STRATEGY INC
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $477.2M | $463.5M | $496.3M | $499.3M | $510.8M | $480.7M | $486.3M | $497.6M |
| Cost of Revenue | $149.4M | $129.5M | $109.9M | $103.0M | $91.9M | $91.1M | $100.0M | $99.5M |
| Gross Profit | $327.8M | $334.0M | $386.3M | $396.3M | $418.9M | $389.7M | $386.4M | $398.1M |
| Gross Margin | 68.7% | 72.1% | 77.8% | 79.4% | 82.0% | 81.1% | 79.4% | 80.0% |
| Operating Expenses | ||||||||
| Research & Development | $93.9M | $118.5M | $120.5M | $127.4M | $117.1M | $103.6M | $109.4M | $102.5M |
| SG&A Expense | $151.9M | $140.5M | $115.3M | $111.4M | $95.5M | $80.1M | $86.7M | $86.1M |
| Operating Income | $-5.44B | $-1.85B | $-115.0M | $-1.28B | $-784.5M | $-13.6M | $-1.0M | $4.0M |
| Operating Margin | -1,140.8% | -399.8% | -23.2% | -255.5% | -153.6% | -2.8% | -0.2% | 0.8% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-5.53B | $-1.93B | $-124.5M | $-1.32B | $-811.4M | $-20.0M | $38.3M | $20.5M |
| Income Tax Expense | $-1.68B | $-767.7M | $-553.6M | $147.3M | $-275.9M | $-12.4M | $3.9M | $-2.0M |
| Net Income | $-3.85B | $-1.17B | $429.1M | $-1.47B | $-535.5M | $-7.5M | $34.4M | $22.5M |
| Net Margin | -806.3% | -251.7% | 86.5% | -294.4% | -104.8% | -1.6% | 7.1% | 4.5% |
| EPS (Basic) | $-15.23 | $-6.06 | $3.14 | $-12.98 | $-4.86 | $-0.07 | $0.30 | $0.18 |
| EPS (Diluted) | $-15.23 | $-6.06 | $2.64 | $-12.98 | $-4.86 | $-0.07 | $0.30 | $0.18 |
| Shares Outstanding (Basic) | 277.7M | 192.5M | 136.7M | 113.2M | 110.2M | 106.5M | 112.8M | 125.1M |
| Shares Outstanding (Diluted) | 277.7M | 192.5M | 165.7M | 113.2M | 110.2M | 106.5M | 113.6M | 125.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |
Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it.