Overview
- The company reported Q1 revenue of $124.3 million, up 11.9%, as cloud revenue rose 59% in what CEO Phong Le called the software unit’s best quarter in ten years.
- Le introduced Mosaic, an AI data foundation that links large language models, major cloud providers, and data warehouses into a single secure data layer.
- He said the company is rebuilding internal systems with AI and expects many core workflows to be automated over the next year.
- Management reported a 27% rise in controllable margin that helped pay Bitcoin operating costs, which Le presented as proof of software–Bitcoin synergies.
- The company also posted a $12.54 billion net loss for the quarter due to Bitcoin markdowns, keeping its treasury strategy under market and investor scrutiny.