Strategy (MSTR) Operating Expenses (2010 - 2026)
Strategy's (MSTR) quarterly Operating Expenses came in at $8.4 billion in Q2 2026, up 160.29% year-over-year from $3.2 billion in Q2 2025, and down 42.2% quarter-over-quarter from $14.6 billion in Q1 2026.
Powered by 
Analysis
Strategy (MSTR) Operating Expenses (2010 - 2026) Analysis & Trends
Strategy has disclosed Operating Expenses across 17 years of filings, most recently posting $8.4 billion for Q2 2026.
- In Q2 2026, Operating Expenses rose 160.29% year-over-year to $8.4 billion; the TTM figure through Jun 2026 stood at $36.7 billion (up 678.99% YoY), while the FY2025 annual figure was $5.8 billion, up 163.94% from the prior year.
- Operating Expenses came in at $8.4 billion for Q2 2026 at Strategy, down from $14.6 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $17.5 billion in Q4 2025 to a low of -$14.0 billion in Q2 2025.
- Average Operating Expenses over 5 years is $1.8 billion, with a median of $284.9 million recorded in 2024.
- The largest YoY upside for Operating Expenses was 1976.09% in 2025 against a maximum downside of 5069.44% in 2025.
- Over 5 years, Operating Expenses stood at $299.5 million in 2022, then tumbled by 53.58% to $139.0 million in 2023, then soared by 693.21% to $1.1 billion in 2024, then surged by 1489.11% to $17.5 billion in 2025, then sank by 52.0% to $8.4 billion in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $8.4 billion in Q2 2026, $14.6 billion in Q1 2026, and $17.5 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 460.85 Bn | 451.55 Bn | 1.64 Bn | 726.59 Mn |
| 2 | Oracle | 437.09 Bn | 400.44 Bn | - | 12.62 Bn |
| 3 | Sap Se | 258.74 Bn | 237.66 Bn | 8.40 Bn | -8.41 Bn |
| 4 | Salesforce | 195.52 Bn | 184.12 Bn | 8.70 Bn | 6.37 Bn |
| 5 | ServiceNow | 145.61 Bn | 140.94 Bn | 2.82 Bn | 2.66 Bn |
| 6 | Automatic Data Processing | 104.89 Bn | 100.66 Bn | 2.51 Bn | 4.34 Bn |
| 7 | Intuit | 76.97 Bn | 69.77 Bn | 3.46 Bn | 3.88 Bn |
| 8 | Relx | 60.41 Bn | 60.04 Bn | - | - |
| 9 | Strategy | 57.09 Bn | 54.64 Bn | 81.55 Mn | 8.41 Bn |
| 10 | Workday | 46.40 Bn | 42.99 Bn | 2.21 Bn | 2.34 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();