$HOOD (-3.22%)
🔹 EPS: $0.37 (Est. $0.36) 🟢; UP +106% YoY
🔹 Revenue: $927M (Est. $921.7M) 🟢; UP +50% YoY
🔹 Adj EBITDA: $470M (Est. $486.3M) 🔴; UP +90% YoY
🔹 Buyback Authorization Raised: +$500M to $1.5B Total
FY25 Outlook
🔹 Adjusted Operating Expenses and SBC: $2.085B–$2.185B (Updated from $2.0B–$2.1B to reflect TradePMR costs)
Q1 Segment Revenue Breakdown
🔹 Net Interest: $290M (Est. $305.7M) 🔴; +14% YoY
🔹 Other: $54M (Est. $57.1M) 🔴; +54% YoY
🔹 Transaction-Based Revenue: $583M;+77% YoY
🔹 Crypto Revenue: $252M;+100% YoY
🔹 Options Revenue: $240M;+56% YoY
🔹 Equities Revenue: $56M; +44% YoY
Customer and Platform Metrics
🔹 Net Deposits: $18.0B; Record High
🔹 Funded Customers: 25.8M; UP +8% YoY
🔹 Investment Accounts: 27.0M; UP +11% YoY
🔹 Robinhood Gold Subscribers: 3.2M; UP +90% YoY
🔹 Average Revenue Per User (ARPU): $145; UP +39% YoY
🔹 Total Platform Assets: $221B; UP +70% YoY
Operating Metrics
🔹 Retirement Assets Under Custody (AUC): $14.4B; UP +200% YoY
🔹 Cash Sweep Balances: $28.2B; UP +48% YoY
🔹 Margin Book: $8.8B; UP +115% YoY
🔹 Equity Notional Trading Volume: $413B; UP +84% YoY
🔹 Options Contracts Traded: 500M; UP +46% YoY
🔹 Crypto Trading Volume: $46B; UP +28% YoY
Capital Returns
🔹 Share Buybacks: $322M (7.2M shares repurchased @ avg $44.87)
🔹 Buyback Authorization Raised: +$500M to $1.5B Total
🔹 Total Repurchased So Far: $667M (20M shares @ avg $33.40)
🔹 Adj Oper Expenses: $460M (Est. $450.7M); UP +16% YoY
🔹 Cash & Cash Equivalents: $4.4B (vs. $4.7B YoY)
CEO Vlad Tenev's Commentary
🔸 "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
🔸 "We began the year strong with 50% YoY revenue growth and 106% EPS growth, alongside disciplined expense management. We’re also returning capital aggressively with expanded share repurchases, signaling confidence in our long-term growth."
Strategic & Operational Highlights
🔸 Announced advanced trader tools in Robinhood Legend, support for index options and crypto, and launched prediction markets — over 1B event contracts traded in six months.
🔸 Robinhood Strategies already managing over $100M in customer assets, serving 40K+ clients.
🔸 Closed acquisition of TradePMR with $41B in assets managed by RIAs.
🔸 Bitstamp acquisition on track to close mid-2025.
🔸 150K+ customers across UK and EU — continues global expansion.
