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Microstrategy Inc (MSTR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Microstrategy Inc

CIK: 1050446 Ticker: MSTR

Exhibit 99.1

Contact:

MicroStrategy Incorporated

Investor Relations

ir@microstrategy.com

(703) 848-8600

MicroStrategy Announces

Fourth Quarter 2017 Financial Results

TYSONS CORNER, Va., January 25, 2018 - MicroStrategy

® Incorporated (Nasdaq: MSTR), a leading worldwide provider of enterprise analytics and mobility software, today announced financial results for the three-month period ended December 31, 2017 (the fourth quarter of its 2017 fiscal year).

Fourth quarter 2017 revenues were $138.1 million versus $140.1 million for the fourth quarter of 2016, a 1.4% decrease. Product licenses and subscription services revenues for the fourth quarter of 2017 were $40.8 million versus $45.8 million for the fourth quarter of 2016, a 10.9% decrease. Product support revenues for the fourth quarter of 2017 were $75.0 million versus $72.7 million for the fourth quarter of 2016, a 3.2% increase. Other services revenues for the fourth quarter of 2017 were $22.3 million versus $21.6 million for the fourth quarter of 2016, a 3.1% increase. Foreign currency effects had a favorable impact on revenues for the fourth quarter of 2017.

Operating expenses for the fourth quarter of 2017 were $94.6 million versus $80.1 million for the fourth quarter of 2016, an 18.2% increase. MicroStrategy did not capitalize any software development costs during the fourth quarter of 2017 or 2016.

Income from operations for the fourth quarter of 2017 was $18.8 million versus $36.7 million for the fourth quarter of 2016. Net loss for the fourth quarter of 2017 was $26.2 million, or $(2.29) per share on a diluted basis, as compared to net income of $31.1 million, or $2.69 per share on a diluted basis, for the fourth quarter of 2016. This net loss included an estimated one-time tax charge of $44.0 million resulting from the recent enactment of U.S. corporate tax reform legislation. This charge is comprised of a $40.3 million tax expense related to the mandatory deemed repatriation of certain foreign earnings and profits, which we intend to elect to pay over an eight-year period beginning in 2018, and $3.7 million related to the re-measurement of net deferred tax assets arising from the new lower corporate tax rate effected by the legislation. Excluding the impact of this legislation, non-GAAP net income for the fourth quarter of 2017 was $17.8 million, or $1.55 per share on a diluted basis.

Additionally, non-GAAP income from operations, which excludes share-based compensation expense and restructuring costs, was $22.5 million for the fourth quarter of 2017 versus $40.1 million for the fourth quarter of 2016. The tables at the end of this press release include a reconciliation of GAAP to non-GAAP financial measures for the three months ended December 31, 2017 and 2016. An explanation of non-GAAP financial measures is also included under the heading “Non-GAAP Financial Measures” below.

As of December 31, 2017, MicroStrategy had cash and cash equivalents and short-term investments of $675.2 million, as compared to $589.4 million as of December 31, 2016, an increase of $85.8 million. As of December 31, 2017, MicroStrategy had 9.4 million shares of class A common stock and 2.0 million shares of class B common stock outstanding.


The following information was filed by Microstrategy Inc (MSTR) on Thursday, January 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Microstrategy Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Assumptions Used In Black-Scholes Pricing Model (Detail)
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Company's Deferred Tax Assets, Net Of Deferred Tax Liabilities And Valuation Allowance (Detail)
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Contract Balances - Additional Information (Detail1)
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Recent Accounting Standards - Line Items Adjusted In Consolidated Balance Sheet (Detail)
Recent Accounting Standards - Line Items Adjusted In Consolidated Statement Of Cash Flows (Detail)
Recent Accounting Standards - Line Items Adjusted In Consolidated Statement Of Comprehensive Income (Detail)
Recent Accounting Standards - Line Items Adjusted In Consolidated Statement Of Operations (Detail)
Schedule Of Accounts Receivable (Detail)
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Summary Of Significant Accounting Policies
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Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Stock Option Activity (Detail)
Total Revenues Gross Profit And Long Lived Assets Excluding Long Term Deferred Tax Assets (Detail)
Treasury Stock
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Ticker: MSTR
CIK: 1050446
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-025131
Submitted to the SEC: Thu Oct 25 2018 12:22:19 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Prepackaged Software

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