Technique Inc. (NASDAQ: MSTR), the company Bitcoin treasury agency based by Michael Saylor, has reported a web revenue of $2.8 billion in Q3 2025, marking the second consecutive fiscal quarter of constructive earnings.

The revenue progress, pushed by unrealized positive factors on its large Bitcoin (BTC) holdings, represents a pointy turnaround from the $340 million in losses recorded throughout the identical quarter final 12 months.

Technique reported $48 billion in working revenue and $20 billion in unrealized positive factors from its Bitcoin holdings, solidifying its place because the world’s largest company holder of the alpha cryptocurrency. The Virginia-based firm now owns roughly 640,808 BTC, valued at $70.6 billion as of October 26.

Michael Saylor’s Technique Studies $2.8 Billion Web Earnings For Q3 2025, with Bitcoin Holdings Returning $20 Billion in Unrealized Earnings

In accordance with its Q3 monetary outcomes launched on Thursday, the enterprise intelligence and Bitcoin treasury agency posted a web revenue of $2.8 billion and diluted earnings of $8.42 per share for the three months ended September 30. For comparability, Technique’s earnings for Q3 2024 have been $340.2 million, or $1.72 per share, with working prices reaching $3.9 billion for the quarter.

Its profitability stems largely from positive factors on its Bitcoin holdings, which have been acquired at a median price of $74,032 per BTC, or a complete price foundation of $47.4 billion. As Bitcoin at the moment trades at above $109,000, the corporate is sitting on substantial unrealized positive factors.

Technique’s working revenue hit $3.9 billion for the quarter, a drastic reversal from a $432.6 million working loss in the identical interval final 12 months. The unrealized appreciation on the corporate’s Bitcoin place was made attainable by a brand new truthful worth accounting rule that got here into impact in January 2025.

For the reason that flip of the 12 months, Technique’s (previously MicroStrategy) enterprise mannequin has developed from a software program improvement agency right into a full-blown Bitcoin treasury firm with a “buy-and-hold” technique, essentially reworking how the market values it. The method includes the agency holding Bitcoin as its major treasury reserve asset, with its inventory value typically reflecting adjustments to BTC’s market value.

This enables the corporate to lift further capital by numerous capital markets devices, together with frequent inventory and most well-liked shares. The capital is then used for contemporary Bitcoin purchases, making a self-reinforcing cycle. To date this 12 months, Technique has achieved a BTC yield of 26% and a BTC greenback acquire of $12.9 billion, primarily based on Bitcoin altering palms at $110,000 per coin.

Till This fall 2024, the corporate may solely report impairment losses if Bitcoin fell under its buy value. Positive factors remained unrealized except the cryptocurrency was offered. Nonetheless, the up to date accounting guidelines now permit Technique to acknowledge positive factors from Bitcoin’s market appreciation.

This has reworked Technique’s monetary statements, as the corporate now experiences quarterly income that replicate the market worth of its Bitcoin holdings, offering higher transparency into the economics of its treasury technique.

Technique Targets Working Earnings of $34 Billion and $80 EPS by 12 months-Finish

Technique CEO Phong Le reaffirmed within the quarterly report that the corporate’s full-year goal is $20 billion in BTC greenback positive factors and 30% BTC yield. CFO Andrew Kang maintained the steering for $34 billion in working revenue, $24 billion in web revenue, and $80 in earnings per share (EPS) for 2025, primarily based on a forecast that Bitcoin’s value hits $150,000 by year-end.

In the meantime, Technique’s core software program enterprise generated $128.7 million in income, up 10.9% year-over-year, with its subscription service showcasing a powerful progress price of 65.4%.

Lately, the S&P awarded Technique a credit score rating of “-B”, which the chief chairman and co-founder, Michael Saylor, mentioned ought to broaden the marketplace for the corporate’s securities. Technique continues to broaden its suite of most well-liked inventory choices, launching the STRC variable-rate perpetual most well-liked, which carries a dividend that adjusts month-to-month on MSTR’s buying and selling value. STRC’s dividend price has been elevated by 25 foundation factors to 10.50% for November 2025.

MSTR closed Thursday’s buying and selling session at $254.57, down 4.91% day by day, 21% over the previous month, and roughly 15.15% year-to-date, as traders are frequently assessing the volatility inherent in crypto asset treasury methods. That is in stark distinction to Bitcoin’s 51.74% yearly acquire. The divergence means that the market could also be pricing in considerations over the inventory’s valuation, dilution from capital raises, and regulatory ambiguities.

On the time of writing, Bitcoin (BTC) is buying and selling at $110,008 – down 0.43% in 24 hours.