Gemini Space Station, Inc. Class A (GEMI)

NASDAQ:GEMI

GEMI

Gemini Space Station, Inc. Class A

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Gemini Space Station, Inc. Class A (GEMI) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Nov 16, 2026

After Close (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

―

Last Year’s EPS

-6.67

Same Quarter Last Year

Analyst Consensus

Hold

Based on 8 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 14, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call reflects a strategically positive trajectory: strong top-line growth (42% YoY), meaningful diversification of revenue (services/interest now 49% of revenue), regulatory and product milestones (DCM/DCO licenses, agentic trading, predictions marketplace), and a $100M founder investment that bolsters liquidity. However, the company faces significant near-term challenges including a large net loss ($109M), steep operating expense growth (+73% YoY), a 53% drop in spot trading volume driving a 27% decline in exchange revenue, decreased staking revenue (-31%), and a discrete fraud-related provision. Overall, the strategic progress and revenue diversification are notable positives, but high expenses and continued unprofitability are important risks.

Company Guidance

The call’s guidance emphasized building an end-to-end markets platform while highlighting current operating metrics: Q1 revenue grew 42% year-over-year to $50.3M (services and interest now 49% of total, up from 31% in Q1 2025), exchange revenue was $17.2M (down 27%) as spot volume fell 53% to $6.3B, OTC was $6.3M and prediction markets contributed $0.4M in their first full quarter; monthly transacting users rose 17% to 589k. Management reiterated strategic wins—DCM and DCO licenses (each noted as worth north of $100M in the market) enabling in‑house perpetuals/futures and a new agentic trading API—and product traction in predictions (3.4% of users have traded, volume +78% month‑over‑month in April, ~$30M notional last month and >$20M month‑to‑date, ~50% crypto contracts). They also stressed balance‑sheet and cost actions: $144.5M operating expenses (up 73%), $24.2M stock‑based comp, $6.5M severance from a 30% headcount reduction, net loss of $109M (improved 27%), adjusted EBITDA loss $59.9M, liquidity $215.6M plus a $100M founder investment at $14/share funded in BTC. Other metrics cited include a 3.8% card delinquency rate, an $8.6M provision for credit losses (including a $4.1M discrete fraud charge), pre‑provision net revenue of $3.8M (up 150% YoY), staking revenue down 31% but redemption times cut from 50 to 8 days—together forming the operational and product roadmap the company said positions it for growth (including future stocks products) as regulatory clarity evolves.

Revenue Growth

Total revenue grew 42% year-over-year to $50.3 million in Q1 2026, driven by credit card, OTC business, and the first full quarter contribution from prediction markets.

Diversification of Revenue Mix

Services revenue and interest income increased to 49% of total revenue, up from 31% in Q1 2025, indicating meaningful diversification away from pure exchange trading revenue.

User Growth

Monthly transacting users reached 589,000, up 17% year-over-year, showing expanding engagement despite weak market conditions.

Regulatory Milestones (DCM + DCO)

Received a Derivatives Clearing Organization (DCO) license from the CFTC in April (following a DCM license in late 2025), enabling an end-to-end in-house marketplace for derivatives, event-based contracts, and future/perpetual products.

Predictions Marketplace Early Traction

Prediction markets produced $0.4 million in revenue in their first full quarter, with volume up 78% month-over-month in April; approximately $30 million in notional traded last month and ~ $20 million month-to-date, and 3.4% of the user base has placed a trade.

Founder Strategic Investment Bolstering Liquidity

Founders made a $100 million strategic investment at $14/share funded in Bitcoin; company ended the quarter with $215.6 million in liquidity, further bolstered by the $100 million investment.

Product Innovation — Agentic Trading Tool

Launched the first agentic trading tool on a regulated U.S. exchange, enabling AI agents to connect to Gemini's API and place trades autonomously, positioning the firm for machine-driven customers.

Credit Card Performance and Pre-Provision Revenue

Pre-provision net revenue from credit operations reached a new high of $3.8 million, up 150% year-over-year; the portfolio delinquency rate reported at 3.8%, stated as in line with expectations.

Gemini Space Station, Inc. Class A (GEMI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GEMI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 16, 2026	2026 (Q3)	- / -	-6.67	―	―	―
May 14, 2026	2026 (Q1)	-1.03 / -0.93	-1.275	27.06% (+0.34)
Mar 19, 2026	2025 (Q4)	-1.04 / -1.22	-0.231	-428.14% (-0.99)
Nov 10, 2025	2025 (Q3)	-0.77 / -6.67	-0.77	-766.23% (-5.90)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GEMI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 14, 2026	$5.26	$5.58	+6.08%
Mar 19, 2026	$6.01	$5.97	-0.67%
Nov 10, 2025	$16.84	$14.07	-16.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Gemini Space Station, Inc. Class A (GEMI) report earnings?

Gemini Space Station, Inc. Class A (GEMI) is schdueled to report earning on Nov 16, 2026, After Close (Confirmed).

What is Gemini Space Station, Inc. Class A (GEMI) earnings time?

Gemini Space Station, Inc. Class A (GEMI) earnings time is at Nov 16, 2026, After Close (Confirmed).

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