Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Companies

MicroStrategy, reporting $119.3 million in revenues

MicroStrategy announced its first-quarter financial results for 2022 on Tuesday, reporting $119.3 million in revenues for the period.

The firm, which holds more than 129,000 BTC on its balance sheet, said that non-GAAP expenses came in at $275 million for Q1, compared to $298 million in the first quarter of 2021. In Q1 2022, $170 million worth of those expenses were in the form of bitcoin impairment charges. 

“Loss from operations for the first quarter of 2022 was $170.0 million, compared to $183.2 million for the first quarter of 2021. Net loss for the first quarter of 2022 was $130.8 million, or $11.58 per share on a diluted basis, as compared to $110.0 million, or $11.40 per share on a diluted basis, for the first quarter of 2021,” MicroStrategy said. “Digital asset impairment charges of $170.1 million and $194.1 million for the first quarter of 2022 and 2021, respectively, were reflected in these amounts.”

On the financial state of its bitcoin holdings, MicroStrategy said:

“As of March 31, 2022, the carrying value of MicroStrategy’s digital assets (comprised of approximately 129,218 bitcoins) was $2.896 billion, which reflects cumulative impairment losses of $1.071 billion since acquisition and an average carrying amount per bitcoin of approximately $22,409. As of March 31, 2022, the original cost basis and market value of MicroStrategy’s bitcoin were $3.967 billion and $5.893 billion, respectively, which reflects an average cost per bitcoin of approximately $30,700 and a market price per bitcoin of $45,602.79, respectively.”

In its earnings release, MicroStrategy made note of a bitcoin-backed loan deal with Silvergate via its MacroStrategy subsidiary and suggested it may pursue future deals of this kind. The loan deal was announced in late March.

“May conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins,” the firm said in its presentation document.

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...