Strategy (MSTR) Research & Development (2010 - 2026)
Strategy (MSTR) recorded Research & Development of $24.06 million in Q3 2026, up 6.5% from $22.6 million a year earlier and up 4.2% from the prior quarter.
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Analysis
Strategy (MSTR) Research & Development (2010 - 2026) Analysis & Trends
On a TTM basis, Strategy's Research & Development came in at $94.59 million as of Sep 30, 2026, down 2.3% year-over-year; for FY2025, it came in at $93.86 million, down 20.8% from FY2024.
- Annual Research & Development has declined for three straight years, with a five-year compound annual growth rate of -1.9% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $118.49 million in FY2024 (-1.7%), $120.53 million in FY2023 (-5.4%), $127.43 million in FY2022 (+8.8%) and $117.12 million in FY2021 (+13.1%).
- Quarterly Research & Development has ranged from $22.6 million in Q3 2025 to $33.52 million in Q1 2022 over the past five years.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 11.5%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 23.7% in Q4 2021, against a decline of 32.1% in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at $23.1 million (Q2 2026), $24.67 million (Q1 2026) and $22.76 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 413.65 Bn | 378.59 Bn | 1.93 Bn | 219.72 Mn |
| 2 | Oracle | 374.28 Bn | 246.84 Bn | - | 2.40 Bn |
| 3 | Sap Se | 294.90 Bn | 222.88 Bn | 8.64 Bn | 2.15 Bn |
| 4 | Salesforce | 186.99 Bn | 142.87 Bn | 8.70 Bn | 1.69 Bn |
| 5 | Automatic Data Processing | 120.08 Bn | 106.87 Bn | 2.53 Bn | 251.30 Mn |
| 6 | ServiceNow | 113.02 Bn | 92.28 Bn | 2.90 Bn | 956.00 Mn |
| 7 | Intuit | 95.72 Bn | 75.07 Bn | 3.44 Bn | 857.00 Mn |
| 8 | Relx | 74.73 Bn | 73.84 Bn | - | - |
| 9 | Strategy | 57.35 Bn | 44.49 Bn | 89.63 Mn | 24.06 Mn |
| 10 | Thomson Reuters | 52.16 Bn | 48.13 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 24.06 Mn |
| Jun 30, 2026 | 23.10 Mn |
| Mar 31, 2026 | 24.67 Mn |
| Dec 31, 2025 | 22.76 Mn |
| Sep 30, 2025 | 22.60 Mn |
| Jun 30, 2025 | 24.07 Mn |
| Mar 31, 2025 | 24.42 Mn |
| Dec 31, 2024 | 25.69 Mn |
| Sep 30, 2024 | 33.30 Mn |
| Jun 30, 2024 | 30.31 Mn |
| Mar 31, 2024 | 29.18 Mn |
| Dec 31, 2023 | 30.16 Mn |
| Sep 30, 2023 | 29.66 Mn |
| Jun 30, 2023 | 29.35 Mn |
| Mar 31, 2023 | 31.36 Mn |
| Dec 31, 2022 | 31.62 Mn |
| Sep 30, 2022 | 30.50 Mn |
| Jun 30, 2022 | 31.79 Mn |
| Mar 31, 2022 | 33.52 Mn |
| Dec 31, 2021 | 30.88 Mn |
API Access
Strategy Research & Development 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=research-and-development&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();