- \n
- \n843,775 bitcoin holdings, 25% growth year to date 2026<\/p>\n<\/li>\n
- \n4.5% BTC Yield achieved year to date<\/p>\n<\/li>\n<\/ul>\n
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- \nBTC Monetization Program established; $218.4 million of sales year to date 2026<\/p>\n<\/li>\n<\/ul>\n
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Digital Equity Highlights (as of July 26, 2026)<\/b><\/p>\n
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- \n$17.06 billion of capital raised year to date through our ATM programs<\/p>\n<\/li>\n<\/ul>\n
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- \n$1.0 billion MSTR repurchase program established; no repurchases to date<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nIntroduced new metrics such as BTC Hurdle ARR & Net Bitcoin Per Share on Strategy.com<\/p>\n<\/li>\n<\/ul>\n
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Digital Credit Highlights (as of July 26, 2026)<\/b><\/p>\n
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- \nSTRC issuances raised $7.53 billion year to date 2026, representing a 254% growth<\/p>\n<\/li>\n
- \n$1.06 billion in cumulative dividends paid on all preferred stock to date<\/p>\n<\/li>\n
- \nGrew the USD Reserve to $3.75 billion, over 2.1 years of coverage, reserved for dividends and interest<\/p>\n<\/li>\n
- \nRepurchased $28.9 million aggregate notional amount of STRC for $25.0 million, a 13% discount to par<\/p>\n<\/li>\n<\/ul>\n
TYSONS CORNER, Va.–(BUSINESS WIRE<\/a>)–
\nStrategy Inc (Nasdaq: STRF\/STRC\/STRK\/STRD\/MSTR; LuxSE: STRE) (\u201cStrategy\u201dor the \u201cCompany\u201d), the largest institutional holder of bitcoin and the world\u2019s first Bitcoin Treasury Company, today announces financial results for the three-month period ended June 30, 2026 (the second quarter of its 2026 fiscal year).<\/p>\n\u201cIn the second quarter of 2026, Strategy strengthened its balance sheet while navigating a meaningful bitcoin price decline. We grew our bitcoin holdings by 11% to 846,000 bitcoin, reduced our convertible debt by 18% to $6.7 billion, increased our USD Reserve by 12% to $2.4 billion, and grew Bitcoin Per Share by 5%. Our objective is for STRC to trade over time at $99 to $100. If STRC trades below $100, we intend to repurchase STRC shares in a regular and disciplined manner, scaling our repurchases according to market price and liquidity. These repurchases are an attractive use of capital that reduces our future preferred dividend requirements at a discount while allowing independent market demand to establish a healthy and sustainable market,\u201d<\/i> said Phong Le, President and Chief Executive Officer.<\/p>\n
\u201cStrategy’s USD Reserve currently stands at $3.75 billion, which is enough to cover our existing preferred dividend payments and interest obligations for more than 2.1 years. We’ve also built a track record of 18 months of consecutive dividend payments, having never missed a dividend despite the recent deep drawdown in bitcoin price. To give investors clearer transparency into our credit quality and equity strength, we’ve introduced a set of enhanced metrics, now available on strategy.com. Our BTC Hurdle ARR of 10.8% represents our current effective cost of credit. If BTC ARR is above this rate, Net BTC Per Share captures a positive spread and appreciates faster than bitcoin on a go-forward basis,\u201d<\/i> said Andrew Kang, Chief Financial Officer.<\/p>\n
\u201cIn the midst of this phase of muted bitcoin sentiment and market skepticism, we continue to evolve our business model and establish Digital Credit as a new asset class. Our plan is to return STRC to health with stable demand, high liquidity, and low volatility trading near par. We believe this is the best way to create shareholder value over the long term,\u201d<\/i> said Michael Saylor, Founder and Executive Chairman.<\/p>\n
Q2 Financial Summary<\/b><\/p>\n
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- Operating Loss: <\/b>Operating loss for the second quarter of 2026 was $8.33 billion, compared to $14.03 billion operating income for the second quarter of 2025. Operating loss for the second quarter of 2026 includes an unrealized loss on the Company\u2019s digital assets of $8.32 billion, compared to an unrealized gain on the Company\u2019s digital assets of $14.05 billion for the second quarter of 2025.\n<\/li>\n
- Net Loss and Net Loss Attributable to Common Stock:<\/b> For the second quarter of 2026, the Company reported a net loss of $8.22 billion, or a net loss of $24.45 per common share on a diluted basis, as compared to a net income of $10.02 billion, or a net income of $32.60 per common share on a diluted basis, for the second quarter of 2025. Net loss attributable to common stockholders for the second quarter of 2026 was $8.62 billion, reflecting $400.7 million of dividends on preferred stock, compared to net income attributable to common stockholders of $9.97 billion, reflecting $49.1 million of dividends on preferred stock, for the second quarter of 2025.\n<\/li>\n
- Cash and Cash Equivalents, and Short-term Investments:<\/b> As of June 30, 2026, the Company had cash and cash equivalents of $1.71 billion, as compared to $2.21 billion as of March 31, 2026. As of June 30, 2026, the company had short term investments of $736.1 million; there were no short-term investments as of March 31, 2026.\n<\/li>\n
- Revenues:<\/b> Total revenues for the second quarter of 2026 were $122.4 million, compared to total revenues of $114.5 million for the second quarter of 2025, a 6.9% increase year-over-year.\n<\/li>\n
- Gross Profit:<\/b> Gross profit for the second quarter of 2026 was $81.6 million, representing a 66.6% gross margin, compared to $78.7 million, representing a gross margin of 68.8%, for the second quarter of 2025.\n<\/li>\n<\/ul>\n
Bitcoin Summary (as of July 26, 2026)<\/b><\/p>\n
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- BTC Yield:<\/b> Achieved BTC Yield of 4.5% in 2026 YTD.\n<\/li>\n
- BTC Gain:<\/b> Achieved BTC Gain of 29,997 in 2026 YTD.\n<\/li>\n
- BTC $ Gain:<\/b> Achieved BTC $ Gain of $1.95 billion in 2026 YTD, based on the July 27, 2026, bitcoin market price of $64,915.\n<\/li>\n
- Digital Assets:<\/b> As of July 26, 2026, the Company\u2019s digital assets were comprised of approximately 843,775 bitcoins, with an original cost basis and market value of $63.69 billion and $54.77 billion, respectively, which reflect an average cost per bitcoin of approximately $75,476 and a market price per bitcoin of approximately $64,915 as of July 27, 2026.\n<\/li>\n<\/ul>\n
Capital Markets Summary (as of July 26, 2026)<\/b><\/p>\n
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- ATM Offerings:<\/b> The Company received aggregate gross proceeds of approximately $8.41 billion during the three months ended June 30, 2026, and additional aggregate gross proceeds of approximately $1.28 billion between July 1, 2026, and July 26, 2026, from the following sales made under its at-the-market offering program (“ATM”).\n<\/li>\n<\/ul>\n
- BTC Gain:<\/b> Achieved BTC Gain of 29,997 in 2026 YTD.\n<\/li>\n
- Net Loss and Net Loss Attributable to Common Stock:<\/b> For the second quarter of 2026, the Company reported a net loss of $8.22 billion, or a net loss of $24.45 per common share on a diluted basis, as compared to a net income of $10.02 billion, or a net income of $32.60 per common share on a diluted basis, for the second quarter of 2025. Net loss attributable to common stockholders for the second quarter of 2026 was $8.62 billion, reflecting $400.7 million of dividends on preferred stock, compared to net income attributable to common stockholders of $9.97 billion, reflecting $49.1 million of dividends on preferred stock, for the second quarter of 2025.\n<\/li>\n
- Operating Loss: <\/b>Operating loss for the second quarter of 2026 was $8.33 billion, compared to $14.03 billion operating income for the second quarter of 2025. Operating loss for the second quarter of 2026 includes an unrealized loss on the Company\u2019s digital assets of $8.32 billion, compared to an unrealized gain on the Company\u2019s digital assets of $14.05 billion for the second quarter of 2025.\n<\/li>\n
- \nIntroduced new metrics such as BTC Hurdle ARR & Net Bitcoin Per Share on Strategy.com<\/p>\n<\/li>\n<\/ul>\n
- \n$1.0 billion MSTR repurchase program established; no repurchases to date<\/p>\n<\/li>\n<\/ul>\n
- \n$17.06 billion of capital raised year to date through our ATM programs<\/p>\n<\/li>\n<\/ul>\n
- \nBTC Monetization Program established; $218.4 million of sales year to date 2026<\/p>\n<\/li>\n<\/ul>\n
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