{"id":78130,"date":"2023-05-02T10:40:00","date_gmt":"2023-05-02T07:40:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78130"},"modified":"2025-09-11T03:13:06","modified_gmt":"2025-09-11T00:13:06","slug":"microstrategy-posts-461-2-million-q1-profit","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/microstrategy-posts-461-2-million-q1-profit\/","title":{"rendered":"MicroStrategy posts $461.2 million Q1 profit"},"content":{"rendered":"

The analytics software provider MicroStrategy, for the period January\u2013March 2023, posted<\/a> net income of $461.2 million. During the reporting period the company increased its holding in digital gold by 7,500 BTC \u2014 to 140,000 BTC.<\/p>\n

\n

“The commitment to the Bitcoin strategy remains unwavering as the cryptocurrency ecosystem evolves,”<\/em> the press release said.<\/p>\n<\/blockquote>\n

The company cited the resilience of the MicroStrategy One platform’s client base as a driver of revenue growth. The aim is to shift the business to cloud solutions while tightly controlling costs.<\/p>\n

Revenue was $121.9 million (+2.2%, or +5.7% in constant currency, non-GAAP) versus Q1 2022.<\/p>\n

The company reported operating loss of $20.3 million ($170 million in Q1 2022).<\/p>\n

The return to profitability was helped by income tax benefits of $453.2 million and $48 million for the first quarters of 2023 and 2022, respectively.<\/p>\n

In the first quarter the firm fully repaid a loan to Silvergate Bank of $161 million, secured by bitcoins. The obligation was due in 2025. This added $44.7 million to net income.<\/p>\n

Impairment losses on digital assets were $18.9 million and $170.1 million for January\u2013March 2023 and 2022, respectively.<\/p>\n

As of March 31, 2023, the carrying value of the acquired 140,000 BTC stood at $2 billion, reflecting cumulative impairment losses of $2.17 billion and an average book value per BTC of about $14,289.<\/p>\n

The initial cost basis per coin was $29,803, with a market price of $28,468.44.<\/p>\n

As of the end of the first quarter, the company had $94.3 million in cash and cash equivalents, compared with $43.8 million as of December 31, 2022.<\/p>\n

Earlier in September MicroStrategy filed to sell up to $500 million of stock<\/a>. The proceeds could be used to purchase Bitcoin.<\/p>\n

In February the company said in a filing with the SEC<\/span> that it had managed to raise $46.6 million<\/a>.<\/p>\n

In April the position of MicroStrategy in Bitcoin turned positive<\/a> after breaking above $30,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

The analytics software provider MicroStrategy, for the period January\u2013March 2023, posted net income of $461.2 million. During the reporting period the company increased its holding in digital gold by 7,500 BTC\u2014to 140,000 BTC.<\/p>\n","protected":false},"author":1,"featured_media":78131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1207],"class_list":["post-78130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-microstrategy"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78130"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78130\/revisions"}],"predecessor-version":[{"id":78132,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78130\/revisions\/78132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78131"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}