Strategy Inc (MSTR) Revenue History
Annual and quarterly revenue from 1997 to present
MSTR Revenue Over Time (1997–2025)
MSTR Revenue Growth History
17 of 28 years with positive growth- FY1997 revenue growth
- N/A
- FY1998 revenue growth
- +81.7%
- FY1999 revenue growth
- +58.4%
- FY2000 revenue growth
- +42.3%
- FY2001 revenue growth
- -16.2%
- FY2002 revenue growth
- -18.1%
- FY2003 revenue growth
- +18.8%
- FY2004 revenue growth
- +31.7%
- FY2005 revenue growth
- +16.2%
- FY2006 revenue growth
- +16.8%
- FY2007 revenue growth
- +11.7%
- FY2008 revenue growth
- +2.8%
- FY2009 revenue growth
- +4.8%
- FY2010 revenue growth
- +20.3%
- FY2011 revenue growth
- +18.2%
- FY2012 revenue growth
- +5.3%
- FY2013 revenue growth
- +1.8%
- FY2014 revenue growth
- +0.7%
- FY2015 revenue growth
- -8.6%
- FY2016 revenue growth
- -3.1%
- FY2017 revenue growth
- -1.9%
- FY2018 revenue growth
- -1.2%
- FY2019 revenue growth
- -2.3%
- FY2020 revenue growth
- -1.1%
- FY2021 revenue growth
- +6.2%
- FY2022 revenue growth
- -2.3%
- FY2023 revenue growth
- -0.6%
- FY2024 revenue growth
- -6.6%
- FY2025 revenue growth
- +3.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $124.3M | +11.9% |
| Q4 2025 | $123.0M | +1.9% |
| Q3 2025 | $128.7M | +10.9% |
| Q2 2025 | $114.5M | +2.7% |
| Q1 2025 | $111.1M | -3.6% |
| Q4 2024 | $120.7M | -3.0% |
| Q3 2024 | $116.1M | -10.3% |
| Q2 2024 | $111.4M | -7.4% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
MSTR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
MSTR Revenue Analysis (1997–2025)
Current Revenue & Growth
As of June 21, 2026, Strategy Inc (MSTR) generated trailing twelve-month (TTM) revenue of $490.5 million, reflecting strong growth of +11.9% year-over-year. The most recent quarter (Q1 2026) recorded $124.3 million in revenue, up 1.1% sequentially.
Historical Growth Trajectory
MSTR's 5-year compound annual growth rate (CAGR) stands at -0.1%, indicating revenue contraction over this period. The 3-year CAGR of -1.5% is below the 5-year average, signalling a growth deceleration in recent years. Strategy Inc's highest annual revenue of $579.8 million was recorded in 2014.
Revenue by Segment
MSTR's revenue is primarily driven by Product Licenses And Subscription Services (50%), Subscription And Circulation (41%), and License (9%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Technology sector peers — including COIN, MARA, and RIOT — MSTR has underperformed the peer group in revenue growth. Compare MSTR vs COIN →
MSTR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MSTRCurrent | $490M | +11.9% | -0.1% | -1140.8% | |
 COIN | $7.2B | - | - | 20.0% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 CLSK | $766M | +37.7% | +138.0% | 41.6% | |
 HUT | $15M | - | - | -2104.6% |
MSTR Historical Revenue Data (1997–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $477.2M | +3.0% | $327.8M | 68.7% | $-5,444,385,000 | -1140.8% |
| 2024 | $463.5M | -6.6% | $334.0M | 72.1% | $-1,852,978,000 | -399.8% |
| 2023 | $496.3M | -0.6% | $386.3M | 77.8% | $-115,047,000 | -23.2% |
| 2022 | $499.3M | -2.3% | $396.3M | 79.4% | $-1,275,742,000 | -255.5% |
| 2021 | $510.8M | +6.2% | $418.9M | 82.0% | $-784,527,000 | -153.6% |
| 2020 | $480.7M | -1.1% | $389.7M | 81.1% | $-13,625,000 | -2.8% |
| 2019 | $486.3M | -2.3% | $386.4M | 79.4% | $-1,002,000 | -0.2% |
| 2018 | $497.6M | -1.2% | $398.1M | 80.0% | $4.0M | 0.8% |
| 2017 | $503.8M | -1.9% | $407.2M | 80.8% | $73.2M | 14.5% |
| 2016 | $513.6M | -3.1% | $420.4M | 81.9% | $109.5M | 21.3% |
| 2015 | $529.9M | -8.6% | $428.8M | 80.9% | $134.0M | 25.3% |
| 2014 | $579.8M | +0.7% | $444.6M | 76.7% | $5.1M | 0.9% |
| 2013 | $575.9M | +1.8% | $437.3M | 75.9% | $19.4M | 3.4% |
| 2012 | $565.7M | +5.3% | $424.6M | 75.1% | $33.1M | 5.9% |
| 2011 | $537.2M | +18.2% | $406.5M | 75.7% | $20.9M | 3.9% |
Full Stock Analysis
Deep dive into MSTR consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
29+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
MSTR — Frequently Asked Questions
Quick answers to the most common questions about buying MSTR stock.
Is MSTR's revenue growth accelerating or slowing?
MSTR revenue growth is holding steady at +11.9% year-over-year. TTM revenue is $490M. The current growth rate closely tracks the 5-year CAGR of -0.1%, signalling consistent execution.
What is MSTR's revenue history from 1997 to 2026?
Strategy Inc (MSTR) revenue history spans 1997 to 2026. TTM revenue as of 2026 is $490M, growing at +11.9% YoY. The 5-year CAGR is -0.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is MSTR's long-term revenue growth rate (CAGR)?
Strategy Inc's 5-year revenue CAGR of -0.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +11.9% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for MSTR.
Why does MSTR's quarterly revenue fluctuate?
MSTR quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Strategy Inc's revenue data from 1997 to 2026 shows full historical quarterly detail on this page.
How is MSTR's revenue distributed by segment?
MSTR reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does MSTR's revenue compare to industry peers?
Strategy Inc (MSTR) with TTM revenue of $490M and +11.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.