Basic and Diluted Loss per Common Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Computation of Basic and Diluted (Loss) Earnings per Share

	Three Months Ended
	March 31,
	2025			2024
Numerator - Basic and Diluted:
Net loss	$	(4,217,370	)	$	(53,118	)
Dividends on preferred stock		(10,648	)		0
Net loss attributable to common stockholders of Strategy	$	(4,228,018	)	$	(53,118	)
Denominator - Basic and Diluted:
Weighted average shares of class A common stock outstanding		236,833			152,302
Weighted average shares of class B common stock outstanding		19,640			19,640
Total weighted average shares of common stock outstanding		256,473			171,942
Loss per common share:
Basic loss per common share (1)	$	(16.49	)	$	(0.31	)
Diluted loss per common share (1)	$	(16.49	)	$	(0.31	)

(1)Basic and fully diluted loss per common share for class A and class B common stock are the same.

Schedule of Weighted Average of Potential Class A Common Stock Excluded from Computation of Basic and Diluted (Loss) Earnings per Share

For the three months ended March 31, 2025 and 2024, the following weighted average shares of potential class A common stock were excluded from the diluted loss per common share calculation because their impact would have been anti-dilutive (in thousands).

	Three Months Ended
	March 31,
	2025		2024
Stock options		4,770		10,479
Restricted stock units		1,181		1,813
Performance stock units		590		516
Employee stock purchase plan		4		8
Convertible preferred stock		450		0
2025 Convertible Notes		0		16,332
2027 Convertible Notes		2,977		7,330
2028 Convertible Notes		5,513		0
2029 Convertible Notes		4,462		0
2030A Convertible Notes		5,342		1,409
2030B Convertible Notes		2,000		0
2031 Convertible Notes		2,594		399
2032 Convertible Notes		3,915		0
Total		33,798		38,286