Shares of cryptocurrency exchange Gemini rose after hours as better-than-expected fourth-quarter results showed revenue growth driven by credit card adoption and a revised fee structure.
Twins reported on Thursday reported that the company’s fourth-quarter revenues increased 39% compared to the prior-year quarter to $60.3 million, apparently beating analysts’ expectations of $51.7 million.
It reported a net loss of $140.8 million for the fourth quarter, widening from a loss of $27 million a year ago. Gemini posted a total 2025 loss of $585 million, ahead of 2024 total losses of $156.6 million.
Gemini co-founders Cameron and Tyler Winklevoss wrote in a letter to shareholders that the fourth quarter was the company’s highest quarterly revenue in three years, and even with sinking trading volume, the revenue enhance reflected “deliberate fee structure work conducted in the second half of the year.”
Shares of Gemini (GEMI) initially rose 14% after Thursday hours to hit a high of $6.83, but eventually settled at $6.36, up 5.8% after ending the trading day unchanged at around $6.
The results are Gemini’s second after going public in September and come amid a broad cryptocurrency market decline in behind schedule 2025 that saw Bitcoin (BTC) quickly fall from an all-time high above $126,000 in October.
Gemini is already laying off 30% of its staff this year
In February, Gemini said it was withdrawing from the UK, EU and Australia, citing arduous market conditions. The company also planned to lay off 25% of its workforce, in part because of artificial intelligence.
In their letter, Cameron and Tyler Winklevoss wrote that Gemini has reduced its workforce by “approximately 30% since the beginning of 2026,” citing increased employ of artificial intelligence.
“Currently, AI is used in over 40% of production code changes, and we expect this number to increase to almost 100% in the near future,” they said. “Not using AI at Gemini will soon be the equivalent of coming to work with a typewriter instead of a laptop.”
The Winklevoss brothers said the company’s plan for this year was to “focus and double down on America,” adding that they were encouraged by the pro-crypto stance of U.S. market regulators.
Forecasting markets and key credit card priorities for 2026
In December, Gemini launched its own prediction marketplace, Gemini Predictions, in all 50 U.S. states, shortly after obtaining a license from the Commodity Futures Trading Commission.
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The company said it will improve and expand its offerings in the prediction market, as well as scale its credit card and exchange.
The Winklevoss brothers said Gemini will “transform into a marketplace company offering Gemini Predictions” and employ that infrastructure for its perpetual futures contracts once they are approved in the US.
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