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MicroStrategy: Third Quarter 2015 Financial Results

The following excerpt is from the company's SEC filing.

TYSONS CORNER, Va., October 26, 2015 - MicroStrategy

Incorporated (Nasdaq: MSTR), a leading worldwide provider of enterprise software platforms, today announced financial results for the three-month period ended September 30, 2015 (the third quarter of its 2015 fiscal year).

Third quarter 2015 revenues were $129.5 million versus $151.2 million for the third quarter of 2014, a 14% decrease. Product licenses and subscription services revenues for the third quarter of 2015 were $34.1 million versus $40.0 million for the third quarter of 2014, a 15% decrease. Product support revenues for the third quar ter of 2015 were $71.4 million versus $75.0 million for the third quarter of 2014, a 5% decrease. Other services revenues for the third quarter of 2015 were $24.1 million versus $36.2 million for the third quarter of 2014, a 33% decrease. Foreign currency headwinds continued to have a negative impact on revenues for the third quarter of 2015.

Operating expenses for the third quarter of 2015 were $74.1 million versus $123.2 million for the third quarter of 2014, a 40% decrease. Third quarter 2015 operating expenses included $0.1 million in restructuring costs, as compared to $11.6 million in restructuring costs in the third quarter of 2014. In addition, MicroStrategy did not capitalize any software development costs during the third quarter of 2015, as compared to $2.3 million in software development costs capitalized during the third quarter of 2014.

Income from operations for the third quarter of 2015 was $30.7 million, as compared to a loss from operations of $7.0 million for the third quarter of 2014. Net income for the third quarter of 2015 was $23.9 million, or $2.06 per share on a diluted basis, as compared to a net loss of $0.8 million, or $0.07 per share on a diluted basis, for the third quarter of 2014.

Non-GAAP income from operations, which excludes share-based compensation expense and restructuring costs, was $35.4 million for the third quarter of 2015 versus $8.5 million for the third quarter of 2014.

As of September 30, 2015, MicroStrategy had cash and cash equivalents and short-term investments of $456.9 million, as compared to $345.5 million as of December 31, 2014, an increase of $111.4 million. As of September 30, 2015, MicroStrategy had 9.3 million shares of class A common stock and 2.0 million shares of class B common stock outstanding.

The tables at the end of this press release include a reconciliation of income (loss) from operations to non-GAAP income (loss) from operations for the three and nine months ended September 30, 2015 and 2014. An explanation of this non-GAAP measure is also included under the heading Non-GAAP Financial Measure below.

Conference Call

MicroStrategy will be discussing its third quarter 2015 financial results on a conference call today beginning at approximately 6:00 p.m. EDT. To access the conference call, dial (844) 824-7425 (domestically) or (716) 220-9429 (internationally) and use conference ID 57551320. A live webcast and replay of the conference call will be available under the Events & Presentations section on MicroStrategys investor relations website at

http://ir.microstrategy.com/events.cfm

. The replay will be available beginning approximately two hours after the call concludes until October 31, 2015 at (855) 859-2056 (domestically) or (404) 537-3406 (internationally) using the passcode 57551320. An archived webcast will also be available under the Events & Presentations section on MicroStrategys investor relations website at

MicroStrategys Worldwide Symposium Series Sets Record Attendance

Throughout Q3 of 2015, MicroStrategys Worldwide Symposium Series events set record attendance on their tour around the globe, demonstrating that business and IT audiences have a keen interest in learning about the powerful capabilities of MicroStrategy 10 Secure Enterprise. MicroStrategy enthusiasts gathered for keynote presentations, hands-on enterprise data discovery workshops, and live Q&A and networking opportunities with innovators from MicroStrategys leading customers, partners, and sponsors.

More than 4,000 companies and organizations in the U.S., EMEA, and APAC rely on MicroStrategy to make sense of large data volumes, get answers in an instant, build stunning visualizations, and present a single version of the truth securely, at scale, and on all standard devices. MicroStrategys customers who presented at the 2015 Symposium Series included AGBAR; Ahold; AIG; Amadeus Travel; Caisse dEpargne; Carphone; Ceva Santé; Groupe BPCE; Hilton Worldwide; ING DIRECT España; Ipsen; Lottoland; McDonalds España; McDonalds UK; O2; Spar; Telefónica, S.A.; Weiler Corporation; and Zurich.

MicroStrategy 10.1 Delivers New Features and Enhancements that Bolster Performance for Enterprise Data Discovery, Analytics, and Mobile

In September, MicroStrategy announced the general availability of MicroStrategy 10.1. The release included hundreds of new and improved features and a wide range of performance enhancements across the product platform. Further extending the self-service capabilities of MicroStrategy 10 Secure Enterprise, MicroStrategy Desktop 10.1 and MicroStrategy Web 10.1 added new enhancements for enterprise data discovery users, enabling data preparation and data wrangling across more data sources, while delivering a clean, new look with modern grid styles, navigation, and consolidated views and search. Other highlights included new capabilities for D3 visualizations, ESRI geospatial visualizations, and iOS 9 within MicroStrategy Mobile and custom Mobile Productivity Apps. To learn more about MicroStrategy Analytics, visit:

http://www.microstrategy.com/us/platform/whats-new

The MicroStrategy 10.1 release came shortly after the release of MicroStrategy 10 Secure Enterprise, a groundbreaking enterprise analytics solution that combines traditional business...


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