GEMI stock slides after exec exits, FY2025 EBITDA loss

• Lyla Velez
• February 17, 2026
• News
• 0 Comments

Key Points:

• Shares fell after COO, CFO, and CLO departures at Gemini Space Station.
• Softer preliminary FY2025 outlook compounded concerns alongside leadership changes.
• Governance disruption and weaker guidance signaled near-term operational and profitability pressure.

Gemini Space Station (GEMI) shares fell after the company said it would part ways with three senior executives, including its COO, CFO, and CLO, according to CoinGape. This update concerns Gemini Space Station (ticker GEMI), not Google’s Gemini AI.

Financial press coverage also flagged a softer preliminary FY2025 outlook disclosed alongside the leadership changes, as reported by Barron’s. Together, the governance disruption and weaker guidance signaled near‑term operational and profitability pressure.

What Happened: Price Move, Premarket Action, and Closing Context

GEMI fell nearly 10% in premarket trading on Tuesday, according to MSN. Losses persisted into regular hours, leaving the stock markedly lower versus the prior close by the end of the session.

At the time of this writing, Coinbase Global (COIN) was up about 2.30% intraday, based on data from Yahoo Finance, underscoring that GEMI’s slide was company‑specific. Several sell‑side firms reduced valuation assumptions and price targets after the update, including at Cantor Fitzgerald, according to The Smart Investor. One bank struck a more constructive tone: “We continue to view GEMI as a hidden gem(i),” said Mizuho in a client note.

Guidance and Financials: Adjusted EBITDA Loss and Cost Cuts

GEMI’s preliminary FY2025 outlook called for an adjusted EBITDA loss of approximately $257 million to $267 million, according to Gemini Space Station Inc. The figures indicate deeper losses than previously anticipated and frame a tougher path to breakeven.

Management paired the outlook with cost actions, including a workforce reduction of about 25% and a pullback from the UK, Europe, and Australia to refocus on core markets, per the same update. While these measures could slow cash burn, they also introduce execution risk as the company restructures and narrows its geographic footprint.