Highlights

  • Strategy shares were trading at $151.62 on October 23, 2026, up 3.99%.
  • Software segment revenue was $122.4 million for the quarter, up from $114.5 million a year earlier.
  • The company recorded a consolidated net loss of $8,219.6 million, driven by an $8,315.4 million unrealized loss on its bitcoin holdings.
  • As of June 30, 2026, Strategy held approximately 846,000 bitcoins with a cost basis of $63.9 billion and a fair value of $49.7 billion.

Strategy Inc (Nasdaq: MSTR) shares were trading at USD 151.62 on October 23, 2026, up 3.99%. The company reported second-quarter results on August 3 showing continued growth in its software business alongside a large consolidated net loss driven by a decline in the market price of bitcoin.

Strategy, formerly known as MicroStrategy, is headquartered in Tysons Corner, Virginia, and is incorporated in Delaware. The company describes itself as the world’s first and largest Bitcoin Treasury Company, pursuing financial innovation strategies to generate value from its bitcoin holdings, while also operating an AI-powered enterprise analytics software business. Beginning in the second quarter of 2026, the company began reporting results across two segments: Software and Bitcoin.

Software Segment Continues to Grow

Total revenues for the quarter were $122.4 million, up from $114.5 million a year earlier, with product licenses and subscription services revenue of $66.5 million, up from $48.0 million, partly offset by lower product support revenue of $40.2 million, down from $52.1 million. All of the company’s revenue in the period was generated by its Software segment, which the company describes as an industry leader in AI-powered enterprise analytics delivering what it calls Intelligence Everywhere.

Bitcoin Segment Posts a Large Unrealized Loss

Strategy’s Bitcoin segment reported a net loss of $8.22 billion for the quarter, which the company said was primarily due to unrealized losses on digital assets resulting from the volatility and decrease in the market price of bitcoin during the period, compared with unrealized gains on digital assets recognized in the prior-year quarter. The company recorded an unrealized loss on digital assets of $8,315.4 million for the quarter, compared with an unrealized gain of $14,047.5 million a year earlier. As of June 30, 2026, Strategy held approximately 846,000 bitcoins, with a cost basis of $63.94 billion and a fair value of $49.67 billion. During the quarter, the company purchased approximately 85,296 bitcoins for $6.42 billion and sold approximately 1,395 bitcoins for $83.2 million. Consolidated net loss for the quarter, combining both segments, was $8,219.6 million.

Capital Markets Activity Continues to Fund Bitcoin Purchases

The company’s Bitcoin segment activities include issuing Class A common stock and preferred securities through at-the-market programs to fund bitcoin purchases, and maintaining a U.S. dollar reserve to support preferred stock dividends and interest expense on its outstanding indebtedness. Strategy accounts for its bitcoin holdings as indefinite-lived intangible assets measured at fair value each reporting period, based on quoted prices on the Coinbase exchange, following its adoption of ASU 2023-08 effective January 1, 2025, meaning quarterly changes in bitcoin’s market price flow directly through the company’s reported net income or loss.