Gemini Space Station (GEMI) Operating Expenses (2024 - 2026)

Gemini Space Station (GEMI) recorded quarterly Operating Expenses of $144.5 million in Q1 2026, down 15.89% quarter-over-quarter from $171.7 million in Q4 2025, and up 73.32% on a YoY basis from $83.3 million in Q1 2025.

Gemini Space Station (GEMI) Operating Expenses (2024 - 2026) Analysis & Trends

Gemini Space Station's Operating Expenses history runs 3 years deep, the most recent figure standing at $144.5 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 73.32% year-over-year to $144.5 million; the TTM figure through Mar 2026 stood at $571.0 million (up 145.88% YoY), while the FY2025 annual figure was $525.2 million, up 70.53% from the prior year.
  • Operating Expenses was $144.5 million for Q1 2026 at Gemini Space Station, down from $171.7 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $171.7 million in Q4 2025 to a low of $72.0 million in Q4 2024.
  • Historically, Operating Expenses has averaged $120.0 million across 3 years, with a median of $113.9 million in 2025.
  • The sharpest annual moves came in 2025 and 2026: Operating Expenses soared 138.4% in 2025, then jumped 73.32% in 2026.
  • A 3-year view of Operating Expenses shows it stood at $72.0 million in 2024, then soared by 138.4% to $171.7 million in 2025, then dropped by 15.89% to $144.5 million in 2026.
  • The last three Operating Expenses figures came in at $144.5 million (Q1 2026), $171.7 million (Q4 2025), and $171.4 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 94,425.84 Bn 94,425.84 Bn - 386,258.80
2 Morgan Stanley 349.82 Bn 216.29 Bn - 13.47 Bn
3 Goldman Sachs 333.85 Bn -603.70 Bn - 10.43 Bn
4 Schwab Charles 160.31 Bn 115.33 Bn - 3.29 Bn
5 Robinhood Markets 97.28 Bn 92.64 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 42.79 Bn 53.38 Bn - 381.00 Mn
7 LPL Financial Holdings 23.54 Bn 22.51 Bn - 4.45 Bn
8 Tradeweb Markets 21.20 Bn 19.96 Bn - 330.51 Mn
9 Iren 19.97 Bn 17.75 Bn 144.76 Mn 81.75 Mn
10 Gemini Space Station 550.27 Mn 334.64 Mn 31.20 Mn 144.46 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 144.46 Mn
Dec 31, 2025 171.74 Mn
Sep 30, 2025 171.41 Mn
Mar 31, 2025 83.35 Mn
Dec 31, 2024 72.04 Mn
Sep 30, 2024 76.82 Mn