TYSONS CORNER, Va. - MicroStrategy Incorporated (NASDAQ:MSTR), now operating as Strategy, reported fourth quarter 2024 financial results that fell short of analyst expectations, with revenue declining and losses widening compared to estimates.
The company, which positions itself as the world’s first Bitcoin Treasury Company, reported revenue of $120.7 million for the quarter, missing the analyst consensus estimate of $123 million. This represents a revenue decline compared to the same quarter last year, though the exact percentage was not specified in the release.
Strategy posted an adjusted loss per share of -$3.20 for Q4, significantly wider than the -$0.12 loss per share analysts were expecting.
The company’s stock showed little movement following the earnings release, trading flat in after-hours trading.
Despite the earnings miss, Strategy highlighted its continued accumulation of bitcoin during the quarter. The company acquired 218,887 bitcoins for $20.5 billion in Q4, marking its largest quarterly increase in bitcoin holdings to date.
As of December 31, 2024, Strategy held approximately 447,470 bitcoins with a market value of $41.789 billion.
"We have completed $20 billion of our $42 billion capital plan, significantly ahead of our initial timelines, while leading the digital transformation of capital in the financial markets," said Phong Le, President and CEO of Strategy.
The company also announced it will adopt fair value accounting for its bitcoin holdings starting in Q1 2025, which it says will bring more transparency to its treasury operations.
Strategy raised additional funds through various offerings, including $15.1 billion from its at-the-market equity program in Q4 and $3 billion from convertible notes issued in November.
While the company’s core business results disappointed, Strategy continues to focus primarily on its bitcoin accumulation strategy as its main driver of value.
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