HOOD · 10-Q · 2026Q1

Robinhood Markets, Inc.

Filed 2026-04-29 · Financials

Ranked Events

• Transaction-based Revenue Mix ShiftImportance 85 · Surprise 92
  Transaction-based revenues rose by $40 million overall but the mix shifted materially: event contracts revenue increased by $101 million, equities by $26 million, and options by $20 million, while cryptocurrency…
• Platform Assets CompositionImportance 84 · Surprise 74
  Total Platform Assets increased 39% year-over-year to $307.3 billion as of March 31, 2026 from $220.6 billion at March 31, 2025, driven by Net Deposits, higher equity valuations, and acquired assets. Asset composition…
• Total Platform Assets GrowthImportance 76 · Surprise 56
  Total Platform Assets increased 39% to $307.3 billion, driven by continued Net Deposits, higher equity valuations, and acquired assets. Equities were the largest component, rising to $207.5 billion while cash held by…
• Operating Expense TrendsImportance 68 · Surprise 58
  Total operating expenses rose 18% to $656 million, an increase of $99 million year‑over‑year, reflecting investments to support growth and new product initiatives. Technology and development costs increased (notably…
• Provision for Credit Losses IncreaseImportance 66 · Surprise 74
  Provision for credit losses rose $12 million (a 50% increase) primarily driven by an $18 million increase in credit‑card‑related provision for credit losses tied to higher balances in purchased credit card receivables.…
• Credit Loss ProvisionsImportance 66 · Surprise 74
  Provision for credit losses increased by $12 million for the three months ended March 31, 2026 compared to the prior year period, a 50% increase year-over-year. The increase was primarily driven by an $18 million rise…
• Transaction-based RevenuesImportance 66 · Surprise 74
  Transaction-based revenues increased by $40 million in Q1 2026 versus Q1 2025, driven by a $101 million increase in event contracts, $26 million in equities, and $20 million in options, partially offset by a $118…
• Robinhood Gold Subscriber and ARPU GrowthImportance 60 · Surprise 74
  Robinhood Gold Subscribers grew 36% to 4.34 million, and ARPU increased 8% to $157, supporting growth in other revenues and recurring subscription income. Other revenues rose $31 million, primarily driven by higher…
• Operating Cash Flow ImprovementImportance 52 · Surprise 42
  Cash provided by operating activities totaled $2,038 million for the three months ended March 31, 2026. Improvements in operating cash flow were driven by increases in net income after non-cash adjustments and a $5,612…
• Net Interest Income TrendsImportance 50 · Surprise 24
  Net interest revenues increased by $69 million for the three months ended March 31, 2026, driven primarily by higher margin interest and net credit card interest as margin borrowers and the credit card business grew.…
• Committed Credit FacilitiesImportance 49 · Surprise 6
  Robinhood has committed revolving credit facilities with total borrowing capacity up to $4.875 billion and a borrowing capacity for the Trust of up to $1.250 billion as of March 31, 2026. These facilities provide…
• Liquidity and Cash PositionImportance 49 · Surprise 6
  Principal sources of liquidity are cash flows from operations and on‑balance sheet cash, cash equivalents and investments; as of March 31, 2026 the company held $5.0 billion of cash and cash equivalents and $153…
• Quarterly Results SnapshotImportance 47 · Surprise 22
  Total net revenues for the three months ended March 31, 2026 increased 15% to $1,067 million from $927 million in Q1 2025. Net income attributable to Robinhood rose 4% to $350 million and diluted EPS increased 3% to…
• Acquisition / Partnership / DivestitureImportance 44 · Surprise 60
  In April 2026 Robinhood announced it will serve as broker and sole initial trustee for the Trump Accounts on behalf of the U.S. Department of the Treasury. Robinhood will work with BNY, the Treasury’s selected…
• Commitments and Contractual ObligationsImportance 44 · Surprise 24
  As of March 31, 2026, the company disclosed total contractual obligations of $2,216 million, with $1,055 million due in the remainder of 2026. Purchase commitments related to cloud infrastructure, data services and…
• Regulatory Capital ComplianceImportance 43 · Surprise 6
  The company’s broker‑dealer and FCM subsidiaries compute and maintain net capital under SEC/FINRA and CFTC rules; RHS shows net capital of $3,782 million with excess net capital of $3,407 million as of March 31, 2026.…
• Capital Adequacy and RequirementsImportance 42 · Surprise 6
  Robinhood’s broker‑dealer subsidiaries (RHS, RHF, and TradePMR) are subject to the SEC/FINRA Net Capital Rule and must maintain minimum net capital, while FCM subsidiary RHD is subject to CFTC Regulation 1.17…
• Other Revenues GrowthImportance 37 · Surprise 32
  Other revenues increased $31 million in Q1 2026 versus Q1 2025, primarily due to higher Robinhood Gold subscription revenues driven by growth in Robinhood Gold Subscribers to 4.34 million. Additional contributors to…
• Guidance / OutlookImportance 31 · Surprise 42
  Management states liquidity needs will support core business investments, potential strategic acquisitions, and general capital needs including regulatory and SRO capital and cash deposit and collateral requirements…
• Provision for Income Taxes IncreaseImportance 31 · Surprise 32
  Provision for income taxes increased by $30 million for the three months ended March 31, 2026, primarily due to business growth and a decrease in excess tax benefits from share‑based compensation. The tax expense rise…

Revenue by Product (in millions)