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MicroStrategy MSTR Product licenses — Total revenues

Other product segments

Subscription services
$58.88M+58.7%
Product support
$44.19M
Other services
$15.73M

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Other financials

Income statement

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Revenue$124.3M+11.9%
Gross profit$83.4M+8.1%
Operating income-$14.5B-144%
Net income-$12.5B-197%
EPS (diluted)-$38.25-132%

Balance sheet

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Cash & equivalents$2.2B+3,561%
Total debt$8.3B+0.8%
Total equity$36.7B+13.7%
Total assets$54.3B+23.6%

Cash flow

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Operating cash flow$14.0M+686%
CapEx$952.0K-65.2%
Free cash flow$13.0M+354%

Valuation

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Market cap$38.43B-66.1%
Enterprise value$44.48B-40.9%
P/S78.5×-66.8×

Profitability

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Gross margin72%-3.6pp
Operating margin518.9%
Net margin-1,624.3%+1,096pp
FCF margin-17.1%

Returns & leverage

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Return on equity-23.1%-4.6pp
Debt / equity0.2×0.0×
Current ratio6.1×+5.4×

Where this comes from

Reported directly by MicroStrategy in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: MicroStrategy’s 10-Q, filed May 6, 2026.

Filed
May 6, 2026, 4:06 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q1 2026
Accession
0001050446-26-000031
Line itemThree Months Ended March 31, 2026Three Months Ended March 31, 2025
Revenues:
Product licenses$5,501$7,270
Subscription services58,87937,103
Total product licenses and subscription services64,38044,373
Product support44,19052,529
Other services15,73014,164
Total revenues124,300111,066
Cost of revenues:

Item 1. Financial Statements (unaudited)

FAQ

What is MicroStrategy's product licenses — total revenues?
MicroStrategy (MSTR) reported product licenses — total revenues of $5.5M in Q1 2026.
How has MicroStrategy's product licenses — total revenues changed year-over-year?
MicroStrategy's product licenses — total revenues decreased by 24.3% year-over-year, from $7.27M to $5.5M.
What is the long-term trend for MicroStrategy's product licenses — total revenues?
Over 3 years (2022 to 2025), MicroStrategy's product licenses — total revenues has grown at a -21.9% compound annual growth rate (CAGR), from $101.8M to $48.57M.
What does product licenses — total revenues mean?
This metric represents the total revenue generated from the sale of perpetual software licenses within a specific business segment. It reflects the upfront recognition of software licensing fees, excluding recurring maintenance or subscription-based revenue streams. This figure is a primary indicator of the company's ability to acquire new customers and expand its installed base through direct software sales.

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