Credit and interest ratesmixed · 3 filings
“This decrease was partially offset by $1.8 million of interest expense related to the NYDIG MRA (as defined below) incurred in the current period.”10-Q · May 15, 2026 ↗
Gemini Space Station, Inc.
GEMI
Market read
Gemini Space Station, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Company+1.4% todayVolume comparison unavailable
Market group0 of 1 activeCryptocurrency Trading · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- GEMI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if GEMI's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 12 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- GEMI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Brokerage and capital-markets earnings model
For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.
Key research questions
- Can client and activity growth offset pressure from lower rates or weaker trading volumes?
- Are customer balances, margin lending and credit conditions changing the risk profile?
- Does the valuation reflect a durable earnings model or unusually favorable market conditions?
Annual periods3
Price observations244
Usable filing statements164
Verified relationships13
Evidence supporting the case
- Latest annual revenue changed +26.3% year over year.
- Credit and interest rates has repeated favorable evidence across 3 filings.
- Restructuring and cost reductions has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Operating margin changed -75.8 percentage points in the latest annual period.
- Net margin changed -213.0 percentage points in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
4.466m-32.4%12m—24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2023-12-31$98.1M—$-66.25—
2024-12-31$142.2M+44.9%$-32.24+1.9%
2025-12-31$179.6M+26.3%$-15.52—
What management says matters
Persistent and emerging business drivers
Demand and volumemixed · 2 filings
“Cloud computing expenses and equipment-related costs increased by $15.2 million as a result of greater computing capacity and usage to support higher volumes.”10-K · Mar 31, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.9× · EV/sales —. Comparisons use only industry-matched filing peers.
Scenario scaffold
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
How the market is pricing the story
4.46+1.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for GEMI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for GEMI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind GEMI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MAMastercard IncorporatedpartnerMay 15, 2026 ▾
“We will also continue to explore and enter into strategic partnerships with various companies to scale our business, including, but not limited to, partnerships to increase traffic to our platform and banking and payment processor partnerships, such as our ex…”
GLXYGalaxy DigitalpartnerMar 31, 2026 ▾
“The Galaxy Lending Agreement permitted us to make lending requests of various types to Galaxy Digital to borrow digital currency, including BTC, BCH, ETH, ETC, or LTC, or U.S.”
Depended on by
DGXXDigi Power X Inc.customerMay 15, 2026 ▾
“Gemini is a digital currency exchange and custodian that allows customers to buy, sell, and store its digital assets.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 14 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
GEMI is currently a Leader in the organic co-movement group Cryptocurrency Trading. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for GEMI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.