MicroStrategy Incorporated ( MSTR ) reported its first-quarter financial results after the bell Monday. Here's a look at the details. 

The Details:

MicroStrategy ( MSTR ) reported quarterly non-GAAP losses of $8.26 per share. Quarterly sales came in at $115.2 million which missed the analyst consensus estimate of $121.725 million by 5.36% and represents a 5.51% decrease year-over-year. The company now holds 214,400 bitcoins.

As of March 31, 2024, the carrying value of MicroStrategy’s digital assets (comprised of approximately 214,278 bitcoins) was $5.074 billion, which reflects cumulative impairment losses of $2.461 billion since acquisition and an average carrying amount per bitcoin of approximately $23,680. The original cost basis and market value of the company’s bitcoin were $7.535 billion and $15.220 billion, respectively, which reflects an average cost per bitcoin of approximately $35,164 and a market price per bitcoin of $71,028.14, respectively.

“As the world’s first Bitcoin Development Company, MicroStrategy ( MSTR ) is committed to the continued development of the bitcoin network through our activities in the financial markets, advocacy and technology innovation,” said Andrew Kang, CFO of MicroStrategy ( MSTR ).

“It is through our unique bitcoin strategy and solid track record as an operating company that we now hold 214,400 bitcoins at an average purchase price of $35,180 per bitcoin. In the first quarter, our subscription services revenues and subscription billings both grew again at double-digit growth rates reflecting the continued successful transition of our software business to a cloud-native platform. We are very pleased with the continued global adoption of our cloud platform,” Kang added.

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MSTR Price Action: According to Benzinga Pro, MicroStrategy ( MSTR ) shares are down 2.78% after-hours at $1,257.00 at the time of publication Monday.

Image: Master Tux from Pixabay