Strategy reported fourth quarter 2025 software revenue of $123.0 million, beating estimates, but posted a diluted EPS loss of $42.93, wider than expected. The significant net loss was primarily driven by a $17.4 billion unrealized loss on its digital assets under fair value accounting.
Key Highlights
- The company reported achieving a full-year 2025 BTC Yield of 22.8%, which measures the growth of its bitcoin holdings relative to its share count.
- As of February 1, 2026, the company's bitcoin holdings increased to 713,502 BTC, acquired at an average cost of approximately $76,052 per bitcoin.
- The core software business demonstrated strong growth, with Subscription Services revenue increasing 62.1% year-over-year to $51.8 million in the quarter.