code: 6199 Finance Services
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Nov 2, 2026, 08:24 ET. No prices; not investment advice.