On February 6, 2024, MicroStrategy Incorporated reported its financial results for the fourth quarter ended December 31, 2023. The company, known for holding a significant amount of bitcoin, disclosed that it had acquired an additional 31,755 bitcoins since the end of the third quarter, bringing its total holdings to 190,000 bitcoins. The cost of these additional bitcoins was approximately $1.25 billion, averaging $39,411 per bitcoin. MicroStrategy's total bitcoin holdings were acquired at an average price of $31,224 per bitcoin, amounting to a total cost of $5.93 billion as of February 5, 2024. The company's total revenues for the quarter were $124.5 million, marking a 6% decrease year-over-year. However, subscription services revenues increased by 23% year-over-year to $21.5 million. The company experienced a gross profit of $96.3 million with a 77.3% gross margin...Show More

On February 6, 2024, MicroStrategy Incorporated reported its financial results for the fourth quarter ended December 31, 2023. The company, known for holding a significant amount of bitcoin, disclosed that it had acquired an additional 31,755 bitcoins since the end of the third quarter, bringing its total holdings to 190,000 bitcoins. The cost of these additional bitcoins was approximately $1.25 billion, averaging $39,411 per bitcoin. MicroStrategy's total bitcoin holdings were acquired at an average price of $31,224 per bitcoin, amounting to a total cost of $5.93 billion as of February 5, 2024. The company's total revenues for the quarter were $124.5 million, marking a 6% decrease year-over-year. However, subscription services revenues increased by 23% year-over-year to $21.5 million. The company experienced a gross profit of $96.3 million with a 77.3% gross margin, compared to $105.8 million and a 79.8% gross margin in the same quarter of the previous year. Operating expenses decreased by 53.6% to $139.0 million, which included impairment losses on digital assets of $39.2 million. MicroStrategy reported a loss from operations of $42.8 million, but a net income of $89.1 million, or $4.96 per share on a diluted basis, largely due to a tax benefit of $149.8 million related to the valuation allowance on deferred tax assets. The company's cash and cash equivalents stood at $46.8 million as of December 31, 2023. During the quarter, MicroStrategy sold 2,266,503 shares of class A common stock, raising approximately $1.2 billion in net proceeds.