TLDR
- Technique sold 301,335 BTC in Q1, raising the total to 528,185 BTC.
- BTC Yield hit 13.7% YTD, and the 2025 scheme was once raised to 25%.
- Ultimate ticket accounting added $12.7B to retained earnings, but precipitated a $5.9B Q1 loss.
- Raised $9.8B+ by device of equity, notes, and most standard stock to fund BTC buys.
- Tool income fell 3.6%, but subscriptions rose 61.6%.
Technique™ (Nasdaq: MSTR/STRK/STRF) reported sturdy Q1 2025 financial results. Proper by device of the quarter, the firm added 301,335 BTC by device of a file $21 billion at-the-market (ATM) frequent stock offering. This raised its total Bitcoin holdings to 528,185 BTC, reinforcing its position as a truly considerable corporate Bitcoin holder.
Technique publicizes BTC Yield of 13.7% and BTC $ Acquire of $5.8B year-to-date, doubles capital opinion to $42B equity and $42B mounted earnings to aquire bitcoin, and increases BTC Yield target from 15% to 25% and BTC $ Acquire target from $10B to $15B. $MSTR $STRK $STRF
— Technique (@Technique) May per chance perhaps 1, 2025
The firm recorded a BTC Yield of 11.0% in Q1 and 13.7% year-to-date as of April 28, 2025. This puts it now not off course to exceed its preliminary annual target of 15%, prompting Technique to magnify its 2025 BTC Yield scheme to 25%. The firm also carried out a BTC $ Acquire of $5.8 billion year-to-date, assembly 58% of its annual $10 billion target, which has now been revised upward to $15 billion.
Ultimate Rate Accounting Boosts Retained Earnings
On January 1, 2025, Technique adopted ASU 2023-08, transitioning to pleasing ticket accounting for its digital sources. This trade ended in a $12.7 billion uplift in retained earnings. Nevertheless, due to a quarter-live Bitcoin ticket of $82,445, the firm recorded a $5.9 billion unrealized pleasing ticket loss on digital sources in Q1.
At the time of writing, Bitcoin is presently trading at $$96,686.76 , Technique expects an even ticket succeed in of roughly $8.0 billion in Q2 2025.
Capital Raises Drive Bitcoin Accumulation
Technique greatly broadened its capital inappropriate in Q1 by combining equity offerings and convertible notes. These integrated:
- $4.4B in Q1 and $2.2B post-Q1 from the class A frequent stock ATM program.
- $1.99B in uncover proceeds from the 0% Convertible Senior Notes issuance due 2030.
- $563.2M from the IPO of 8.00% Series A Perpetual Strike Most traditional Inventory.
- $30.4M in Q1 and $45.3M post-Q1 by device of the STRK ATM program.
- $710.9M from the IPO of 10.00% Series A Perpetual Strife Most traditional Inventory.
In January, shareholders permitted a necessary magnify in authorized shares, rising to 10.3 billion for sophistication A frequent stock and 1.005 billion for most standard stock.
Tool Revenue Declines While Subscriptions Rise
Total income for the tool segment was once $111.1 million, down 3.6% from Q1 2024. Subscription products and providers income, alternatively, rose 61.6% year-over-year to $37.1 million. Product license and subscription products and providers income grew 23.6%, whereas product improve and other products and providers declined by 16.2% and 15.0%, respectively.
Nefarious income stood at $77.1 million with a margin of 69.4%, down from $85.2 million and a 74.0% margin in Q1 2024.
Internet Loss Shows Ultimate Rate Accounting Adjustment
Because of the shift to pleasing ticket accounting, working costs surged to $6.0 billion, primarily pushed by the $5.9 billion unrealized digital asset loss. The firm posted a uncover loss of $4.217 billion, or $16.49 per diluted share, when put next with a $Fifty three.1 million loss in Q1 2024.
Money and cash equivalents increased to $60.3 million, up from $38.1 million at the head of 2024.
