Filing Flows › Gemini Space Station (GEMI) › Q4 2025
Gemini Space Station (GEMI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Gemini Space Station (GEMI) reported revenue of $60.3M for the fourth quarter 2025 (Q4 2025), +39% from a year earlier and +19% from the quarter before. Operating margin was -184.6%, net loss $141M (233.4% of revenue).
Gemini Space Station, Q4 2025: revenue $60.3M (+39% year over year), operating margin -184.6%, net loss $141M, operating cash flow −$138M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $60.3M | +19% | +39% |
| Operating profit | −$111M | — | — |
| Net earnings | −$141M | — | — |
| Operating cash flow | −$138M | — | — |
What changed
Revenue was $60.3M in Q4 2025, up 39% year over year and up 19% from the previous quarter. Services revenue was the largest line at 44% of revenue.
Operating costs exceeded revenue by $111.4M, an operating margin of -184.6%. Total costs grew 138% against revenue growth of 39%. The fastest-growing cost line was General & admin (+282%). The quarter ended with a net loss of $140.8M, narrower than the previous quarter's $159.5M loss.
Operating cash flow was −$137.9M. Non-cash charges added back $7.5M of depreciation and amortization and $36.0M of share-based compensation. Working capital and other items used $40.6M. Capital expenditures of $473K exceeded it, leaving free cash flow of −$138.4M.
Questions
What was Gemini Space Station's revenue in the fourth quarter 2025?
Gemini Space Station (GEMI) reported revenue of $60.3M for the fourth quarter 2025 (Q4 2025), +39% from a year earlier and +19% from the quarter before.
Was Gemini Space Station profitable in the fourth quarter 2025?
Operating loss was $111M (-184.6% of revenue) and net loss $141M.