Gemini Q3 Loss $159M Amid 100% Revenue Growth
Gemini talk say dem loss $159 million net for di third quarter, na because of one-time IPO costs for dia planned Nasdaq listing, wey include regulatory compliance fees, technology upgrades, plus advisory charges. Net revenue climb 52% quarter-on-quarter to $49.8 million and e more than double year-on-year to $50.6 million, powered by record $16.4 billion trading volume and strong credit card program. Services revenue wey cover staking, custody and card fees jump 111% to $19.9 million. Even though user growth dey strong and fee streams diverse, operating expenses of $171.4 million pass revenue. Traders suppose weigh the credibilty boost from Nasdaq debut against ongoing losses and funding needs. Future performance depend on cost control, capital efficiency and compliance with public reporting standards.
Neutral
Di report dey show say Gemini get beta revenue growth and dem dey invest well for the plan wey dem get to list for Nasdaq, wey fit make people believe am more long term and make users get confidence. But the big net loss and high operating cost fit put pressure for how dem go get money to trade short term and how many trades go dey. Traders fit no too react for price until the exchange fit show say dem sabi manage cost well and get steady profit.