Subscription And Circulation — Total cost of revenues
MicroStrategy Subscription And Circulation — Total cost of revenues increased by 14.7% to $22.47M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 55.7%, from $14.43M to $22.47M. Over 4 years (FY 2021 to FY 2025), Subscription And Circulation — Total cost of revenues shows an upward trend with a 30.1% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue may signal rising cloud infrastructure costs or inefficient service delivery, while a decrease suggests improved operational leverage.
Detailed definition
This metric captures the direct costs associated with delivering subscription services, including cloud hosting fees, cu...
Peer comparison
Comparable to Cost of Goods Sold (COGS) for SaaS companies, typically evaluated alongside gross margin percentages for cloud service segments.
mstr_segment_subscription_services_total_cost_of_revenuesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $3.81M | $4.28M | $1.71M | $5.41M | $5.50M | $6.40M | $3.30M | $7.86M | $7.22M | $8.03M | $5.58M | $8.60M | $9.56M | $11.45M | $651.00K | $14.43M | $15.91M | $19.59M | $22.47M |
| QoQ Change | — | +12.4% | -60.0% | +216.2% | +1.6% | +16.3% | -48.4% | +137.8% | -8.1% | +11.3% | -30.4% | +54.1% | +11.1% | +19.8% | -94.3% | >999% | +10.2% | +23.2% | +14.7% |
| YoY Change | — | — | — | — | +44.3% | +49.3% | +93.0% | +45.2% | +31.2% | +25.5% | +69.1% | +9.5% | +32.5% | +42.7% | -88.3% | +67.7% | +66.4% | +71.1% | +55.7% |
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Frequently Asked Questions
- What is MicroStrategy's subscription and circulation — total cost of revenues?
- MicroStrategy (MSTR) reported subscription and circulation — total cost of revenues of $22.47M in Q1 2026.
- How has MicroStrategy's subscription and circulation — total cost of revenues changed year-over-year?
- MicroStrategy's subscription and circulation — total cost of revenues increased by 55.7% year-over-year, from $14.43M to $22.47M.
- What is the long-term trend for MicroStrategy's subscription and circulation — total cost of revenues?
- Over 4 years (2021 to 2025), MicroStrategy's subscription and circulation — total cost of revenues has grown at a 30.1% compound annual growth rate (CAGR), from $14.83M to $42.44M.
- What does subscription and circulation — total cost of revenues mean?
- The direct expenses incurred to provide and maintain subscription-based software services.