Subsequent Events (Tables)

6 Months Ended

Jun. 30, 2025

Subsequent Event [Line Items]

Computation of Basic and Diluted (Loss) Earnings per Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share (in thousands, except per share data) for the periods indicated:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Numerator:
Net income (loss)	$	10,020,846		$	(102,559	)	$	5,803,476		$	(155,677	)
Dividends on preferred stock		(49,110	)		0			(58,347	)		0
Net income (loss) attributable to common stockholders of Strategy - Basic	$	9,971,736		$	(102,559	)	$	5,745,129		$	(155,677	)
Effect of dilutive shares on net income {loss}:
Interest expense on 2027 Convertible Notes, net of tax		0			0			286			0
Interest expense on 2028 Convertible Notes, net of tax		1,887			0			3,755			0
Interest expense on 2029 Convertible Notes, net of tax		1,308			0			2,603			0
Interest expense on 2030A Convertible Notes, net of tax		1,606			0			3,194			0
Interest expense on 2030B Convertible Notes, net of tax		898			0			1,264			0
Interest expense on 2031 Convertible Notes, net of tax		1,390			0			2,767			0
Interest expense on 2032 Convertible Notes, net of tax		3,718			0			7,400			0
Dividends on STRK Stock		16,756			0			23,550			0
Net income (loss) - Diluted	$	9,999,300		$	(102,559	)	$	5,789,949		$	(155,677	)
Denominator:
Weighted average common shares of class A common stock		255,604			158,967			246,270			155,686
Weighted average common shares of class B common stock		19,640			19,640			19,640			19,640
Total weighted average shares of common stock outstanding - Basic		275,244			178,607			265,910			175,326
Effect of dilutive shares on weighted average common shares outstanding:
Stock options		3,615			0			3,847			0
Restricted stock units		5			0			495			0
Performance stock units		494			0			511			0
Employee stock purchase plan		3			0			2			0
Convertible preferred stock		963			0			702			0
2027 Convertible Notes		0			0			1,439			0
2028 Convertible Notes		5,513			0			5,513			0
2029 Convertible Notes		4,462			0			4,462			0
2030A Convertible Notes		5,342			0			5,342			0
2030B Convertible Notes		4,614			0			3,307			0
2031 Convertible Notes		2,594			0			2,594			0
2032 Convertible Notes		3,915			0			3,915			0
Total weighted average shares of common stock outstanding - Diluted		306,764			178,607			298,039			175,326
Income (loss) per share:
Basic income (loss) per share (1)	$	36.23		$	(0.57	)	$	21.61		$	(0.89	)
Diluted income (loss) per share (1)	$	32.60		$	(0.57	)	$	19.43		$	(0.89	)