Quarterly ResultMay 14, 2026, 04:35 PM
Gemini Space Station Secures $100M Investment, DCO License; Q1 Revenue +42%
AI Summary
Gemini Space Station announced its Q1 2026 financial results, reporting a 42% year-over-year increase in total revenue to $50.3 million and a 27% improvement in net loss to $(109.0) million. The company also secured a $100 million strategic investment from Winklevoss Capital Fund, paid in bitcoin, and received a Derivatives Clearing Organization (DCO) license from the CFTC, marking a significant step towards building a full-stack marketplace for predictions and derivatives. These developments, alongside strong growth in services and credit card revenue, position Gemini for its next phase of growth.
Key Highlights
- Winklevoss Capital Fund made a $100 million strategic investment at $14 per share.
- Gemini received a Derivatives Clearing Organization (DCO) license from the CFTC in April 2026.
- Total revenue increased 42% year-over-year to $50.3 million in Q1 2026.
- Net loss improved 27% year-over-year to $(109.0) million.
- Adjusted EBITDA improved to $(59.9) million from $(61.6) million in Q1 2025.
- Services revenue and interest income increased 122% year-over-year to $24.5 million.
- Credit card revenue increased nearly 300% year-over-year to $14.7 million.
- Monthly Transacting Users (MTUs) were 589,000, up 17% year-over-year.