MicroStrategy, a pioneer in enterprise analytics and Bitcoin investment, has reported significant financial and operational developments in its latest quarterly report. The company's financial performance for the quarter ending June 30, 2024, showed a net loss of $102.6 million, with a basic and diluted loss per share of $0.57. This represents a decline from the previous year's net income of $22.2 million and earnings per share of $0.17. The company's operating expenses were heavily impacted by digital asset impairment losses, which accounted for 64.1% of the total operating expenses. In terms of business development, MicroStrategy continued its Bitcoin acquisition strategy, purchasing approximately 169 bitcoins for $11.4 million, averaging $67,483 per bitcoin. The company also faced a substantial digital asset impairment loss of $275.5 million during the third quarter...Show More

MicroStrategy, a pioneer in enterprise analytics and Bitcoin investment, has reported significant financial and operational developments in its latest quarterly report. The company's financial performance for the quarter ending June 30, 2024, showed a net loss of $102.6 million, with a basic and diluted loss per share of $0.57. This represents a decline from the previous year's net income of $22.2 million and earnings per share of $0.17. The company's operating expenses were heavily impacted by digital asset impairment losses, which accounted for 64.1% of the total operating expenses. In terms of business development, MicroStrategy continued its Bitcoin acquisition strategy, purchasing approximately 169 bitcoins for $11.4 million, averaging $67,483 per bitcoin. The company also faced a substantial digital asset impairment loss of $275.5 million during the third quarter of 2024. Additionally, MicroStrategy announced a 10-for-1 stock split to be effected as a stock dividend, with trading on a split-adjusted basis expected to commence on August 8, 2024. Looking ahead, the company outlined its future plans, which include a new at-the-market equity offering program allowing the sale of class A common stock up to $2.0 billion, and the continued focus on its enterprise analytics software strategy with the MicroStrategy ONE platform. The company's liquidity position was bolstered by financing activities, including the issuance of convertible notes and the sale of class A common stock.