Strategy annual operating expenses
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Strategy Operating Expenses Growth & History (MSTR)
Strategy's operating expenses was $5.77B for fiscal 2025.
View full Strategy company overviewStrategy annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $5.77B | $3.59B | +163.94% |
| 2024 | 2024-12-31 | $2.19B | $1.69B | +336.20% |
| 2023 | 2023-12-31 | $501.4M | −$1.17B | −70.01% |
| 2022 | 2022-12-31 | $1.67B | $468.6M | +38.94% |
| 2021 | 2021-12-31 | $1.20B | $800.1M | +198.38% |
| 2020 | 2020-12-31 | $403.3M | $15.9M | +4.12% |
| 2019 | 2019-12-31 | $387.4M | −$6.8M | −1.73% |
| 2018 | 2018-12-31 | $394.2M | $60.2M | +18.02% |
| 2017 | 2017-12-31 | $334.0M | $23.0M | +7.41% |
| 2016 | 2016-12-31 | $310.9M | $16.2M | +5.49% |
| 2015 | 2015-12-31 | $294.7M | −$144.8M | −32.94% |
| 2014 | 2014-12-31 | $439.5M | $21.6M | +5.18% |
| 2013 | 2013-12-31 | $417.9M | $26.3M | +6.72% |
| 2012 | 2012-12-31 | $391.5M | $5.9M | +1.54% |
| 2011 | 2011-12-31 | $385.6M | $87.7M | +29.44% |
| 2010 | 2010-12-31 | $297.9M | $73.0M | +32.47% |
| 2009 | 2009-12-31 | $224.9M | — | — |
Strategy quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $8.41B | −$5.54B | −39.71% |
| Q1 2026 | 2026-03-31 | $14.55B | $8.56B | +142.62% |
| Q4 2025 | 2025-12-31 | $17.53B | $16.42B | +1489.11% |
| Q3 2025 | 2025-09-30 | $3.80B | $3.29B | +638.89% |
| Q2 2025 | 2025-06-30 | $13.95B | $13.67B | +4869.44% |
| Q1 2025 | 2025-03-31 | $6.00B | $5.71B | +1976.09% |
| Q4 2024 | 2024-12-31 | $1.10B | $963.9M | +693.21% |
| Q3 2024 | 2024-09-30 | $514.3M | $386.3M | +301.65% |
| Q2 2024 | 2024-06-30 | $280.8M | $160.8M | +134.01% |
| Q1 2024 | 2024-03-31 | $288.9M | $174.7M | +152.83% |
| Q4 2023 | 2023-12-31 | $139.0M | −$160.5M | −53.58% |
| Q3 2023 | 2023-09-30 | $128.0M | $34.1M | +36.34% |
| Q2 2023 | 2023-06-30 | $120.0M | −$895.0M | −88.18% |
| Q1 2023 | 2023-03-31 | $114.3M | −$149.3M | −56.64% |
| Q4 2022 | 2022-12-31 | $299.5M | $51.6M | +20.80% |
| Q3 2022 | 2022-09-30 | $93.9M | −$61.4M | −39.54% |
| Q2 2022 | 2022-06-30 | $1.01B | $498.4M | +96.49% |
| Q1 2022 | 2022-03-31 | $263.6M | −$19.9M | −7.04% |
| Q4 2021 | 2021-12-31 | $248.0M | $137.8M | +125.14% |
| Q3 2021 | 2021-09-30 | $155.3M | $29.4M | +23.34% |
| Q2 2021 | 2021-06-30 | $516.6M | $436.3M | +543.55% |
| Q1 2021 | 2021-03-31 | $283.5M | $196.6M | +226.05% |
| Q4 2020 | 2020-12-31 | $110.1M | $10.9M | +10.96% |
| Q3 2020 | 2020-09-30 | $125.9M | $34.7M | +37.96% |
| Q2 2020 | 2020-06-30 | $80.3M | −$16.9M | −17.44% |
| Q1 2020 | 2020-03-31 | $87.0M | −$12.6M | −12.68% |
| Q4 2019 | 2019-12-31 | $99.3M | −$8.9M | −8.25% |
| Q3 2019 | 2019-09-30 | $91.3M | −$251,000 | −0.27% |
| Q2 2019 | 2019-06-30 | $97.2M | −$142,000 | −0.15% |
| Q1 2019 | 2019-03-31 | $99.6M | $2.5M | +2.59% |
| Q4 2018 | 2018-12-31 | $108.2M | $13.7M | +14.50% |
| Q3 2018 | 2018-09-30 | $91.5M | $11.1M | +13.79% |
| Q2 2018 | 2018-06-30 | $97.4M | $16.6M | +20.54% |
| Q1 2018 | 2018-03-31 | $97.1M | $18.8M | +24.02% |
| Q4 2017 | 2017-12-31 | $94.5M | $14.9M | +18.68% |
| Q3 2017 | 2017-09-30 | $80.4M | $3.5M | +4.54% |
| Q2 2017 | 2017-06-30 | $80.8M | $2.8M | +3.60% |
| Q1 2017 | 2017-03-31 | $78.3M | $1.9M | +2.45% |
| Q4 2016 | 2016-12-31 | $79.6M | $5.4M | +7.28% |
| Q3 2016 | 2016-09-30 | $77.0M | $2.8M | +3.82% |
| Q2 2016 | 2016-06-30 | $78.0M | $5.7M | +7.87% |
| Q1 2016 | 2016-03-31 | $76.4M | $2.3M | +3.06% |
| Q4 2015 | 2015-12-31 | $74.2M | −$9.9M | −11.72% |
| Q3 2015 | 2015-09-30 | $74.1M | −$49.1M | −39.86% |
| Q2 2015 | 2015-06-30 | $72.3M | −$46.7M | −39.25% |
| Q1 2015 | 2015-03-31 | $74.1M | −$39.1M | −34.54% |
| Q4 2014 | 2014-12-31 | $84.1M | −$30.3M | −26.51% |
| Q3 2014 | 2014-09-30 | $123.2M | $26.2M | +27.00% |
| Q2 2014 | 2014-06-30 | $119.0M | $15.5M | +14.94% |
| Q1 2014 | 2014-03-31 | $113.2M | $10.3M | +10.00% |
| Q4 2013 | 2013-12-31 | $114.4M | $8.5M | +8.06% |
| Q3 2013 | 2013-09-30 | $97.0M | $3.1M | +3.31% |
| Q2 2013 | 2013-06-30 | $103.5M | $12.7M | +14.02% |
| Q1 2013 | 2013-03-31 | $102.9M | $2.0M | +1.94% |
| Q4 2012 | 2012-12-31 | $105.9M | $11.7M | +12.41% |
| Q3 2012 | 2012-09-30 | $93.9M | −$9.6M | −9.25% |
| Q2 2012 | 2012-06-30 | $90.8M | −$9.4M | −9.35% |
| Q1 2012 | 2012-03-31 | $101.0M | $13.2M | +15.02% |
| Q4 2011 | 2011-12-31 | $94.2M | — | — |
| Q3 2011 | 2011-09-30 | $103.5M | $26.0M | +33.56% |
| Q2 2011 | 2011-06-30 | $100.1M | $31.3M | +45.45% |
| Q1 2011 | 2011-03-31 | $87.8M | — | — |
| Q3 2010 | 2010-09-30 | $77.5M | — | — |
| Q2 2010 | 2010-06-30 | $68.8M | — | — |
Strategy operating expenses trends
Over the last five fiscal years, Strategy's operating expenses increased from $403.3M to $5.77B, a change of $5.37B. The latest reported quarter, Q2 2026, shows $8.41B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Strategy source filings ↗Community posts
Strategy doubles preferred-securities buyback authorisation to $2 billion
Strategy’s ($MSTR) board increased its digital credit securities repurchase authorisation from $1 billion to $2 billion, including purchases already made. The programme covers preferred securities, not MSTR common shares. The accompanying w ...