Strategy Inc: EPS $44.75 vs $20.19 expected; revenue $125M vs $128M
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 44.75 | 20.19 | — | 8.42 |
| Revenue (USD m) | 125.43 | 127.76 | −1.8% | 128.69 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD m) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 29, 2026 | Q3 FY2026 | 44.75 | 20.1900 | — | 125.43 | 127.76 | −1.8% |
| Jul 30, 2026 | Q2 FY2026 | −24.45 | −2.1900 | — | 122.37 | 122.99 | −0.5% |
| May 5, 2026 | Q1 FY2026 | −38.25 | −0.8620 | — | 124.30 | 120.75 | +2.9% |
| Feb 5, 2026 | Q4 FY2025 | −42.93 | −0.0800 | — | 122.99 | 119.12 | +3.2% |
| Oct 30, 2025 | Q3 FY2025 | 8.42 | −0.1020 | — | 128.69 | 116.65 | +10.3% |
| Jul 31, 2025 | Q2 FY2025 | 32.60 | −0.0983 | — | 114.49 | 113.54 | +0.8% |
| May 1, 2025 | Q1 FY2025 | −16.49 | −2.4400 | — | 111.10 | 116.19 | −4.4% |
| Feb 5, 2025 | Q4 FY2024 | −3.03 | −0.1300 | — | 120.70 | 122.45 | −1.4% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Strategy Inc results: EPS $44.75 vs $20.19 expected; revenue $125M vs $128M. The results cover the company's Q3 FY2026. The gap between EPS and the analysts' estimate is unusually large, usually a one-off item or a different basis, so it is not called a beat or a miss; revenue below the estimate by 1.8%.
Revenue was down 2.5% from $129 million a year earlier (Q3 FY2025). EPS was up 431.5% from $8.42 a year earlier.
What the results mean
Strategy Inc combines a bitcoin treasury business with enterprise analytics software. Understanding its results therefore requires distinguishing the economics of holding bitcoin from software performance, as these activities have different drivers.
Shrinking revenue signals pressure on the revenue-generating business, but the available information does not identify its source. Software drivers center on enabling users to analyze data with artificial intelligence and providing consistent definitions and governance across different data sources and tools.
In its treasury business, the company offers securities including equity and fixed income instruments to provide economic exposure to bitcoin. Understanding its business model therefore involves examining the features and obligations of these instruments alongside the value its software delivers to enterprises.
What to watch on the earnings call: Listen for management's explanation of the revenue contraction and enterprise demand for analytics, artificial intelligence, and data governance tools. Also relevant are the relationship between the software and bitcoin treasury businesses and how the company manages obligations associated with the securities it issues.
For the full analysis of Strategy Inc stock — valuation, scores and financial statements — see the stock page linked with this story.