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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Lance Vitanza | TD Cowen | 5 | 40% |
| Mark Palmer | Benchmark | 4 | 0% |
| Brian Dobson | Clear Street | 4 | 0% |
| Andy Harte | BTIG | 3 | 0% |
| Peter Christiansen | Citigroup | 2 | 0% |
| Ramsey Assal | Cantor Fitzgerald | 2 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| TD Cowen | 1 | 5 | 40% |
| Clear Street | 1 | 4 | 0% |
| Benchmark | 1 | 4 | 0% |
| BTIG | 1 |
| 3 |
| 0% |
| Citigroup | 1 | 2 | 0% |
| Cantor Fitzgerald | 1 | 2 | 0% |
| Strive | 2 | 2 | 0% |
Strategy reported a $14.5 billion Q1 operating loss from Bitcoin fair value decline, with holdings growing to 818,334 BTC representing 3.9% of total supply as the STRC preferred program raised $8.5 billion in nine months becoming the largest preferred equity issuance globally. No GAAP financial guidance was provided; management reiterated the objective of doubling Bitcoin per share in seven years at approximately 10% annual BTC yield, while the capital strategy shifted from equity issuance toward digital credit instruments as Bitcoin sales emerged as a new strategic option for the first time.
Capital Allocation | Credit | Competitive Dynamics | Regulation Policy | Demand | Guidance Reliability | Innovation & R&D | Geographic Expansion | |
|---|---|---|---|---|---|---|---|---|
| 2025Q2 | 2 | 2 | 2 | 2 | 1 | |||
| 2025Q3 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 2 |
| 2025Q4 | 3 | 2 | 1 | 1 | 1 | 1 | ||
| 2026Q1 | 3 | 5 | 2 | 1 | 1 | 2 |
| '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|
| Capital Allocation | 2 | 3 | 3 | 3 |
| Credit | 2 | 2 | 5 | |
| Competitive Dynamics | 2 | 2 | 1 | 2 |
| Regulation Policy | 2 | 1 | 1 | 1 |
| Demand | 2 | 1 | 1 | 1 |
| Guidance Reliability | 1 | 1 | 1 | |
| Innovation & R&D | 1 | 2 | ||
| Geographic Expansion | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MSTR MicroStrategy Inc. | 7 | +11.9% | |
| ADSK Autodesk | 10 | +18.4% | |
| APP Applovin Corp | 9 | +24.1% | |
| CDNS Cadence Design Systems | 9 | +18.7% | |
| CRM Salesforce, Inc. | 9 | +13.3% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| INTU Intuit | 9 | +10.4% | |
| NOW ServiceNow | 7 | +22.1% | |
| PTC PTC Inc. | 9 | +21.7% | |
| SHOP Shopify | 8 | +34.3% | |
| TEAM Atlassian | 7 | +31.7% | |
| TTD The Trade Desk, Inc. | 8 | +11.8% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 9 | +13.5% |