Story perspectives

Gemini Space Station Posts Loss, 42% Revenue, Credit Card Surge

5/15/2026

Summary

Gemini Posts Loss

Gemini Space Station (GEMI) posted Q1 2026 earnings of a $0.93-per-share loss with $50.27 million revenue, up 42% YoY.
Services revenue and interest income rose 122% to $24.5 million, making up 49% of total revenue.
Credit card revenue jumped nearly 300% to $14.7 million as the Gemini Credit Card user base expanded.
Winklevoss Capital Fund invested $100 million for 7,142,857 Class A shares at $14 each, paying in bitcoin, and GEMI stock rose 25.10% to $6.58.

Summary

Gemini Settles

Gemini settled with the New York Department of Financial Services in 2024 over Gemini Earn compliance issues.
A New York class-action lawsuit claims Gemini misled investors about its post-IPO strategy, citing staff cuts, executive departures and an international pullback.
After cutting 25% of staff and losing its chief operating, financial and legal officers, Danijela Stojanovic became interim chief financial officer.
Cameron Winklevoss said expanding beyond pure crypto should smooth revenue.

History

Historical Context

Founded in 1898 as the Chicago Butter and Egg Board, the CME demutualized in 2000 and merged with the Chicago Board of Trade in 2007, becoming the world’s largest futures-open-interest exchange with its Globex platform. Leveraging that infrastructure, it launched the first regulated Bitcoin futures in December 2017, drawing $1 billion in open interest and attracting institutional players such as Gemini.

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Gemini Posts Loss

Gemini Space Station (GEMI) posted Q1 2026 earnings of a $0.93-per-share loss with $50.27 million revenue, up 42% YoY.
Services revenue and interest income rose 122% to $24.5 million, making up 49% of total revenue.
Credit card revenue jumped nearly 300% to $14.7 million as the Gemini Credit Card user base expanded.
Winklevoss Capital Fund invested $100 million for 7,142,857 Class A shares at $14 each, paying in bitcoin, and GEMI stock rose 25.10% to $6.58.

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