On April 29, 2024, MicroStrategy Incorporated reported its financial results for the first quarter ending March 31, 2024. The company, recognized as the largest corporate holder of bitcoin and a leading independent business intelligence company, disclosed a decrease in total revenues to $115.2 million, down 5% from the previous year. Despite this, subscription services revenues increased by 22% year-over-year to $23.0 million. The quarter also saw the company acquire an additional 25,250 bitcoins, bringing its total holdings to 214,400 bitcoins, with an average purchase price of $35,180 per bitcoin. The company's aggressive investment in bitcoin was accompanied by significant impairment losses on digital assets amounting to $191.6 million for the quarter. MicroStrategy's net loss was reported at $53.1 million, or $3.09 per diluted share, a stark contrast to the net...Show More

On April 29, 2024, MicroStrategy Incorporated reported its financial results for the first quarter ending March 31, 2024. The company, recognized as the largest corporate holder of bitcoin and a leading independent business intelligence company, disclosed a decrease in total revenues to $115.2 million, down 5% from the previous year. Despite this, subscription services revenues increased by 22% year-over-year to $23.0 million. The quarter also saw the company acquire an additional 25,250 bitcoins, bringing its total holdings to 214,400 bitcoins, with an average purchase price of $35,180 per bitcoin. The company's aggressive investment in bitcoin was accompanied by significant impairment losses on digital assets amounting to $191.6 million for the quarter. MicroStrategy's net loss was reported at $53.1 million, or $3.09 per diluted share, a stark contrast to the net income of $461.2 million, or $31.79 per diluted share, in the same quarter of the previous year. The company's cash and cash equivalents stood at $81.3 million as of March 31, 2024. Additionally, MicroStrategy issued $800.0 million in 0.625% Convertible Senior Notes due 2030 and $603.8 million in 0.875% Convertible Senior Notes due 2031, with net proceeds contributing to the purchase of more bitcoins.