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Strategy (MSTR)

Strategy reported Q3 operating income of $20.91 billion, from a gain on its bitcoin, grew its US dollar reserve to $5.07 billion, and said its CFO will step down on 2026-11-05.

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Information and analysis only, not a recommendation to buy, sell or hold any security. The author may own securities discussed.

Researched and drafted with AI agents. Every figure is taken from a source cited on the page.

Analysis and information

What it does

Strategy owns about 848,517 bitcoin, acquired for $64.02 billion. It raises money by issuing common stock and four series of preferred stock (STRF, STRC, STRK and STRD). It keeps a US dollar reserve, which it uses to pay preferred dividends.

Role in the theme

In Crypto, Strategy is the bitcoin treasury company of the group. Its reported results turn mainly on the bitcoin price.

Latest

  • 2026-10-29 (Q3 results): Operating income was $20.91 billion, which includes a $20.91 billion gain on its digital assets. Net income was $19.53 billion; diluted earnings per common share were $44.75.
  • 2026-10-29: As of 2026-10-25, Strategy said it had repurchased $2.04 billion of STRC preferred stock, including trades not yet settled, and its US dollar assets were $5.07 billion, which it said cover 3.4 years of dividend and interest obligations.
  • 2026-10-29: Chief Financial Officer Andrew Kang will step down on 2026-11-05. CEO Phong Le will act as principal financial officer, and Reza Virasteh, now head of operations, becomes CFO on 2027-01-01.
  • 2026-10-28: Preliminary results of a special meeting show approval of changes that let the four preferred series pay daily dividends. The daily schedule starts on 2026-11-01 for STRC and on 2027-01-01 for the other three.
  • 2026-10-26: Strategy acquired no bitcoin from 2026-10-19 to 2026-10-25 and issued no stock under its at-the-market programs.

What to watch

  • Whether bitcoin purchases resume, or preferred repurchases continue.
  • The US dollar reserve, $5.07 billion on 2026-10-25.
  • The CFO handover on 2026-11-05 and 2027-01-01.
  • Next report: Q4 2026 results, date not yet announced.

Covered in

Sources

Primary means the publisher of the data or the filing; secondary means press or an aggregator.