๐น EPS: $0.37 (Est. $0.36) ๐ข; UP +106% YoY
๐น Revenue: $927M (Est. $921.7M) ๐ข; UP +50% YoY
๐น Adj EBITDA: $470M (Est. $486.3M) ๐ด; UP +90% YoY
๐น Buyback Authorization Raised: +$500M to $1.5B Total
FY25 Outlook
๐น Adjusted Operating Expenses and SBC: $2.085Bโ$2.185B (Updated from $2.0Bโ$2.1B to reflect TradePMR costs)
Q1 Segment Revenue Breakdown
๐น Net Interest: $290M (Est. $305.7M) ๐ด; +14% YoY
๐น Other: $54M (Est. $57.1M) ๐ด; +54% YoY
๐น Transaction-Based Revenue: $583M;+77% YoY
๐น Crypto Revenue: $252M;+100% YoY
๐น Options Revenue: $240M;+56% YoY
๐น Equities Revenue: $56M; +44% YoY
Customer and Platform Metrics
๐น Net Deposits: $18.0B; Record High
๐น Funded Customers: 25.8M; UP +8% YoY
๐น Investment Accounts: 27.0M; UP +11% YoY
๐น Robinhood Gold Subscribers: 3.2M; UP +90% YoY
๐น Average Revenue Per User (ARPU): $145; UP +39% YoY
๐น Total Platform Assets: $221B; UP +70% YoY
Operating Metrics
๐น Retirement Assets Under Custody (AUC): $14.4B; UP +200% YoY
๐น Cash Sweep Balances: $28.2B; UP +48% YoY
๐น Margin Book: $8.8B; UP +115% YoY
๐น Equity Notional Trading Volume: $413B; UP +84% YoY
๐น Options Contracts Traded: 500M; UP +46% YoY
๐น Crypto Trading Volume: $46B; UP +28% YoY
Capital Returns
๐น Share Buybacks: $322M (7.2M shares repurchased @ avg $44.87)
๐น Buyback Authorization Raised: +$500M to $1.5B Total
๐น Total Repurchased So Far: $667M (20M shares @ avg $33.40)
๐น Adj Oper Expenses: $460M (Est. $450.7M); UP +16% YoY
๐น Cash & Cash Equivalents: $4.4B (vs. $4.7B YoY)
CEO Vlad Tenev's Commentary
๐ธ "We significantly accelerated product innovation across key initiatives including Robinhood Strategies, Banking, and Cortex. Customers responded with record-breaking net deposits, Gold subscriptions, and trading volume across all asset classes."
CFO Jason Warnick's Commentary
๐ธ "We began the year strong with 50% YoY revenue growth and 106% EPS growth, alongside disciplined expense management. Weโre also returning capital aggressively with expanded share repurchases, signaling confidence in our long-term growth."
Strategic & Operational Highlights
๐ธ Announced advanced trader tools in Robinhood Legend, support for index options and crypto, and launched prediction markets โ over 1B event contracts traded in six months.
๐ธ Robinhood Strategies already managing over $100M in customer assets, serving 40K+ clients.
๐ธ Closed acquisition of TradePMR with $41B in assets managed by RIAs.
๐ธ Bitstamp acquisition on track to close mid-2025.
๐ธ 150K+ customers across UK and EU โ continues global expansion.