The earnings call presented a strong focus on expanding bitcoin holdings and capital strategy, with significant progress in cloud revenue growth. However, declines in software revenue and increased operating expenses pose challenges.

Company Guidance

During the Q3 2024 earnings call, MicroStrategy provided ambitious guidance with the introduction of their 21-21 capital plan, targeting to raise $42 billion from 2025 to 2027, split evenly between equity and fixed income capital, primarily for acquiring bitcoin. The company, already the largest corporate holder of bitcoin with 252,220 bitcoins valued at $18 billion, aims to further cement its position as the largest bitcoin treasury company. Additionally, MicroStrategy's software business showed strong growth, with non-GAAP subscription billings increasing by 93% to $32.4 million, driven by cloud migrations. The company plans to continue leveraging its balance sheet, with a positive BTC Yield target of 6% to 10% annually for the next three years, showcasing its commitment to long-term shareholder value creation through its dual focus on bitcoin acquisition and enterprise analytics.

Largest Corporate Bitcoin Holder

MicroStrategy has increased its bitcoin holdings to 252,220 bitcoins, with a market value of $18 billion.

Significant Capital Raised

MicroStrategy raised $1.1 billion through an ATM equity offering and $1.01 billion through convertible notes, freeing all bitcoin holdings from encumbrances.

Ambitious Capital Market Strategic Plan

MicroStrategy announced a plan to raise $42 billion from 2025 to 2027 to acquire bitcoin, with a new $21 billion ATM equity program filed.

Strong Cloud Revenue Growth

Non-GAAP subscription billings grew 93% year-over-year to $32.4 million, with strong demand for cloud offerings.

Successful Convertible Bond Strategy

Convertible bonds issued have outperformed bitcoin, providing investors with a favorable return.

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Microstrategy (MSTR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MSTR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 04, 2025	2024 (Q4)	-0.12 / -	0.496	―	―	―
Oct 30, 2024	2024 (Q3)	-0.12 / -1.72	-1.009	-70.47% (-0.71)
Aug 01, 2024	2024 (Q2)	-0.09 / -0.57	0.152	-477.63% (-0.73)
Apr 29, 2024	2024 (Q1)	-0.05 / -0.31	3.179	-109.72% (-3.49)
Feb 06, 2024	2023 (Q4)	-0.06 / 0.50	-2.193	122.62% (+2.69)
Nov 01, 2023	2023 (Q3)	0.03 / -1.01	-0.239	-322.18% (-0.77)
Aug 01, 2023	2023 (Q2)	-0.02 / 0.15	-9.401	101.62% (+9.55)
May 01, 2023	2023 (Q1)	-0.03 / 3.18	-1.158	374.53% (+4.34)
Feb 02, 2023	2022 (Q4)	<0.01 / -2.19	-0.843	-160.14% (-1.35)
Nov 01, 2022	2022 (Q3)	-0.01 / -0.24	-0.361	33.80% (+0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MSTR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	$247.31	$244.50	-1.14%
Aug 01, 2024	$151.18	$144.80	-4.22%
Apr 29, 2024	$129.30	$106.50	-17.63%
Feb 06, 2024	$49.80	$50.80	+2.01%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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