your badges 52W Range $3–$21 0% of range Analyst Rating BUY 16 analysts Price Target $5 +71% upside P/E 0.2 ROE 220.5% Net Profit Margin -250.1%

GEMI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $3.06
Market Cap (MRQ) $394M
P/E (TTM) 0.2
EPS (TTM) $15.01
Revenue (TTM) $207M
ROE 220.5%
52W Range $3–$21

GEMI Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
range
bars

Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$180M
2023-12-31 → 2025-12-31
EPS$-15.52
2023-12-31 → 2025-12-31
Free Cash Flow$-220M
2025-12-31 → 2025-12-31
Net margin-250.1%
2025-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend GEMI 5Y avg Peer Median Verdict
P/E (TTM) 0.2 · 21.6 Undervalued
P/S (TTM) 1.9 · 2.7 Fair value
P/B (MRQ) 0.8 · 2.7 Undervalued
Price / FCF (TTM) -1.3 · · ·
Price / Cash Flow (TTM) -1.3 · · ·
Price / Tangible Book (MRQ) 1.2 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -86.8%
Next Report Nov 12, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 13, 2026 $-0.89 $-0.77 -16.2%
March 31, 2026 May 14, 2026 $-0.93 $-1.05 11.8%
Dec. 31, 2025 $-1.22 $-1.08 -12.7%
Sept. 30, 2025 $-3.41 $-0.79 -330.0%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 14
Metric Trend 20252024
Revenue $180M$142M
SG&A Expense $77M$51M
Operating Expenses $525M$308M
Operating Income $-346M$-166M
Interest Income $5M$1M
Other Non-op $6M$55M
Pretax Income $-589M$-151M
Income Tax $-6M$8M
Net Income $-583M$-159M
EPS (Basic) $-15.52$-32.24
EPS (Diluted) $-15.52$-32.24
Shares (Basic) 37,552,0004,918,000
Shares (Diluted) 37,552,0004,918,000
EBITDA $-315M·
Balance Sheet 24
Metric Trend 20252024
Cash & Equivalents $252M$43M
Receivables $31M$65M
Prepaid Expense $52M$37M
Other Current Assets $4M$6M
Current Assets $1.61B$1.39B
PP&E (Net) $15M$17M
PP&E (Gross) $68M$62M
Accum. Depreciation $53M$45M
Intangibles $140M$162M
Other Non-current Assets $41M$27M
Total Assets $1.80B$1.59B
Accounts Payable $3M$18M
Accrued Liabilities $43M$39M
Current Liabilities $1.24B$1.35B
Capital Leases $21M$20M
Deferred Tax $0$7M
Total Liabilities $1.26B$1.85B
Paid-in Capital $2.58B$662M
Retained Earnings $-2.04B$-1.46B
Treasury Stock $568.0K$0
AOCI $887.0K$3M
Stockholders' Equity $541M$-795M
Liabilities + Equity $1.80B$1.59B
Shares Outstanding 117,740,0000
Cash Flow 11
Metric Trend 20252024
D&A $31M$33M
Stock-based Comp $85M$6M
Deferred Tax $-8M$7M
Amort. of Intangibles $22M$23M
Other Non-cash $257M·
Operating Cash Flow $-218M$-109M
CapEx $2M$1M
Investing Cash Flow $-48M$84M
Financing Cash Flow $514M$225M
Taxes Paid $919.0K$492.0K
Free Cash Flow $-220M·
Profitability 7
Metric Trend 20252024
Operating Margin -192.5%·
Net Margin -324.6%·
Pretax Margin -327.9%·
EBITDA Margin -175.4%·
ROA -34.3%·
ROE 220.5%·
ROIC -63.3%·
Liquidity & Solvency 2
Metric Trend 20252024
Current Ratio 1.3·
Quick Ratio 0.2·
Efficiency 2
Metric Trend 20252024
Asset Turnover 0.1·
Receivables Turnover 3.7·
Per Share 5
Metric Trend 20252024
Book Value / Share $4.59·
Revenue / Share $4.78·
Cash Flow / Share $-5.81·
Cash / Share $2.14·
EPS (TTM) $-15.52·
Growth Rates 1
Metric Trend 20252024
Revenue YoY 26.3%44.9%
Valuation (TTM) 10
Metric Trend 20252024
Revenue TTM $180M·
Net Income TTM $-583M·
Market Cap $1.17B·
P/E -0.6·
P/S 6.5·
P/B 2.2·
P / Tangible Book 2.9·
P / Cash Flow -5.4·
P / FCF -5.3·
Earnings Yield -156.4%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-31
Revenue $180M $142M $98M
Operating Margin % -192.5% · ·
Net Income $-583M $-159M $-320M
Diluted EPS $-15.52 $-32.24 $-66.25

Institutional owners (13F) 115 filers · $109.7M total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 115
Value held $109.7M
New positions 37
Exited positions 16
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
37 (-3 vs prior Q) 16 (0 vs prior Q) 39 (+17 vs prior Q) 19 (0 vs prior Q) +8.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
ParaFi Capital LP $14,607,063 3,428,888 13.31% Shares
VANGUARD GROUP INC $12,749,036 1,285,185 11.62% Shares
GEODE CAPITAL MANAGEMENT, LLC $12,420,883 1,200,409 11.32% Shares
BlackRock, Inc. $12,120,821 2,845,263 11.05% Shares
MARSHALL WACE, LLP $6,117,508 1,436,034 5.58% Shares
MORGAN STANLEY $5,443,420 1,277,798 4.96% Shares
VANGUARD CAPITAL MANAGEMENT LLC $5,411,367 1,270,274 4.93% Shares
CITADEL ADVISORS LLC $3,043,344 714,400 2.77% Call option
Commonwealth Bank of Australia $3,042,850 714,284 2.77% Shares
STATE STREET CORP $2,820,533 662,097 2.57% Shares
UBS Group AG $2,408,621 565,404 2.20% Shares
Morgan Creek Capital Management, LLC $2,395,096 562,229 2.18% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $2,049,912 481,200 1.87% Put option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,798,572 422,200 1.64% Call option
CITADEL ADVISORS LLC $1,600,030 375,594 1.46% Shares
NORTHERN TRUST CORP $1,496,760 351,352 1.36% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $1,317,857 309,356 1.20% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $1,177,042 276,301 1.07% Shares
TUDOR INVESTMENT CORP ET AL $1,160,492 272,416 1.06% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,081,742 253,930 0.99% Shares
Marex Group Ltd $976,720 229,277 0.89% Shares
D. E. Shaw & Co., Inc. $951,258 223,300 0.87% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $841,802 197,606 0.77% Shares
BNP PARIBAS FINANCIAL MARKETS $717,648 168,462 0.65% Shares
GOLDMAN SACHS GROUP INC $673,991 158,214 0.61% Shares
Walleye Trading LLC $636,018 149,300 0.58% Put option
Walleye Trading LLC $571,074 134,055 0.52% Shares
VANGUARD FIDUCIARY TRUST CO $539,022 126,531 0.49% Shares
Walleye Trading LLC $498,846 117,100 0.45% Call option
JANE STREET GROUP, LLC $463,914 108,900 0.42% Put option
North Reef Capital Management LP $426,004 100,001 0.39% Shares
Bank of New York Mellon Corp $414,947 97,405 0.38% Shares
JANE STREET GROUP, LLC $403,848 94,800 0.37% Call option
GROUP ONE TRADING LLC $383,839 90,103 0.35% Shares
CITADEL ADVISORS LLC $354,858 83,300 0.32% Put option
BANK OF AMERICA CORP /DE/ $331,974 77,928 0.30% Shares
Crawford Fund Management, LLC $323,760 76,000 0.30% Put option
Aquatic Capital Management LLC $308,526 72,424 0.28% Shares
Vontobel Holding Ltd. $305,085 59,125 0.28% Shares
TIGER GLOBAL MANAGEMENT LLC $298,200 70,000 0.27% Shares
LUMINUS MANAGEMENT LLC $287,550 67,500 0.26% Shares
Invesco Ltd. $241,989 56,805 0.22% Shares
Nuveen, LLC $232,379 54,549 0.21% Shares
Apollon Wealth Management, LLC $210,425 40,780 0.19% Shares
Clear Street Group Inc. $207,879 48,798 0.19% Shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $198,857 44,487 0.18% Shares
Verition Fund Management LLC $191,274 44,900 0.17% Put option
WELLS FARGO & COMPANY/MN $178,358 41,868 0.16% Shares
DEUTSCHE BANK AG\ $170,391 39,998 0.16% Shares
Verition Fund Management LLC $155,490 36,500 0.14% Shares

Show all 115 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Winklevoss Capital Fund, LLC, Winklevoss Capital Management, LLC, Tyler Howard Winklevoss, Cameron Howard Winklevoss May 18, 2026 65.10% Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 11 insiders · 6 officers · 8 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Tyler Howard Winklevoss Chief Executive Officer Sept. 15, 2025 A · 0 0 $0
Danijela Stojanovic Interim CFO Aug. 20, 2026 S 187,923 0 3 $-128,707
Daniel N. Chen Chief Financial Officer Sept. 11, 2025 A 535,714 0 0 $0
Cameron Howard Winklevoss President Sept. 15, 2025 A · 0 0 $0
Marshall Edmund Beard Chief Operating Officer Jan. 24, 2026 F 1,506,768 0 0 $0
Tyler Roberts Meade Chief Legal Officer Jan. 24, 2026 F 1,069,462 0 0 $0
Maria Filipakis Director June 16, 2026 A 77,170 0 0 $0
James Anthony Esposito Director June 16, 2026 A 49,604 0 0 $0
Sachin Chand Jaitly Director June 16, 2026 A 49,604 0 2 $-354,222
Jonathan B Durham Director June 16, 2026 A 121,727 0 0 $0
Winklevoss Capital Fund, LLC Director Sept. 15, 2025 A · 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 11 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
SATO · Invesco Exchange-Traded Fund Trust … 1.47% 32,328 SH Oct. 23, 2026 Daily
IBLC · iShares Trust 0.08% 15,483 SH Sept. 11, 2026 Daily
IWC · iShares Trust 0.04% 141,548 SH Sept. 11, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.01% 237,034 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 35,663 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.01% 1,150,844 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.01% 19,584 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 217,761 SH Aug. 19, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 1,026,123 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 3,604 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 375,582 SH Sept. 11, 2026 Daily

GEMI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 16 analysts HOLD
Median target $5.00 +63.4%
2 12.5% Strong Buy
6 37.5% Buy
6 37.5% Hold
1 6.2% Sell
1 6.2% Strong Sell

12-Month Price Target

10 analysts · 2026-10-24

Mean target $5.22 +70.8%

← Below all targets Current price $3.06
Low$3.50 Mean$5.22 High$7.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
GEMI $1.17B -0.6 26.3% -324.6% 220.5% ·
MKTX $6.48B 27.3 3.6% 29.1% 19.5% ·
MIAX $3.80B -44.4 19.7% -5.1% -10.8% 31.6%
DFIN $1.20B 40.6 -1.9% 4.2% 8.0% ·
VALU · · -4.7% 64.7% 20.3% ·
MKTW · 6.5 -19.7% 1.7% -46.4% ·
SVIA · · · · · ·
BKKT · -1.1 -32.1% -4.6% -146.2% ·
AIFC · · · · · ·

Latest News Recent headlines mentioning this company

23
New York sues Coinbase and Gemini Titan, calls their prediction markets illegal gambling Yahoo Finance · Popular crypto exchange slams 225-year-old Wall Street 'dinosaur' Yahoo Finance · Here's Why Gemini Space Station Stock Slumped This Week Nasdaq · Gemini Revenue Grows To $180 Million But Losses Balloon To $583 Million In 2025 Yahoo Finance · Gemini Crypto Exchange Hit With Class-Action Lawsuit Over Strategy Shift Yahoo Finance · Citi Downgrades Crypto Exchange Gemini After Cutting Bitcoin, Ethereum Price Targets Yahoo Finance · Layoffs hit crypto industry twice in 2 days Yahoo Finance · Micro-Cap Crypto Exchange Gemini Has Upside Potential Yahoo Finance · Why Gemini Space Station Stock Crashed Down to Earth Today Nasdaq ·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Source: SEC 10-Q filed Aug 13, 2026