**[Gemini's First Post-IPO Financial Report: Revenue Soars by 52%, Stock Price Hits Record Low]** November 11 news, according to The Block, Gemini released its first quarterly financial report after going public, reporting net revenue of nearly $50 million in the third quarter, a 52% quarter-over-quarter increase. Trading volume reached $16.4 billion, up 45% quarter-over-quarter, with institutional trading volume growing by nearly 50%. Transaction fees exceeded $26 million, while service revenue was approximately $20 million, accounting for nearly 40%—a significant increase from less than 30% in the same period last year. Gemini's crypto credit card performed impressively, with over 100,000 accounts opened and quarterly spending reaching $350 million, doubling quarter-over-quarter. Staking balances reached $741 million. The company also obtained a European MiCA license, entered the Australian market in early October, and launched a self-custody wallet, accelerating its international expansion. Gemini has repaid its debts and established a $150 million credit line for credit card receivables, projecting annual service and interest income of $60–70 million. However, due to IPO-related stock compensation and marketing expenses, the company reported a net loss of $159.5 million, equivalent to $6.67 per share, with adjusted EBITDA at -$52.4 million. Following the release of the financial report, GEMI's stock price plunged more than 11% in after-hours trading, falling below $15 and hitting a record low since its IPO, as investors expressed concerns over widening losses.