MicroStrategy Q4 Earnings: Revenue Miss, Bitcoin Strategy Update And More

MicroStrategy Inc MSTR reported fourth-quarter financial results after the market closed on Tuesday. Here’s a rundown of the report.

Q4 Earnings: MicroStrategy said fourth-quarter revenue decreased 6.1% year-over-year to $124.5 million, which missed the consensus estimate of $132.9 million, according to Benzinga Pro. 

The company reported quarterly adjusted earnings of $5.62 per share, which may not compare to analyst estimates of 55 cents.

Product licenses and subscription services revenues were down 11.4% in the fourth quarter. Product support revenues fell 2.1%, and other services revenue declined 7.5%.

MicroStrategy reported approximately $1.2 billion in net proceeds from at-the-market offerings during the fourth quarter. The company ended the quarter with $46.8 million in cash and equivalents.

“2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings, and continued to innovate, including by developing and launching MicroStrategy AI, our first to market AI-based BI tool,” said Phong Le, president and CEO of MicroStrategy.

Bitcoin Holdings: MicroStrategy said it has acquired 31,755 Bitcoin BTC/USD since the end of the third quarter at an average price of $39,411 per coin.

As of Feb. 5, the company held a total of 189,150 Bitcoin at an average cost per coin of $31,224.

Check This Out: Grayscale CEO Pushes For Spot Bitcoin ETF Options Approval: ‘We’ll See More Crypto ETFs In Next 3-5 Years’

Management will hold a conference call to discuss these results at 5 p.m. ET.

MSTR Price Action: MicroStrategy shares were down 0.62% after hours at $494.90 at the time of publication, according to Benzinga Pro.

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