The following is a summary of the MicroStrategy Incorporated (MSTR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MicroStrategy reported Q1 2024 revenue of $115.2 million, subscription services revenues amounted to $23 million, up 22% YoY.

• Bitcoin acquisitions have been enabled through excess cash or through corporate debt capital raises or equity capital raises.

• The company issued $800 million and $603.75 million of convertible notes due March 2030 and 2031 respectively, with proceeds used for Bitcoin investments.

• Since Q3 2021, the company raised a total of $3.2 billion through ATM offerings aiming to increase Bitcoin holdings.

• As of Q1 2024, the company increased unrestricted cash and cash equivalents on the balance sheet to $81.3 million.

Business Progress:

• MicroStrategy is focusing on transitioning its business to the cloud, with subscription revenues evidencing its success.

• The company continues to innovate in AI with the launch of Auto Express and other AI offerings.

• MicroStrategy's cloud-native platform is now offered across Google Cloud Marketplace, Azure, and AWS.

• The company is developing security software for Bitcoin, with new developments expected to be shared at an upcoming conference.

• The company aims to convert as many clients as possible to the cloud, leveraging partnerships with hyperscalers; however, acknowledges potential short-term disruptions to product license and total revenue.

• Future strategic focus remains on growing the cloud business, AI innovation and boosting Bitcoin holdings.

More details: MicroStrategy IR

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