For the year ending 2025-12-31, GEMI had $247,990K increase in cash & cash equivalents over the period. -$220,088K in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net loss | -582,813 |
| Depreciation and amortization | 30,723 |
| Impairment | 650 |
| Gain on conversion of convertible notes and term loans | 5,841 |
| Change in fair value on related party convertible notes | -25,789 |
| Change in fair value on related party loans | -119,309 |
| Realized and unrealized loss (gain) on crypto assets and receivable, crypto assets pledged | -1,263 |
| Realized and unrealized loss on related party crypto loans | -32,142 |
| Provision for transaction losses | 21,341 |
| Stock-based compensation | 84,956 |
| Crypto assets received as revenue | 30,813 |
| Crypto asset payments for expenses | -52,592 |
| Warrants received as revenue | 4,807 |
| Non-cash lease expense | 4,427 |
| Realized and unrealized loss (gain) on derivatives | -4,114 |
| Other operating activities, net | -6,105 |
| Purchase of crypto assets | 240,068 |
| Disposal of crypto assets | 323,352 |
| Accounts receivable | 6,879 |
| Other assets | -30,062 |
| Accounts payable and accrued expenses | 2,831 |
| Payables due to related parties | 28,365 |
| Payables due to third parties | 4,854 |
| Payables due for funding debt | 254 |
| Lease liabilities | -5,987 |
| Other liabilities | -114,029 |
| Net cash used in operating activities | -218,108 |
| Proceeds from disposal of crypto assets | 122,565 |
| Purchases of credit card receivables | 1,236,758 |
| Proceeds from repayments of credit card receivables | 1,074,003 |
| Capitalization of internally developed software costs | 5,682 |
| Purchase of software, property and equipment | 1,980 |
| Other investing activities, net | 81 |
| Net cash provided by (used in) investing activities | -47,933 |
| Proceeds from issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs | 391,165 |
| Proceeds from issuance of common stock in connection with concurrent private placement with nasdaq | 50,000 |
| Custodial funds due to customers, net of redemptions | 45,232 |
| Proceeds from related party convertible notes | 0 |
| Proceeds from related party loans | 15,100 |
| Proceeds from third party loan, net of discount | 74,250 |
| Proceeds from funding debt | 392,600 |
| Repayment of funding debt | 238,480 |
| Repayment of third party loans | 116,500 |
| Payment of withholding taxes-Restricted Stock Units RSU | 8,304 |
| Payment of withholding taxes-Stock Compensation Plan | 568 |
| Net cash provided by (used in) financing activities | 514,031 |
| Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents | 247,990 |
| Cash, cash equivalents, restricted cash and cash equivalents, beginning of period | 646,858 |
| Cash, cash equivalents, restricted cash and cash equivalents, end of period | 894,848 |
Gemini Space Station, Inc. (GEMI)
Gemini Space Station, Inc. (GEMI)