Crypto exchange Gemini Space Station said on Thursday that its second-quarter losses narrowed from a year ago, driven by more nontrading-related revenue and cost reductions from recent restructuring.

The company, led by Cameron and Tyler Winklevoss, said total revenue for the three months ended June 30 increased 37% to $45.5 million, from $33.3 million during the same period a year ago. Net loss decreased 19% year-over-year to $107.7 million, compared with $133.2 million in the second quarter of 2025. Shares of Gemini fell 6% in after-hours trading.