MSTR: the cash flow

MyFinsight

For the year ending 2025-12-31, MSTR had $2,263,447K increase in cash & cash equivalents over the period. -$75,453K in free cash flow.

Cash Flow Overview

Change in Cash
$2,263,447K
Free Cash flow
-$75,453K
Unit: Thousand (K) dollars
Positive Cash Flow Breakdown
Proceeds from sale of common sto...
Proceeds from sale of preferred ...
Unrealized loss on digital asset...
Others
Negative Cash Flow Breakdown
Purchases of digital assets
Corporate Non Segment
Deferred taxes
Others

Cash Flow	2025-12-31	2024-12-31	2023-12-31	2022-12-31
Total revenues	477,233	-	-	-
Operating Segments-Software Business	100,665	-	-	-
Corporate Non Segment	0	-	-	-
Sales and marketing-Controllable Expenses	100,665	-	-	-
Operating Segments-Software Business	27,264	-	-	-
Corporate Non Segment	0	-	-	-
Maintenance-Controllable Expenses	27,264	-	-	-
Operating Segments-Software Business	47,513	-	-	-
Corporate Non Segment	0	-	-	-
Consulting-Controllable Expenses	47,513	-	-	-
Operating Segments-Software Business	72,973	-	-	-
Corporate Non Segment	0	-	-	-
Cloud-Controllable Expenses	72,973	-	-	-
Operating Segments-Software Business	88,361	-	-	-
Corporate Non Segment	0	-	-	-
Technology-Controllable Expenses	88,361	-	-	-
Corporate resources-Controllable Expenses	99,350	-	-	-
Operating Segments-Software Business	0	-	-	-
Corporate Non Segment	5,403,476	-	-	-
Unrealized loss on digital assets-Non Controllable Expenses	5,403,476	-	-	-
Operating Segments-Software Business	0	-	-	-
Corporate Non Segment	17,375	-	-	-
Digital asset custody fees-Non Controllable Expenses	17,375	-	-	-
Share-based compensation expense-Non Controllable Expenses	53,369	-	-	-
Payroll taxes on equity award exercises and vestings-Non Controllable Expenses	6,821	-	-	-
Other segment items	21,052	-	-	-
Interest expense, net	-64,968	-	-	-
Income tax benefit	-1,677,802	-	-	-
Net (loss) income	-	-1,166,661	429,121	-1,469,797
Net income (loss)	-3,848,152	-	-	-
Depreciation and amortization	25,517	17,808	14,527	10,874
Reduction in carrying amount of right-of-use assets	9,068	8,475	8,643	8,072
Credit losses and sales allowances	-	649	1,387	939
Net realized gain on short-term investments	-	-	-	0
Deferred taxes	-1,684,220	-774,586	-568,949	131,493
Release of liabilities for unrecognized tax benefits	-	1,265	506	360
Share-based compensation expense	53,369	77,124	69,571	63,619
Unrealized loss on digital assets	5,403,476	-	-	-
Digital asset impairment losses (gains on sale), net	-	1,789,862	115,851	1,286,286
Digital asset impairment losses	0	-	-	-
Amortization of issuance costs on long-term debt	25,410	15,336	8,808	-
Gain on partial lease termination	-	-	-	0
Other	3,484	-	-	-
Amortization of issuance costs and debt discount on long-term debt	-	-	-	8,694
Loss (gain) on debt extinguishment	0	-22,933	44,686	-
Accounts receivable	-20,406	-5,688	-10,307	5,292
Prepaid expenses and other current assets	28,892	-3,804	11,358	6,342
Deposits and other assets	-10,980	10,668	632	7,455
Accounts payable and accrued expenses	6,561	1,141	-634	-3,521
Accrued compensation and employee benefits	-46,593	-34,563	-12,000	-12,344
Accrued interest	70	4,193	-1,336	1,336
Deferred revenue and advance payments	-7,966	1,049	2,362	14,839
Operating lease liabilities	-10,662	-10,510	-10,218	-9,634
Other long-term liabilities	903	-2,841	2,454	-8,196
Net cash provided by (used in) operating activities	-67,241	-53,032	12,712	3,211
Purchases of digital assets	-	22,072,759	1,902,299	287,921
Proceeds from sale of digital assets	-	0	0	11,817
Purchases of digital assets	22,467,083	-	-	-
Proceeds from redemption of short-term investments	-	-	-	0
Advance deposits on purchases of property and equipment	37,000	10,500	-	-
Purchases of property and equipment	8,212	2,978	2,938	2,486
Purchases of short-term investments	-	-	-	0
Net cash used in investing activities	-22,512,295	-22,086,237	-1,905,237	-278,590
Proceeds from convertible senior notes classified as debt	-	-	-	0
Proceeds from convertible senior notes classified as equity	-	-	-	0
Proceeds from convertible senior notes	2,000,000	6,213,750	0	-
Issuance costs paid-Convertible Debt	-	81,033	0	0
Issuance costs paid for convertible senior notes	15,178	-	-	-
Issuance costs paid-Secured Debt	-	-	0	0
Payments to settle conversions and redemption of convertible senior notes	143	398	-	-
Proceeds from secured term loan, net of lender fees	-	0	0	204,693
Issuance costs paid for secured term loan, excluding lender fees	-	0	0	107
Repayments of secured debt and third-party extinguishment costs	0	515,414	160,033	-
Proceeds from other long-term secured debt	-	0	0	11,100
Issuance costs paid for other long-term secured debt	-	0	0	270
Proceeds from other long-term secured debt, net of lender fees	31,000	-	0	0
Principal payments of other long-term secured debt	569	539	513	246
Proceeds from sale of preferred stock under public offerings	7,036,110	-	-	-
Issuance costs paid related to sale of stock under public offerings-Preferred Stock	120,802	-	-	-
Dividends paid on preferred stock	381,367	-	-	-
Proceeds from sale of common stock under public offerings	16,271,959	16,363,023	2,029,214	46,592
Issuance costs paid related to sale of common stock under public offerings	-	33,166	9,141	358
Issuance costs paid related to sale of stock under public offerings-Common Stock	25,072	-	-	-
Proceeds from exercise of stock options	42,154	184,287	30,518	1,393
Proceeds from sales under employee stock purchase plan-Employee Stock Purchase Program	-	4,304	3,955	4,473
Proceeds from sales under employee stock purchase plan	5,435	-	-	-
Payment of withholding tax on vesting of restricted stock units	0	2,173	4,114	2,082
Purchases of treasury stock	-	-	-	0
Net cash provided by financing activities	24,843,527	22,132,641	1,889,886	265,188
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash	-544	-2,148	444	-3,375
Net increase (decrease) in cash, cash equivalents, and restricted cash	2,263,447	-8,776	-2,195	-13,566
Cash and cash equivalents at beginning of period	-	-	-	64,434
Cash and cash equivalents at end of period	-	-	-	50,868

Unit: Thousand (K) dollars (except for numbers of shares and EPS).

MyFinsight

Cash Flow Overview

Time Plot

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Cash Flow

Cash Flow Overview

Time Plot

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Cash Flow