What is the market's earnings forecast for Gemini Space Station next quarter?

What does Gemini Space Station do and what are its main business segments?

What guidance did Gemini Space Station's management provide for the next earnings period?

What is the revenue and EPS growth rate for Gemini Space Station year over year?

What is Gemini Space Station's latest dividend and current dividend yield?

What were the key takeaways from Gemini Space Station's earnings call?

What is Gemini Space Station's gross profit margin?

What were the key takeaways from Gemini Space Station’s earnings call?

- **Revenue Growth**: 52% QoQ to $49.8M, driven by $16.4B trading volumes (+45% QoQ) and $8.5M credit card revenue (+140% QoQ).
- **Global Expansion**: MiCA licensing in Europe, AUSTRAC registration in Australia, and 100,000+ credit card accounts processing $350M in Q3.
- **Product Innovation**: Launching self-custody wallets, tokenized equities, and prediction markets with CFTC approval pending.
- **Efficiency**: 75% cardholders active, 55% of new users converting to exchange traders, and 12-month CAC payback period.


**【Management Opening Remarks】**
- Gemini reported its first quarter as a public company with record trading volumes of $16.4 billion, a 45% quarter-over-quarter increase, driven by institutional activity (+49%) and retail engagement (+20%).
- The Gemini Credit Card reached 100,000+ active accounts, processing $350 million in transaction volume (up 100% QoQ), with 55% of new users originating through the card onboarding process.
- Global expansion included MiCA licensing in Europe, AUSTRAC registration in Australia, and a Singapore Monetary Authority in-principle approval, enabling regulated crypto services across 30+ countries.

**【CEO & CFO Financial Overview】**
- Net revenue: $49.8 million (+52% QoQ), with transaction revenue ($26.3M, +26% QoQ) and services revenue ($19.9M, +100% QoQ) diversifying the business model.
- Credit card revenue: $8.5 million (+140% QoQ), staking balances: $741 million, and custody assets under management: $150.6 million in receivables.
- Operating expenses: $171.4 million (+72% QoQ) due to IPO-related stock compensation and marketing investments, offset by improved capital efficiency through a $150M credit facility for card receivables.

**【Q&A Key Highlights】**
- **Product Roadmap**: Launching a self-custody wallet, tokenized equities in Europe, and prediction markets pending CFTC approval.
- **Credit Card Strategy**: No annual fee, 55% of new users convert to active exchange traders, with plans for small business and co-branded cards.
- **Fraud Mitigation**: Losses at historical lows due to disciplined underwriting and AI-driven fraud detection.
- **Institutional Growth**: Competitive fee structure and API partnerships (e.g., Nasdaq) driving 49% QoQ institutional trading growth.
- **Unit Economics**: CAC payback period within 12 months, with 75% of cardholders active at quarter-end.


Gemini Space Station, Inc. (GEMI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

GEMI

GEMI fundamentals

You can ask Aime