mstr-10q_20220930.htm
false
2022
Q3
0001050446
--12-31
2022
P3Y7M6D
P8Y8M12D
P6Y3M18D
121.43
P4Y2M12D
200.01
P9Y10M24D
400.01
P9Y3M18D
600.01
P8Y4M24D
P6Y3M18D
200.00
300.00
500.00
691.23
P6Y3M18D
P6Y3M18D
0001050446
2022-01-01
2022-09-30
xbrli:shares
0001050446
us-gaap:CommonClassAMember
2022-10-25
0001050446
us-gaap:CommonClassBMember
2022-10-25
iso4217:USD
0001050446
2022-09-30
0001050446
2021-12-31
0001050446
us-gaap:CommonClassAMember
2022-09-30
0001050446
us-gaap:CommonClassAMember
2021-12-31
0001050446
us-gaap:CommonClassBMember
2022-09-30
0001050446
us-gaap:CommonClassBMember
2021-12-31
iso4217:USD
xbrli:shares
0001050446
us-gaap:LicenseMember
2022-07-01
2022-09-30
0001050446
us-gaap:LicenseMember
2021-07-01
2021-09-30
0001050446
us-gaap:SubscriptionAndCirculationMember
2022-07-01
2022-09-30
0001050446
us-gaap:SubscriptionAndCirculationMember
2021-07-01
2021-09-30
0001050446
mstr:ProductLicensesAndSubscriptionServicesMember
2022-07-01
2022-09-30
0001050446
mstr:ProductLicensesAndSubscriptionServicesMember
2021-07-01
2021-09-30
0001050446
us-gaap:MaintenanceMember
2022-07-01
2022-09-30
0001050446
us-gaap:MaintenanceMember
2021-07-01
2021-09-30
0001050446
us-gaap:TechnologyServiceMember
2022-07-01
2022-09-30
0001050446
us-gaap:TechnologyServiceMember
2021-07-01
2021-09-30
0001050446
2022-07-01
2022-09-30
0001050446
2021-07-01
2021-09-30
0001050446
us-gaap:LicenseMember
2022-01-01
2022-09-30
0001050446
us-gaap:LicenseMember
2021-01-01
2021-09-30
0001050446
us-gaap:SubscriptionAndCirculationMember
2022-01-01
2022-09-30
0001050446
us-gaap:SubscriptionAndCirculationMember
2021-01-01
2021-09-30
0001050446
mstr:ProductLicensesAndSubscriptionServicesMember
2022-01-01
2022-09-30
0001050446
mstr:ProductLicensesAndSubscriptionServicesMember
2021-01-01
2021-09-30
0001050446
us-gaap:MaintenanceMember
2022-01-01
2022-09-30
0001050446
us-gaap:MaintenanceMember
2021-01-01
2021-09-30
0001050446
us-gaap:TechnologyServiceMember
2022-01-01
2022-09-30
0001050446
us-gaap:TechnologyServiceMember
2021-01-01
2021-09-30
0001050446
2021-01-01
2021-09-30
0001050446
2020-12-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2020-12-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2020-12-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001050446
us-gaap:TreasuryStockMember
2020-12-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0001050446
us-gaap:RetainedEarningsMember
2020-12-31
0001050446
2021-01-01
2021-03-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-01-01
2021-03-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-01-01
2021-03-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-03-31
0001050446
us-gaap:TreasuryStockMember
2021-01-01
2021-03-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-03-31
0001050446
us-gaap:RetainedEarningsMember
2021-01-01
2021-03-31
0001050446
2021-03-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-03-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-03-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-03-31
0001050446
us-gaap:TreasuryStockMember
2021-03-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-03-31
0001050446
us-gaap:RetainedEarningsMember
2021-03-31
0001050446
2021-04-01
2021-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-04-01
2021-06-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-04-01
2021-06-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-04-01
2021-06-30
0001050446
us-gaap:TreasuryStockMember
2021-04-01
2021-06-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-04-01
2021-06-30
0001050446
us-gaap:RetainedEarningsMember
2021-04-01
2021-06-30
0001050446
2021-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-06-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-06-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0001050446
us-gaap:TreasuryStockMember
2021-06-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0001050446
us-gaap:RetainedEarningsMember
2021-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-07-01
2021-09-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-07-01
2021-09-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-07-01
2021-09-30
0001050446
us-gaap:TreasuryStockMember
2021-07-01
2021-09-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-07-01
2021-09-30
0001050446
us-gaap:RetainedEarningsMember
2021-07-01
2021-09-30
0001050446
2021-09-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-09-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-09-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-09-30
0001050446
us-gaap:TreasuryStockMember
2021-09-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-09-30
0001050446
us-gaap:RetainedEarningsMember
2021-09-30
0001050446
2021-10-01
2021-12-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-10-01
2021-12-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-10-01
2021-12-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-10-01
2021-12-31
0001050446
us-gaap:TreasuryStockMember
2021-10-01
2021-12-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-10-01
2021-12-31
0001050446
us-gaap:RetainedEarningsMember
2021-10-01
2021-12-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2021-12-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2021-12-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2021-12-31
0001050446
us-gaap:TreasuryStockMember
2021-12-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-12-31
0001050446
us-gaap:RetainedEarningsMember
2021-12-31
0001050446
2022-01-01
2022-03-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-01-01
2022-03-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-01-01
2022-03-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-01-01
2022-03-31
0001050446
us-gaap:TreasuryStockMember
2022-01-01
2022-03-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-01-01
2022-03-31
0001050446
us-gaap:RetainedEarningsMember
2022-01-01
2022-03-31
0001050446
2022-03-31
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-03-31
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-03-31
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-03-31
0001050446
us-gaap:TreasuryStockMember
2022-03-31
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-03-31
0001050446
us-gaap:RetainedEarningsMember
2022-03-31
0001050446
2022-04-01
2022-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-04-01
2022-06-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-04-01
2022-06-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-04-01
2022-06-30
0001050446
us-gaap:TreasuryStockMember
2022-04-01
2022-06-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-04-01
2022-06-30
0001050446
us-gaap:RetainedEarningsMember
2022-04-01
2022-06-30
0001050446
2022-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-06-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-06-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-06-30
0001050446
us-gaap:TreasuryStockMember
2022-06-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-06-30
0001050446
us-gaap:RetainedEarningsMember
2022-06-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-07-01
2022-09-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-07-01
2022-09-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-07-01
2022-09-30
0001050446
us-gaap:TreasuryStockMember
2022-07-01
2022-09-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-07-01
2022-09-30
0001050446
us-gaap:RetainedEarningsMember
2022-07-01
2022-09-30
0001050446
us-gaap:CommonClassAMember
us-gaap:CommonStockMember
2022-09-30
0001050446
us-gaap:CommonClassBMember
us-gaap:CommonStockMember
2022-09-30
0001050446
us-gaap:AdditionalPaidInCapitalMember
2022-09-30
0001050446
us-gaap:TreasuryStockMember
2022-09-30
0001050446
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-09-30
0001050446
us-gaap:RetainedEarningsMember
2022-09-30
0001050446
us-gaap:ConvertibleDebtMember
2022-01-01
2022-09-30
0001050446
us-gaap:ConvertibleDebtMember
2021-01-01
2021-09-30
0001050446
us-gaap:SecuredDebtMember
2022-01-01
2022-09-30
0001050446
us-gaap:SecuredDebtMember
2021-01-01
2021-09-30
0001050446
mstr:OtherLongTermSecuredDebtMember
2022-01-01
2022-09-30
0001050446
mstr:OtherLongTermSecuredDebtMember
2021-01-01
2021-09-30
0001050446
mstr:EmployeeStockPurchaseProgramMember
2022-01-01
2022-09-30
0001050446
mstr:EmployeeStockPurchaseProgramMember
2021-01-01
2021-09-30
0001050446
us-gaap:ConvertibleDebtMember
2022-01-01
2022-09-30
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2022-01-01
2022-09-30
0001050446
mstr:TermLoanDueTwentyTwentyFiveMember
2022-01-01
2022-09-30
mstr:Bitcoin
xbrli:pure
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2021-06-14
0001050446
mstr:TwoThousandTwentyFiveSecuredTermLoanMember
2022-01-01
2022-09-30
0001050446
mstr:TwoThousandTwentyFiveSecuredTermLoanMember
2022-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2022-07-01
2022-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2022-01-01
2022-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2021-07-01
2021-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2021-01-01
2021-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2022-09-30
0001050446
us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember
2021-12-31
0001050446
mstr:CurrentDeferredRevenueAndAdvancedPaymentsMember
2022-07-01
2022-09-30
0001050446
mstr:CurrentDeferredRevenueAndAdvancedPaymentsMember
2022-01-01
2022-09-30
0001050446
mstr:CurrentDeferredRevenueAndAdvancedPaymentsMember
2021-07-01
2021-09-30
0001050446
mstr:CurrentDeferredRevenueAndAdvancedPaymentsMember
2021-01-01
2021-09-30
0001050446
2022-10-01
2022-09-30
0001050446
2023-10-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2021-12-31
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2021-12-31
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2022-09-30
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2021-12-31
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2022-09-30
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2021-12-31
0001050446
mstr:OtherLongTermSecuredDebtMember
2022-09-30
0001050446
mstr:OtherLongTermSecuredDebtMember
2021-12-31
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2020-12-31
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2020-12-01
2020-12-31
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
2021-02-28
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
2021-02-01
2021-02-28
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
2022-09-30
0001050446
us-gaap:ConvertibleDebtMember
2022-09-30
0001050446
us-gaap:ConvertibleDebtMember
2021-12-31
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2022-07-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2022-07-01
2022-09-30
0001050446
us-gaap:ConvertibleDebtMember
2022-07-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2021-07-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2021-07-01
2021-09-30
0001050446
us-gaap:ConvertibleDebtMember
2021-07-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2022-01-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2022-01-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
us-gaap:ConvertibleDebtMember
2021-01-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentySevenMember
us-gaap:ConvertibleDebtMember
2021-01-01
2021-09-30
0001050446
us-gaap:ConvertibleDebtMember
2021-01-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2022-07-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2022-01-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2021-07-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDueTwentyTwentyFiveMember
2021-01-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDue2027Member
2022-07-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDue2027Member
2022-01-01
2022-09-30
0001050446
mstr:ConvertibleSeniorNotesDue2027Member
2021-07-01
2021-09-30
0001050446
mstr:ConvertibleSeniorNotesDue2027Member
2021-01-01
2021-09-30
0001050446
mstr:SeniorSecuredNotesDueTwentyTwentyEightMember
2021-06-14
0001050446
mstr:SeniorSecuredNotesDueTwentyTwentyEightMember
2021-06-13
2021-06-14
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2021-06-13
2021-06-14
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
us-gaap:CommonClassAMember
srt:MinimumMember
2021-06-13
2021-06-14
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
srt:MaximumMember
2021-06-14
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2022-07-01
2022-09-30
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2021-07-01
2021-09-30
0001050446
mstr:SecuredNotesDueTwentyTwentyEightMember
2021-01-01
2021-09-30
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveYearOneMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveYearTwoMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
us-gaap:CollateralPledgedMember
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
us-gaap:CollateralPledgedMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
srt:MinimumMember
us-gaap:CollateralPledgedMember
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
srt:MaximumMember
us-gaap:CollateralPledgedMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
us-gaap:CollateralPledgedMember
2022-04-01
2022-06-30
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
mstr:EventsOfDefaultMember
2022-03-23
2022-03-23
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2022-07-01
2022-09-30
0001050446
mstr:SecuredTermLoanDueTwentyTwentyFiveMember
2022-01-01
2022-09-30
0001050446
mstr:OtherLongTermSecuredDebtMember
2022-06-30
0001050446
mstr:OtherLongTermSecuredDebtMember
2022-06-01
2022-06-30
0001050446
mstr:SeniorSecuredNotesDueTwentyTwentyEightMember
2022-09-30
0001050446
2022-08-31
0001050446
us-gaap:CommonClassAMember
mstr:ShareRepurchaseProgramMember
2022-01-01
2022-09-30
0001050446
us-gaap:CommonClassAMember
mstr:ShareRepurchaseProgramMember
2022-09-30
0001050446
us-gaap:CommonClassAMember
mstr:ShareRepurchaseProgramMember
2022-07-01
2022-09-30
0001050446
us-gaap:CommonClassAMember
mstr:ShareRepurchaseProgramMember
2021-07-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
mstr:ShareRepurchaseProgramMember
2021-01-01
2021-09-30
0001050446
us-gaap:OtherNoncurrentLiabilitiesMember
2022-09-30
0001050446
us-gaap:OtherNoncurrentLiabilitiesMember
2021-12-31
0001050446
mstr:DeferredTaxAssetsMember
2021-12-31
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
us-gaap:CommonClassAMember
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
us-gaap:CommonClassAMember
us-gaap:EmployeeStockOptionMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
2022-06-30
0001050446
us-gaap:EmployeeStockOptionMember
2022-07-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeOneMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeTwoMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeThreeMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeFourMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeOneMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeTwoMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeThreeMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:ExercisePriceRangeFourMember
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:StockIncentivePlanTwentyThirteenMember
2022-07-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
mstr:StockIncentivePlanTwentyThirteenMember
2021-07-01
2021-09-30
0001050446
us-gaap:EmployeeStockOptionMember
2021-07-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
us-gaap:EmployeeStockOptionMember
2022-01-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
us-gaap:EmployeeStockOptionMember
2021-01-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
us-gaap:EmployeeStockOptionMember
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-09-30
0001050446
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-06-30
0001050446
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-07-01
2022-09-30
0001050446
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-09-30
0001050446
mstr:ShareSettledRestrictedStockUnitsRSUMember
2021-07-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-07-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-01-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:ShareSettledRestrictedStockUnitsRSUMember
2021-07-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:ShareSettledRestrictedStockUnitsRSUMember
2021-01-01
2021-09-30
0001050446
mstr:ShareSettledRestrictedStockUnitsRSUMember
2022-01-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:OtherStockBasedAwardsAndCashSettledRSUsMember
2022-07-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:OtherStockBasedAwardsAndCashSettledRSUsMember
2022-01-01
2022-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:OtherStockBasedAwardsAndCashSettledRSUsMember
2021-07-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:OtherStockBasedAwardsAndCashSettledRSUsMember
2021-01-01
2021-09-30
0001050446
mstr:StockIncentivePlanTwentyThirteenMember
mstr:OtherStockBasedAwardsAndCashSettledRSUsMember
2022-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
us-gaap:CommonClassAMember
2022-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
2022-07-01
2022-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
2022-01-01
2022-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
2021-07-01
2021-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
2021-01-01
2021-09-30
0001050446
mstr:TwentyTwentyOneEmployeeStockPurchasePlanMember
2022-09-30
0001050446
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
us-gaap:CommonClassBMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
us-gaap:EmployeeStockOptionMember
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockOptionMember
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
us-gaap:RestrictedStockUnitsRSUMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
us-gaap:RestrictedStockUnitsRSUMember
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
us-gaap:RestrictedStockUnitsRSUMember
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
us-gaap:RestrictedStockUnitsRSUMember
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
us-gaap:EmployeeStockMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
us-gaap:EmployeeStockMember
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
us-gaap:EmployeeStockMember
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
us-gaap:EmployeeStockMember
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
mstr:TwoThousandAndTwentyFiveConvertibleNotesMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
mstr:TwoThousandAndTwentyFiveConvertibleNotesMember
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
mstr:TwoThousandAndTwentyFiveConvertibleNotesMember
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
mstr:TwoThousandAndTwentyFiveConvertibleNotesMember
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
mstr:TwoThousandAndTwentySevenConvertibleNotesMember
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
mstr:TwoThousandAndTwentySevenConvertibleNotesMember
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
mstr:TwoThousandAndTwentySevenConvertibleNotesMember
us-gaap:CommonClassAMember
2022-01-01
2022-09-30
0001050446
mstr:TwoThousandAndTwentySevenConvertibleNotesMember
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
2022-07-01
2022-09-30
0001050446
us-gaap:CommonClassAMember
2021-07-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
2021-01-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-06-14
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-06-13
2021-06-14
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-09-30
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-07-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-01-01
2021-09-30
0001050446
us-gaap:CommonClassAMember
mstr:JefferiesLLCMember
mstr:OpenMarketSaleAgreementMember
2021-12-31
0001050446
us-gaap:CommonClassAMember
mstr:SalesAgentsMember
mstr:SalesAgreementMember
2022-09-08
2022-09-09
0001050446
us-gaap:CommonClassAMember
mstr:SalesAgentsMember
mstr:SalesAgreementMember
2022-09-30
0001050446
us-gaap:CommonClassAMember
mstr:SalesAgentsMember
mstr:SalesAgreementMember
2022-01-01
2022-09-30
mstr:Segment
0001050446
srt:NorthAmericaMember
2022-07-01
2022-09-30
0001050446
us-gaap:EMEAMember
2022-07-01
2022-09-30
0001050446
mstr:OtherRegionsMember
2022-07-01
2022-09-30
0001050446
srt:NorthAmericaMember
2021-07-01
2021-09-30
0001050446
us-gaap:EMEAMember
2021-07-01
2021-09-30
0001050446
mstr:OtherRegionsMember
2021-07-01
2021-09-30
0001050446
srt:NorthAmericaMember
2022-01-01
2022-09-30
0001050446
us-gaap:EMEAMember
2022-01-01
2022-09-30
0001050446
mstr:OtherRegionsMember
2022-01-01
2022-09-30
0001050446
srt:NorthAmericaMember
2021-01-01
2021-09-30
0001050446
us-gaap:EMEAMember
2021-01-01
2021-09-30
0001050446
mstr:OtherRegionsMember
2021-01-01
2021-09-30
0001050446
srt:NorthAmericaMember
2022-09-30
0001050446
us-gaap:EMEAMember
2022-09-30
0001050446
mstr:OtherRegionsMember
2022-09-30
0001050446
srt:NorthAmericaMember
2021-12-31
0001050446
us-gaap:EMEAMember
2021-12-31
0001050446
mstr:OtherRegionsMember
2021-12-31
mstr:Country
0001050446
us-gaap:GeographicConcentrationRiskMember
2022-07-01
2022-09-30
0001050446
us-gaap:GeographicConcentrationRiskMember
2022-01-01
2022-09-30
0001050446
us-gaap:GeographicConcentrationRiskMember
2021-07-01
2021-09-30
0001050446
us-gaap:GeographicConcentrationRiskMember
2021-01-01
2021-09-30
mstr:Customer
0001050446
us-gaap:CustomerConcentrationRiskMember
us-gaap:RevenueFromContractWithCustomerProductAndServiceBenchmarkMember
2022-07-01
2022-09-30
0001050446
us-gaap:CustomerConcentrationRiskMember
us-gaap:RevenueFromContractWithCustomerProductAndServiceBenchmarkMember
2022-01-01
2022-09-30
0001050446
us-gaap:CustomerConcentrationRiskMember
us-gaap:RevenueFromContractWithCustomerProductAndServiceBenchmarkMember
2021-07-01
2021-09-30
0001050446
us-gaap:CustomerConcentrationRiskMember
us-gaap:RevenueFromContractWithCustomerProductAndServiceBenchmarkMember
2021-01-01
2021-09-30
0001050446
us-gaap:GeographicConcentrationRiskMember
2022-09-30
0001050446
us-gaap:GeographicConcentrationRiskMember
2021-12-31
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:OriginalAgreementMember
2021-01-01
2021-09-30
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:RenewedAgreementMember
2022-06-12
2022-06-12
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:ExcessAgreementMember
2022-01-01
2022-09-30
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:TailAgreementMember
2022-01-01
2022-09-30
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:OriginalAgreementMember
2022-01-01
2022-09-30
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:TailAgreementMember
2022-07-01
2022-09-30
0001050446
2022-08-30
2022-08-30
0001050446
mstr:BoardOfDirectorsChairmanAndExecutiveChairmanMember
mstr:RenewedAgreementMember
2022-01-01
2022-09-30
0001050446
2022-06-24
2022-06-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the Quarterly Period Ended September 30, 2022
OR
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number 000-24435
MICROSTRATEGY INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
51-0323571
(I.R.S. Employer
Identification Number)
1850 Towers Crescent Plaza, Tysons Corner, VA
(Address of Principal Executive Offices)
22182
(Zip Code)
(703) 848-8600
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
|
Trading Symbol |
|
Name of Each Exchange on which Registered |
Class A common stock, par value $0.001 per share |
|
MSTR |
|
The Nasdaq Global Select Market |
|
Indicate by check mark whether the registrant,: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer |
☒ |
|
Accelerated filer |
☐ |
Non-accelerated filer |
☐ |
|
Smaller reporting company |
☐ |
|
|
|
Emerging growth company |
☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
As of October 25, 2022, the registrant had 9,353,694 and 1,964,025 shares of class A common stock and class B common stock outstanding, respectively.
MICROSTRATEGY INCORPORATED
FORM 10-Q
TABLE OF CONTENTS
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
MICROSTRATEGY INCORPORATED
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
|
|
September 30, |
|
|
December 31, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
60,390 |
|
|
$ |
63,356 |
|
Restricted cash |
|
|
6,578 |
|
|
|
1,078 |
|
Accounts receivable, net |
|
|
109,926 |
|
|
|
189,280 |
|
Prepaid expenses and other current assets |
|
|
25,399 |
|
|
|
14,251 |
|
Total current assets |
|
|
202,293 |
|
|
|
267,965 |
|
Digital assets |
|
|
1,993,032 |
|
|
|
2,850,210 |
|
Property and equipment, net |
|
|
33,033 |
|
|
|
36,587 |
|
Right-of-use assets |
|
|
62,902 |
|
|
|
66,760 |
|
Deposits and other assets |
|
|
20,992 |
|
|
|
15,820 |
|
Deferred tax assets, net |
|
|
233,034 |
|
|
|
319,782 |
|
Total assets |
|
$ |
2,545,286 |
|
|
$ |
3,557,124 |
|
Liabilities and Stockholders’ (Deficit) Equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable, accrued expenses, and operating lease liabilities |
|
$ |
36,846 |
|
|
$ |
46,084 |
|
Accrued compensation and employee benefits |
|
|
46,346 |
|
|
|
54,548 |
|
Accrued interest |
|
|
11,394 |
|
|
|
1,493 |
|
Deferred revenue and advance payments |
|
|
165,934 |
|
|
|
209,860 |
|
Total current liabilities |
|
|
260,520 |
|
|
|
311,985 |
|
Long-term debt, net |
|
|
2,376,935 |
|
|
|
2,155,151 |
|
Deferred revenue and advance payments |
|
|
8,754 |
|
|
|
8,089 |
|
Operating lease liabilities |
|
|
69,278 |
|
|
|
76,608 |
|
Other long-term liabilities |
|
|
30,088 |
|
|
|
26,224 |
|
Deferred tax liabilities |
|
|
0 |
|
|
|
109 |
|
Total liabilities |
|
|
2,745,575 |
|
|
|
2,578,166 |
|
Commitments and Contingencies |
|
|
|
|
|
|
|
|
Stockholders’ (Deficit) Equity |
|
|
|
|
|
|
|
|
Preferred stock undesignated, $0.001 par value; 5,000 shares authorized; no shares issued or outstanding |
|
|
0 |
|
|
|
0 |
|
Class A common stock, $0.001 par value; 330,000 shares authorized; 18,038 shares issued and 9,354 shares outstanding, and 18,006 shares issued and 9,322 shares outstanding, respectively |
|
|
18 |
|
|
|
18 |
|
Class B convertible common stock, $0.001 par value; 165,000 shares authorized; 1,964 shares issued and outstanding, and 1,964 shares issued and outstanding, respectively |
|
|
2 |
|
|
|
2 |
|
Additional paid-in capital |
|
|
1,778,660 |
|
|
|
1,727,143 |
|
Treasury stock, at cost; 8,684 shares |
|
|
(782,104 |
) |
|
|
(782,104 |
) |
Accumulated other comprehensive loss |
|
|
(18,179 |
) |
|
|
(7,543 |
) |
(Accumulated deficit) retained earnings |
|
|
(1,178,686 |
) |
|
|
41,442 |
|
Total stockholders’ (deficit) equity |
|
|
(200,289 |
) |
|
|
978,958 |
|
Total liabilities and stockholders’ (deficit) equity |
|
$ |
2,545,286 |
|
|
$ |
3,557,124 |
|
The accompanying notes are an integral part of these Consolidated Financial Statements.
1
MICROSTRATEGY INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
|
|
Three Months Ended |
|
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenues: |
|
|
|
|
|
|
|
|
Product licenses |
|
$ |
22,286 |
|
|
$ |
25,830 |
|
Subscription services |
|
|
16,414 |
|
|
|
10,853 |
|
Total product licenses and subscription services |
|
|
38,700 |
|
|
|
36,683 |
|
Product support |
|
|
66,010 |
|
|
|
70,387 |
|
Other services |
|
|
20,650 |
|
|
|
20,924 |
|
Total revenues |
|
|
125,360 |
|
|
|
127,994 |
|
Cost of revenues: |
|
|
|
|
|
|
|
|
Product licenses |
|
|
406 |
|
|
|
383 |
|
Subscription services |
|
|
6,395 |
|
|
|
4,282 |
|
Total product licenses and subscription services |
|
|
6,801 |
|
|
|
4,665 |
|
Product support |
|
|
5,224 |
|
|
|
4,679 |
|
Other services |
|
|
13,360 |
|
|
|
12,975 |
|
Total cost of revenues |
|
|
25,385 |
|
|
|
22,319 |
|
Gross profit |
|
|
99,975 |
|
|
|
105,675 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
35,409 |
|
|
|
38,209 |
|
Research and development |
|
|
30,498 |
|
|
|
28,211 |
|
General and administrative |
|
|
27,283 |
|
|
|
23,751 |
|
Digital asset impairment losses |
|
|
727 |
|
|
|
65,165 |
|
Total operating expenses |
|
|
93,917 |
|
|
|
155,336 |
|
Income (loss) from operations |
|
|
6,058 |
|
|
|
(49,661 |
) |
Interest expense, net |
|
|
(14,073 |
) |
|
|
(10,723 |
) |
Other income, net |
|
|
4,897 |
|
|
|
1,264 |
|
Loss before income taxes |
|
|
(3,118 |
) |
|
|
(59,120 |
) |
Provision for (benefit from) income taxes |
|
|
23,961 |
|
|
|
(22,984 |
) |
Net loss |
|
$ |
(27,079 |
) |
|
$ |
(36,136 |
) |
Basic loss per share (1) |
|
$ |
(2.39 |
) |
|
$ |
(3.61 |
) |
Weighted average shares outstanding used in computing basic loss per share |
|
|
11,308 |
|
|
|
9,999 |
|
Diluted loss per share (1) |
|
$ |
(2.39 |
) |
|
$ |
(3.61 |
) |
Weighted average shares outstanding used in computing diluted loss per share |
|
|
11,308 |
|
|
|
9,999 |
|
(1) |
Basic and fully diluted loss per share for class A and class B common stock are the same. |
The accompanying notes are an integral part of these Consolidated Financial Statements.
2
MICROSTRATEGY INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Revenues: |
|
|
|
|
|
|
|
|
Product licenses |
|
$ |
58,928 |
|
|
$ |
69,261 |
|
Subscription services |
|
|
43,276 |
|
|
|
31,221 |
|
Total product licenses and subscription services |
|
|
102,204 |
|
|
|
100,482 |
|
Product support |
|
|
199,682 |
|
|
|
212,063 |
|
Other services |
|
|
64,824 |
|
|
|
63,702 |
|
Total revenues |
|
|
366,710 |
|
|
|
376,247 |
|
Cost of revenues: |
|
|
|
|
|
|
|
|
Product licenses |
|
|
1,314 |
|
|
|
1,290 |
|
Subscription services |
|
|
17,303 |
|
|
|
11,720 |
|
Total product licenses and subscription services |
|
|
18,617 |
|
|
|
13,010 |
|
Product support |
|
|
15,542 |
|
|
|
14,353 |
|
Other services |
|
|
42,107 |
|
|
|
40,543 |
|
Total cost of revenues |
|
|
76,266 |
|
|
|
67,906 |
|
Gross profit |
|
|
290,444 |
|
|
|
308,341 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
105,511 |
|
|
|
116,728 |
|
Research and development |
|
|
95,811 |
|
|
|
86,242 |
|
General and administrative |
|
|
82,491 |
|
|
|
68,397 |
|
Digital asset impairment losses |
|
|
1,088,656 |
|
|
|
684,034 |
|
Total operating expenses |
|
|
1,372,469 |
|
|
|
955,401 |
|
Loss from operations |
|
|
(1,082,025 |
) |
|
|
(647,060 |
) |
Interest expense, net |
|
|
(38,299 |
) |
|
|
(17,520 |
) |
Other income, net |
|
|
12,242 |
|
|
|
1,631 |
|
Loss before income taxes |
|
|
(1,108,082 |
) |
|
|
(662,949 |
) |
Provision for (benefit from) income taxes |
|
|
112,046 |
|
|
|
(217,446 |
) |
Net loss |
|
$ |
(1,220,128 |
) |
|
$ |
(445,503 |
) |
Basic loss per share (1) |
|
$ |
(107.99 |
) |
|
$ |
(45.47 |
) |
Weighted average shares outstanding used in computing basic loss per share |
|
|
11,299 |
|
|
|
9,798 |
|
Diluted loss per share (1) |
|
$ |
(107.99 |
) |
|
$ |
(45.47 |
) |
Weighted average shares outstanding used in computing diluted loss per share |
|
|
11,299 |
|
|
|
9,798 |
|
(1) |
Basic and fully diluted loss per share for class A and class B common stock are the same. |
The accompanying notes are an integral part of these Consolidated Financial Statements.
3
MICROSTRATEGY INCORPORATED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(in thousands)
|
|
Three Months Ended |
|
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Net loss |
|
$ |
(27,079 |
) |
|
$ |
(36,136 |
) |
Other comprehensive loss, net of applicable taxes: |
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
|
(4,514 |
) |
|
|
(1,457 |
) |
Total other comprehensive loss |
|
|
(4,514 |
) |
|
|
(1,457 |
) |
Comprehensive loss |
|
$ |
(31,593 |
) |
|
$ |
(37,593 |
) |
|
|
Nine Months Ended |
|
|
|
September 30, |
|
|
|
2022 |
|
|
2021 |
|
|
|
(unaudited) |
|
|
(unaudited) |
|
Net loss |
|
$ |
(1,220,128 |
) |
|
$ |
(445,503 |
) |
Other comprehensive loss, net of applicable taxes: |
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
|
(10,636 |
) |
|
|
(2,896 |
) |
Total other comprehensive loss |
|
|
(10,636 |
) |
|
|
(2,896 |
) |
Comprehensive loss |
|
$ |
(1,230,764 |
) |
|
$ |
(448,399 |
) |
The accompanying notes are an integral part of these Consolidated Financial Statements.
4
MICROSTRATEGY INCORPORATED
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ (DEFICIT) EQUITY
(in thousands, unaudited)
|
|
|
|
|
|
Class A |
|
|
Class B Convertible |
|
|
Additional |
|
|
|
|
|
|
|
|
|
|
Accumulated Other |
|
|
(Accumulated Deficit) |
|
|
|
|
|
|
|
Common Stock |
|
|
Common Stock |
|
|
Paid-in |
|
|
Treasury Stock |
|
|
Comprehensive |
|
|
Retained |
|
|
|
Total |
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Shares |
|
|
Amount |
|
|
Loss |
|
|
Earnings |
|
Balance at January 1, 2021 |
|
$ |
446,192 |
|
|
|
16,307 |
|
|
$ |
16 |
|
|
|
1,964 |
|
|
$ |
2 |
|
|
$ |
655,241 |
|
|
|
(8,684 |
) |
|
$ |
(782,104 |
) |
|
$ |
(3,885 |
) |
|
$ |
576,922 |
|
Net loss |
|
|
(110,020 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(110,020 |
) |
Other comprehensive loss |
|
|
(1,836 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(1,836 |
) |
|
|
0 |
|
Issuance of class A common stock upon exercise of stock options |
|
|
23,854 |
|
|
|
159 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
23,854 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
Share-based compensation expense |
|
|
6,848 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
6,848 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
Balance at March 31, 2021 |
|
$ |
365,038 |
|
|
|
16,466 |
|
|
$ |
16 |
|
|
|
1,964 |
|
|
$ |
2 |
|
|
$ |
685,943 |
|
|
|
(8,684 |
) |
|
$ |
(782,104 |
) |
|
$ |
(5,721 |
) |
|
$ |
466,902 |
|
Net loss |
|
|
(299,347 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(299,347 |
) |
Other comprehensive income |
|
|
397 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
397 |
|
|
|
0 |
|
Issuance of class A common stock upon exercise of stock options |
|
|
244 |
|
|
|
2 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
244 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
Share-based compensation expense |
|
|
11,087 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
11,087 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
Balance at June 30, 2021 |
|
$ |
77,419 |
|
|
|
16,468 |
|
|
$ |
16 |
|
|
|
1,964 |
|
|
$ |
2 |
|
|
$ |
697,2 |