SHARPE
Reported results
- Total revenues for the third quarter of 2026 were $125.4 million, a 3% decrease year-over-year compared to $128.7 million in the third quarter of 2025.
- Operating income for the third quarter of 2026 was $20.91 billion, compared to operating income of $3.89 billion for the third quarter of 2025.
- Operating income for the third quarter of 2026 includes a gain on the Company’s digital assets of $20.91 billion, compared to a gain of $3.89 billion for the third quarter of 2025.
- Net income attributable to common stockholders for the third quarter of 2026 was $19.12 billion, compared to $2.65 billion for the third quarter of 2025.
- Diluted earnings per common share for the third quarter of 2026 was $44.75, compared to $8.42 for the third quarter of 2025.
- Gross profit for the third quarter of 2026 was $89.6 million, representing a 71% gross margin, compared to $90.7 million, representing a 70% gross margin, for the third quarter of 2025.
Guidance
- Strategy expects the distributions paid on its preferred equity instruments to be treated as non-taxable return of capital for the foreseeable future (i.e., ten years or more).
- Strategy does not expect to generate positive current accumulated earnings & profits (E&P) for U.S. federal income tax purposes in the current year or the foreseeable future.
Price and volatility reaction
The stock moved -7.8% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved +7.8 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 141.62 | 2026-10-29 |
| Close after release | 130.51 | 2026-10-30 |
| Realised move | -7.8% | close to close |
| 30d ATM IV change | +7.8 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-29 (8-K, Item 2.02). Read the original filing on sec.gov.