MicroStrategy, Stung by Crypto Collapse, Shuns Early Disclosures

Crypto’s nosedive is expected to shred the balance sheet of MicroStrategy Inc., the enterprise software maker that bet big on Bitcoin and whose stock price rides the same rollercoaster as the digital currency.

Investors won’t know the extent of the impact until later this summer, when the company holds its earnings call and publishes its second-quarter 10-Q.

“Typically we do it in the Q,” a MicroStrategy investor relations liaison said. “We will continue that practice.”

Technically speaking, Wall Street regulators require companies to flag big losses—even those on paper—much earlier. Post-Enron rules call on companies to identify material impairments