Robinhood Markets (HOOD) investor relations material

Executive summary

• Achieved record quarterly revenues of $1.31 billion in Q2 2026, up 32% year-over-year, with strong growth across equities, options, prediction markets, and margin products.

• Net income rose 48% year-over-year to $573 million, including $129 million in gains from the deconsolidation of Robinhood Ventures Fund I.

• Net deposits reached a record $22 billion, representing a 28% annualized growth rate, and nearly one million new funded customers were added in the quarter.

• Robinhood Gold Subscribers hit a record 4.84 million, representing 17% of Funded Customers, up 39% year-over-year.

• Product innovation included the launch of agentic trading, Trump Accounts, and the Robinhood Gold Card surpassing one million cardholders, alongside international expansion with the WonderFi acquisition and regulatory milestones in Singapore and Europe.

Financial highlights

• Total net revenues rose 32% year-over-year to $1.31 billion, driven by record transaction volumes and market share gains.

• Adjusted EBITDA reached $741 million, up 35% year-over-year, with a 57% margin.

• Diluted EPS was $0.62, up 48% year-over-year.

• Transaction-based revenues grew 44% year-over-year to $776 million, led by event contracts, options, and equities, partially offset by a decline in crypto revenues.

• Total Platform Assets climbed 32% year-over-year to $369 billion, driven by net deposits and higher equity valuations.

Outlook and guidance

• 2026 Adjusted Operating Expenses and SBC guidance lowered and tightened to $2.675–$2.775 billion, reflecting efficiency gains and self-funding of new investments.

• Diluted share count expected to remain roughly flat in 2026.

• Liquidity is expected to remain adequate for the next 12 months, supported by strong cash balances and credit facilities.

• July average daily volumes for equities, options, and event contracts are tracking similar to Q2; net deposits in July are trending toward $4 billion.

• Focus remains on maximizing EPS and free cash flow per share over time.