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Robinhood Q1'25 Earnings Highlights

$HOOD (+9.49%)


๐Ÿ”น EPS: $0.37 (Est. $0.36) ๐ŸŸข; UP +106% YoY

๐Ÿ”น Revenue: $927M (Est. $921.7M) ๐ŸŸข; UP +50% YoY

๐Ÿ”น Adj EBITDA: $470M (Est. $486.3M) ๐Ÿ”ด; UP +90% YoY

๐Ÿ”น Buyback Authorization Raised: +$500M to $1.5B Total


FY25 Outlook

๐Ÿ”น Adjusted Operating Expenses and SBC: $2.085Bโ€“$2.185B (Updated from $2.0Bโ€“$2.1B to reflect TradePMR costs)


Q1 Segment Revenue Breakdown

๐Ÿ”น Net Interest: $290M (Est. $305.7M) ๐Ÿ”ด; +14% YoY

๐Ÿ”น Other: $54M (Est. $57.1M) ๐Ÿ”ด; +54% YoY

๐Ÿ”น Transaction-Based Revenue: $583M;+77% YoY

๐Ÿ”น Crypto Revenue: $252M;+100% YoY

๐Ÿ”น Options Revenue: $240M;+56% YoY

๐Ÿ”น Equities Revenue: $56M; +44% YoY


Customer and Platform Metrics

๐Ÿ”น Net Deposits: $18.0B; Record High

๐Ÿ”น Funded Customers: 25.8M; UP +8% YoY

๐Ÿ”น Investment Accounts: 27.0M; UP +11% YoY

๐Ÿ”น Robinhood Gold Subscribers: 3.2M; UP +90% YoY

๐Ÿ”น Average Revenue Per User (ARPU): $145; UP +39% YoY

๐Ÿ”น Total Platform Assets: $221B; UP +70% YoY


Operating Metrics

๐Ÿ”น Retirement Assets Under Custody (AUC): $14.4B; UP +200% YoY

๐Ÿ”น Cash Sweep Balances: $28.2B; UP +48% YoY

๐Ÿ”น Margin Book: $8.8B; UP +115% YoY

๐Ÿ”น Equity Notional Trading Volume: $413B; UP +84% YoY

๐Ÿ”น Options Contracts Traded: 500M; UP +46% YoY

๐Ÿ”น Crypto Trading Volume: $46B; UP +28% YoY


Capital Returns

๐Ÿ”น Share Buybacks: $322M (7.2M shares repurchased @ avg $44.87)

๐Ÿ”น Buyback Authorization Raised: +$500M to $1.5B Total

๐Ÿ”น Total Repurchased So Far: $667M (20M shares @ avg $33.40)

๐Ÿ”น Adj Oper Expenses: $460M (Est. $450.7M); UP +16% YoY

๐Ÿ”น Cash & Cash Equivalents: $4.4B (vs. $4.7B YoY)


CEO Vlad Tenev's Commentary

๐Ÿ”ธ "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

๐Ÿ”ธ "We began the year strong with 50% YoY revenue growth and 106% EPS growth, alongside disciplined expense management. Weโ€™re also returning capital aggressively with expanded share repurchases, signaling confidence in our long-term growth."


Strategic & Operational Highlights

๐Ÿ”ธ 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.

๐Ÿ”ธ Robinhood Strategies already managing over $100M in customer assets, serving 40K+ clients.

๐Ÿ”ธ Closed acquisition of TradePMR with $41B in assets managed by RIAs.

๐Ÿ”ธ Bitstamp acquisition on track to close mid-2025.

๐Ÿ”ธ 150K+ customers across UK and EU โ€” continues global expansion.

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