Robinhood Markets Inc. Class A Common Stock (HOOD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.43	$0.62	+44.2%	—	$1.3B	—
Q1 26	$0.43	$0.47	+9.3%	—	$1.1B	—
Q3 25	$0.54	$0.61	+13.0%	—	$1.3B	—
Q2 25	$0.31	$0.42	+35.5%	—	$989M	—
Q1 25	$0.37	$0.44	+18.9%	—	$927M	—
Q4 24	$0.52	$1.04	+100.0%	—	$1B	—
Q3 24	$0.18	$0.17	-5.6%	—	$637M	—
Q2 24	$0.26	$0.3	+15.4%	—	$682M	—
Q1 24	$0.06	$0.18	+200.0%	—	$618M	—
Q4 23	$0.07	$0.13	+85.7%	—	$471M	—
Q3 23	-$0.1	-$0.09	+10.0%	—	$467M	—
Q2 23	-$0.01	$0.03	+400.0%	—	$486M	—
Q1 23	-$0.61	-$0.57	+6.6%	—	$441M	—
Q4 22	-$0.14	-$0.11	+21.4%	—	$380M	—
Q3 22	-$0.31	-$0.2	+35.5%	—	$361M	—
Q2 22	-$0.37	-$0.32	+13.5%	—	$318M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.12	—	—	$4.5B	—
FY24	—	$1.6	—	—	$3B	—
FY23	—	-$0.61	—	—	$1.9B	—
FY22	—	-$1.17	—	—	$1.4B	—
FY21	—	-$7.49

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$277.5M	$958M	$1.8B	$1.4B	$1.9B	$3B	$4.5B
YoY change	—	+245.2%	+89.5%	-25.2%	+37.3%	+58.2%	+51.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	277.5M	958M	1.8B	1.4B	1.9B	3B	4.5B
Cost of revenue	93.2M	237M	509M	583M	452M	504M	745M
Gross profit	184.3M	721M	1.3B	775M	1.4B	2.4B	3.7B
Gross margin	66.4%	75.3%	72%	57.1%	75.8%	82.9%	83.3%
Research & development	94.9M	215M	1.2B	878M	805M	818M	897M
Selling, general & administrative	174.1M	394M	1.5B	730M	1.1B	464M	576M
Operating expenses	280.2M	647M	2.8B	1.7B	1.9B	1.3B	1.5B
Operating income	-106.9M	13M	-1.6B	-966M	-531M	1.1B	2.1B
Operating margin	-38.5%	1.36%	-90.4%	-71.1%	-28.5%	35.8%	46.8%
Non-operating income, net	-657K	-105.4M	-2B	-61M	-2M	8M	14M
Pretax income	-107.6M	13M	-3.7B	-1B	-533M	1.1B	2.1B
Income tax	-1M	6M	2M	1M	8M	-347M	225M
Net income	-106.6M	7M	-3.7B	-1B	-541M	1.4B	1.9B
Net margin	-38.4%	0.73%	-203.1%	-75.7%	-29%	47.8%	42.1%
EBITDA	-101.5M	23M	430M	-860M	-455M	1.1B	2.2B
EPS	-0.15	0	-7.49	-1.17	-0.61	1.6	2.12
Diluted EPS	-0.15	0	-7.49	-1.17	-0.61	1.56	2.05

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	467M	471M	618M	682M	637M	1B	927M	989M	1.3B	1.3B	1.1B	1.3B
Cost of revenue	113M	103M	116M	123M	121M	144M	134M	141M	169M	301M	207M	236M
Gross profit	354M	368M	502M	559M	516M	870M	793M	848M	1.1B	982M	860M	1.1B
Gross margin	75.8%	78.1%	81.2%	82%	81%	85.8%	85.5%	85.7%	86.7%	76.5%	80.6%	82%
Research & development	202M	197M	196M	209M	205M	208M	214M	214M	237M	232M	241M	256M
Selling, general & administrative	204M	119M	123M	134M	129M	76M	172M	157M	196M	49M	158M	159M
Operating expenses	413M	322M	325M	351M	342M	293M	397M	381M	444M	296M	413M	442M
Operating income	-73M	30M	160M	189M	151M	558M	372M	439M	635M	650M	411M	574M
Operating margin	-15.6%	6.37%	25.9%	27.7%	23.7%	55%	40.1%	44.4%	49.8%	50.7%	38.5%	43.9%
Non-operating income, net	-2M	-1M	2M	2M	2M	0	-1M	3M	-1M	11M	—	135M
Pretax income	-75M	29M	162M	191M	153M	558M	371M	442M	634M	661M	411M	709M
Income tax	10M	-1M	5M	3M	3M	-358M	35M	56M	78M	56M	65M	136M
Net income	-85M	30M	157M	188M	150M	916M	336M	386M	556M	605M	346M	573M
Net margin	-18.2%	6.37%	25.4%	27.6%	23.5%	90.3%	36.2%	39%	43.6%	47.2%	32.4%	43.8%
EBITDA	-54M	51M	179M	207M	171M	580M	394M	460M	657M	673M	434M	597M
EPS	-0.09	0.03	0.18	0.21	0.17	1.04	0.37	0.44	0.63	0.67	0.39	0.62
Diluted EPS	-0.09	0.03	0.18	0.21	0.17	1.01	0.37	0.42	0.61	0.66	0.38	0.62

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	11.3B	32.8B	100.5B	104.7B
Enterprise value	—	—	—	—	6.5B	29.8B	101.7B	106.4B
Shares outstanding	724.3M	724.3M	492.4M	878.6M	890.9M	881.1M	888.5M	888.5M

Valuation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	23.3	53.4	51.5
P/S	—	—	—	—	6.09	11.1	22.5	21.2
P/B	—	—	—	—	1.69	4.12	11	11
EV/EBITDA	—	—	—	—	-14.2	26.3	46.6	48.8
EV/Sales	—	—	—	—	3.46	10.1	22.7	21.6
Earnings yield	—	—	—	—	—	4.3%	1.87%	1.94%
FCF yield	—	—	—	—	10.2%	-0.63%	1.58%	7.25%
PEG	—	—	—	—	—	—	—	1.26

Profitability

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	66.4%	75.3%	72%	57.1%	75.8%	82.9%	83.3%	82%
Operating margin	-38.5%	1.36%	-90.4%	-71.1%	-28.5%	35.8%	46.8%	43.9%
Net margin	-38.4%	0.73%	-203.1%	-75.7%	-29%	47.8%	42.1%	42%
ROE	109.8%	-12.7%	-50.6%	-14.8%	-8.08%	17.7%	20.6%	23.6%
ROA	-2.7%	0.06%	-18.7%	-4.41%	-1.67%	5.39%	4.94%	4.53%
ROIC	152.6%	-2.06%	-57.4%	-103.1%	-29.5%	21.4%	18.1%	12.2%
Return on tangible assets	-2.7%	0.06%	-18.9%	-4.45%	-1.7%	5.48%	5.08%	3.78%

Financial health

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.25	1.23	1.56	1.41	1.24	1.39	1.26	1.12
Quick ratio	1.25	1.23	1.56	1.41	1.24	1.39	1.26	1.22
Debt / equity	-6.95	-34.7	0.5	0.26	0.53	0.94	1.27	2.4
Debt / assets	0.17	0.17	0.18	0.08	0.11	0.28	0.3	0.4
Net debt / EBITDA	-0.27	-12.3	-10.3	7	10.8	-2.67	0.54	2.77
Interest coverage	-107.9	2.66	—	—	—	—	—	—
Effective tax rate	0%	46.2%	0%	0%	0%	0%	10.7%	13.9%

Per share

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.38	1.32	3.69	1.55	2.09	3.35	5.03	5.5
EPS (basic)	-0.15	0	-7.49	-1.17	-0.61	1.6	2.12	2.12
EPS (diluted)	-0.15	0	-7.49	-1.17	-0.61	1.56	2.05	2.26
Book value per share	-0.13	-0.08	14.8	7.92	7.52	9.05	10.3	10.5
FCF per share	1.72	2.55	-1.97	-1.03	1.3	-0.23	1.78	0.2
Cash per share	0.89	3.04	16.4	8.94	9.48	11.9	11.8	26.6
Capex per share	0.01	0.03	0.13	0.03	0	0.01	0.04	0.04

Capital allocation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.61%	2.51%	3.47%	2.06%	0.11%	0.44%	0.87%	0.83%
Capex / operating cash flow	1.63%	-1.49%	-4.83%	4.2%	0.23%	-0.54%	2.38%	16.7%
Payout ratio	—	—	—	—	—	—	—	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	647M	2.2B	8.1B	7.9B	8.4B	10.5B	10.5B
Receivables	660.9M	3.5B	6.7B	3.3B	3.6B	8.7B	18.4B
Inventory	—	—	—	—	—	—	—
Total current assets	3.9B	10.9B	19.3B	22.9B	31.8B	25.1B	36.3B
Property, plant & equipment	25.3M	45.8M	210.3M	146M	120M	139M	154M
Goodwill & intangibles	—	370K	270M	250M	446M	434M	1.1B
Total assets	3.9B	11B	19.8B	23.3B	32.3B	26.2B	38.1B
Accounts payable	37.6M	104.6M	252M	185M	384M	397M	463M
Short-term debt	674M	1.9B	3.7B	1.8B	3.5B	7.5B	11.6B
Total current liabilities	3.1B	8.8B	12.3B	16.3B	25.5B	18.1B	28.8B
Long-term debt	—	—	—	—	—	—	—
Total liabilities	4B	11B	12.5B	16.4B	25.6B	18.2B	29B
Shareholders' equity	-97M	-55.3M	7.3B	7B	6.7B	8B	9.2B
Total debt	674M	1.9B	3.7B	1.8B	3.5B	7.5B	11.6B
Net debt	30M	518.5M	-2.6B	-4.5B	-1.3B	3.1B	7.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	7.9B	8.4B	9.3B	9.3B	11B	10.5B	11.3B	13.5B	14.6B	10.5B	12.2B	16.2B
Receivables	3.8B	3.6B	4.5B	5.2B	5.7B	8.7B	9.4B	10.1B	14.9B	18.4B	18.6B	23.5B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	25.7B	31.8B	45.5B	40.7B	42.6B	25.1B	26.2B	33.8B	40B	36.3B	43.4B	54.5B
Property, plant & equipment	—	120M	—	—	—	139M	—	—	—	154M	—	—
Goodwill & intangibles	434M	446M	442M	448M	436M	434M	802M	1.1B	1.1B	1.1B	1.2B	1.5B
Total assets	26.3B	32.3B	46.1B	41.3B	43.2B	26.2B	27.5B	35.3B	41.5B	38.1B	45.5B	56.5B
Accounts payable	373M	384M	351M	386M	443M	397M	319M	369M	399M	463M	522M	646M
Short-term debt	3.2B	3.5B	4.2B	5.1B	7.3B	7.5B	9.1B	12.6B	15.7B	11.6B	13.4B	20.5B
Total current liabilities	19.6B	25.5B	39.1B	34.1B	36B	18.1B	19.4B	27.1B	32.8B	28.8B	35.6B	44.6B
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	2.2B
Total liabilities	19.7B	25.6B	39.2B	34.2B	36B	18.2B	19.6B	27.3B	32.9B	29B	35.8B	47B
Shareholders' equity	6.6B	6.7B	6.9B	7.1B	7.2B	8B	8B	8.1B	8.6B	9.2B	9.7B	9.5B
Total debt	3.2B	3.5B	4.2B	5.1B	7.3B	7.5B	9.1B	12.6B	15.7B	11.6B	13.4B	22.7B
Net debt	-1.6B	-1.3B	-502M	567M	2.7B	3.1B	4.7B	8.5B	11.3B	7.4B	8.4B	17.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-106.6M	7M	-3.7B	-1B	-541M	1.4B	1.9B
Depreciation & amortization	5.4M	10M	26M	61M	71M	77M	86M
Stock-based compensation	26.7M	24M	1.6B	654M	871M	304M	305M
Change in working capital	520.4M	-1.7B	-1.3B	945M	448M	-3.8B	-4.1B
Operating cash flow	445.5M	-1.6B	-1.3B	667M	852M	-2.4B	1.6B
Capital expenditure	-7.3M	-24M	-63M	-28M	-2M	-13M	-39M
Investing cash flow	-7M	-24M	-218M	-31M	-563M	-111M	156M
Dividends paid	—	—	—	—	—	—	—
Share repurchases	—	—	0	0	-608M	-257M	-653M
Financing cash flow	235.7M	329M	6.8B	-43M	-649M	-379M	-628M
Net change in cash	674.3M	-1.3B	5.2B	593M	-360M	-2.9B	1.2B
Free cash flow	1.2B	1.8B	-968M	-909M	1.2B	-207M	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-85M	30M	157M	188M	150M	916M	336M	386M	556M	605M	346M	573M
Depreciation & amortization	19M	17M	17M	18M	20M	22M	20M	21M	22M	23M	23M	23M
Stock-based compensation	83M	81M	62M	86M	79M	77M	73M	78M	78M	76M	92M	105M
Change in working capital	-160M	63M	-1.6B	16M	998M	-3.2B	682M	802M	-3.3B	-2.3B	-3.2B	277M
Operating cash flow	-143M	233M	-1.4B	308M	1.2B	-2.2B	1.1B	3.5B	-1.6B	-937M	2B	720M
Capital expenditure	-1M	-1M	-2M	0	-7M	-4M	-2M	-10M	-9M	-11M	-9M	-12M
Investing cash flow	-92M	3M	-40M	-5M	-111M	45M	18M	840M	-139M	-556M	-275M	-758M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	0	—	—	-97M	-160M	-322M	-124M	-107M	-100M	-250M	-414M
Financing cash flow	-17M	1M	-34M	-72M	-98M	-180M	-424M	-306M	-2.7B	2.8B	178M	1.9B
Net change in cash	-252M	237M	-1.4B	231M	1B	-2.4B	709M	4B	-4.4B	1.3B	1.9B	1.9B
Free cash flow	-983M	954M	-632M	47M	1.8B	-1.4B	631M	3.5B	-1.6B	-950M	2B	696M

Robinhood Markets Inc. Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement