NASDAQ · Financial Statements

Gemini Space Station, Inc. (GEMI) Financial Statements

$3.06 NASDAQ: GEMI Market Cap $373.87M

Gemini Space Station, Inc. most recently reported annual revenue of $146.0M, a net loss of $583.0M. Revenue grew at an average annual rate of 22.1% over the last 2 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Gemini Space Station, Inc.: Revenue rose from $98.0M in 2023 to $146.0M in 2025, a change of +49.0% over 2 years; net profit was positive in 0 of 3 reported years; operating margin moved from -317.5% to -358.6%, a shift of -41.1 percentage points; the most recent year shows a net loss of $583.0M.

Income Statement — 3 Years (USD millions)

Metric202320242025
Revenue$98.0M$142.0M$146.0M
Operating Expenses$410.0M$308.0M$670.0M
Operating Profit$-312.0M$-166.0M$-524.0M
Operating Margin-317.5%-116.6%-358.6%
Other Income$-12.0M$15.0M$-65.0M
Interest$0$0$70.0M
Depreciation$32.0M$33.0M$31.0M
Profit Before Tax$-324.0M$-151.0M$-589.0M
Tax$1.3M$-5.0M$1.0M
Net Profit$-320.0M$-159.0M$-583.0M
EPS$-2.03$-0.99$-4.97
Dividend Payout0.0%0.0%0.0%

Quarterly Results — Last 11 Quarters (USD millions)

MetricDec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$36.0M$37.0M$37.0M$34.0M$34.0M$34.0M$34.0M$51.0M$60.0M$39.0M$45.0M
Operating Expenses$168.0M$80.0M$80.0M$74.0M$74.0M$91.0M$91.0M$171.0M$205.0M$144.0M$122.0M
Operating Profit$-132.0M$-42.0M$-42.0M$-41.0M$-41.0M$-57.0M$-57.0M$-121.0M$-144.0M$-105.0M$-77.0M
Operating Margin-371.3%-114.1%-114.1%-119.4%-119.4%-165.4%-165.4%-238.6%-239.2%-266.9%-169.2%
Interest$0$0$0$0$0$0$0$23.0M$11.0M$8.0M$0
Profit Before Tax$-136.0M$-19.0M$-19.0M$-57.0M$-57.0M$-144.0M$-144.0M$-161.0M$-141.0M$-109.0M$-108.0M
Tax$-670,000$-10.6M$-10.6M$-3.2M$-3.2M$1.7M$1.7M$740,000$100,000$20,000$-20,000
Net Profit$-137.0M$-21.0M$-21.0M$-59.0M$-59.0M$-141.0M$-141.0M$-160.0M$-141.0M$-109.0M$-108.0M
EPS$-0.87$-0.13$-0.13$-0.36$-0.36$-0.88$-0.88$-1.15$-1.20$-0.93$-0.89

Over the 3 years reported for Gemini Space Station, Inc., borrowings decreased from $734.0M in 2023 to $661.0M in 2025, cash stood at $252.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.30 times.

Balance Sheet — 3 Years (USD millions)

Metric202320242025
Total Assets$1.2B$1.6B$1.8B
Current Assets$977.0M$1.4B$1.6B
Cash$64.0M$43.0M$252.0M
Inventory$0$0$0
Receivables$186.0M$62.0M$31.0M
Fixed Assets$37.0M$32.0M$34.0M
Capital Work in Progress$0$0$0
Investments$340.0M$11.0M$462.0M
Other Assets$0$0$0
Total Liabilities$1.3B$1.9B$1.3B
Current Liabilities$1.2B$1.3B$1.2B
Borrowings$734.0M$1.2B$661.0M
Other Liabilities$587.0M$664.0M$600.0M
Equity$0$0$0
Reserves$-110.0M$-261.0M$541.0M

For Gemini Space Station, Inc., operating cash flow was positive in 0 of 3 reported years; free cash flow in the latest year was negative at $226.0M; free cash flow was positive in 0 of 3 years; financing activities used $47.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 3 Years (USD millions)

Metric202320242025
Operating Cash Flow$-207.0M$-109.0M$-218.0M
Investing Cash Flow$26.0M$78.0M$-56.0M
Financing Cash Flow$-698.0M$191.0M$-47.0M
Net Cash Flow$-696.0M$200.0M$296.0M
Free Cash Flow$-214.0M$-115.0M$-226.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.02
EV / EBITDA-1.76
FCF Yield-54.57%
Quick Ratio2.61
Interest Coverage-10.85
Return 1Y—
Return 3Y—
Return 5Y—

Gemini Space Station, Inc. (GEMI) financials — frequently asked questions

What is Gemini Space Station, Inc.'s annual revenue?

Gemini Space Station, Inc. (GEMI) reported annual revenue of $146.0M in its most recent fiscal year.

What is Gemini Space Station, Inc.'s net profit?

Gemini Space Station, Inc. (GEMI) reported a net loss of $583.0M in its most recent fiscal year.

What is GEMI EV/EBITDA?

Gemini Space Station, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -1.76. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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