BREAKING: Michael Saylor’s Company Strategy Releases Earnings Report Amidst Big Decline – Important Details Included

Strategy, a company known for its Bitcoin-focused treasury strategy, has released its fourth-quarter and full-year financial results for 2025.

The company announced that as of February 1, 2026, it held a total of 713,502 Bitcoins on its balance sheet. The total cost of these assets was $54.26 billion, with an average purchase price of $76,052 per Bitcoin. As of the same date, the market value of these BTCs was estimated at approximately $59.75 billion.

The company announced it achieved a 22.8% return on BTC throughout 2025, remaining within the previously updated target range of 22.0%–26.0%. This represents a net increase of 101,873 BTC during 2025, resulting in approximately $8.9 billion in BTC gains based on the year-end price. Strategy’s BTC accumulation remains central to its balance sheet strategy.

On the financing side, Strategy announced that it has secured a total of $25.3 billion in funding by 2025. The company stated that it was the largest issuer of stock in the US this year, representing approximately 8% of total US stock issuance. Five preferred stock offerings were completed during the year, generating a gross proceeds of $5.5 billion. Furthermore, its digital credit instrument, STRC, reached a size of $3.4 billion, with a current dividend yield of 11.25%. A total of $413 million in cumulative dividends have been distributed to date, with an average annual dividend yield of 9.6%.

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The company announced it has established a $2.25 billion reserve for the fourth quarter of 2025. This reserve provides approximately 2.5 years of security for preferred stock dividends and debt interest payments. The reserve was financed with proceeds from the sale of Class A shares under the ATM program. Strategy management added that the reserve is intended to cover two to three years of dividend and interest obligations, but the amount may change depending on market conditions. As of December 31, 2025, the company’s cash and cash equivalents increased significantly to $2.3 billion, compared to $38.1 million the previous year.

However, a notable item in the financial results was the $17.4 billion unrealized loss recorded under fair value accounting for digital assets. Operating loss in the fourth quarter of 2025 was reported as $17.4 billion, while net loss reached $12.4 billion. Diluted loss per share was $42.93. Net loss in the same period of the previous year was $670.8 million. The company stated that the transition to fair value accounting as of January 1, 2025, had a decisive impact on the results.

On the other hand, Strategy’s software operations showed relatively stable performance. In the fourth quarter of 2025, total revenue increased by 1.9% year-on-year to $123 million. Subscription service revenue showed strong growth, while product support and other service revenue decreased. Gross profit was $81.3 million, and the gross margin was 66.1%, a decline compared to the same period last year.

*This is not investment advice.

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