Summary by Moomoo AI
MicroStrategy reported a net loss of $1.17 billion for fiscal year 2024, primarily due to $1.79 billion in digital asset impairment losses. Total revenues were $463.5 million, down 6.6% from $496.3 million in 2023. As of December 31, 2024, the company held approximately 447,470 bitcoins acquired for $27.97 billion at an average price of $62,503 per bitcoin.The company significantly expanded its bitcoin holdings through multiple capital raises in 2024, including $16.33 billion from stock offerings and $6.21 billion from convertible notes. Subscription services revenue grew 31.5% to $106.8 million, while product licenses revenue declined 35.5% to $48.6 million as the company continued transitioning customers to cloud offerings. Operating expenses increased substantially to $2.19 billion, mainly due to digital asset impairment charges.Looking ahead, MicroStrategy adopted new accounting standards effective January 1, 2025 that will require measuring bitcoin at fair value, with gains and losses recognized in net income. The company expects this change will result in a $12.75 billion cumulative-effect adjustment to retained earnings. As of February 14, 2025, MicroStrategy's bitcoin holdings increased to approximately 478,740 BTC with a market value of $46.55 billion.
Comment(0)
Reason For Report