Filing Flows › Gemini Space Station (GEMI) › Q1 2026 › vs Q1 2025
Gemini Space Station (GEMI) Q1 2026 vs Q1 2025 (year over year)
Gemini Space Station's revenue rose $14.9M (+42%) from $35.3M in Q1 2025 to $50.3M in Q1 2026. The biggest changes: Net revenue +$32.8M (+209%); Other revenue +$1.5M (+726%); Other transaction revenue −$274K (-59%).
Gemini Space Station, Q1 2026: revenue $50.3M (+42% year over year), operating margin -187.4%, net loss $109M, operating cash flow −$54.4M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Services revenue | $21.8M | $8.7M | $13.1M | +150% |
| Credit card revenue | $14.7M | $3.7M | $11.0M | +292% |
| OTC | $6.3M | $129K | $6.2M | 49× |
| Advisory fee revenue | $2.7M | $0 | $2.7M | — |
| Staking revenue | $2.1M | $3.1M | −$969K | -31% |
| Prediction markets revenue | $444K | $0 | $444K | — |
| Other services revenue | $400K | $0 | $400K | — |
| Net revenue | $48.5M | $15.7M | $32.8M | +209% |
| Other revenue | $1.7M | $205K | $1.5M | +726% |
| Other transaction revenue | $187K | $461K | −$274K | -59% |
| Revenue | $50.3M | $35.3M | $14.9M | +42% |
| Net loss | $109M | $149M | −$40.3M | -27% |
| Costs & expenses | $159M | $190M | −$30.3M | -16% |
| Operating costs | $144M | $83.3M | $61.1M | +73% |
| Interest & other, net | $14.8M | $106M | −$91.5M | -86% |
| Income tax | $21K | −$5.0M | $5.0M | — |
| Sales & marketing | $19.1M | $9.0M | $10.0M | +111% |
| General & admin | $21.7M | $14.0M | $7.7M | +55% |
| Other operating costs | $104M | $60.3M | $43.4M | +72% |
| Operating cash sources | $109M | $149M | −$40.3M | -27% |
| Depreciation & amortization | $7.5M | $7.9M | −$373K | -5% |
| Share-based compensation | $24.2M | $1.5M | $22.7M | 17× |
| Working capital & other | $22.9M | $122M | −$98.7M | -81% |
| Cash used in operations | $54.4M | $18.4M | $36.0M | +196% |
| Net loss absorbed | $109M | $149M | −$40.3M | -27% |
Questions
How much did Gemini Space Station's revenue grow year over year in Q1 2026?
Gemini Space Station's revenue rose $14.9M (+42%) from $35.3M in Q1 2025 to $50.3M in Q1 2026.
What drove Gemini Space Station's revenue change in Q1 2026?
Net revenue +$32.8M (+209%); Other revenue +$1.5M (+726%); Other transaction revenue −$274K (-59%).