MicroStrategy Incorporated (NASDAQ:MSTR) Q1 2023 Results Conference Call May 1, 2023 5:00 PM ET
Company Participants
Shirish Jajodia - Vice President of Investor Relations and Treasury
Phong Le - President & Chief Executive Officer
Andrew Kang - Senior Executive Vice President & Chief Financial Officer
Michael Saylor - Executive Chairman
Shirish Jajodia
Hello, everyone, and good evening. I'm Shirish Jajodia, Vice President of Investor Relations and Treasury at MicroStrategy. I will be your moderator for MicroStrategy's 2023 First Quarter Earnings Webinar.
Before we proceed, I will read the Safe Harbor statement. Some of the information we provide during today's call regarding our future expectations [Technical Difficulty].
Phong Le
Thank you, Shirish. Hello, everyone. I'd like to welcome you all to our 2023 first quarter earnings call. We're excited to be reporting live for MicroStrategy World 2023 in Orlando, Florida. We've had a successful day one of the event today, and we're excited to see our customers, partners and employees all in person for the first time since 2020 and share our passion for BI, bitcoin and innovation.
The business intelligence track tomorrow will feature MicroStrategy One and features keynotes, including how we are integrating augmented analytics, artificial intelligence to drive innovative experiences. We'll also showcase how some of the world's best brands use MicroStrategy to break through and achieve extraordinary results. This includes keynote presentations from Hilton, Sony and Amica Insurance.
The Bitcoin for Corporations track on Wednesday and Lightning for Corporations track on Thursday will feature keynotes from notable institutions and industry luminaries highlighting the advantages of integrating Bitcoin and Lightning as a part of their corporate treasury and product offerings. It will be a unique gathering of corporations looking to adopt Bitcoin and Lightning strategies, and we are very excited to host this event. The conference also includes workshops, training, dedicated networking opportunities and some fun too. For those of you attending the conference in Orlando, we look forward to seeing you in person.
Turning to our business results for Q1. We continue to see strong demand for MicroStrategy software, both on-premise and in the cloud with total revenue growing despite a continuing challenging macroeconomic environment. Total revenue was $121.9 million, representing an increase of 2% year-over-year or 6% on a constant currency basis.
Total software licenses revenues, which consists of total product licenses and subscription services revenue and our consolidated statement of operations were $36.2 million, representing an increase of 23% year-over-year or 29% on a constant currency basis.