Gemini Space Station (GEMI) Operating Expenses (2024 - 2026)
Gemini Space Station (GEMI) posted Operating Expenses of $122.4 million for Q2 2026, down 15.26% on a QoQ basis from $144.5 million in Q1 2026, and up 24.0% year-over-year from $98.7 million in Q2 2025.
Analysis
Gemini Space Station (GEMI) Operating Expenses (2024 - 2026) Analysis & Trends
Gemini Space Station has reported Operating Expenses for 3 years, with the latest figure at $122.4 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 24.0% year-over-year to $122.4 million in Q2 2026; TTM through Jun 2026 was $610.0 million, a 84.33% increase from a year earlier, with the FY2025 full-year figure at $525.2 million, up 70.53% from the prior year.
- Operating Expenses was $122.4 million for Q2 2026 at Gemini Space Station, down from $144.5 million in the prior quarter.
- The five-year high for Operating Expenses was $171.7 million in Q4 2025, with the low at $72.0 million in Q4 2024.
- Average Operating Expenses over 3 years is $117.6 million, with a median of $110.6 million recorded in 2025.
- The sharpest annual moves came in 2025 and 2026: Operating Expenses jumped 138.4% in 2025, then grew 24.0% in 2026.
- Over 3 years, Operating Expenses stood at $72.0 million in 2024, then jumped by 138.4% to $171.7 million in 2025, then dropped by 28.72% to $122.4 million in 2026.
- The last three Operating Expenses figures came in at $122.4 million (Q2 2026), $144.5 million (Q1 2026), and $171.7 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Circle Internet | 21.16 Bn | 19.43 Bn | 288.85 Mn | 254.49 Mn |
| 2 | Galaxy Digital | 9.54 Bn | 8.88 Bn | 8.38 Bn | 8.84 Bn |
| 3 | Gemini Space Station | 573.86 Mn | 385.24 Mn | - | 122.42 Mn |
| 4 | Solana | 177.06 Mn | 173.41 Mn | 2.45 Mn | 35.12 Mn |
| 5 | Empery Digital | 85.45 Mn | 85.45 Mn | -68,184.00 | 42.00 Mn |
| 6 | Metalpha Technology Holding | 40.05 Mn | 36.11 Mn | - | - |
| 7 | Fold Holdings | 29.71 Mn | 1.31 Mn | 5.36 Mn | 13.86 Mn |
| 8 | Amber International Holding | 28.97 Mn | -4.44 Mn | 11.06 Mn | -10.03 Mn |
| 9 | Fabric.AI | 10.06 Mn | -11.61 Mn | - | 3.33 Mn |
| 10 | CEA Industries | 7.41 Mn | 324,022.19 | 1.96 Mn | 23.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 122.42 Mn |
| Mar 31, 2026 | 144.46 Mn |
| Dec 31, 2025 | 171.74 Mn |
| Sep 30, 2025 | 171.41 Mn |
| Jun 30, 2025 | 98.72 Mn |
| Mar 31, 2025 | 83.35 Mn |
| Dec 31, 2024 | 72.04 Mn |
| Sep 30, 2024 | 76.82 Mn |