Company: MSTR
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109950
Chunk: 28

Company: Strategy Inc
Filing Date: 2025-05-01
Form: 424B5
Chunk 28
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 company 
 under the Investment Company Act of 1940;                                                                       |

| • |     | we are not subject to legal and regulatory obligations that apply to investment companies such as mutual funds 
 and exchange-traded funds, or to obligations applicable to investment advisers.                                |

| • |     | our bitcoin strategy exposes us to risk of non-performance by 
 counterparties;                                               |

Risks Related to Our Enterprise Analytics Software Business Strategy

| • |     | we derive revenue from a single software platform and related services as well as revenue from our installed 
 customer base;                                                                                               |

| • |     | as our customers increasingly shift from a product license model to a cloud subscription model, we could face                                                          
 higher future rates of attrition, and such a shift could continue to affect the timing of revenue recognition or reduce product licenses and product support revenues; |

| • |     | our recognition of deferred revenue and advance payments is subject to future performance obligations and may not 
 be representative of revenues for succeeding periods;                                                             |

| • |     | integration of artificial intelligence into our enterprise analytics product offerings and our use of artificial                             
 intelligence in our operations could result in reputational or competitive harm, legal liability, and other adverse effects on our business; |

Risks Related to Our Technology and Intellectual Property

| • |     | third parties may claim we infringe their intellectual property rights; |

| • |     | the nature of our software makes it particularly susceptible to undetected errors, bugs, or security                                                                                   
 vulnerabilities, which could cause problems with how the software performs and, in turn, reduce demand for our software, reduce our revenue, and lead to litigation claims against us; |

Risks Related to Our Operations

| • |     | business disruptions, including interruptions, delays, or failures of our systems, third-party data center                                                                                                
 hosting facility, or other third-party services, as a result of geopolitical tensions, acts of terrorism, natural disasters, pandemics (like the COVID-19 pandemic), and similar events, could materially 
 adversely affect our operating results or result in a material weakness in our internal controls that could adversely affect the market price of our stock;                                               |

| • |     | we face a variety of risks in doing business with U.S. and foreign federal, state, and local governments and                                                                               
 government agencies, including risks related to the procurement process, budget constraints and cycles, termination of contracts, and compliance with government contracting requirements; |

| • |     | changes in laws or regulations relating to privacy