Gemini Q4 Revenue Lifts Shares Despite Weaker Crypto Markets

Shares in crypto exchange Gemini rose after hours following fourth-quarter results that beat expectations. Q4 revenues climbed 39% year over year to $60.3 million, topping analyst estimates of $51.7 million. The stock briefly jumped 14% to $6.83 before settling at $6.36, a 5.8% gain after closing the regular session near $6.

The revenue increase was driven by credit card adoption and a reworked fee structure, and represented the company’s highest quarterly revenue in three years despite declining trading volumes. Gemini reported a Q4 net loss of $140.8 million, widening from a $27 million loss a year earlier, and posted a total 2025 loss of $585 million versus $156.6 million in 2024.

Earlier moves this year included withdrawing from the UK, the EU and Australia and significant staff reductions. The company said it had reduced its workforce by roughly 30% since the start of 2026 and that AI is used in more than 40% of production code changes, a share it expects to climb toward 100%.

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