SignalXSignalX

MSTR MicroStrategy

FY2025 10-K
Filed: Feb 19, 2026
Financials
Finance ServicesSEC EDGAR
MicroStrategy Overview

MicroStrategy (MSTR) filed its fiscal year 2025 10-K annual report with the SEC on Feb 19, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • • Core business: dual focus on bitcoin treasury operations and AI-powered enterprise analytics software
  • • Introduced five novel Preferred Stock classes ("digital credit") in 2025 providing varied economic exposure to bitcoin and equity
+3 more insights

Management Discussion & Analysis

  • • Revenue driven primarily by bitcoin capital market activities and enterprise analytics software; net proceeds from equity offerings $23.17B in 2025 vs $16.33B in 2024
  • • Bitcoin unrealized loss $5.40B in 2025 with deferred tax benefit $1.55B; carrying value of bitcoin $58.85B vs $23.91B at end of 2024
+3 more insights

Risk Factors

  • • Regulatory risk from adoption of ASC 2023-08 requiring unrealized bitcoin fair value changes recognized in income, causing $5.4B unrealized loss in 2025
  • • Macroeconomic risk due to bitcoin market volatility impacting liquidity, with holdings of ~717K bitcoins valued at $49.29B as of Feb 13, 2026
+3 more insights

Financial Summary
XBRL

Revenue

$477M

Net Income

-$3.8B

Gross Margin

68.7%

Operating Margin

-1140.8%

Net Margin

-806.3%

ROE

-8.7%

Total Assets

$61.6B

EPS (Diluted)

$-15.23

Operating Cash Flow

-$67M

Source: XBRL data from MicroStrategy FY2025 10-K filing on SEC EDGAR. All figures in USD.

Get deeper insights on MicroStrategy

Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.

Try Pro free for 1 month!

Enter SX-8KKYTN at checkout

Limited spots available