Strategy Inc (MSTR) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and good evening. I am Shreej Jajodia, Corporate Treasurer and Head of Investor Relations at Strategy. I'll be your moderator for Strategy's 2025 Second Quarter Earnings Webinar. Today marks a historic day for Strategy and all our investors. We believe this deserves an exciting brand new format of our earnings call in line with our mission to digitally transform investor relations and be the most transparent company in the world. We will start the call with 60-minute presentation. Approximately this time, we have shuffled the order of the presenters. Andrew Kang will begin first, followed by Michael Saylor and then Fong Lee. This will be followed by a 30-minute interactive Q&A session with our four Wall Street equity analysts and four Bitcoin analysts. Before we proceed, I will read the Safe Harbor statement. Some of the information we provide in this presentation regarding our future expectations, plans, Guidance and prospects may constitute forward-looking statements, including, without limitation, our guidance with respect to 2025 operating income, net income, earnings per share, BTC yield, and BTC dollar gain, and the hypothetical valuation models contained in this presentation. Actual results may differ materially from these forward-looking statements due to various important factors including the risk factors discussed in our most recent quarterly report on Form 10-Q filed with the SEC on May 5, 2025, and our current report on Form 8-K filed with the SEC on July 7, 2025. And in the case of our guidance with respect to 2025 operating income, net income, earnings per share, BTC yield and BTC dollar gain, and the hypothetical valuation models contained in this presentation, each of which is based on assumed Bitcoin price at the end of the year. The ...