Slide 1: 4Q 2020 Financial Results
4Q 2020 Financial Results January 28, 2021 Intelligence Everywhere Copyright © 2021 MicroStrategy Incorporated. All Rights Reserved.
Slide 2: Safe Harbor Statement
MicroStrategy 4Q 2020 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: FY 2020 Highlights
FY 2020 Highlights $68.2M $480.7M $123.2M Non-GAAP Operating Income, an Total Revenue, a modest decrease of Returned to shareholders through increase of $59.0M YOY 1% despite COVID pandemic stock repurchases $321.9M $15.5M 70,469 Non-GAAP Operating Expenses, a Current Subscription Billings, an Bitco
Slide 4: FY 2021 Priorities
FY 2021 Priorities Targeting $70-90M of non-GAAP Continue to grow subscription billings operating income in 2021 Maintain cost savings from virtual wave Continue to invest excess capital in Bitcoin Intelligence Everywhere 4
Slide 5: 4Q 2020 Financial Highlights – Revenue
4Q 2020 Financial Highlights – Revenue (in Millions) Slight decrease in total Slight decrease in product Strong adoption of cloud revenue, down 2% YoY license revenue, down 1% with a 41% increase in following strong Q3 YoY Subscription Billings YOY Please refer to the Appendix for a reconciliation o
Slide 6: 4Q 2020 Financial Highlights – Operating Income (Loss)
4Q 2020 Financial Highlights – Operating Income (Loss) in Millions $30.1 $26.5 Non-GAAP operating income of $12.0 $9.6 $8.6 $30.1M, up 152% YoY and up $4.6 $6.4 $6.3 $3.0 13% QoQ $0.4 $(1.8) $(0.1) $(4.8) $(7.4) $(10.4) GAAP operating income $(20.3) includes $26.5M digital 1Q/19 2Q/19 3Q/19 4Q/19 1Q
Slide 7: FY 2020 and 4Q 2020 Highlights – Capital Allocation
FY 2020 and 4Q 2020 Financial Highlights – Capital Allocation Bitcoin Value ($M) Bitcoin Acquisition In 4Q 2020, purchased ~32,220 Bitcoins at an aggregate cost of ~$700M with an average price of ~$21,726 per Bitcoin, inclusive of fees and expenses. This includes the proceeds from $650M in convertib
Slide 8: Appendix
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Slide 9: Non-GAAP Reconciliations: GAAP to Non-GAAP Income from Operations
MicroStrategy 4Q 2020 Earnings Call Non-GAAP Reconciliations ($M) Reconciliation of GAAP to Non-GAAP Income (loss) from Operations 1Q 19 2Q 19 3Q 19 4Q 19 FY 2019 1Q 20 2Q 20 3Q 20 4Q 20 FY 2020 Revenue $115.4 $117.7 $119.7 $133.5 $486.3 $111.4 $110.6 $127.4 $131.3 $480.7 Cost of Revenues $26.2 $25.
Slide 10: Non-GAAP Reconciliations: Operating Expenses and Total Expenses
MicroStrategy 4Q 2020 Earnings Call Non-GAAP Reconciliations ($M) Reconciliation of Non-GAAP Operating Expenses 1Q 19 2Q 19 3Q 19 4Q 19 FY 2019 1Q 20 2Q 20 3Q 20 4Q 20 FY 2020 Operating Expenses $99.6 $97.2 $91.3 $99.3 $387.4 $87.0 $80.3 $125.9 $110.1 $403.3 Stock-Based Compensation* $2.8 $2.9 $1.7