Strategy Reports $20.91 Billion in Q3 Operating Income as CFO Exit Nears

Strategy reported $20.91 billion in operating income for the third quarter as Chief Financial Officer Andrew Kang prepares to leave the role, pairing a sharp earnings increase with a scheduled leadership change.

The quarter ended Sept. 30. Strategy recorded a $20.91 billion gain on digital assets; both figures were $3.89 billion in the third quarter of 2025. Net income reached $19.53 billion, or $44.75 per diluted share, while revenue fell 3% to $125.4 million.

“Q3 operating income of $21 billion was the largest ever in Strategy’s history,” Kang said.

Kang’s departure takes effect Nov. 5. He will remain an adviser through Dec. 31, while CEO Phong Le serves as principal financial officer from Nov. 6 through year-end. Reza Virasteh becomes CFO and co-principal financial officer Jan. 1, 2027, alongside Le.

Strategy held 848,517 Bitcoin (BTC) as of Oct. 25, up 26% year to date.