MicroStrategy, a leading enterprise analytics and Bitcoin development company, reported its financial results for the first quarter ended March 31, 2024. The company's total consolidated revenues for the quarter were $115.2 million, a decrease from $121.9 million in the same period last year. Gross profit stood at $85.2 million, down from $94 million year-on-year. The company experienced a significant loss from operations of $203.7 million, compared to a loss of $20.3 million in the previous year, primarily due to increased total operating expenses, which included substantial digital asset impairment losses of $191.6 million. Geographically, the U.S. region contributed $64.4 million in total revenues, while EMEA and Other Regions contributed $38.4 million and $12.5 million, respectively. MicroStrategy's business development continued to focus on its software platform and Bitcoin...Show More

MicroStrategy, a leading enterprise analytics and Bitcoin development company, reported its financial results for the first quarter ended March 31, 2024. The company's total consolidated revenues for the quarter were $115.2 million, a decrease from $121.9 million in the same period last year. Gross profit stood at $85.2 million, down from $94 million year-on-year. The company experienced a significant loss from operations of $203.7 million, compared to a loss of $20.3 million in the previous year, primarily due to increased total operating expenses, which included substantial digital asset impairment losses of $191.6 million. Geographically, the U.S. region contributed $64.4 million in total revenues, while EMEA and Other Regions contributed $38.4 million and $12.5 million, respectively. MicroStrategy's business development continued to focus on its software platform and Bitcoin strategy. The company has been actively acquiring Bitcoin, holding approximately 214,278 bitcoins as of March 31, 2024. The company's future plans include further investment in Bitcoin and the development of Bitcoin applications, leveraging its software development capabilities to promote its vision of Intelligence Everywhere™. Despite the current losses, MicroStrategy remains committed to its Bitcoin acquisition strategy and cloud-native enterprise analytics software, MicroStrategy ONE™, which includes advanced AI capabilities.