Gemini Shares Fall After $107.7M Q2 Loss Despite Revenue Growth
Gemini shares fell more than 7% after hours after the crypto exchange reported a $107.7 million net loss for the second quarter, despite total revenue rising 37% year over year to $45.5 million.
The loss narrowed from $133.2 million a year earlier as Gemini cut operating expenses and diversified beyond crypto trading.
Credit card revenue surged 231% to $16.2 million, while staking revenue rose 50% to $4 million. By contrast, exchange revenue dropped 38% to $12.5 million as trading volume fell to $3.8 billion from $11.3 billion.
Gemini’s prediction market business also expanded rapidly, with event-contract volume up 93% quarter over quarter and cumulative contracts traded surpassing 225 million, though quarterly revenue from the segment remained modest at $500,000.
The company is increasingly positioning itself as a broader financial platform, adding prediction markets, derivatives infrastructure and commission-free U.S. stock trading as activity on its core crypto exchange weakens.
Gemini shares fell more than 7% after hours after the crypto exchange reported a $107.7 million net loss for the second quarter, despite total revenue rising 37% year over year to $45.5 million.
The loss narrowed from $133.2 million a year earlier as Gemini cut operating expenses and diversified beyond crypto trading.
Credit card revenue surged 231% to $16.2 million, while staking revenue rose 50% to $4 million. By contrast, exchange revenue dropped 38% to $12.5 million as trading volume fell to $3.8 billion from $11.3 billion.
Gemini’s prediction market business also expanded rapidly, with event-contract volume up 93% quarter over quarter and cumulative contracts traded surpassing 225 million, though quarterly revenue from the segment remained modest at $500,000.
The company is increasingly positioning itself as a broader financial platform, adding prediction markets, derivatives infrastructure and commission-free U.S. stock trading as activity on its core crypto exchange weakens.