Press release
Robinhood Reports Second Quarter 2021 Results
MENLO PARK, Calif., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced financial results for the second
About this update from Robinhood Markets, Inc.
[{"type":"text","content":"MENLO PARK, Calif., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced financial results for the second quarter ended June 30, 2021. Total net revenues increased 131% to $565 million in the second quarter of 2021, compared with $244 million in the second quarter of 2020.Transaction-based revenues increased 141% to $451 million in the second quarter of 2021, compared with $187 million in the second quarter of 2020. Options increased 48% to $165 million in the second quarter of 2021, compared with $111 million in the second quarter of 2020.Cryptocurrencies increased to $233 million in the second quarter of 2021, compared to $5 million in the second quarter of 2020.Equities transaction-based revenue decreased 26% to $52 million in the second quarter of 2021, compared with $71 million in the second quarter of 2020. Loss before income taxes was $464 million in the second quarter of 2021, compared with income before taxes of $58 million in the second quarter of 2020. Costs associated with the change in fair value of convertible notes and warrant liability totaled $528 million in the second quarter of 2021.Net loss was $502 million in the second quarter of 2021, or $2.16 per diluted share, compared with net income of $58 million, or $0.09 per diluted share in the second quarter of 2020.Adjusted EBITDA (non-GAAP) was $90 million in the second quarter of 2021, compared with $63 million in the second quarter of 2020.Net Cumulative Funded Accounts increased 130% to 22.5 million in the second quarter of 2021, compared with 9.8 million in the second quarter of 2020.Monthly Active Users (MAU) increased 109% to 21.3 million in the second quarter of 2021, compared with 10.2 million in the second quarter of 2020.Assets Under Custody (AUC) increased 205% to $102 billion in the second quarter of 2021, compared with $33 billion in the second quarter of 2020.Average Revenues Per User (ARPU) was $112 in the second quarter of 2021, compared with $115 in the second quarter of 2020. “We’re encouraged by the number of people who are accessing the financial system for the first time through Robinhood,” said Vlad Tenev, CEO and Co-Founder of Robinhood. “We’re happy to expand access through products like commission-free crypto trading, which saw strong growth this quarter among women investors in particula...