secwatch.observer — SEC 8-K summary
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Issuer:     Gemini Space Station, Inc. (GEMI)
CIK:        0002055592
Form:       8-K
Filed at:   2026-03-19T23:59:59+00:00
Accession:  0002055592-26-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2055592/000205559226000023/0002055592-26-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2055592/000205559226000023/gemi-20260319.htm
  HTML page:      https://secwatch.observer/filing/0002055592-26-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer