Gemini Q2 revenue up 37% to $45.5M; net loss $107.7M, EPS -$0.89

Gemini Space Station, Inc.

Total revenue $45.5M, up 37% YoY; services revenue up 149% to $23.5M, exchange revenue down 38% to $12.5M.
Net loss $107.7M (EPS -$0.89) vs $133.2M loss in Q2 2025; adjusted EBITDA -$74.0M.
Transaction losses jumped to $20.1M from $3.6M on $16.1M credit loss provision from identity fraud event.
Launched commission-free stock trading July 7; derivatives clearinghouse live Aug 4; Predictions record volumes.
Cash $188.6M; Assets on Platform $8.4B vs $18.2B a year ago; MTU up 11% to 580k.

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