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MicroStrategy Income Statement

Revenue, expenses, and profitability over time

MicroStrategy generated $478.5M in trailing twelve-month revenue, up 0.0% year-over-year. Net income was -$4.0B with a 1,663.11% net margin. Gross margin stands at 72.04% and operating margin at 518.92%. Diluted EPS is $-13.72, which grew 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$476.7MGross Profit (TTM)$340.2MOperating Income (TTM)-$10.4BNet Income (TTM)-$9.5BEps Diluted (TTM)$-27.82
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$42.5B
ROE28.22%

Earnings Per Share

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Basic earnings per share$-16.49$36.23$9.30$-35.10$-38.25—
Diluted earnings per share$-16.49$32.60$8.42$-30.59$-38.25—
Weighted-average shares, basic256.5M275.2M284.4M192.5M333.9M277.7M
Weighted-average shares, diluted256.5M306.8M315.4M192.5M333.9M277.7M

Operating Expenses

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
General and administrative$40.5M$36.5M$38.2M$25.3M$37.4M—
Unrealized loss on digital assets$5.9B———$14.5B—
Other operating expenses$6B-$14B-$3.8B$13.9B$14.6B—
Research and development$24.4M$24.1M$22.6M$47.4M$24.7M—
Selling and marketing$27.5M$33.7M$29.9M$47M$36.3M—
Total operating expenses$6B-$14B-$3.8B$13.9B$14.6B—

Operating Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Gross profit$77.1M$78.7M$90.7M$87.5M$83.4M—
Operating income-$5.9B$14B$3.9B-$13.9B-$14.5B—

Income Before Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Income before income taxes-$5.9B$14B$3.9B-$13.9B-$14.5B—

Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Income tax expense-$1.7B$4B$1.1B-$4.1B-$1.9B—

Net Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Net income-$4.2B$10B$2.8B-$9.8B-$12.5B—

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Dividends on preferred shares$10.6M$49.1M$139.9M-$199.7M$229.5M—
Other income, net (Note 6)-$3.9M-$8.3M-$716K$16.4M$3.1M—
Revenue From Contract With Customer Excluding Assessed Tax$111.1M$114.5M$128.7M$109.2M$124.3M—

Other Income & Expense

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Interest Income (Expense), Nonoperating-$17.1M-$17.9M-$18.9M-$8M$1.8M—

Cost of Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Total cost of revenue$34M$35.8M$38M$21.7M$40.9M—

Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q4 '26
Total revenue$111.1M$114.5M$128.7M$109.2M$124.3M—