MicroStrategy hasits Q1 2023 financial results, which show a return to profitability for the company. The report indicates total revenue of $147.8 million, representing a 2.6% increase compared to the same period in 2022. In the first quarter of 2023, MicroStrategy reported a gross profit of $122.5 million, equivalent to an 82.9% gross margin.
The company's operating expenses for the same period dropped by 3.1% compared to the previous year, totaling $92.3 million. Consequently, MicroStrategy's operating income reached $30.2 million, with an operating margin of 20.4%. Moreover, the firm posted a net income of $23.9 million or $2.28 per share.
As of March 31, 2023, MicroStrategy held around 134,000 bitcoins, valued at approximately $7.6 billion. CEO Michael Saylor emphasized the company's continued commitment to holding Bitcoin as its primary treasury reserve asset, despite market fluctuations and regulatory uncertainty.