secwatch.observer — SEC 8-K summary
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Issuer:     Gemini Space Station, Inc. (GEMI)
CIK:        0002055592
Form:       8-K
Filed at:   2026-08-13T20:31:23+00:00
Accession:  0002055592-26-000063
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2055592/000205559226000063/0002055592-26-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2055592/000205559226000063/gemi-20260813.htm
  HTML page:      https://secwatch.observer/filing/0002055592-26-000063

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