Gemini Q1 FY26 net loss narrows to $109 million; revenue rises 42% to $50.27 million

Gemini Space Station, Inc. Class A

Gemini Space Station, Inc. Class A

GEMI

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  • Gemini Space Station posted Q1 revenue of USD 50.27 million, while net loss narrowed to USD 108.98 million from USD 149.26 million a year earlier.
  • Adjusted EBITDA loss narrowed to USD 59.93 million from USD 61.58 million.
  • Monthly transacting users rose 17% to 589,000, while trading volume fell to USD 6.3 billion from USD 13.5 billion.
  • Credit card revenue more than quadrupled to USD 14.7 million, while exchange revenue fell 27% to USD 17.17 million on a 28% drop in retail trading volume.
  • Completed USD 100 million private placement of Class A common stock with Winklevoss Capital Fund, with consideration paid in bitcoin.


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