⠀
📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬
• Adj. EPS: $0.60 (Est. $0.64) ❌, -3% YoY.
• Revenue: $1.42B (Est. $1.43B) ❌, +12% YoY.
• GAAP EPS: $0.51, -16% YoY.
• Net Income: $476M, -14% YoY.
• Adj. EBITDA: $808M, +9% YoY.
• Transaction Revenue: $867M, +19% YoY.
• Crypto Revenue: $120M, -55% YoY.
• Options Revenue: $399M, +31% YoY.
• Equities Revenue: $121M, +41% YoY.
• Net Interest Revenue: $415M, -9% YoY.
• Platform Assets: $396B, +19% YoY.
• Funded Customers: 28.7M, +7% YoY.
• Gold Subscribers: 5.2M, +34% YoY.
⠀
🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞
• FY2026 Adj. Operating Expenses & SBC: $2.675B–$2.75B, upper end lowered from $2.775B.
⠀
📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬
• Q3 Adj. EPS missed consensus by ~6.3%, while revenue fell ~0.7% below estimates.
• Record revenue of $1.42B was driven by strong options, equities and prediction market activity.
• Crypto revenue plunged 55% YoY to $120M, partially offsetting growth in other transaction businesses.
• Event contracts generated $173M in revenue, up more than 6x YoY, with 16.4B contracts traded.
• Robinhood Gold subscribers surged 34% to 5.2M, while customer assets reached $396B.
• Net deposits totaled $15.7B in Q3 and exceeded $13B in October month-to-date.
• Earnings included $67M in unrealized investment losses, primarily related to Robinhood Ventures Fund I.
• Robinhood introduced 24/7 trading for select U.S. equities and reported 200K agentic trading accounts with over $1.6B in notional volume.
• Robinhood Chain generated over $80B in DEX volume and $50M in chain fees during its first mainnet quarter.
⠀
💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲
“Customers are trusting us with more of their assets as we deliver on our product roadmap, leading to our highest quarter ever for revenues.”
