Strategy Inc stock research
FY2023 Q4
Strategy (MSTR) Gross Margin — Quarter Ended Dec 31, 2023
Revenue and gross profit were lower compared to both the immediately preceding quarter and the same quarter one year earlier. Cost of revenue increased, resulting in a lower gross margin.
Gross margin takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue and gross profit were lower compared to both the immediately preceding quarter and the same quarter one year earlier. Cost of revenue increased, resulting in a lower gross margin.
- Revenue decreased from the prior quarter and the year-ago quarter, while cost of revenue increased slightly, leading to a lower gross margin.
- Sequentially, gross margin weakened from the prior quarter, and it was also lower than the same quarter last year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
77.3%
Gross profit
$96.3M
Revenue
$124.5M
Cost of revenue
$28.2M
Quarter-over-quarter change
-2.1 pts
Year-over-year change
-2.5 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $121.9M | $94.0M | $27.9M | 77.1% |
| Jun 30, 2023 | $120.4M | $93.3M | $27.1M | 77.5% |
| Sep 30, 2023 | $129.5M | $102.8M | $26.7M | 79.4% |
| Dec 31, 2023 | $124.5M | $96.3M | $28.2M | 77.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2023
-2.1 pts
Year-over-year change
Dec 31, 2022
-2.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Revenue decreased from the prior quarter and the year-ago quarter, while cost of revenue increased slightly, leading to a lower gross margin.
Sequentially, gross margin weakened from the prior quarter, and it was also lower than the same quarter last year.
Monitor the trend of cost of revenue in relation to revenue.