Strategy (MSTR) Operating Expenses (2010 - 2026)
Strategy (MSTR) posted Operating Expenses of $8.41 billion for Q2 2026, compared with -$13.95 billion a year earlier and down 42.2% from the prior quarter.
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Analysis
Strategy (MSTR) Operating Expenses (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Strategy was $36.69 billion; for FY2025, it was $5.77 billion, up 163.9% from FY2024.
- Annual Operating Expenses shows a five-year compound annual growth rate of 70.3% (FY2020 to FY2025).
- In prior years, Strategy's Operating Expenses was $2.19 billion in FY2024 (+336.2%), $501.36 million in FY2023 (-70.0%), $1.67 billion in FY2022 (+38.9%) and $1.2 billion in FY2021 (+198.4%).
- Quarterly Operating Expenses has run from a low of -$13.95 billion in Q2 2025 to a high of $17.53 billion in Q4 2025 over five years.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2024, with growth of 693.2%; the weakest was Q2 2023, with a decline of 88.2%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $14.55 billion (Q1 2026), $17.53 billion (Q4 2025) and -$3.8 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 480.73 Bn | 449.68 Bn | 1.64 Bn | 726.59 Mn |
| 2 | Oracle | 399.91 Bn | 272.04 Bn | - | 12.62 Bn |
| 3 | Sap Se | 262.30 Bn | 190.08 Bn | 8.40 Bn | -8.41 Bn |
| 4 | Salesforce | 202.26 Bn | 158.13 Bn | 8.70 Bn | 6.37 Bn |
| 5 | ServiceNow | 153.84 Bn | 132.30 Bn | 2.82 Bn | 2.66 Bn |
| 6 | Automatic Data Processing | 114.84 Bn | 96.97 Bn | 2.51 Bn | 4.34 Bn |
| 7 | Intuit | 91.04 Bn | 70.38 Bn | 3.44 Bn | 3.88 Bn |
| 8 | Relx | 70.51 Bn | 69.60 Bn | - | - |
| 9 | Strategy | 53.24 Bn | 46.23 Bn | 81.55 Mn | 8.41 Bn |
| 10 | Thomson Reuters | 48.40 Bn | 45.18 Bn | - | -1.21 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.41 Bn |
| Mar 31, 2026 | 14.55 Bn |
| Dec 31, 2025 | 17.53 Bn |
| Sep 30, 2025 | -3.80 Bn |
| Jun 30, 2025 | -13.95 Bn |
| Mar 31, 2025 | 6.00 Bn |
| Dec 31, 2024 | 1.10 Bn |
| Sep 30, 2024 | 514.30 Mn |
| Jun 30, 2024 | 280.78 Mn |
| Mar 31, 2024 | 288.93 Mn |
| Dec 31, 2023 | 139.05 Mn |
| Sep 30, 2023 | 128.05 Mn |
| Jun 30, 2023 | 119.99 Mn |
| Mar 31, 2023 | 114.28 Mn |
| Dec 31, 2022 | 299.55 Mn |
| Sep 30, 2022 | 93.92 Mn |
| Jun 30, 2022 | 1.01 Bn |
| Mar 31, 2022 | 263.56 Mn |
| Dec 31, 2021 | 247.98 Mn |
| Sep 30, 2021 | 155.34 Mn |
API Access
Strategy Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MSTR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();