MicroStrategy reported Q3 2024 total revenues of $116.1 million, down 10% year-over-year, with subscription services revenue growing 33% to $27.8 million while product licenses revenue declined 54% to $11.1 million. The company recorded a digital asset impairment loss of $412.1 million on its bitcoin holdings, contributing to a net loss of $340.2 million for the quarter.As of September 30, 2024, MicroStrategy held approximately 252,220 bitcoins acquired at an aggregate purchase price of $9.9 billion, reflecting an average purchase price of $39,266 per bitcoin. During Q3, the company purchased 25,889 additional bitcoins for $1.6 billion using proceeds from equity offerings and convertible notes. The carrying value of total bitcoin holdings was $6.9 billion after cumulative impairment losses of $3.1 billion.The company continued its capital raising activities, issuing $1.0 billion of 2028 Convertible Notes and completing at-the-market equity offerings. Operating expenses increased significantly to $514.3 million primarily due to bitcoin impairment charges. The subscription services business showed strong momentum with 33% revenue growth as the company transitions customers to its cloud platform.

MicroStrategy reported Q3 2024 total revenues of $116.1 million, down 10% year-over-year, with subscription services revenue growing 33% to $27.8 million while product licenses revenue declined 54% to $11.1 million. The company recorded a digital asset impairment loss of $412.1 million on its bitcoin holdings, contributing to a net loss of $340.2 million for the quarter.As of September 30, 2024, MicroStrategy held approximately 252,220 bitcoins acquired at an aggregate purchase price of $9.9 billion, reflecting an average purchase price of $39,266 per bitcoin. During Q3, the company purchased 25,889 additional bitcoins for $1.6 billion using proceeds from equity offerings and convertible notes. The carrying value of total bitcoin holdings was $6.9 billion after cumulative impairment losses of $3.1 billion.The company continued its capital raising activities, issuing $1.0 billion of 2028 Convertible Notes and completing at-the-market equity offerings. Operating expenses increased significantly to $514.3 million primarily due to bitcoin impairment charges. The subscription services business showed strong momentum with 33% revenue growth as the company transitions customers to its cloud platform.