Filing Flows › Gemini Space Station (GEMI) › Q1 2026
Gemini Space Station (GEMI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Gemini Space Station (GEMI) reported revenue of $50.3M for the first quarter 2026 (Q1 2026), +42% from a year earlier and -17% from the quarter before. Operating margin was -187.4%, net loss $109M (216.8% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.3M | -17% | +42% |
| Operating profit | −$94.2M | — | — |
| Net earnings | −$109M | — | — |
| Operating cash flow | −$54.4M | — | — |
What changed
Revenue was $50.3M in Q1 2026, up 42% year over year and down 17% from the previous quarter. Services revenue was the largest line at 43% of revenue. Services revenue added $13.1M year over year (up 150%), 88% of the total change. Other transaction revenue declined 59%.
Operating costs exceeded revenue by $94.2M, an operating margin of -187.4%. Total costs grew 73% against revenue growth of 42%. The fastest-growing cost line was Sales & marketing (+111%). The quarter ended with a net loss of $109.0M, narrower than the previous quarter's $140.8M loss.
Operating cash flow was −$54.4M. Non-cash charges added back $7.5M of depreciation and amortization and $24.2M of share-based compensation. Working capital and other items added $22.9M. Capital expenditures of $127K exceeded it, leaving free cash flow of −$54.6M.
Questions
What was Gemini Space Station's revenue in the first quarter 2026?
Gemini Space Station (GEMI) reported revenue of $50.3M for the first quarter 2026 (Q1 2026), +42% from a year earlier and -17% from the quarter before.
Was Gemini Space Station profitable in the first quarter 2026?
Operating loss was $94.2M (-187.4% of revenue) and net loss $109M.