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00:02Gemini Space Station shares rose after the company reported first quarter results
00:07and announced an investment from Winklevoss Capital Fund, according to Benzinga.
00:11The company reported first quarter revenue of $50.27 million and a quarterly loss of $0.93
00:18per share, beating analyst estimates for revenue of $49.29 million and a loss of $0.96 per share.
00:27Total revenue increased 42% year-over-year, driven by growth in services and OTC revenue.
00:34Gemini reported 589,000 monthly transacting users, up 17% year-over-year.
00:42The company ended the quarter with $215.6 million in cash-in-cash equivalents.
00:49Gemini also announced a $100 million strategic investment from Winklevoss Capital Fund
00:55at $14 per share.
00:58CEO Tyler Winklevoss said the company believes its shares are undervalued
01:03and that the investment will support its next phase of growth.
01:06Shares were up by 29.79% at $6.39, according to data from Benzinga Pro.
01:15For all things money, visit Benzinga.com.
01:17For all things money, visit Benzinga.com.
01:17For all things money, visit Benzinga.com.
01:18For all things money, visit Benzinga.com.
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