Gemini Space Station (GEMI) Citi’s 14th Annual FinTech Conference Presentation summary

Key business highlights

• Monthly transacting users reached 587K in Q3'25, up 12% quarter-over-quarter and 23% year-over-year.

• Trading volume hit $16.4B in Q3'25, a 45% increase quarter-over-quarter and 145% year-over-year.

• Assets on platform grew to $21.3B, up 17% quarter-over-quarter and 61% year-over-year.

• Total revenue for Q3'25 was $50.6M, a 52% increase quarter-over-quarter and 106% year-over-year.

• Services revenue reached $19.9M, up 111% quarter-over-quarter and 172% year-over-year.

Credit card performance and strategy

• Over 115K open credit card accounts and $350M+ in card transaction volume as of Q3'25.

• Card revenue grew 75% quarter-over-quarter in Q3'25.

• 56% of US acquired transacting users in Q3'25 originated from card onboarding.

• 75% of open card accounts were active at Q3'25 quarter-end.

• Cardholders show higher balances, more product participation, and higher ARPU than non-card users.

Financial results and revenue breakdown

• Q3'25 total revenue was $50.6M, with $26.3M from transaction revenue and $19.9M from services revenue.

• Net revenue for Q3'25 was $49.8M.

• Credit card revenue for Q3'25 was $8.5M, with pre-provision net revenue of $2.1M.

• Managed card portfolio receivables reached $150.6M, with charge-offs at $1.1M and 30+ DPD at 2.7%.

• Interest income for Q3'25 was $3.5M.