Slide 1: Q1 2021 Financial Results
Q1 2021 FINANCIAL RESULTS APRIL 29, 2021 1
Slide 2: Safe Harbor Statement
MICROSTRATEGY Q1 2021 EARNINGS CALL SAFE HARBOR STATEMENT FORWARD-LOOKING STATEMENTS Some of the information we provide in this presentation regarding our future expectations, plans, and prospects may constitute forward-looking statements. Actual results may differ materially from these forward- loo
Slide 3: Q1 2021 Business Results
Q1 2021 BUSINESS RESULTS $122.9M $10.0M $18.7M Total Revenues, an increase of 10% Subscription Services Revenues, an Non-GAAP Operating Income, an YoY, and an increase of 7% increase of 26% YoY increase of $15.6M YoY from Q1 19 $21.3M $9.5M $82.0M Product Licenses Revenues, an Current Subscription B
Slide 4: Q1 2021 Business Highlights
Q1 2021 BUSINESS HIGHLIGHTS Healthy mix of new and existing MicroStrategy World had over 12,000 Issued $1.05 billion in aggregate customers, on premises and in the attendees and included 175 hours of principal amount of convertible notes Cloud live and pre-recorded content with an interest rate of 0
Slide 5: Q1 2021 Financial Highlights – Revenue
Q1 2021 FINANCIAL HIGHLIGHTS – REVENUE (IN MILLIONS) TOTAL REVENUES PRODUCT LICENSES CONTINUED INCREASE IN INCREASED 10% YOY AND REVENUES INCREASED CURRENT SUBSCRIPTION 7% FROM Q1 19 69% YOY AND 16% FROM BILLINGS OF 19% YOY Q1 19 Please refer to the Appendix for a reconciliation of Subscription Serv
Slide 6: Q1 2021 Financial Highlights – Operating Income (Loss)
Q1 2021 FINANCIAL HIGHLIGHTS – OPERATING INCOME (LOSS) IN MILLIONS NON-GAAP OPERATING INCOME OF $18.7M, UP 514% YOY GAAP OPERATING LOSS INCLUDES $194.1M DIGITAL ASSET IMPAIRMENT CHARGE $(183.2) Please refer to the Appendix for a reconciliation of non-GAAP Operating Income (Loss) Intelligence Everywh
Slide 7: Q1 2021 Financial Highlights – Capital Allocation
Q1 2021 FINANCIAL HIGHLIGHTS – CAPITAL ALLOCATION BITCOIN ACQUISITION In Q1 21, purchased ~20,857 bitcoins at an aggregate cost of ~$1.086 billion with an average purchase price of ~$52,087 per bitcoin, inclusive of fees and expenses. This includes the proceeds from $1.05 billion in convertible note
Slide 8: Appendix
APPENDIX 8
Slide 9: Non-GAAP Reconciliations: Income (Loss) from Operations
MICROSTRATEGY Q1 2021 EARNINGS CALL NON-GAAP RECONCILIATIONS ($M) RECONCILIATION OF GAAP TO NON-GAAP INCOME (LOSS) FROM OPERATIONS Q1 19 Q2 19 Q3 19 Q4 19 FY 2019 Q1 20 Q2 20 Q3 20 Q4 20 FY 2020 Q1 21 Revenue $115.4 $117.7 $119.7 $133.5 $486.3 $111.4 $110.6 $127.4 $131.3 $480.7 $122.9 Cost of Revenu
Slide 10: Non-GAAP Reconciliations: Operating Expenses and Total Expenses
MICROSTRATEGY Q1 2021 EARNINGS CALL NON-GAAP RECONCILIATIONS ($M) RECONCILIATION OF NON-GAAP OPERATING EXPENSES Q1 19 Q2 19 Q3 19 Q4 19 FY 2019 Q1 20 Q2 20 Q3 20 Q4 20 FY 2020 Q1 21 Operating Expenses $99.6 $97.2 $91.3 $99.3 $387.4 $87.0 $80.3 $125.9 $110.1 $403.3 $283.5 Stock-Based Compensation* $2