As of March 31, 2023, the original cost basis and market value of MicroStrategy’s bitcoin were $4.172 billion and $3.986 billion, respectively, which reflects an average cost per bitcoin of approximately $29,803 and a market price per bitcoin of $28,468.44, respectively. Benefits from income taxes of $453.2 million and $48.0 million for the first quarter of 20, respectively, and a gain on debt extinguishment of $44.7 million for the first quarter of 2023 were reflected in net income (loss).Ĭash and Cash Equivalents: As of March 31, 2023, MicroStrategy had cash and cash equivalents of $94.3 million, as compared to $43.8 million as of December 31, 2022, an increase of $50.5 million.ĭigital Assets: As of March 31, 2023, the carrying value of MicroStrategy’s digital assets (comprised of approximately 140,000 bitcoins) was $2.000 billion, which reflects cumulative impairment losses of $2.172 billion since acquisition and an average carrying amount per bitcoin of approximately $14,289. Digital asset impairment losses of $18.9 million and $170.1 million for the first quarter of 20, respectively, were reflected in these amounts. Net income for the first quarter of 2023 was $461.2 million, or $31.79 per share on a diluted basis, as compared to a net loss of $130.8 million, or $(11.58) per share on a diluted basis, for the first quarter of 2022. Loss from Operations and Net Income (Loss): Loss from operations for the first quarter of 2023 was $20.3 million, compared to $170.0 million for the first quarter of 2022. Operating expenses include impairment losses on MicroStrategy’s digital assets, which were $18.9 million during the first quarter of 2023, compared to $170.1 million in the first quarter of 2022. Operating Expenses: Operating expenses for the first quarter of 2023 were $114.3 million, a 56.6% decrease compared to the first quarter of 2022. Gross Profit: Gross profit for the first quarter of 2023 was $94.0 million, representing a 77.1% gross margin, compared to a gross profit of $93.6 million, representing a gross margin of 78.5%, for the first quarter of 2022. Other services revenues for the first quarter of 2023 were $20.2 million, an 11.2% decrease, or a 7.5% decrease on a non-GAAP constant currency basis, compared to the first quarter of 2022. Product support revenues for the first quarter of 2023 were $65.5 million, a 2.5% decrease, or a 0.3% decrease on a non-GAAP constant currency basis, compared to the first quarter of 2022. Product licenses and subscription services revenues for the first quarter of 2023 were $36.2 million, a 23.4% increase, or a 29.5% increase on a non-GAAP constant currency basis, compared to the first quarter of 2022. Revenues: Total revenues for the first quarter of 2023 were $121.9 million, a 2.2% increase, or a 5.7% increase on a non-GAAP constant currency basis, compared to the first quarter of 2022.
#Dossier in microstrategy software#
Our goals for the enterprise analytics software business remain to grow our revenues and transition that business to the cloud while rigorously managing costs and strengthening margin as we focus on product innovation and winning market share," said Andrew Kang, Chief Financial Officer, MicroStrategy. We also continued to strategically manage our balance sheet through the addition of 7,500 bitcoin in the quarter for a total of 140,000. "In Q1, we strengthened our capital structure by reducing leverage by fully repaying our bitcoin-backed loan. Furthermore, we are extremely excited to return to an in-person MicroStrategy World, showcasing the competitive advantages of our MicroStrategy One platform and highlighting the key areas of product innovation that will carry MicroStrategy into the future," said Phong Le, President and Chief Executive Officer, MicroStrategy. The conviction in our bitcoin strategy remains strong as the digital asset environment continues to mature.
#Dossier in microstrategy drivers#
"The durability of our enterprise BI platform and the depth of our existing customer base continued to act as the drivers of growth in total revenue during the first quarter of 2023. TYSONS CORNER, Va., May 01, 2023-( BUSINESS WIRE)- MicroStrategy ® Incorporated (Nasdaq: MSTR) ("MicroStrategy" or the "Company"), the largest independent publicly-traded business intelligence company, today announced financial results for the three-month period ended Ma(the first quarter of its 2023 fiscal year).
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