Gemini Shares Slip After First Earnings Report Since Nasdaq Debut

Gemini's stock declined in post-market trading following the release of its inaugural quarterly earnings report since its September Nasdaq IPO. Although net quarterly revenue increased by 52% to $49.8 million, driven by transaction and services revenue growth, the company posted a substantial net loss of $159.5 million, compared to a $90.2 million loss the prior year. This widening loss was attributed to operating expenses more than doubling to $171.4 million, largely due to increased salaries, compensation, and marketing investments associated with its transition to a public company. The loss per share was $6.67, missing analyst estimates. While the company saw gains on digital assets, it also recorded losses on related-party crypto loans. This performance contrasts with competitors like Coinbase, whose stock rose after reporting a profit, leaving investors focused on whether Gemini can pivot from growth spending to profitability.

(Source：BeInCrypto)