Financial highlights from $MSTR Q4 Report (Patreon)

Summary from MicroStrategy's Q4 2023 earnings presentation:

1. Bitcoin Acquisitions: MicroStrategy acquired 31,755 bitcoins since the end of Q3 for $1.25 billion, averaging $39,411 per bitcoin.
2. Bitcoin Holdings: As of February 5, 2024, MicroStrategy held 190,000 bitcoins at a total cost of $5.93 billion, or $31,224 per bitcoin.
3. Total Revenues: Total revenues for Q4 2023 were $124.5 million, marking a decrease of 6% year-over-year.
4. Subscription Services Revenues: Subscription Services Revenues grew to $21.5 million, up 23% year-over-year.
5. Gross Profit: The gross profit for Q4 2023 was $96.3 million, representing a 77.3% gross margin, down from 79.8% in the same period the previous year.
6. Operating Expenses: Operating expenses decreased significantly to $139.0 million in Q4 2023, a 53.6% decrease from Q4 2022.
7. Net Income (Loss): MicroStrategy reported a net income of $89.1 million, or $4.96 per share on a diluted basis for Q4 2023, compared to a net loss of $249.7 million, or $21.93 per share on a diluted basis, for the same period in 2022.
8. Cash and Cash Equivalents: The company's cash and cash equivalents stood at $46.8 million as of December 31, 2023, an increase from $43.8 million as of December 31, 2022.
9. Digital Assets Carrying Value: The carrying value of MicroStrategy's digital assets was $3.626 billion as of December 31, 2023, reflecting cumulative impairment losses of $2.269 billion and an average carrying amount per bitcoin of approximately $19,172.
10. Equity Offering Programs: During Q4 2023, MicroStrategy issued and sold 2,266,503 shares of its class A common stock under at-the-market equity offering programs for net proceeds of approximately $1.2 billion, with about $137.8 million of class A common stock remaining available for future issuance as of December 31, 2023.