Strategy (MSTR) Gross Margin (2010 - 2026)

Strategy (MSTR) posted Gross Margin of 67.06% for Q1 2026, up 1.44% sequentially from 66.11% in Q4 2025, and down 235.0% YoY from 49.67% in Q1 2025.

Strategy (MSTR) Gross Margin (2010 - 2026) Analysis & Trends

Strategy has reported Gross Margin for 17 years, with the latest figure at 67.06% in Q1 2026.

Quarterly Gross Margin fell 235.0% year-over-year to 67.06% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 68.11% (down 284.0% YoY) and the FY2025 annual result came in at 68.69%, down 337.0% from the prior year.
Gross Margin advanced to 67.06% in Q1 2026 per MSTR's latest filing, from 66.11% in the prior quarter.
Over five years, Gross Margin peaked at 79.84% in Q4 2022 and troughed at 66.11% in Q4 2025.
A 5-year average of 74.05% and a median of 73.96% in 2024 frame the typical range for Gross Margin.
The sharpest annual moves came in 2024 and 2025: Gross Margin slumped 900 bps in 2024, then climbed 5 bps in 2025.
Over 5 years, Gross Margin stood at 79.84% in 2022, then fell by 3 bps to 77.33% in 2023, then dropped by 7 bps to 71.69% in 2024, then retreated by 8 bps to 66.11% in 2025, then increased by 1 bps to 67.06% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 67.06%, 66.11%, and 70.46% for Q1 2026, Q4 2025, and Q3 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Sap Se	255.48 Bn	234.41 Bn	16.51 Bn	73.08%
2	Shopify	198.95 Bn	194.00 Bn	1.71 Bn	47.67%
3	Salesforce	160.70 Bn	148.86 Bn	8.56 Bn	76.92%
4	Uber Technologies	154.94 Bn	149.73 Bn	6.38 Bn	44.93%
5	ServiceNow	128.25 Bn	123.58 Bn	2.82 Bn	70.68%
6	Snowflake	114.00 Bn	111.05 Bn	926.45 Mn	66.61%
7	Automatic Data Processing	108.58 Bn	104.35 Bn	2.51 Bn	45.88%
8	Adobe	105.34 Bn	99.72 Bn	5.90 Bn	89.20%
9	Intuit	94.55 Bn	87.77 Bn	7.24 Bn	84.61%
10	Strategy	32.75 Bn	30.30 Bn	81.55 Mn	66.64%

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