01—Abstract
Summary
Summary of the 10-Q filed April 29, 2026. Cited figures are marked; the original filing is the authoritative source.
Robinhood Markets, Inc. (HOOD) reported a solid first quarter for 2026, demonstrating continued growth and profitability.
Total net revenues increased by 15% year-over-year to $1.07 billiona, driven by a 7% rise in transaction-based revenues and a significant 24% increase in net interest revenues. This revenue growth was fueled by higher margin interest, credit card business growth, and increased Robinhood Gold subscriptions. The company also saw strong expansion in its user base, with Funded Customers up 6% to 27.4 million and Robinhood Gold Subscribers surging 36% to 4.34 million.
Total Platform Assets grew by 39% to $307.3 billionb, indicating robust client asset growth. Profitability remained strong, with net income attributable to Robinhood increasing by 4% to $350 million, translating to a diluted Earnings Per Share (EPS) of $0.38. Adjusted EBITDA also saw a healthy increase of 14% to $534 million.
The company's liquidity position remains strong, with $5.0 billionc in cash and cash equivalents as of March 31, 2026. Management expressed confidence in the company's ability to meet its liquidity needs for the next 12 months and announced a new $1.5 billion share repurchase program, signaling a commitment to returning value to shareholders.
02—Key points
Key Highlights
- Total net revenues increased 15% to $1.07 billion, driven by strong performance in transaction-based and net interest revenues.
- Net income attributable to Robinhood grew 4% to $350 million, with diluted EPS at $0.38.
- Funded Customers increased by 6% to 27.4 million, and Robinhood Gold Subscribers saw a significant 36% jump to 4.34 million.
- Total Platform Assets grew 39% to $307.3 billion, reflecting increased customer assets and market appreciation.
- Adjusted EBITDA (non-GAAP) increased 14% to $534 million, demonstrating operational efficiency.
- The company announced a new $1.5 billion share repurchase program, underscoring its commitment to shareholder value.
- Strong liquidity position with $5.0 billion in cash and cash equivalents as of March 31, 2026.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 29, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $1.07B$927.00M | +15.1% |
| Operating Expenses | $656.00M$557.00M | +17.8% |
| Net Income | $350.00M$336.00M | +4.2% |
| EPS (Basic) | $0.39$0.38 | +2.6% |
| EPS (Diluted) | $0.38$0.37 | +2.7% |
| Shares Outstanding (Basic) | 899.15M884.58M | +1.6% |
| Shares Outstanding (Diluted) | 915.04M909.24M | +0.6% |
05—Questions
Frequently Asked Questions
What were the main drivers of Robinhood's revenue growth in Q1 2026?
Robinhood's revenue growth was primarily driven by a 7% increase in transaction-based revenues, notable growth in net interest revenues (up 24%), particularly from higher margin interest and credit card business, and a substantial increase in Robinhood Gold subscriptions (up 36%).
How did Robinhood's user base and platform assets perform?
The company continued to expand its user base, with Funded Customers increasing by 6% to 27.4 million and Robinhood Gold Subscribers growing by 36% to 4.34 million. Total Platform Assets also saw significant growth, rising 39% to $307.3 billion, driven by net deposits, market appreciation, and acquired assets.
What is the significance of the new $1.5 billion share repurchase program?
The announcement of a $1.5 billion share repurchase program demonstrates management's confidence in the company's financial health and its commitment to returning capital to shareholders. This program, expected to be executed over approximately three years, aims to enhance shareholder value.
How is Robinhood managing its regulatory and legal exposures?
Robinhood is subject to extensive regulatory oversight and litigation. The company is actively cooperating with investigations and is involved in numerous legal proceedings. While the report notes ongoing matters and potential risks, it also highlights settlements reached and the company's belief that its accrued amounts and defenses are adequate to address probable losses. Investors should closely monitor disclosures related to these matters in future filings, particularly in the Risk Factors section and legal proceedings notes.
06—Continue