Gemini Space Station Q1 Revenue Rises 42% to US$50.3M, Shares Climb 25% in Premarket Trading

According to CoinDesk, Gemini Space Station, the U.S. crypto exchange founded by the Winklevoss twins, reported first-quarter 2026 revenue rose 42% year-on-year to US$50.3 million, with shares climbing more than 25% in premarket trading.

The company posted a net loss of US$109 million, improved from US$149.3 million a year earlier, though wider than analyst estimates. Operating expenses climbed 73% to US$144.5 million, including US$6.5 million in severance from layoffs as Gemini exited the UK, EU, and Australia markets. The expense increases reflect the company's "Gemini 2.0" restructuring and receipt of U.S. regulatory approval in April for a derivatives clearing license.