Gemini's revenue rose 26% to $179.6 million in fiscal 2025, driven by $60.3 million in fourth-quarter revenue, while net losses widened to $582.8 million from $158.5 million a year earlier. Operating expenses climbed to $525.2 million as the company expanded its product offerings and marketing efforts.

In early 2026, Gemini launched a strategic restructuring that includes a 30% reduction in its global workforce and the wind-down of operations in the UK, EU and Australia. One-time restructuring costs will pressure Q2 results, with management expecting lower operating cash losses in the second half of Q2 2026.

Services and interest revenue surged 115%, now accounting for 44% of net revenue versus 30% a year ago, while the Gemini Credit Card processed over $1.2 billion in transactions. Annual trading volume reached $52.7 billion, and prediction market contracts listed grew more than 350% from January to February 2026.

At year-end, the company held $252.2 million in cash and cash equivalents, using a portion to repay $116.5 million in third-party debt. Management declined to provide formal operating expense guidance for fiscal 2026, focusing instead on cash burn reduction initiatives.