---
schema_version: "secwatch.filing_event.v1"
accession: "0002055592-26-000023"
form_type: "8-K"
ticker: "GEMI"
cik: "0002055592"
company_name: "Gemini Space Station, Inc."
filed_at: "2026-03-19T23:59:59+00:00"
generated_at: "2026-05-15T09:44:37.189927+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gemini Space Station Q4 net revenue $56.4M, net loss $140.8M; plans US focus, 30% headcount reduction

## Summary
- Q4 net revenue $56.4M (+13% Q/Q); services revenue $26.5M (+33% Q/Q) driven by card and staking growth.
- Net loss of $140.8M and Adjusted EBITDA loss of $92.2M on operating expenses $171.7M.
- Full-year 2025 total revenue $179.6M (+26% YoY); services revenue $64.6M (+115% YoY).
- Received CFTC DCM license for prediction markets; launched spot margin trading in Jan 2026.
- Exiting UK, EU, Australia; cut workforce ~30% since Jan 2026; headcount ~445 as of March 1.

## SEC filing metadata
- accession: 0002055592-26-000023
- form_type: 8-K
- ticker: GEMI
- cik: 0002055592
- company_name: Gemini Space Station, Inc.
- filed_at: 2026-03-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2055592/000205559226000023/0002055592-26-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2055592/000205559226000023/gemi-20260319.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002055592-26-000023
- JSON: https://secwatch.observer/filing/0002055592-26-000023.json
- Plain text: https://secwatch.observer/filing/0002055592-26-000023.txt

## Key facts
- Earnings Releases
  Gemini Space Station, Inc. reported financial results for the three and twelve months ended December 31, 2025.
  - Period: the three and twelve months ended December 31, 2025
  - Result: reported results
  source text: On March 19, 2026, Gemini Space Station, Inc. (“Gemini,” the “Company,” “we,” or “us”) issued a shareholder letter (the “Shareholder Letter”) and supplemental materials (the “2025 Earnings Presentation”) announcing its financial results for the three and twelve months ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2055592/000205559226000023/0002055592-26-000023-index.htm

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