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MSTR Microstrategy

MicroStrategy is a worldwide leader in enterprise analytics and mobility software. A pioneer in the BI and analytics space, MicroStrategy delivers innovative software that empowers people to make better decisions and transform the way they do business. MicroStrategy provides its enterprise customers with world-class software and expert services so they can deploy unique intelligence applications.

Company profile

Ticker
MSTR
Exchange
CEO
Michael Saylor
Employees
Incorporated
Location
Fiscal year end
Former names
Microstrategy Inc
SEC CIK
Subsidiaries
821,393 LLC • MicroStrategy Administration Corporation • MicroStrategy India Private Limited • MicroStrategy Enterprises, Inc. • MicroStrategy International Limited • MicroStrategy Management Corporation • MicroStrategy International II Limited • MicroStrategy Services Corporation • MicroStrategy Israel Ltd. • Reporting Technologies, Inc. ...
IRS number
510323571

MSTR stock data

(
)

Calendar

28 Jul 21
22 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 56.4M 56.4M 56.4M 56.4M 56.4M 56.4M
Cash burn (monthly) 8.72M 30.38M 139.85M 52.57M (positive/no burn) (positive/no burn)
Cash used (since last report) 32.63M 113.74M 523.66M 196.86M n/a n/a
Cash remaining 23.77M -57.34M -467.26M -140.46M n/a n/a
Runway (months of cash) 2.7 -1.9 -3.3 -2.7 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 712.94 869 619.54K 0
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 711.4 150 106.71K 869
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 710.39 491 348.8K 1,019
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 709.53 1,418 1.01M 1,510
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 708.09 235 166.4K 2,928
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 707.18 756 534.63K 3,163
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 706.12 572 403.9K 3,919
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 704.96 2,178 1.54M 4,491
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 703.95 1,194 840.52K 6,669
26 Aug 21 Timothy Edwin Lang Class A Common Stock Sell Dispose S No No 703.39 1,461 1.03M 7,863

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

99.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 282 289 -2.4%
Opened positions 53 94 -43.6%
Closed positions 60 43 +39.5%
Increased positions 105 76 +38.2%
Reduced positions 82 95 -13.7%
13F shares
Current Prev Q Change
Total value 5.45B 4.3B +26.7%
Total shares 7.75M 6.42M +20.8%
Total puts 1.52M 913.19K +66.2%
Total calls 1.49M 1.23M +21.3%
Total put/call ratio 1.0 0.7 +37.0%
Largest owners
Shares Value Change
BLK Blackrock 1.23M $818.23M -1.0%
Capital International Investors 953.24K $633.43M NEW
Vanguard 710.1K $471.86M +3.4%
Citadel Securities GP 555.04K $424.93M 0.0%
Susquehanna Securities 516.76K $363.57M NEW
MS Morgan Stanley 388.78K $258.35M -5.9%
First Trust Portfolios 352.95K $137.14M 0.0%
First Trust Advisors 261.8K $173.97M +57.5%
STT State Street 245.39K $163.06M +7.8%
Dimensional Fund Advisors 165.09K $109.71M +0.1%
Largest transactions
Shares Bought/sold Change
Capital International Investors 953.24K +953.24K NEW
Susquehanna Securities 516.76K +516.76K NEW
Susquehanna International 6.42K -148.92K -95.9%
Steadview Capital Management 0 -133.38K EXIT
First Trust Advisors 261.8K +95.54K +57.5%
Capital World Investors 126K +89.05K +241.0%
JPM JPMorgan Chase & Co. 13.61K -88.22K -86.6%
Group One Trading 0 -67.87K EXIT
Amundi 61.93K +61.93K NEW
Abundance Wealth Counselors 46.52K +46.45K +66350.0%

Financial report summary

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Competition
MicrosoftMercadoLibreTableau SoftwareOracleDomoAlteryx
Risks
  • Our quarterly operating results, revenues, and expenses may fluctuate significantly, which could have an adverse effect on the market price of our stock
  • We may not be able to regain or increase profitability in the future
  • We may have exposure to greater than anticipated tax liabilities
  • Our bitcoin acquisition strategy exposes us to various risks associated with bitcoin
  • The price of bitcoin may be influenced by regulatory, commercial, and technical factors that are highly uncertain, and fluctuations in the price of bitcoin are likely to influence our financial results and the market price of our class A common stock
  • Our historical financial statements do not reflect the potential variability in earnings that we may experience in the future relating to bitcoin holdings
  • Changes in securities regulation may adversely impact the market price of our class A common stock
  • Due to the unregulated nature and lack of transparency surrounding the operations of many bitcoin trading venues, they may experience fraud, security failures or operational problems, which may adversely affect the value of our bitcoin
  • The concentration of our bitcoin holdings enhances the risks inherent in our bitcoin acquisition strategy
  • If we or our third-party service providers experience a security breach or cyberattack and unauthorized parties obtain access to our bitcoin, we may lose some or all of our bitcoin and our financial condition and results of operations could be materially adversely affected
  • The loss or destruction of a private key required to access our bitcoin may be irreversible. If we are unable to access our private keys or if we experience a cyberattack or other data loss relating to our bitcoin, our financial condition and results of operations could be materially adversely affected
  • Regulatory change reclassifying bitcoin as a security could lead to our classification as an “investment company” under the Investment Company Act of 1940 and could adversely affect the market price of bitcoin and the market price of our class A common stock
  • A significant decrease in the market value of our bitcoin holdings could adversely affect our ability to service our indebtedness
  • We depend on revenue from a single software platform and related services as well as revenue from our installed customer base
  • A substantial customer shift in the deployment of the MicroStrategy platform from a product license model to a cloud subscription model could affect the timing of revenue recognition, reduce product licenses and product support revenues, and materially adversely affect our operating results
  • We use channel partners and if we are unable to maintain successful relationships with them, our business, operating results, and financial condition could be materially adversely affected
  • Our recognition of deferred revenue and advance payments is subject to future performance obligations and may not be representative of revenues for succeeding periods
  • We may lose sales, or sales may be delayed, due to the long sales and implementation cycles of certain of our offerings, which could materially adversely affect our revenues and operating results
  • Our results in any particular period may depend on the number and volume of large transactions in that period and these transactions may involve lengthier, more complex, and more unpredictable sales cycles than other transactions
  • Our offerings face intense competition, which may lead to lower prices for our offerings, reduced gross margins, loss of market share, and reduced revenue
  • If we are unable to develop and release new offerings and software enhancements to respond to rapid technological change, new customer requirements, or evolving industry standards in a timely and cost-effective manner, our business, operating results, and financial condition could be materially adversely affected
  • We depend on technology licensed to us by third parties, and changes in or discontinuances of such licenses could impair our software, delay implementation of our offerings, or force us to pay higher license fees
  • Changes in third-party software or systems or the emergence of new industry standards could materially adversely affect the operation of and demand for our existing software
  • Our intellectual property is valuable, and any inability to protect it could reduce the value of our offerings and brand
  • Third parties may claim we infringe their intellectual property rights
  • Business disruptions, including interruptions, delays, or failures of our systems, third-party data center hosting facility, or other third-party services, could materially adversely affect our operating results or result in a material weakness in our internal controls that could adversely affect the market price of our stock
  • Our international operations are complex and expose us to risks that could have a material adverse effect on our business, operating results, and financial condition
  • If we are unable to recruit or retain skilled personnel, or if we lose the services of our Chairman of the Board of Directors & Chief Executive Officer, our business, operating results, and financial condition could be materially adversely affected
  • Changes in laws or regulations relating to privacy or the collection, processing, disclosure, storage, localization, or transmission of personal data, or any actual or perceived failure by us or our third-party service providers to comply with such laws and regulations, contractual obligations, or applicable privacy policies, could materially adversely affect our business
  • Our having entered into an indemnification agreement with Michael J. Saylor, our Chairman of the Board of Directors & Chief Executive Officer, in lieu of procuring conventional director and officer liability insurance offered by a third-party insurance carrier could negatively affect our business and the market price of our class A common stock
  • Because of the rights of our two classes of common stock and because we are controlled by Michael J. Saylor, who beneficially owns the majority of our class B common stock, Mr. Saylor could transfer control of MicroStrategy to a third party without the approval of our Board of Directors or our other stockholders, prevent a third party from acquiring us, or limit the ability of our other stockholders to influence corporate matters
  • Our status as a “controlled company” could make our class A common stock less attractive to some investors or otherwise materially adversely affect our stock price
  • Future sales, or the perception of future sales, of our class A common stock, convertible debt instruments or other convertible securities could depress the price of our class A common stock
  • Our level and terms of indebtedness could adversely affect our ability to raise additional capital to further execute on our bitcoin acquisition strategy, fund our enterprise analytics software operations, and take advantage of new business opportunities
  • We may be unable to service our indebtedness, which could cause us to default on our debt obligations and could force us into bankruptcy or liquidation
  • The indenture governing our 2028 Secured Notes imposes significant operating and financial restrictions on us and certain restricted subsidiaries of ours, which may prevent us from capitalizing on business opportunities
  • We may be required to repay the 2028 Secured Notes prior to their stated maturity date, if the springing maturity feature is triggered
  • We may not be able to finance required repurchases of the 2028 Secured Notes or the Convertible Notes upon a change of control or a fundamental change
  • We may not have the ability to raise the funds necessary to settle for cash conversions of the Convertible Notes
  • The conditional conversion feature of the Convertible Notes, if triggered, may adversely affect our financial condition and operating results
  • We rely on the receipt of funds from our subsidiaries in order to meet our cash needs and service our indebtedness, including the 2028 Secured Notes and the Convertible Notes, and certain of our subsidiaries holding digital assets may not provide any dividends, distributions, or other payments to us to fund our obligations and meet our cash needs
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  For this purpose, any statements contained herein that are not statements of historical fact, including without limitation, certain statements regarding industry prospects and our results of operations or financial position, may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” and similar expressions are intended to identify forward-looking statements. The important factors discussed under “Part II. Item 1A. Risk Factors,” among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and presented elsewhere by management from time to time.  Such forward-looking statements represent management’s current expectations and are inherently uncertain.  Investors are warned that actual results may differ from management’s expectations.
  • MicroStrategy® pursues two corporate strategies in the operation of its business. One strategy is to acquire and hold bitcoin and the other strategy is to grow our enterprise analytics software business. We believe a key differentiator of MicroStrategy is our two, interdependent corporate strategies in the operation of our business.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: agent, agreed, ahead, authentication, ban, bankruptcy, beautiful, binding, borrowed, built, carrier, collateral, Colorado, column, Conference, construction, construe, content, conventional, counterparty, cured, dashboarding, demonstration, deviation, device, director, disadvantage, dispose, disputed, disqualified, Document, Dossier, easy, electricity, embrace, energy, environmental, exacerbate, favorite, FCCR, fee, Guarantor, Hassan, hearing, highlighted, hover, incurrence, inhibit, insolvency, instantly, Iran, jointly, largest, layout, leaving, MacroStrategy, mathematical, merge, metadata, Mongolia, multiplied, opportunity, organizing, pari, passed, passu, pledge, President, priority, promulgated, receipt, refinancing, relevant, requesting, resale, Rouhani, row, saving, sentiment, simply, sooner, spot, spring, springing, Studio, summer, telemetry, tool, tougher, Transformational, truth, unavailability, unconditionally, unconventional, unlicensed, untethered, validly, waived, waiver, website, wholly, word, world
Removed: choose, RStudio

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