Filing Flows › Strategy (MSTR) › Q2 2026 › vs Q1 2026
Strategy (MSTR) Q2 2026 vs Q1 2026 (quarter over quarter)
Strategy's revenue fell $1.9M (-2%) from $124M in Q1 2026 to $122M in Q2 2026. The biggest changes: Product support −$3.9M (-9%); Total product licenses and subscription services +$2.1M (+3%); Other services −$132K (-0.8%).
Strategy, Q2 2026: revenue $122M (+7% year over year), net loss $8.2B, operating cash flow −$4.1M. The chart draws each line against Q1 2026, the increases inside each band.
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Subscription services | $62.9M | $58.9M | $4.0M | +7% |
| Product licenses | $3.7M | $5.5M | −$1.8M | -33% |
| Total product licenses and subscription services | $66.5M | $64.4M | $2.1M | +3% |
| Product support | $40.2M | $44.2M | −$3.9M | -9% |
| Other services | $15.6M | $15.7M | −$132K | -0.8% |
| Revenue | $122M | $124M | −$1.9M | -2% |
| Other income, net | $113M | $4.9M | $108M | 23× |
| Net loss | $8.2B | $12.5B | −$4.3B | -34% |
| Costs & expenses | $8.5B | $14.6B | −$6.1B | -42% |
| Operating costs | $8.5B | $14.6B | −$6.1B | -42% |
| Income tax | $1.6M | −$1.9B | $1.9B | — |
| Cost of revenue | $40.8M | $40.9M | −$128K | -0.3% |
| Research & development | $23.1M | $24.7M | −$1.6M | -6% |
| Sales & marketing | $34.1M | $36.3M | −$2.2M | -6% |
| General & admin | $39.9M | $37.4M | $2.6M | +7% |
| Other operating costs | $8.3B | $14.5B | −$6.1B | -42% |
| Operating cash sources | $8.2B | $12.5B | −$4.3B | -34% |
| Depreciation & amortization | $12.4M | $8.8M | $3.6M | +41% |
| Share-based compensation | $14.3M | $13.2M | $1.1M | +8% |
| Working capital & other | $8.2B | $12.5B | −$4.3B | -35% |
| Cash used in operations | $4.1M | −$14.0M | $18.1M | — |
| Net loss absorbed | $8.2B | $12.5B | −$4.3B | -34% |
Questions
How much did Strategy's revenue grow quarter over quarter in Q2 2026?
Strategy's revenue fell $1.9M (-2%) from $124M in Q1 2026 to $122M in Q2 2026.
What drove Strategy's revenue change in Q2 2026?
Product support −$3.9M (-9%); Total product licenses and subscription services +$2.1M (+3%); Other services −$132K (-0.8%).