Robinhood Markets, Inc. HOOD
Robinhood was founded in 2013 on the belief that everyone should be welcome to participate in our financial system. We are creating modern financial services platforms for everyone, regardless of their wealth, income, or background.
Our mission is to democratize finance for all. We use technology to provide access to the financial system in a way that is simple and convenient for our customers. We believe the financial system should be built to work for everyone. That's why we create products that let our customers start investing at their own pace, on their own terms. We believe investing should be familiar and welcoming, with a simple design and an intuitive interface, so that customers are empowered to achieve their goals. We started with a revolutionary, bold brand and design in the Robinhood app which makes investing approachable for millions. Over the last decade, we have disrupted and changed the industry, becoming the first U.S. retail broker to offer commission-free stock trading with no account minimums, which was subsequently adopted by the rest of the industry. In recent years, we have continued to build relationships with our customers by introducing new products and diversifying our services that further expand access to the financial system, including focusing on products and tools for more seasoned investors. Through these efforts, we believe we have made investing culturally relevant and understandable, and that our platforms enable our customers to become long-term investors and take greater control of their finances.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.47B | $2.95B | $1.86B | $1.36B | $1.81B | $958.0M | $277.5M | — |
| R&D | $355.0M | $323.0M | $349.0M | $381.0M | $438.0M | $52.0M | $27.7M | — |
| SG&A | $628.0M | $455.0M | $1.17B | $924.0M | $1.37B | $295.0M | $85.5M | — |
| Total operating expenses | $2.38B | $1.90B | $2.40B | $2.37B | $3.46B | $945.0M | $384.5M | — |
| Interest expense | $1.51B | $1.11B | $929.0M | $424.0M | $256.0M | $177.0M | $70.6M | — |
| Pre-tax income | $2.11B | $1.06B | -$533.0M | -$1.03B | -$3.69B | $13.0M | -$107.6M | — |
| Income tax | $225.0M | $347.0M | $8.0M | $1.0M | $2.0M | $6.0M | $1.0M | — |
| Net income | $1.88B | $1.41B | -$541.0M | -$1.03B | -$3.69B | $7.0M | -$106.6M | — |
| EPS, basic | 2.12 | 1.60 | -0.61 | -1.17 | -7.49 | 0.01 | -0.48 | — |
| EPS, diluted | 2.05 | 1.56 | -0.61 | -1.17 | -7.49 | 0.01 | -0.48 | — |
| Shares, diluted (wtd. avg.) | 918.8M | 906.2M | 890.9M | 878.6M | 492.4M | 245.0M | 221.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.26B | $4.33B | $4.83B | $9.36B | $10.27B | $6.19B | $644.0M | — |
| Total current assets | $36.30B | $25.10B | $17.08B | $22.92B | $19.28B | $10.87B | — | — |
| Property, plant and equipment | $154.0M | $139.0M | $120.0M | $146.0M | $146.0M | $45.8M | — | — |
| Goodwill | $385.0M | $179.0M | $175.0M | $100.0M | $101.0M | $0 | — | — |
| Other intangibles | $168.0M | $38.0M | $48.0M | $25.0M | $34.0M | $185.0K | — | — |
| Total assets | $38.14B | $26.19B | $17.62B | $23.34B | $19.77B | $10.99B | — | — |
| Accounts payable | $463.0M | $397.0M | $384.0M | $185.0M | $252.0M | $104.6M | — | — |
| Total current liabilities | $28.77B | $18.10B | $10.84B | $16.25B | $12.35B | $8.82B | — | — |
| Total liabilities | $28.99B | $18.21B | $10.93B | $16.38B | $12.48B | $8.86B | — | — |
| Retained earnings | -$2.15B | -$4.04B | -$5.45B | -$4.91B | -$3.88B | -$190.1M | — | — |
| Total equity | $9.15B | $7.97B | $6.70B | $6.96B | $7.29B | -$55.0M | -$97.0M | -$21.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.64B | -$157.0M | $1.18B | -$852.0M | -$885.0M | $1.88B | $1.26B | — |
| Depreciation and amortisation | $86.0M | $77.0M | $71.0M | $61.0M | $26.0M | $10.0M | $5.4M | — |
| Stock-based compensation | $305.0M | $304.0M | $871.0M | $654.0M | $1.57B | $24.0M | $26.7M | — |
| Capital expenditure | — | — | — | $28.0M | $63.0M | $24.0M | $7.3M | — |
| Investing cash flow | $141.0M | -$148.0M | -$582.0M | -$60.0M | -$238.0M | -$32.0M | -$12.3M | — |
| Financing cash flow | -$590.0M | -$345.0M | -$610.0M | $0 | $5.20B | $1.28B | $375.4M | — |
| Buybacks | $653.0M | $257.0M | $608.0M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001783879-26-000053.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $277.5M | $958.0M | $1.81B | $1.36B | $1.86B | $2.95B | $4.47B |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$106.6M | $7.0M | -$3.69B | -$1.03B | -$541.0M | $1.41B | $1.88B |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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