---
schema_version: "secwatch.filing_event.v1"
accession: "0002055592-25-000008"
form_type: "8-K"
ticker: "GEMI"
cik: "0002055592"
company_name: "Gemini Space Station, Inc."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:43:01.021425+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gemini Q3 net revenue $49.8M (+52% Q/Q); net loss $159.5M; trading volume $16.4B

## Summary
- Transaction revenue $26.3M (+26% Q/Q); services revenue $19.9M (+111% Q/Q) from card, staking, custody.
- Gemini Credit Card surpassed 100k accounts with $350M in transaction volume (102% Q/Q).
- Adjusted EBITDA loss of $52.4M; operating expenses $171.4M including $45.8M IPO-related stock comp.
- Established $150M credit facility for card receivables; repaid related-party crypto loans post-quarter.
- FY 2025 guidance: services revenue $60-70M; marketing $45-60M; tech/G&A $140-155M.

## SEC filing metadata
- accession: 0002055592-25-000008
- form_type: 8-K
- ticker: GEMI
- cik: 0002055592
- company_name: Gemini Space Station, Inc.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2055592/000205559225000008/0002055592-25-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2055592/000205559225000008/gemi-20251110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002055592-25-000008
- JSON: https://secwatch.observer/filing/0002055592-25-000008.json
- Plain text: https://secwatch.observer/filing/0002055592-25-000008.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.