Gemini Space Station, Inc.
GEMI · Price history
Price at last available close
$3.08
−$2.08 (-40.31%) 1M
2026-10-29
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Company & revenue
About Gemini Space Station, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Gemini Space Station, Inc. operates a cryptocurrency platform in the United States and internationally. The company offers Gemini, a platform that enables users to trade, custody, and earn in a range of digital assets and offerings; Gemini ActiveTrader for advanced charting, multiple order types, and the ability to monitor and execute in multiple markets; and Gemini Derivatives to trade perpetual contracts with cross-collateralization for risk and capital management. It also provides Gemini Prediction for trading event contracts; custody solutions; and Gemini Credit Card for users to earn crypto rewards.
How they make money
Gemini Space Station, Inc. operates a digital asset exchange platform that generates revenue primarily through transaction fees charged on spot and derivatives trading. Additionally, the company earns income from custody services, staking rewards, and the issuance and management of its proprietary stablecoin, GUSD.
Products & services
The company provides spot and derivatives trading, institutional-grade digital asset custody, staking services, an over-the-counter (OTC) trading desk, a regulated stablecoin (GUSD), a U.S. credit card, and a prediction markets platform.
Brands & revenue mix
Primary brand for the digital asset exchange and custody platform.
Separate brand revenue is not available in this research.Source
Proprietary stablecoin regulated by the NYDFS.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Fiat banking institutions — Unnamed financial institutions providing fiat banking rails for platform operations.Source
Strengths
Sources
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
30
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
46
Weak
Financial Strength
24
Business Quality / Moat
100
Management
0
Growth Quality
91
Risk / Durability
0
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
41
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
53/100
Building Historical Record
Model Score 53/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
- •Asset quality scores strongly
- •Elevated debt risk
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for GEMI
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can GEMI maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can GEMI fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •Does GEMI's balance between cash and debt leave enough flexibility if business conditions weaken?
- •What specifically needs to improve for GEMI to reach sustainable profitability?
- •What future growth or profitability would be needed to justify GEMI's current valuation?
Essential Investment Snapshot
Wall Street Score
30
Opportunity Score
41
Market Cap
$376.3M
P/E Ratio
-1.2
EPS
$-4.17
52-Week High
$26.75
52-Week Low
$3.38
Beta
2.71
Analyst Target
$5.50
Shares Outstanding
117.2M
Total Revenue
$195.8M
Total Debt
$520.8M
Dividend
No current dividend
Liquidation Value / Share
$4.00
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
Elevated movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for GEMI
Detected from reported data — verify before acting.Elevated debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative
Community Sentiment
0 active · 0 total callsNo personal call yet on GEMI.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Regulatory compliance and licensing in the United States.
- +Institutional-grade custody infrastructure.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Free cash flow is negative.
- −Regulatory and legal risks associated with digital asset operations.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
29
Sep 24, 2026
Change
+0.2
points
Current Score
30
Oct 1, 2026
Category Changes
GEMI increased 0.2 points because overall fundamentals improved.
Projected Score
Projected Score
37
Projected Change
+7.6 points
Preliminary comparable-period financial changes suggest improvement of approximately 7.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$3.08
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $195.8M | $146.2M | $142.2M | $98.1M |
| Cost of Revenue | $132.9M | $61.4M | $130.5M | $140.8M |
| Gross Profit | $30.0M | $84.7M | $11.7M | -$42.6M |
| Research & Development | $22.3M | $0.00 | $63.7M | $55.0M |
| SG&A Expenses | $177.5M | $174.6M | $132.7M | $204.1M |
| Operating Expenses | $477.2M | $608.9M | $177.5M | $269.0M |
| EBITDA | -$454.2M | -$487.7M | -$132.5M | -$258.0M |
| Operating Income | -$447.1M | -$524.2M | -$165.8M | -$311.6M |
| Interest Expense | $41.2M | $70.3M | $0.00 | $0.00 |
| Income Before Tax | -$518.0M | -$588.8M | -$150.9M | -$323.7M |
| Income Tax Expense | -$1.3M | -$6.0M | $7.6M | -$4.1M |
| Net Income | -$517.0M | -$582.8M | -$158.5M | -$319.7M |
| Basic EPS | $-4.17 | $-4.97 | $-0.99 | $-2.03 |
| Basic Shares | 121M | 117M | 161M | 158M |
| Diluted Shares | 121M | 117M | 161M | 158M |
Earnings Summary
Revenue
$45.5M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.89
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-66.4%
Cash Change
+472.2%
Margin Change
+174.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
- Debt reduced
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 32.6%. EPS increased 1.1%. Cash increased 472.2%. Total debt declined 66.4%. Net income margin improved by 174.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
23
Smart Money
23
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Gemini To Announce Third Quarter 2026 Results on November 12, 2026
Gemini (GEMI) Surges 31.2%: Is This an Indication of Further Gains?
Why Gemini Space Station Stock Jumped 31.2% Today
Rumor Mill · GEMI
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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