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Strategy Inc. MSTR is witnessing strong growth in its cloud subscription business as customers increasingly migrate from traditional on-premises software licenses to cloud-based services. However, declining product license and support revenues continue to weigh on overall software performance, raising questions about the pace of recovery. In the third quarter of 2026, subscription services revenues surged 49.2% year over year to $68.6 million, accounting for nearly 55% of total software revenues. However, overall software revenues declined 2.6% to $125.4 million. Product license revenues plunged 77.9% to $3.8 million, while product support revenues fell 26.3% to $37.7 million.
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