Technology
Price
$100.77
+7.90%Market Cap
$35.31B
Day High
$104.11
Day Low
$97.57
MicroStrategy (MSTR) reported a massive Q1 FY2026 net loss of $12.54B driven by a $14.47B operating loss, primarily reflecting unrealized losses on its Bitcoin holdings, while core software revenue grew a modest 11.9% YoY to $124.3M.
Key risk: Bitcoin Price Volatility and Fair Value Accounting Risk
MSTR holds the vast majority of its assets in Bitcoin, and under ASC 350 fair value accounting, unrealized price declines flow directly through the income statement. The $12.54B net loss in Q1 FY2026 is a direct consequence of Bitcoin price movements, meaning future losses could be equally severe if BTC prices decline.