Analysts expect MicroStrategy to report Q1 revenue of $122.4 million and an EPS of -$3.41, with the stock currently trading at $485.20 relative to a $560.12 analyst price target.
Investors are primarily focused on the company's 'BTC Yield,' a proprietary KPI measuring the percentage change in the ratio between its bitcoin holdings and its assumed diluted shares outstanding.
The report will be heavily influenced by the new FASB fair value accounting rules, which require the company to mark its bitcoin holdings to market prices, leading to significant net income volatility. Furthermore, market participants are looking for updates on the company's software-to-cloud transition and its capacity for additional debt-financed bitcoin acquisitions.