Strategy Inc. Reports 10.9% Revenue Growth and $2.8 Billion Net Income in Q3 2025

MicroStrategy Inc., now rebranded as Strategy Inc., reported significant financial developments in its latest 10-Q filing for the third quarter of 2025. The company achieved total revenues of $128.7 million for the three months ended September 30, 2025, marking a 10.9% increase from $116.1 million in the same period last year. For the nine months ended September 30, 2025, revenues reached $354.2 million, a 3.4% increase compared to $342.8 million in the prior year. The growth was primarily driven by a substantial rise in subscription services revenue, which increased by 65.4% to $46.0 million for the quarter and by 65.5% to $123.9 million for the nine-month period.

The company reported a net income of $2.8 billion for the third quarter, a significant turnaround from a net loss of $340.2 million in the same quarter of 2024. This improvement was largely attributed to the adoption of Accounting Standards Update No. 2023-08, which requires the fair value measurement of digital assets, leading to an unrealized gain of $3.9 billion on its bitcoin holdings. As of September 30, 2025, Strategy Inc. held approximately 640,031 bitcoins, valued at $73.2 billion, reflecting a substantial increase from 447,470 bitcoins valued at $23.9 billion at the end of 2024.

In terms of operational metrics, the company reported a total employee headcount of 1,546 as of September 30, 2025, a slight increase from 1,534 at the end of 2024. The company continues to focus on expanding its customer base and enhancing product adoption, particularly in its cloud subscription services, which have seen increased engagement from existing customers transitioning from on-premises solutions. The company’s strategic initiatives also include ongoing advocacy for bitcoin as a treasury reserve asset, which remains central to its business model.

Looking ahead, Strategy Inc. plans to continue its strategy of acquiring bitcoin through various capital raising activities, including equity and debt offerings. The company has established a capital plan aiming to raise $84 billion in the medium to long term, with $42 billion allocated for equity capital and $42 billion for fixed-income instruments. The management remains optimistic about the future, emphasizing the potential for long-term value creation through its dual focus on bitcoin accumulation and enterprise analytics software development.