MicroStrategy Financials

$504.5 M

Revenue FY, 2017

$1.5 B

Mkt cap, 20-Apr-2018
Gross profit (FY, 2017)407.9 M
Gross profit margin (FY, 2017), %80.8%
Net income (FY, 2017)17.6 M
EBIT (FY, 2017)74.4 M
Cash, 31-Dec-2017420.2 M

Revenue/Financials

Income Statement

Annual

usdFY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

454.6 m537.2 m565.7 m575.9 m579.8 m529.9 m512.2 m504.5 m

Revenue growth, %

18%5%2%1%(9%)(3%)

Cost of goods sold

138.6 m135.2 m101.1 m93.1 m96.6 m

Gross profit

437.3 m444.6 m428.8 m419 m407.9 m

Gross profit Margin, %

76%77%81%82%81%

Sales and marketing expense

158.7 m174.6 m

R&D expense

73.1 m78.8 m

General and administrative expense

79.5 m80.2 m

Operating expense total

311.3 m333.5 m

EBIT

19.4 m5.1 m134 m107.6 m74.4 m

EBIT margin, %

3%1%25%21%15%

Interest income

5.2 m

Pre tax profit

16.8 m11.1 m137.9 m113 m72.6 m

Income tax expense

11.2 m3.4 m9.7 m(9.8 m)6 m31.9 m22.1 m55 m

Net Income

83.3 m5 m105.9 m90.9 m17.6 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

141.9 m137.9 m141.9 m151.2 m123.9 m132.9 m129.5 m119 m123.1 m129.9 m120.6 m120.6 m125.2 m

Cost of goods sold

33.3 m33 m35.6 m35 m27.1 m25.9 m24.7 m22.8 m24.1 m22.9 m23.1 m24.4 m24.4 m

Gross profit

108.7 m104.9 m106.2 m116.2 m96.8 m107 m104.9 m96.2 m99 m107 m97.4 m96.2 m100.8 m

Gross profit Margin, %

77%76%75%77%78%81%81%81%80%82%81%80%81%

Sales and marketing expense

50.8 m58.9 m61 m58.2 m36.5 m36.2 m36.4 m36.6 m37.7 m39.2 m39.4 m41.4 m41.8 m

R&D expense

22 m28.1 m32.7 m28.7 m15.4 m14.9 m17.8 m17.6 m19.2 m18.1 m18.4 m19.6 m19.4 m

General and administrative expense

24.3 m26.3 m25.3 m24.8 m22.1 m21.1 m19.8 m22.2 m21.1 m19.7 m20.3 m19.6 m19.1 m

Operating expense total

97 m113.2 m119 m123.2 m74.1 m72.3 m74.1 m76.4 m78 m77 m78.1 m80.6 m80.2 m

EBIT

22.6 m34.8 m30.7 m19.8 m21.1 m30 m19.4 m15.7 m20.6 m

EBIT margin, %

18%26%24%17%17%23%16%13%16%

Pre tax profit

8.5 m(9.4 m)(13.2 m)(2 m)27.4 m31.8 m31.6 m18.5 m23.4 m30 m18.3 m14.2 m20.1 m

Income tax expense

(8.7 m)6.9 m9.4 m7.7 m4.3 m4.5 m3.4 m3.5 m3.1 m2.2 m

Net Income

17.1 m(6.5 m)(10.3 m)(845 k)20.5 m22.5 m23.9 m14.3 m18.9 m26.6 m14.9 m11.1 m17.9 m

Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016FY, 2017

Cash

224.8 m174.1 m199.6 m224.4 m220.2 m146.9 m292.3 m402 m420.2 m

Accounts Receivable

86.2 m78.6 m68.2 m83.3 m69.5 m

Inventories

14.3 m17.7 m10.9 m11.5 m

Current Assets

479.9 m462.4 m565.3 m685 m763.6 m

PP&E

85.4 m77.9 m65.7 m57.4 m53.4 m

Total Assets

585.5 m558.8 m656.9 m768.3 m835.7 m

Accounts Payable

39.9 m35.5 m31.8 m36.6 m30.7 m

Short-term debt

Current Liabilities

233.5 m197.3 m172.7 m185.5 m184.9 m

Long-term debt

Total Liabilities

216.1 m245.2 m

Common Stock

15 k16 k16 k16 k16 k

Additional Paid-in Capital

494.1 m506.7 m534.7 m544 m559.9 m

Retained Earnings

292.2 m297.3 m403.2 m494.1 m511.8 m

Total Equity

310.3 m324.5 m455.3 m552.2 m590.5 m

Financial Leverage

1.9 x1.7 x1.4 x1.4 x1.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

163.8 m214.8 m111.9 m136 m165.1 m201.1 m230.2 m308.9 m347.4 m365.6 m358.7 m379.7 m386.9 m

Accounts Receivable

62.9 m67.7 m57.5 m57.5 m58.4 m56 m55 m56.6 m54.9 m58.1 m73.4 m68 m66.3 m

Current Assets

441.6 m462.4 m466.5 m464.3 m483.4 m513.4 m536.9 m608.1 m621 m649.1 m704.5 m715.2 m730.9 m

PP&E

89.2 m82 m85 m81.5 m75.7 m72.4 m68.9 m63.2 m61.5 m59.7 m55.8 m54.5 m53.7 m

Total Assets

552.7 m568.6 m568.4 m559.7 m581.9 m611.1 m628 m693.2 m709.6 m735.5 m786.5 m797.1 m813.7 m

Accounts Payable

36.9 m37.9 m40.3 m34.6 m28.4 m24.6 m26.6 m27.8 m27.5 m26.1 m20.8 m23.7 m25.4 m

Current Liabilities

219.4 m228.7 m230.9 m222.5 m197.3 m188.2 m181.2 m195.9 m189.1 m183.1 m186 m181.6 m176.8 m

Total Liabilities

260.6 m262.9 m270.2 m260.7 m233.5 m230.4 m219.4 m225.3 m220 m215.6 m214.5 m207.4 m201.3 m

Common Stock

15 k15 k15 k15 k16 k16 k16 k16 k16 k16 k16 k16 k16 k

Additional Paid-in Capital

492.5 m495.7 m498.8 m502.6 m512.3 m521.1 m525.6 m532.3 m536.7 m540 m548.2 m552.5 m556.2 m

Retained Earnings

276.1 m285.8 m275.4 m274.6 m317.7 m340.2 m364.1 m417.5 m436.4 m463 m509 m520.1 m538 m

Total Equity

292.1 m305.7 m298.1 m299.1 m348.3 m380.7 m408.5 m467.8 m489.6 m519.9 m572 m589.7 m612.3 m

Financial Leverage

1.9 x1.9 x1.9 x1.9 x1.7 x1.6 x1.5 x1.5 x1.4 x1.4 x1.4 x1.4 x1.3 x

Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

83.3 m5 m105.9 m90.9 m17.6 m

Depreciation and Amortization

26.4 m25.3 m21.2 m17.2 m12.6 m

Accounts Receivable

676 k(276 k)5 m(16.9 m)15.3 m

Inventories

(565 k)(2.7 m)4.4 m(880 k)

Accounts Payable

(4.8 m)(1.7 m)1.9 m7 m(9.1 m)

Cash From Operating Activities

29.9 m14.6 m149.7 m110.6 m78.3 m

Purchases of PP&E

(11 m)(12.4 m)(3.5 m)(2.3 m)(4 m)

Cash From Investing Activities

(54.9 m)(82.1 m)(7.7 m)4.2 m(69.7 m)

Cash From Financing Activities

21.6 m(1.5 m)9.2 m(1 m)1.7 m

Interest Paid

78 k74 k34 k2 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

67.2 m(6.5 m)(16.8 m)(17.7 m)20.5 m42.9 m66.8 m14.3 m33.2 m59.8 m14.9 m25.9 m43.9 m

Depreciation and Amortization

19.6 m6.7 m13.3 m19.3 m5.1 m10.3 m16.2 m4.6 m8.8 m13.1 m3.8 m7.1 m9.8 m

Accounts Receivable

22.4 m16.6 m26.4 m23.5 m16.2 m19.7 m19.5 m11.9 m12.9 m9 m9.6 m16 m18.8 m

Accounts Payable

(8 m)(1.8 m)(5.1 m)(2.8 m)(6.2 m)(8.6 m)(4.9 m)(3.1 m)(4.4 m)(4.7 m)(16.3 m)(15.5 m)(14.5 m)

Cash From Operating Activities

14.6 m10.8 m14.4 m16.3 m55.8 m92 m123.4 m50.8 m66.5 m94 m26.5 m37.1 m49.3 m

Purchases of PP&E

(10 m)(1.7 m)(4.2 m)(11.9 m)(1.5 m)(3.3 m)(3.4 m)(193 k)(935 k)(1.6 m)(820 k)(1.5 m)(2.3 m)

Cash From Investing Activities

(96.5 m)(16.1 m)(122.7 m)(96.4 m)(35.1 m)(41 m)(40.9 m)(34.2 m)(9.9 m)(20.9 m)(73.1 m)(66.2 m)(73 m)

Cash From Financing Activities

21.9 m(256 k)(341 k)(2 m)1.8 m6.2 m5 m(2.4 m)(2.6 m)(1.5 m)1.1 m1.7 m1.7 m

Ratios

USDY, 2017

Revenue/Employee

231.7 k

Financial Leverage

1.4 x
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Operating Metrics

MicroStrategy's Patent Applications was reported to be 8 in FY, 2017.
FY, 2014FY, 2015FY, 2016FY, 2017

Countries

28 27 27

Patent Applications

8

Patents Issued

132
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