MicroStrategy Q3 loss narrows, but revenue drops year-over-year; 301 BTC added to portfolio


Released by MicroStrategy earnings report For the third quarter of 2022, November 1, we delivered “strong” year-over-year growth in subscription services and “record” growth in subscription billing, but still posted a net loss of $10.8 million. It said it recorded a year-over-year decline in revenue. .

“We continue to see global adoption of our cloud platform by our domestic and international customers, and despite ongoing macroeconomic headwinds, our Q3 renewal rate was 95%. With , we can benefit from the long-term durability of our enterprise analytics business,” said Phong Le, President and CEO of MicroStrategy.

The company reported total revenue for the third quarter of 2022 of $125.4 million. This was down from $128 million in revenue in Q3 2021, but up from his $122.1 million revenue reported in Q2 2022.

among them Form 10-Q MicroStrategy’s non-GAAP diluted loss for the third quarter, filed with the U.S. Securities and Exchange Commission (SEC), was $10.8 million, or $0.96 per share, compared with $28.4 million, or $28.4 million per share, in the year-ago quarter. $2.84) loss.

As the world’s largest listed Bitcoin holder, the company currently stands at 130,000 BTC. About 301 BTC were bought for $6 million in Q3, with an average purchase price of $19,851 per BTC. Since starting adding BTC to its balance sheet in 2019, the company has spent a total of $3.983 billion on purchases, or about $30,639 per BTC.

Last quarter’s crypto market volatility devastated the value of MicroStrategy’s bitcoin holdings. The company has reported losses of $918 million in digital assets held by him, bringing the cumulative impairment losses to his $2 billion since he began buying Bitcoin.

According to its earnings report, the company had accumulated impairment losses of $1.99 billion and an average book value per bitcoin of $15,331.

This quarter, Bitcoin holdings recorded a loss of just $700,000 million compared to the previous quarter. This reflects the much less volatile cryptocurrency market.

MicroStrategy CFO Andrew Kang said:

Companies listed on the NASDAQ stock It has rebounded from a 15% decline in early October and has risen above its September high of $262.2.

Posted In: Bitcoin, Recruitment

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