Robinhood Markets, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Robinhood Markets, Inc. reported revenue of $4.5B (+51.6% year on year) and net income of $1.9B.
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $3.0B | $1.8B | $936.0M | $934.0M |
| Net interest revenues | $1.5B | $1.1B | $929.0M | $424.0M |
| Total net revenues | $4.5B | $3.0B | $1.9B | $1.4B |
| Brokerage and transaction | $211.0M | $164.0M | $146.0M | $179.0M |
| Technology and development | $897.0M | $818.0M | $805.0M | $878.0M |
| Operations | $130.0M | $112.0M | $159.0M | $285.0M |
| Provision for credit losses | $114.0M | $76.0M | — | — |
| Marketing | $399.0M | $272.0M | $122.0M | $103.0M |
| General and administrative | $628.0M | $455.0M | $1.2B | $924.0M |
| Total operating expenses | $2.4B | $1.9B | $2.4B | $2.4B |
| Other income, net | $14.0M | $10.0M | ($3.0M) | $16.0M |
| Income (loss) before income taxes | $2.1B | $1.1B | ($533.0M) | ($1.0B) |
| Provision for (benefit from) income taxes | $225.0M | ($347.0M) | $8.0M | $1.0M |
| Net income (loss) | $1.9B | — | — | — |
| Net income (loss) attributable to non-controlling interest | $0 | — | — | — |
| Net income (loss) attributable to Robinhood Markets, Inc., Basic | $1.9B | $1.4B | ($541.0M) | ($1.0B) |
| Net income (loss) attributable to Robinhood Markets, Inc., Diluted | $1.9B | $1.4B | ($541.0M) | ($1.0B) |
| Basic (in dollars per share) | $2.12 | $1.60 | -$0.61 | -$1.17 |
| Diluted (in dollars per share) | $2.05 | $1.56 | -$0.61 | -$1.17 |
| Basic (in shares) | 888.5M | 881.1M | 890.9M | 878.6M |
| Diluted (in shares) | 918.8M | 906.2M | 890.9M | 878.6M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Transaction-based revenues and other revenues | $919.0M | $708.0M | $818.0M | $632.0M |
| Net interest revenues | $389.0M | $359.0M | $456.0M | $357.0M |
| Total net revenues | $1.3B | $1.1B | $1.3B | $989.0M |
| Brokerage and transaction | $62.0M | $60.0M | $56.0M | $48.0M |
| Technology and development | $256.0M | $241.0M | $237.0M | $214.0M |
| Operations | $57.0M | $38.0M | $33.0M | $29.0M |
| Provision for credit losses | $56.0M | $36.0M | $26.0M | $28.0M |
| Marketing | $104.0M | $107.0M | $102.0M | $99.0M |
| General and administrative | $199.0M | $174.0M | $185.0M | $132.0M |
| Total operating expenses | $734.0M | $656.0M | $639.0M | $550.0M |
| Other income, net | $135.0M | $0 | ($1.0M) | $3.0M |
| Income before income taxes | $709.0M | $411.0M | $634.0M | $442.0M |
| Provision for income taxes | $136.0M | $65.0M | $78.0M | $56.0M |
| Net income | $573.0M | $346.0M | — | — |
| Less: Net income (loss) attributable to non-controlling interests | $12.0M | ($4.0M) | — | — |
| Net income attributable to Robinhood | $561.0M | $350.0M | $556.0M | $386.0M |
| Net income attributable to Robinhood Markets, Inc., Basic | $561.0M | $350.0M | $556.0M | $386.0M |
| Net income attributable to Robinhood Markets, Inc., Diluted | $561.0M | $350.0M | $556.0M | $386.0M |
| Basic (in dollars per share) | $0.62 | $0.39 | $0.63 | $0.44 |
| Diluted (in dollars per share) | $0.62 | $0.38 | $0.61 | $0.42 |
| Basic (in shares) | 899.0M | 899.2M | 889.3M | 882.1M |
| Diluted (in shares) | 912.0M | 915.0M | 917.9M | 909.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $4.3B | $4.3B | $4.8B | $6.3B |
| Cash, cash equivalents, and securities segregated under federal and other regulations | $5.7B | $4.7B | — | — |
| Receivables from brokers, dealers, and clearing organizations | $426.0M | $471.0M | $89.0M | $76.0M |
| Receivables from users, net | $18.0B | $8.2B | $3.5B | $3.2B |
| Securities borrowed | $2.4B | $3.2B | $1.6B | $517.0M |
| Deposits with clearing organizations | $702.0M | $489.0M | $338.0M | $186.0M |
| User-held fractional shares | 3.8B | 2.5B | 1.6B | 997.0M |
| Held-to-maturity investments | $0 | $398.0M | $413.0M | — |
| Deferred customer match incentives | $185.0M | $100.0M | — | — |
| Other current assets, including current prepaid expenses of $75 as of December 31, 2024 and $127 as of December 31, 2025 | $798.0M | $509.0M | $207.0M | $72.0M |
| Total current assets | $36.3B | $25.1B | $31.8B | $22.9B |
| Property, software, and equipment, net | $154.0M | $139.0M | $120.0M | $146.0M |
| Goodwill | $385.0M | $179.0M | $175.0M | $100.0M |
| Intangible assets, net | $168.0M | $38.0M | $48.0M | $25.0M |
| Non-current deferred customer match incentives | $428.0M | $195.0M | — | — |
| Other non-current assets, including non-current prepaid expenses of $17 as of December 31, 2024 and $11 as of December 31, 2025 | $697.0M | $533.0M | $122.0M | $132.0M |
| Total assets | $38.1B | $26.2B | $32.3B | $23.3B |
| Accounts payable and accrued expenses | $463.0M | $397.0M | $384.0M | $185.0M |
| Payables to users | $12.0B | $7.4B | $5.1B | $4.7B |
| Securities loaned | $11.6B | $7.5B | $3.5B | $1.8B |
| Fractional shares repurchase obligation | 3.8B | 2.5B | 1.6B | 997.0M |
| Other current liabilities | $914.0M | $266.0M | $217.0M | $105.0M |
| Total current liabilities | $28.8B | $18.1B | $25.5B | $16.3B |
| Other non-current liabilities | $215.0M | $111.0M | $91.0M | $128.0M |
| Total liabilities | $29.0B | $18.2B | $25.6B | $16.4B |
| Preferred stock, $0.0001 par value. 210,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and December 31, 2025. | 0 | 0 | 0 | — |
| Common stock, value | $0 | $0 | $0 | $0 |
| Additional paid-in capital | $11.3B | $12.0B | $12.1B | $11.9B |
| Accumulated other comprehensive income (loss) | $8.0M | ($1.0M) | ($3.0M) | $0 |
| Accumulated deficit | ($2.2B) | ($4.0B) | ($5.4B) | ($4.9B) |
| Non-controlling interest | $11.0M | — | — | — |
| Total stockholders’ equity | $9.2B | $8.0B | $6.7B | $7.0B |
| Total liabilities and stockholders’ equity | $38.1B | $26.2B | $32.3B | $23.3B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.4B | $5.0B | $4.3B | $4.2B |
| Cash, cash equivalents, and securities segregated under federal and other regulations | $12.0B | $10.9B | $8.4B | $8.9B |
| Receivables from brokers, dealers, and clearing organizations | $672.0M | $484.0M | $482.0M | $374.0M |
| Receivables from users, net | $22.8B | $18.1B | $14.4B | $9.7B |
| Securities borrowed | $6.0B | $3.4B | $6.6B | $6.2B |
| Deposits with clearing organizations | $1.2B | $694.0M | $1.4B | $720.0M |
| User-held fractional shares | 4.8B | 3.8B | 3.6B | 3.1B |
| Deferred customer match incentives | $220.0M | $207.0M | $161.0M | $124.0M |
| Other current assets, including current prepaid expenses of $127 as of December 31, 2025 and $196 as of June 30, 2026 | $1.4B | $853.0M | $326.0M | $345.0M |
| Total current assets | $54.5B | $43.4B | $40.0B | $33.8B |
| Property, software, and equipment, net | $177.0M | $162.0M | $150.0M | $149.0M |
| Goodwill | $516.0M | $401.0M | $386.0M | $383.0M |
| Intangible assets, net | $246.0M | $203.0M | $172.0M | $191.0M |
| Non-current deferred customer match incentives | $579.0M | $522.0M | $360.0M | $267.0M |
| Other non-current assets, including non-current prepaid expenses of $11 as of December 31, 2025 and $21 as of June 30, 2026 | $500.0M | $773.0M | $405.0M | $501.0M |
| Total assets | $56.5B | $45.5B | $41.5B | $35.3B |
| Accounts payable and accrued expenses | $646.0M | $522.0M | $399.0M | $369.0M |
| Payables to users | $17.2B | $16.8B | $12.3B | $10.5B |
| Securities loaned | $20.5B | $13.4B | $15.7B | $12.6B |
| Fractional shares repurchase obligation | 4.8B | 3.8B | 3.6B | 3.1B |
| Other current liabilities | $1.4B | $1.0B | $762.0M | $519.0M |
| Total current liabilities | $44.6B | $35.6B | $32.8B | $27.1B |
| Long-term borrowings | $2.2B | — | — | — |
| Other non-current liabilities | $263.0M | $232.0M | $123.0M | $130.0M |
| Total liabilities | $47.0B | $35.8B | $32.9B | $27.3B |
| Preferred stock, $0.0001 par value. 210 million shares authorized, no shares issued and outstanding as of December 31, 2025 and June 30, 2026. | 0 | 0 | 0 | 0 |
| Common stock, value | $0 | $0 | $0 | $0 |
| Additional paid-in capital | $10.7B | $11.1B | $11.3B | $11.4B |
| Accumulated other comprehensive income (loss) | ($10.0M) | $2.0M | $7.0M | $7.0M |
| Accumulated deficit | ($1.2B) | ($1.8B) | ($2.8B) | ($3.3B) |
| Non-controlling interests | $61.0M | $369.0M | — | — |
| Total stockholders’ equity | $9.5B | $9.7B | $8.6B | $8.1B |
| Total liabilities and stockholders’ equity | $56.5B | $45.5B | $41.5B | $35.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $1.9B | $1.4B | ($541.0M) | ($1.0B) |
| Depreciation and amortization | $86.0M | $77.0M | $71.0M | $61.0M |
| Provision for credit losses | $114.0M | $76.0M | $43.0M | $36.0M |
| Deferred income taxes | $181.0M | ($369.0M) | — | — |
| Share-based compensation | $305.0M | $304.0M | $871.0M | $654.0M |
| Other | $3.0M | ($2.0M) | $3.0M | $35.0M |
| Securities segregated under federal and other regulations | $197.0M | ($397.0M) | $0 | $0 |
| Receivables from brokers, dealers, and clearing organizations | $62.0M | ($382.0M) | ($13.0M) | $12.0M |
| Receivables from users, net | ($9.1B) | ($4.6B) | ($298.0M) | $3.4B |
| Securities borrowed | $828.0M | ($1.6B) | ($1.1B) | ($517.0M) |
| Deposits with clearing organizations | ($213.0M) | ($151.0M) | ($152.0M) | $142.0M |
| Current and non-current prepaid expenses | ($28.0M) | ($25.0M) | $37.0M | $33.0M |
| Current and non-current deferred customer match incentives | ($318.0M) | ($265.0M) | — | — |
| Other current and non-current assets | ($152.0M) | ($415.0M) | ($48.0M) | ($26.0M) |
| Accounts payable and accrued expenses | ($18.0M) | ($35.0M) | $134.0M | ($62.0M) |
| Payables to users | $3.4B | $2.4B | $396.0M | ($1.8B) |
| Securities loaned | $4.2B | $3.9B | $1.7B | ($1.8B) |
| Other current and non-current liabilities | $228.0M | ($27.0M) | $45.0M | ($31.0M) |
| Net cash provided by (used in) operating activities | $1.6B | ($157.0M) | $1.2B | ($852.0M) |
| Purchases of property, software, and equipment | ($15.0M) | ($13.0M) | ($2.0M) | — |
| Capitalization of internally developed software | ($39.0M) | ($37.0M) | ($19.0M) | ($29.0M) |
| Consideration transferred for business acquisitions and asset acquisitions | ($399.0M) | — | — | — |
| Cash, cash equivalents, and segregated cash acquired in business acquisitions and asset acquisitions | $1.2B | — | — | — |
| Purchases of non-marketable securities | ($244.0M) | — | — | — |
| Purchases of held-to-maturity investments | $0 | ($556.0M) | ($759.0M) | — |
| Proceeds from maturities of held-to-maturity investments | $400.0M | $658.0M | $282.0M | — |
| Purchases of credit card receivables by Credit Card Funding Trust | ($5.2B) | ($748.0M) | — | — |
| Collections of purchased credit card receivables | $4.4B | $556.0M | — | — |
| Other | $0 | $1.0M | ($1.0M) | ($20.0M) |
| Net cash provided by (used in) investing activities | $141.0M | ($148.0M) | ($582.0M) | ($60.0M) |
| Proceeds from exercise of stock options | $16.0M | $18.0M | $5.0M | $6.0M |
| Proceeds from issuance of common stock under the Employee Share Purchase Plan | $22.0M | $16.0M | $14.0M | $16.0M |
| Taxes paid related to net share settlement of equity awards | ($437.0M) | ($244.0M) | ($12.0M) | ($12.0M) |
| Repurchase of Class A common stock | ($653.0M) | ($257.0M) | ($608.0M) | — |
| Draws on credit facilities | $4.8B | $22.0M | $20.0M | $21.0M |
| Repayments on credit facilities | ($4.8B) | ($22.0M) | ($20.0M) | ($21.0M) |
| Borrowings by the Credit Card Funding Trust | $468.0M | $132.0M | — | — |
| Repayments on borrowings by the Credit Card Funding Trust | $0 | ($1.0M) | — | — |
| Change in principal collected from customers due to Coastal Bank | $0 | $6.0M | $1.0M | — |
| Payments of debt issuance costs | ($17.0M) | ($15.0M) | ($10.0M) | ($10.0M) |
| Contributions from noncontrolling interests | $11.0M | — | — | — |
| Net cash used in financing activities | ($590.0M) | ($345.0M) | ($610.0M) | $0 |
| Effect of foreign exchange rate changes on cash and cash equivalents | $9.0M | ($1.0M) | $0 | ($1.0M) |
| Net increase (decrease) in cash, cash equivalents, segregated cash, and restricted cash | $1.2B | ($651.0M) | ($11.0M) | ($913.0M) |
| Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Beginning Balance | $8.7B | $9.3B | $9.4B | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $919.0M | $346.0M | $1.3B | $722.0M |
| Depreciation and amortization | $46.0M | $23.0M | $63.0M | $41.0M |
| Provision for credit losses | $92.0M | $36.0M | $78.0M | $52.0M |
| Deferred income taxes | $2.0M | $34.0M | — | — |
| Share-based compensation | $197.0M | $92.0M | $229.0M | $151.0M |
| Gain on deconsolidation of RVI | ($106.0M) | — | — | — |
| Unrealized and realized (gain) loss on equity securities, net | ($23.0M) | — | — | — |
| Other | $4.0M | $3.0M | $13.0M | $8.0M |
| Securities segregated under federal and other regulations | ($3.6B) | ($4.0B) | ($1.2B) | $199.0M |
| Receivables from brokers, dealers, and clearing organizations | ($250.0M) | ($60.0M) | $19.0M | $112.0M |
| Receivables from users, net | ($4.5B) | ($44.0M) | ($5.8B) | ($1.3B) |
| Securities borrowed | ($3.6B) | ($947.0M) | ($3.4B) | ($2.9B) |
| Deposits with clearing organizations | ($538.0M) | $8.0M | ($951.0M) | ($231.0M) |
| Current and non-current prepaid expenses | ($65.0M) | ($54.0M) | ($42.0M) | ($24.0M) |
| Current and non-current deferred customer match incentives | ($186.0M) | ($116.0M) | ($226.0M) | ($96.0M) |
| Other current and non-current assets | $73.0M | $138.0M | $437.0M | $351.0M |
| Accounts payable and accrued expenses | ($2.0M) | ($69.0M) | ($75.0M) | ($112.0M) |
| Payables to users | $5.2B | $4.8B | $3.8B | $1.9B |
| Securities loaned | $8.9B | $1.8B | $8.2B | $5.2B |
| Other current and non-current liabilities | $166.0M | $47.0M | $173.0M | $76.0M |
| Net cash provided by operating activities | $2.8B | $2.0B | $2.6B | $4.2B |
| Purchases of property, software, and equipment | ($21.0M) | ($9.0M) | ($13.0M) | ($10.0M) |
| Capitalization of internally developed software | ($21.0M) | ($9.0M) | ($28.0M) | ($19.0M) |
| Consideration transferred for business acquisitions and asset acquisitions | ($249.0M) | ($71.0M) | — | — |
| Cash, cash equivalents, and segregated cash acquired in business acquisitions and asset acquisitions | $95.0M | $18.0M | $1.2B | $1.2B |
| Purchases of non-marketable securities | ($228.0M) | ($92.0M) | — | — |
| Proceeds from maturities of held-to-maturity investments | $0 | $0 | $347.0M | $266.0M |
| Purchases of credit card receivables by Credit Card Funding Trust | ($6.2B) | ($2.5B) | ($2.9B) | ($1.5B) |
| Collections of purchased credit card receivables | $5.7B | $2.4B | $2.5B | $1.3B |
| Proceeds from sales of investment in RVI | $28.0M | — | — | — |
| Cash derecognized upon deconsolidation of RVI | ($220.0M) | — | — | — |
| Net cash provided by (used in) investing activities | ($1.1B) | ($284.0M) | $699.0M | $841.0M |
| Proceeds from issuance of convertible senior notes | $2.2B | — | — | — |
| Proceeds from exercise of stock options | $3.0M | $2.0M | $14.0M | $11.0M |
| Proceeds from issuance of RVI common stock in connection with initial public offering, net of offering costs | $312.0M | $312.0M | — | — |
| Proceeds from issuance of common stock under the Employee Share Purchase Plan | $17.0M | — | $15.0M | $15.0M |
| Taxes paid related to net share settlement of equity awards | ($23.0M) | ($13.0M) | ($413.0M) | ($372.0M) |
| Repurchase of Class A common stock | ($664.0M) | ($250.0M) | ($553.0M) | ($446.0M) |
| Draws on credit facilities | $2.5B | — | $2.7B | $1.0M |
| Repayments on credit facilities | ($2.5B) | — | ($2.7B) | ($1.0M) |
| Borrowings by the Credit Card Funding Trust | $382.0M | $117.0M | $245.0M | $104.0M |
| Change in principal collected from customers due to Coastal Bank | ($3.0M) | ($2.0M) | $0 | $1.0M |
| Repayments on borrowings by the Credit Card Funding Trust | ($25.0M) | ($15.0M) | $0 | $0 |
| Payments of debt issuance costs | ($31.0M) | ($12.0M) | ($16.0M) | ($16.0M) |
| Purchase of Capped Calls | ($123.0M) | — | — | — |
Robinhood Markets, Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.