How Strategy (MSTR) Makes Money: A Visual Guide
Strategy (MSTR) generated $477.23M in revenue (TTM through Q4 2025) but reported a net loss of $4.03B. Its largest revenue source is Product Licenses And Subscription Services (34.2% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.
Strategy (MSTR) Income Statement Flow
Frequently asked questions
How does Strategy (MSTR) make money?
- Strategy (MSTR) primarily makes money through Product Licenses And Subscription Services, which accounts for 34.2% of total revenue. For TTM through Q4 2025, Strategy generated $477.23M in total revenue with a net profit margin of -844.8%.
What is Strategy (MSTR) gross profit margin?
- Strategy (MSTR) reported a gross profit margin of 68.7% for TTM through Q4 2025, equivalent to $327.82M in gross profit. This means Strategy retains 68.7% of each revenue unit after direct costs of production.
What is Strategy (MSTR) operating profit margin?
- Strategy (MSTR) reported an operating profit margin of -1140.8% for TTM through Q4 2025, equivalent to −$5.44B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Strategy (MSTR) net profit margin?
- Strategy (MSTR) reported a net profit margin of -844.8% for TTM through Q4 2025, equivalent to −$4.03B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Strategy (MSTR) invest in R&D?
- Strategy (MSTR) invested $93.86M in research and development in TTM through Q4 2025 (19.7% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Strategy (MSTR) spend on capital expenditures?
- Strategy (MSTR) spent $28.93B on capital expenditures in TTM through Q4 2025 (6061.2% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Strategy (MSTR) free cash flow?
- Strategy (MSTR) generated −$77.83M in free cash flow for TTM through Q4 2025 (-16.3% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
About this data
- What is a Sankey diagram?
- A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
- How is the data calculated?
- We use the income statement from company filings. For TTM (Trailing Twelve Months), we sum the last four quarters. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
- When was this data last updated?
- Based on company filings through TTM through Q4 2025.