Business
Robinhood Reports Fourth Quarter and Full Year 2025 Results
Record Revenues of $4.5 billion in 2025, including a record $1.28 billion in Q4Record Diluted EPS of $2.05 in 2025, including $0.66 in Q4Record Net Deposits
About this update from Robinhood Markets, Inc.
[{"type":"text","content":"Record Revenues of $4.5 billion in 2025, including a record $1.28 billion in Q4Record Diluted EPS of $2.05 in 2025, including $0.66 in Q4Record Net Deposits of $68 billion in 2025, including $16 billion in Q4Robinhood Gold Subscribers reached a record 4.2 million MENLO PARK, Calif., Feb. 10, 2026 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced financial results for the fourth quarter and full year of 2025, which ended December 31, 2025. “Our vision hasn’t changed: we are building the Financial SuperApp,” said Vlad Tenev, Chairman and CEO of Robinhood. “2025 was a record year where we set new highs for net deposits, Gold Subscribers, trading volumes, revenues, and profits, and we closed the year with a strong Q4,” said Shiv Verma, Chief Financial Officer of Robinhood. “2026 is off to a strong start, and we are incredibly excited about our plan and momentum for the year ahead as we focus on shipping great products for customers and driving profitable growth for shareholders.” Fourth Quarter Results Total net revenues increased 27% year-over-year to $1.28 billion. Transaction-based revenues increased 15% year-over-year to $776 million, primarily driven by other transaction revenue of $147 million, up over 300%, options revenue of $314 million, up 41%, and equities revenue of $94 million, up 54%, partially offset by cryptocurrencies revenue of $221 million, down 38%.Net interest revenues increased 39% year-over-year to $411 million, primarily driven by growth in interest-earning assets and securities lending activity, partially offset by lower short-term interest rates.Other revenues increased 109% year-over-year to $96 million, primarily driven by Robinhood Gold subscription revenue of $50 million, up 56%. Net income was $605 million, which compares to $916 million in Q4 2024 that included a $424 million benefit from the Q4 2024 Tax Benefit and Regulatory Accrual Reversal.Diluted earnings per share (“EPS”) was $0.66, which compares to $1.01 in Q4 2024 that included a $0.47 benefit from the Q4 2024 Tax Benefit and Regulatory Accrual Reversal.Total operating expenses increased 38% year-over-year to $633 million. The year-over-year increase was primarily driven by marketing and growth investments, and acquisition-related expenses. Adjusted Operating Expenses and Share-Based Compensation (“SBC”)...