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Gemini's stock rose 6% in after-hours trading following the release of its fourth-quarter earnings report.
Svmuu News: Shares of cryptocurrency exchange Gemini rose in after-hours trading following stronger-than-expected fourth-quarter results, which showed that credit card adoption and a revised fee structure drove revenue growth. Gemini reported on Thursday that its fourth-quarter revenue rose 39% year-over-year to $60.3 million, exceeding analysts’ expectations of $51.7 million. The company reported a net loss of $140.8 million for the fourth quarter, a significant widening from the $27 million loss in the same period last year. Gemini expects a full-year loss of $585 million for 2025, up from the projected full-year loss of $156.6 million for 2024. In a letter to shareholders, Gemini co-founders Cameron and Tyler Winklevoss stated that despite the decline in trading volume, the fourth quarter still marked the company’s highest quarterly revenue in three years, with the revenue growth reflecting “a carefully crafted fee structure in the second half of the year.” Gemini (GEMI) shares rose as much as 14% in after-hours trading on Thursday, hitting a high of $6.83, but ultimately closed at $6.36, up 5.8%, while the stock ended the day largely unchanged at around $6. (CoinDesk)
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