Gemini stock declines after hours as first post-IPO earnings show increasing costs

In its first earnings report as a public company, Gemini disclosed a Q3 net loss of 159.5 million USD. The firm highlighted significant operational expenses and a stock-based compensation rise, resulting in an adjusted loss of 1.81 USD per share.

Despite losses, Gemini showcased a robust user acquisition quarter, with transaction revenue increasing by 26% to 26.3 million USD and services revenue more than doubling to 19.9 million USD.