Gemini Space Station Third-Quarter Revenue Falls 19 Percent to 40.9 Million Dollars: Net Loss Narrows 63 Percent to 58.6 Million Dollars as Operating Expenses Drop 30 Percent, Released November 12
Gemini Space Station, Inc., the crypto and markets company listed on Nasdaq as GEMI and not related to Google's Gemini AI products, announced on November 12, 2026, in New York in a GlobeNewswire release, its financial results for the quarter ended September 30, 2026. Total revenue was 40.9 million dollars, down 19 percent year over year from 50.6 million dollars. Exchange revenue declined 47 percent to 13.4 million dollars, as total trading volume on the platform fell to 4.5 billion dollars from 16.4 billion dollars in the prior-year period. Services revenue and interest income together were 23.3 million dollars, compared with 23.4 million dollars a year earlier, and represented 59 percent of net revenue.
The company said total operating expenses decreased 30 percent year over year to 119.9 million dollars from 171.4 million dollars, and declined for a third consecutive quarter, driven primarily by lower compensation costs and reduced marketing spend. Net loss improved 63 percent year over year to 58.6 million dollars from 159.5 million dollars, or 0.46 dollars per share. Operating loss was 79.0 million dollars, and adjusted operating loss narrowed 42 percent to 39.0 million dollars. Cash and cash equivalents totaled 194.1 million dollars at September 30, 2026, assets on platform were 13.4 billion dollars, and monthly transacting users were 577,000.
Chief executive Tyler Winklevoss said operating expenses declined for a third consecutive quarter and that the company intends to stay disciplined about where growth dollars go. President Cameron Winklevoss said the company started Gemini in 2014 because it believed crypto would change how people save, spend and move value, and described Gemini 2.0 as a bet that the platforms that last will own the regulated infrastructure underneath. Management will host a conference call on November 13, 2026, at 8:30 a.m. Eastern Time. This item reports only the published results and statements and is not investment advice.
Source: Gemini Space Station
Published by GSM · USA (original Chinese edition)
Photo: 位于纽约的纳斯达克 MarketSite，Gemini 在纳斯达克上市。／The Nasdaq MarketSite in New York; Gemini is listed on Nasdaq.（ajay_suresh，CC BY 2.0，Wikimedia Commons）
