Gemini Space Station, Inc. (GEMI)
Gemini Space Station, Inc. operates a cryptocurrency platform in the United States and internationally. The company offers Gemini, a platform that enables users to trade, custody, and earn in a range of digital assets and offerings; Gemini ActiveTrader for advanced charting, multiple order types, and the ability to monitor and execute in multiple markets; and Gemini Derivatives to trade perpetual contracts with cross-collateralization for risk and capital management. It also provides Gemini Prediction for trading event contracts; custody solutions; and Gemini Credit Card for users to earn crypto rewards. The company serves institutional investors, including asset managers, hedge funds, proprietary trading firms, and corporations, as well as individual retail users. Gemini Space Station, Inc. was founded in 2014 and is based in New York, New York.
Sector: Finance Services
Industry: Financial - Capital Markets
Gemini Space Station, Inc.
NASDAQ:GEMIFinancial Services · Financial - Capital Markets
-3.47%$3.06
AH Close$3.08+0.82%vs close
AH Close$3.08+0.82%vs close
Mkt Cap$396.74M
Float49.12M
O/S129.65M
Inst Own14.4%
SI24.5%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$146.17M
Net Income-$582.81M
Total Assets$1.8B
Free Cash Flow-$225.86M
Debt & Equity
Debt 55%
Equity 45%
Total Debt$660.83M
Total Equity$540.87M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:100.6Reverse splitJun 2, 2008100.6 shares → 1
Balance Sheet Details
Assets$1.8B
Liabilities$1.26B
Accounts Receivable$30.89M
Accounts Payable$2.65M
Inventory$0
PP&E (Net)$33.64M
Goodwill$0
Intangible Assets$139.81M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Revenue | $146.17M | $142.16M | $98.14M |
| YoY Growth | 2.8% | 44.9% | - |
| Cost of Revenue | $61.45M | $130.49M | $140.76M |
| Gross Profit | $84.72M | $11.68M | -$42.62M |
| Gross Margin | 58.0% | 8.2% | -43.4% |
| Research and Development | $0 | $63.66M | $55.04M |
| Selling, General, and Administrative | $174.6M | $132.73M | $204.15M |
| Other | $434.28M | -$18.89M | $9.79M |
| Total Operating Expenses | $608.88M | $177.5M | $268.98M |
| Operating Income (EBIT) | -$524.16M | -$165.82M | -$311.6M |
| Operating Margin | -358.6% | -116.6% | -317.5% |
| Interest Expense | $70.33M | $0 | $0 |
| Interest Income | $179.57M | $0 | $0 |
| Other Income (Expense) | -$64.64M | $14.9M | -$12.15M |
| Income Before Tax (EBT) | -$588.8M | -$150.92M | -$323.75M |
| Income Tax Expense | -$5.99M | $7.63M | -$4.07M |
| Net Income | -$582.81M | -$158.55M | -$319.68M |
| Net Income Margin | -398.7% | -111.5% | -325.7% |
| Supplementary Data | |||
| EPS | -4.97 | -0.99 | -2.03 |
| Diluted EPS | -4.97 | -0.99 | -2.03 |
| Weighted Average OS | 117.17M | 160.80M | 157.77M |
| EBITDA | -$487.74M | -$132.49M | -$257.97M |
| EBITDA Margin | -333.7% | -93.2% | -262.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Assets | |||
| Current Assets | |||
| Cash and Cash Equivalents | $252.22M | $42.85M | $63.6M |
| Short-Term Investments | $452.47M | $0 | $327.87M |
| Cash and Short-Term Investments | $704.68M | $42.85M | $391.47M |
| Accounts Receivable | $30.89M | $61.56M | $185.93M |
| Inventory | $0 | $0 | $0 |
| Other Current Assets | $852.01M | $1.28B | $399.3M |
| Total Current Assets | $1.61B | $1.39B | $976.7M |
| Long-Term Assets | |||
| Property, Plant & Equipment Net | $33.64M | $31.66M | $37.33M |
| Goodwill | $0 | $0 | $0 |
| Intangible Assets | $139.81M | $162.14M | $184.97M |
| Long-Term Investments | $9.43M | $10.64M | $11.71M |
| Deferred Tax Assets | $0 | $0 | $0 |
| Other Long-Term Assets | $12.72M | $1.72M | $309K |
| Total Long-Term Assets | $195.6M | $206.17M | $234.31M |
| Other Assets | $0 | $0 | $0 |
| Total Assets | $1.8B | $1.59B | $1.21B |
| Liabilities | |||
| Current Liabilities | |||
| Accounts Payable | $2.65M | $17.57M | $12.48M |
| Short-Term Debt | $633.46M | $679.77M | $571.55M |
| Current Income Tax Payable | $0 | $0 | $0 |
| Current Unearned Revenue | $6.03M | $0 | $0 |
| Other Current Liabilities | $1.33M | $611.98M | $189.86M |
| Total Current Liabilities | $1.24B | $1.35B | $1.16B |
| Long-Term Liabilities | |||
| Long-Term Debt | $0 | $485.99M | $134.93M |
| Long-Term Unearned Revenue | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 |
| Total Long-Term Liabilities | $20.57M | $506.14M | $157.94M |
| Other Liabilities | $0 | $0 | $0 |
| Total Liabilities | $1.26B | $1.85B | $1.32B |
| Stockholders' Equity | |||
| Preferred Stock | $0 | $534.37M | $534.37M |
| Common Stock | $118K | $0 | $0 |
| Retained Earnings | -$2.04B | -$1.46B | -$1.3B |
| Comprehensive Income & Other | $887K | $2.99M | $1.1M |
| Other Stockholders' Equity | $2.58B | $1.2B | $1.19B |
| Total Equity | $540.87M | -$260.99M | -$109.94M |
| Minority Interest | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.8B | $1.59B | $1.21B |
| Supplementary Data | |||
| Total Debt | $660.83M | $1.19B | $733.83M |
| Net Debt | $408.62M | $1.15B | $670.22M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Operating Activities | |||
| Net Income | -$582.81M | -$158.55M | -$319.68M |
| Depreciation & Amortization | $30.72M | $32.96M | $32.22M |
| Deferred Income Tax | $0 | $0 | $0 |
| Stock-Based Compensation | $84.96M | $5.6M | $15.84M |
| Changes in Working Capital: | |||
| Accounts Receivable | -$6.88M | -$249K | -$27.64M |
| Inventory | $0 | $0 | $0 |
| Accounts Payable | $2.83M | -$143.76M | $67.2M |
| Other Working Capital | $26.55M | $63.17M | -$11.9M |
| Total Working Capital Change | $22.5M | -$80.84M | $27.66M |
| Other Non-Cash Items | $226.44M | $91.87M | $36.66M |
| Net Cash from Operating | -$218.19M | -$108.96M | -$207.29M |
| Investing Activities | |||
| Capital Expenditures | -$7.66M | -$5.98M | -$6.94M |
| Acquisitions | $122.56M | $0 | $0 |
| Purchases of Investments | $0 | -$350K | -$101K |
| Sales of Investments | $0 | $0 | $400K |
| Other Investing Activities | -$162.84M | $89.94M | $39.85M |
| Net Cash from Investing | -$47.93M | $83.61M | $33.22M |
| Financing Activities | |||
| Debt Repaid | -$169.22M | -$24.57M | -$70.43M |
| Common Stock Issuance | $441.17M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 |
| Other Financing Activities | -$46.76M | $190.81M | -$698.37M |
| Net Cash from Financing | $521.37M | $225.38M | -$521.44M |
| Forex Effect | $41.02M | $0 | $0 |
| Net Change in Cash | $296.26M | $200.03M | -$695.51M |
| Supplementary Data | |||
| Operating Cash Flow | -$218.19M | -$108.96M | -$207.29M |
| Capital Expenditure | -$7.66M | -$5.98M | -$6.94M |
| Free Cash Flow | -$225.86M | -$114.94M | -$214.23M |
| Cash at Beginning | $71.23M | $446.83M | $1.14B |
| Cash at End | $367.49M | $646.86M | $446.83M |