Strategy reported FY 2025 total revenues of USD 477.23 million (+3.0%), including subscription services revenue of USD 175.66 million (+64.5%) and product licenses revenue of USD 39.67 million (-18.3%), while product support revenue fell to USD 204.23 million (-16.2%). Gross profit was USD 327.82 million (-1.8%), and loss from operations widened to USD 5.44 billion (from USD 1.85 billion), reflecting an unrealized loss on digital assets of USD 5.40 billion following adoption of ASU 2023-08 on January 1, 2025 (FY 2024 included USD 1.79 billion of digital asset impairment losses under the prior accounting model). Interest expense, net was USD 64.97 million in FY 2025 (vs. USD 61.94 million), and the company recorded an income tax benefit of USD 1.68 billion on a pretax loss of USD 5.53 billion (effective tax rate 30.4%). On the bitcoin side, Strategy ended FY 2025 with 672,500 bitcoins, up from 447,470 a year earlier, after purchasing USD 22.47 billion of bitcoin during FY 2025; bitcoin per assumed diluted share (BPS) was 194,986 sats at December 31, 2025, and FY 2025 BTC Yield was 22.8% (vs. 74.3% in FY 2024). The company reported no sales of digital assets in FY 2025 and FY 2024. Strategy also said it established a USD Reserve in December 2025 to support preferred dividends and interest; as of February 13, 2026 the USD Reserve balance was USD 2.25 billion. Capital markets activity in FY 2025 included net proceeds of USD 23.17 billion from share sales (including USD 16.25 billion from Class A common stock) and USD 1.98 billion of net proceeds from issuance of 2030B convertible notes; Strategy also completed five preferred stock IPOs in FY 2025 and paid USD 381.37 million of preferred dividends during the year.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Strategy Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001050446-26-000020), on February 19, 2026, and is solely responsible for the information contained therein.