Gemini Q1 Revenue Surges 42% on Credit Card Boom, Crypto Trading Slumps

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2026-05-15 11:16:02

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Gemini's first-quarter revenue soared to $50.3 million, a 42% year-over-year increase, driven by a 300% explosion in credit card revenue to $14.7 million. This segment now accounts for nearly half of total revenue, offsetting a 27% decline in crypto exchange revenue to $17.2 million as trading volumes collapsed from $13.5 billion to $6.3 billion.

The company's stock (GEMI) rallied 30% in after-hours trading to $4.92, though it remains down 47% year-to-date. Gemini reported a $109 million net loss while highlighting growth in its prediction market, which surpassed 100 million contracts traded since December.

Founders Tyler and Cameron Winklevoss secured a $100 million strategic investment from Winklevoss Capital, signaling a pivot from pure-play crypto toward diversified financial markets.

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