Strategy posted its fourth-quarter results on Feb. 5, reporting a loss of $670.8 million, translating to a loss of $3.03 per adjusted share. This is much worse than its net income of $0.50 per share in the prior-year period. Its revenue of $120.7 million was down 3% year-over-year, missing Wall Street estimates.
Subscription Services revenue came to $31.9 million, up 48%. Product Licenses and Subscription Services revenue increased 18.3% to $47.2 million. Product Support revenue came to $58.4 million, a 10.8% decrease, and other services came to $15.1 million, a 20.8% decline YOY.
The Bitcoin company reported an operating expense of $1.10 billion, a staggering 693% rise from last year. The increase was primarily related to impairment losses of $1 billion suffered on the company’s digital assets. During the quarter, Strategy used up $20 billion of its $42 billion capital plan while purchasing 218,887 bitcoins for $20.5 billion.
At the end of December, the company had a cash reserve of $38.1 billion with a total of 447,470 BTC valued at $23.91 billion.
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