10-QPeriod: Q1 FY2026

Robinhood Markets, Inc. Quarterly Report for Q1 Ended Mar 31, 2026

Filed April 29, 2026For Securities:HOOD

Summary

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 billion, 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 billion, 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 billion 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.

Financial Highlights

43 data points
Beta

Revenue

$1.07B

Net Income

$350.00M

32.8% Net Margin

EPS (Diluted)

$0.38

Total Assets

$45.47B

Cash & Equivalents

$5.01B

Free Cash Flow

$2.04B

Financial Statements
Beta
Revenue$1.07B
Operating Expenses$656.00M
Net Income$350.00M
EPS (Basic)$0.39
EPS (Diluted)$0.38
Shares Outstanding (Basic)899.15M
Shares Outstanding (Diluted)915.04M

Key Highlights

  • 1Total net revenues increased 15% to $1.07 billion, driven by strong performance in transaction-based and net interest revenues.
  • 2Net income attributable to Robinhood grew 4% to $350 million, with diluted EPS at $0.38.
  • 3Funded Customers increased by 6% to 27.4 million, and Robinhood Gold Subscribers saw a significant 36% jump to 4.34 million.
  • 4Total Platform Assets grew 39% to $307.3 billion, reflecting increased customer assets and market appreciation.
  • 5Adjusted EBITDA (non-GAAP) increased 14% to $534 million, demonstrating operational efficiency.
  • 6The company announced a new $1.5 billion share repurchase program, underscoring its commitment to shareholder value.
  • 7Strong liquidity position with $5.0 billion in cash and cash equivalents as of March 31, 2026.

Frequently Asked Questions

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%).

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.

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.

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.