Summary
Robinhood Markets, Inc. (HOOD) has released preliminary operating data for November 2024 ahead of its inaugural Investor Day. The report indicates significant growth across key metrics, demonstrating strong momentum. Funded Customers increased by over 400,000, and Assets Under Custody (AUC) surpassed $190 billion, marking a substantial year-over-year increase of over 100%. This growth was fueled by robust customer Net Deposits, exceeding $5 billion in November and totaling over $47 billion over the past twelve months. The company also reported strong trading volumes. Equity Notional Trading Volumes saw a significant year-over-year increase of over 170%, reaching over $145 billion in November. While Options Contracts Traded saw a slight sequential decrease, they were up over 50% year-over-year. Notably, Crypto Notional Trading Volumes experienced explosive growth, up over 600% year-over-year to over $30 billion in November. These operational highlights, alongside increases in margin balances and cash sweep balances, paint a positive picture of user engagement and asset growth on the Robinhood platform.
Key Highlights
- 1Funded Customers grew by over 400,000 in November 2024.
- 2Assets Under Custody (AUC) exceeded $190 billion, up over 100% year-over-year.
- 3Customer Net Deposits were over $5 billion in November 2024 and over $47 billion over the last twelve months.
- 4Equity Notional Trading Volumes grew over 170% year-over-year to over $145 billion in November.
- 5Crypto Notional Trading Volumes surged over 600% year-over-year to over $30 billion in November.
- 6Margin balances increased over 5% from October 2024 and over 80% year-over-year.
- 7Total Cash Sweep balances increased over 2% from October 2024 and over 70% year-over-year.