Strategy Inc (MSTR) Q4 2025 Earnings Call Transcript

Strategy Inc (MSTR) Q4 2025 Earnings Call Transcript

Seeking Alpha • 16 hours ago

Strategy: Bitcoin As A Treasury Model Faces Stress Test

MicroStrategy (MSTR) has seen its Bitcoin-as-a-Treasury strategy falter, eroding the premium that has fueled rapid BTC accumulation via equity issuance. MSTR's market-adjusted net asset value (mNAV) has declined to 1.07, making further equity issuance more dilutive and less accretive for BTC purchases. The 10% Series A Perpetual Stride Preferred (STRD) offers substantial income with clearly defined risks, though coupon suspension remains a remote concern.

Seeking Alpha • Jan 31, 2026

Strategy's Preferreds: Only One Worth Buying

Strategy's preferred stocks are evaluated, with a focus on STRC, STRK, STRF, and STRD for investment merit. MSTR's business model relies on capital raises to accumulate Bitcoin, lacking operational income to support fixed obligations during BTC downturns. STRD is rated Buy among the preferreds, despite lacking cumulative dividends or conversion features, due to its risk/reward profile and current market pricing.

Seeking Alpha • Jan 19, 2026

Strategy: A New Crypto Winter Raises Risk Around Dividends Of The Junk Preferreds

Strategy has seen its market-adjusted net asset value dip to 1.16x as BTC prices dropped 24% from their 52-week highs. MSTR's most recent BTC purchase brought its total to 650,000, currently valued at around $61 billion at an average price of $74,436 per BTC. The company faces an annual coupon bill on its universe of preferreds of around $807 million, ramping up the risk of a BTC winter.

Seeking Alpha • Dec 5, 2025

Strategy's Bitcoin Treasury: Different Securities For Different Investors (New Ratings)

If you're interested in bitcoin, Strategy (MSTR) is worth a very close look. It's main “business” is bitcoin treasury – i.e., it buys and holds bitcoin. But that's just the start. It's “intelligent leverage” program, opportunistic capital raises and coin purchases, helps the company outperform bitcoin prices. MSTR now trades at a premium to the value of its bitcoin, but a narrower premium than in the recent past. That's OK. Intelligent leverage deserves some sort of premium.

Seeking Alpha • Nov 14, 2025

Undercovered Dozen: Power Solutions, USA Rare Earth, Archer Aviation And More

The Undercovered Dozen highlights 12 lesser-followed stocks and ETFs, offering fresh investment ideas and sparking community discussion on Seeking Alpha. This week's edition covers articles published between Nov. 7 and Nov. 13, offering fresh investment ideas. Ratings range from strong buy (ACHR, VICI, PSEC) to hold (JEPQ, MSTY) and sell (EOSE, VGT, XLK), with detailed justifications based on valuation, yield, and growth prospects.

Seeking Alpha • Nov 14, 2025

Strategy Inc (MSTR) Q3 2025 Earnings Call Transcript

Strategy Inc ( MSTR ) Q3 2025 Earnings Call October 30, 2025 5:00 PM EDT Company Participants Shirish Jajodia Andrew Kang - Executive VP & CFO Phong Le - President, CEO & Director Michael Saylor - Executive Chairman Conference Call Participants Andrew Harte - BTIG, LLC, Research Division Mark Palmer - The Benchmark Company, LLC, Research Division Brian Dobson - Clear Street LLC Lance Vitanza - TD Cowen, Research Division Ben Werkman - Strive Asset Management, LLC Presentation Shirish Jajodia Hello, everyone, and good evening. I'm Shirish Jajodia, Corporate Treasurer and Head of Investor Relations at Strategy.

Seeking Alpha • Nov 1, 2025

Strategy Inc (MSTR) Presents At H.C. Wainwright 27th Annual Global Investment Conference Transcript

Strategy Inc (NASDAQ:MSTR ) H.C. Wainwright 27th Annual Global Investment Conference September 8, 2025 4:00 PM EDT Company Participants Michael Saylor - Executive Chairman Conference Call Participants Michael Colonnese - H.C.

Seeking Alpha • Sep 9, 2025

STRK: High Yield Alternative To REITs, MLPs, And Dividend Stocks

STRK offers steady income and share price appreciation, and is therefore a reasonable supplement to dividend stocks, REITs, MLPs, and ETFs like SCHD. STRK is heavily overcollateralized by Strategy's Bitcoin holdings, making its risk quantifiable and hedgeable, unlike earnings-based dividend stocks. The market applies an excessive discount rate to STRK; actual risk is much lower, offering significant upside and an effective yield above 8%.

Seeking Alpha • Aug 22, 2025

MicroStrategy Incorporated (MSTR) Q2 2025 Earnings Call Transcript

MicroStrategy Incorporated (NASDAQ:MSTR ) Q2 2025 Earnings Conference Call July 31, 2025 5:00 PM ET Company Participants Andrew Kang - Executive VP & CFO Michael J. Saylor - Executive Chairman Phong Q.

Seeking Alpha • Aug 2, 2025