Robinhood Markets, Inc. Quarterly Report for Q2 Ended Jun 30, 2025

Summary

Robinhood Markets, Inc. reported a strong second quarter for fiscal year 2025, with total net revenues increasing by 45% year-over-year to $989 million. This robust performance was driven by significant growth across all revenue segments, particularly transaction-based revenues which saw a 65% increase, and net interest revenues up 25%. Net income more than doubled to $386 million, translating to a diluted EPS of $0.42, a 100% increase from the prior year. The company also experienced substantial growth in key customer metrics. Funded Customers increased by 10% to 26.5 million, and Total Platform Assets grew by an impressive 99% to $278.6 billion, largely due to customer net deposits and strategic acquisitions. The acquisition of Bitstamp in June 2025 appears to have been a significant contributor to asset growth. Robinhood Gold Subscribers also saw a substantial 76% increase, highlighting the growing adoption of their premium services. Despite increased operating expenses, largely driven by marketing and provision for credit losses, the company demonstrated improved profitability and operational efficiency.

Key Highlights

• 1Total net revenues surged by 45% year-over-year to $989 million, driven by strong performance across all revenue segments.
• 2Net income more than doubled, reaching $386 million, with diluted EPS increasing by 100% to $0.42.
• 3Total Platform Assets nearly doubled, increasing by 99% to $278.6 billion, significantly boosted by acquisitions and net deposits.
• 4Funded Customers grew by 10% to 26.5 million, indicating continued user base expansion.
• 5Robinhood Gold Subscribers increased by 76% to 3.48 million, showcasing the appeal of premium offerings.
• 6The acquisition of Bitstamp in June 2025 significantly contributed to asset growth and international expansion.
• 7Adjusted EBITDA (non-GAAP) increased by 82% to $549 million, reflecting improved profitability.

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