MSTR
MicroStrategy Incorporated
NASDAQ: MSTR · TECHNOLOGY · SOFTWARE - APPLICATION
$158.19
-4.54% today
Updated 2026-04-29
Market cap
$57.97B
P/E ratio
—
P/S ratio
121.47x
EPS (TTM)
$-15.24
Dividend yield
—
52W range
$104 – $457
Volume
19.6M
MicroStrategy Incorporated (MSTR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $313.82M | $350.67M | $360.39M | $377.79M | $454.58M | $537.17M | $565.72M | $575.89M | $579.83M | $529.87M | $513.59M | $503.84M | $497.64M | $486.33M | $480.74M | $510.76M | $499.26M | $496.26M | $463.46M | $477.23M |
| Revenue growth (YoY) | — | +11.7% | +2.8% | +4.8% | +20.3% | +18.2% | +5.3% | +1.8% | +0.7% | -8.6% | -3.1% | -1.9% | -1.2% | -2.3% | -1.1% | +6.2% | -2.3% | -0.6% | -6.6% | +3.0% |
| Cost of revenue | $44.39M | $60.49M | $63.41M | $66.60M | $106.09M | $130.70M | $141.08M | $138.57M | $135.21M | $101.11M | $93.15M | $96.65M | $99.50M | $99.97M | $91.06M | $91.91M | $102.99M | $109.94M | $129.47M | $149.42M |
| Gross profit | $269.44M | $290.18M | $296.99M | $311.19M | $348.49M | $406.47M | $424.65M | $437.32M | $444.62M | $428.76M | $420.44M | $407.19M | $398.14M | $386.35M | $389.68M | $418.85M | $396.27M | $386.32M | $333.99M | $327.82M |
| Gross margin | 85.9% | 82.7% | 82.4% | 82.4% | 76.7% | 75.7% | 75.1% | 75.9% | 76.7% | 80.9% | 81.9% | 80.8% | 80.0% | 79.4% | 81.1% | 82.0% | 79.4% | 77.8% | 72.1% | 68.7% |
| R&D | $34.13M | $36.66M | $30.57M | $41.80M | $50.57M | $67.86M | $88.19M | $98.06M | $103.36M | $65.21M | $73.14M | $78.77M | $102.50M | $109.42M | $103.56M | $117.12M | $127.43M | $120.53M | $118.49M | $93.86M |
| SG&A | $47.03M | $53.67M | $60.93M | $54.61M | $81.60M | $86.24M | $93.38M | $104.73M | $96.34M | $80.73M | $79.46M | $80.16M | $86.13M | $86.70M | $80.14M | $95.50M | $111.42M | $115.31M | $140.54M | $151.91M |
| Operating income | $99.79M | $88.22M | $67.80M | $86.30M | $50.59M | $20.87M | $33.10M | $19.44M | $5.10M | $134.02M | $109.51M | $73.22M | $3.98M | $-1.00M | $-13.63M | $-784.53M | $-1.28B | $-115.05M | $-1.85B | $-5.44B |
| Operating margin | 31.8% | 25.2% | 18.8% | 22.8% | 11.1% | 3.9% | 5.9% | 3.4% | 0.9% | 25.3% | 21.3% | 14.5% | 0.8% | -0.2% | -2.8% | -153.6% | -255.5% | -23.2% | -399.8% | -1140.8% |
| EBITDA | $107.42M | $95.82M | $74.20M | $96.94M | $63.39M | $38.14M | $55.55M | $45.84M | $45.13M | $155.51M | $129.50M | $88.75M | $7.68M | $7.59M | $70.41M | $-770.88M | $-1.26B | $-115.05M | $-1.85B | $-5.44B |
| EBITDA margin | 34.2% | 27.3% | 20.6% | 25.7% | 13.9% | 7.1% | 9.8% | 8.0% | 7.8% | 29.3% | 25.2% | 17.6% | 1.5% | 1.6% | 14.6% | -150.9% | -252.1% | -23.2% | -400.2% | -1139.3% |
| EBIT | $99.79M | $88.22M | $67.80M | $86.30M | $50.59M | $20.87M | $33.10M | $19.44M | $19.84M | $134.30M | $109.56M | $73.22M | $3.98M | $-1.00M | $57.07M | $-782.24M | $-1.27B | $-115.05M | $-1.87B | $-5.46B |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $39.27M | $1.81M | $29.15M | $53.14M | $48.96M | $61.94M | $64.97M |
| Income tax | $30.48M | $32.72M | $29.00M | $25.29M | $11.17M | $3.39M | $9.73M | $-9.80M | $6.02M | $31.93M | $22.69M | $53.28M | $-2.02M | $3.91M | $-12.43M | $-275.91M | $147.33M | $-553.65M | $-767.68M | $-1.68B |
| Effective tax rate | 30.1% | 35.9% | 40.9% | 25.3% | 20.3% | 15.9% | 32.1% | -13.3% | 54.4% | 23.2% | 19.7% | 74.5% | -9.9% | 10.2% | 62.3% | 34.0% | -11.1% | 444.6% | 39.7% | 29.4% |
| Net income | $70.88M | $58.47M | $41.83M | $74.84M | $43.79M | $17.94M | $20.55M | $83.33M | $5.04M | $105.93M | $92.24M | $18.20M | $22.50M | $34.35M | $-7.52M | $-535.48M | $-1.47B | $429.12M | $-1.17B | $-4.03B |
| Net income growth (YoY) | — | -17.5% | -28.5% | +78.9% | -41.5% | -59.0% | +14.5% | +305.6% | -94.0% | +2003.9% | -12.9% | -80.3% | +23.7% | +52.7% | -121.9% | -7017.0% | -174.5% | +129.2% | -371.9% | -245.6% |
| Profit margin | 22.6% | 16.7% | 11.6% | 19.8% | 9.6% | 3.3% | 3.6% | 14.5% | 0.9% | 20.0% | 18.0% | 3.6% | 4.5% | 7.1% | -1.6% | -104.8% | -294.4% | 86.5% | -251.7% | -844.8% |