Adjustments for Non-Cash Items (USD, millions)

Stock-Based Compensation (USD, millions)

Changes in Working Capital (USD, millions)

Capital Expenditures (CapEx) (USD, millions)

Proceeds from / Repayments of Debt (USD, millions)

Share Repurchases (USD, millions)

Dividend Payments (USD, millions)

Net Change in Cash (USD, millions)

4ccfa09c30e98c9d907e5e2cefb31bbfb3105467cf443eb76e5d6ce7f789a497

Transaction-Based Revenues

- Options

- Cryptocurrencies

- Equities

- Other

Net Interest Revenues

- Margin Interest

- Interest on Corporate Cash and Investments

- Interest on Segregated Cash, Securities, and Deposits

- Cash Sweep

- Securities Lending, Net

- Credit Card, Net

- Interest Expenses Related to Credit Facilities

Other Revenues

- Gold Subscription Revenues

- Proxy Revenues

Total Revenue

6fd97a1d47e10cd89697df35095fab2434f359d5c814b42395fa6547367449bc

Total Revenue (USD, millions)

Cost of Goods Sold (COGS) (USD, millions)

Selling, General, and Administrative Expenses (SG&A) (USD, millions)

Research and Development (R&D) (USD, millions)

Depreciation and Amortization (D&A) (USD, millions)

Interest Expense (USD, millions)

Operating Income (EBIT) (USD, millions)

Net Income (USD, millions)

Earnings Per Share (EPS) - Basic (USD)

Earnings Per Share (EPS) - Diluted (USD)

3fd1203f670f808bc9012a29a82237350d708662c39f11ead52d69f847c5fa5e

Current Assets (USD, millions)

Cash and Cash Equivalents (USD, millions)

Accounts Receivable (USD, millions)

Inventory (USD, millions)

Non-Current Assets (USD, millions)

Property, Plant, and Equipment (PP&E) (USD, millions)

Goodwill (USD, millions)

Intangible Assets (USD, millions)

Current Liabilities (USD, millions)

Accounts Payable (USD, millions)

Short-term Debt (USD, millions)

Accrued Expenses (USD, millions)

Non-Current Liabilities (USD, millions)

Long-term Debt (USD, millions)

Lease Liabilities (USD, millions)

Deferred Tax Liabilities (USD, millions)

Shareholders' Equity (USD, millions)

Retained Earnings (USD, millions)

Common Stock (USD, millions)

Additional Paid-in Capital (USD, millions)

ad13e5515e8fb3d7ec6da9968abbc00065c5af9f831b141c8dcca06d8e1822ec

Beginning Funded Customers (millions)

New Funded Customers (millions)

Resurrected Customers (millions)

Churned Customers (millions)

Ending Funded Customers (millions)

Number of Investment Accounts (millions)

AUC from Equities (USD billions)

AUC from Cryptocurrencies (USD billions)

AUC from Options (USD billions)

AUC from Cash held by Customers (USD billions)

AUC from Receivables from Customers (USD billions)

Total AUC (USD billions)

Net Deposits (USD billions)

Net Deposits over the past twelve months (USD billions)

ARPU (USD)

Gold Subscribers (millions)

d669a8dd2edb25eb80df586b6ac8ba8e6cd8159a61b7a2819cb52b1d2901ea3c

Transaction-based revenues (USD, millions)

Net interest revenues (USD, millions)

Other revenues (USD, millions)

Total net revenues (USD, millions)

Brokerage and transaction (USD, millions)

Technology and development (USD, millions)

Operations (USD, millions)

Marketing (USD, millions)

General and administrative (USD, millions)

Total operating expenses (USD, millions)

Other income (expense), net (USD, millions)

Income (loss) before income taxes (USD, millions)

Provision for income taxes (USD, millions)

Net income (loss) (USD, millions)

Net income (loss) attributable to common stockholders (USD, millions)

Net income (loss) per share attributable to common stockholders - Basic (USD)

Net income (loss) per share attributable to common stockholders - Diluted (USD)

605f7234f6324843db865b35a875176846d24ecd3e19bc7fda85687e612d12c4

In Q1 2024, **transaction-based revenues** jumped to **$329 million** due to a significant increase in trading activities across all major asset classes. **Cryptocurrencies revenue** surged by **232%** (rising from **$38 million** to **$126 million**), driven by an **88% increase in the average Notional Trading Volume per trader** and a **57% rise in the number of cryptocurrency traders**. Additionally, **options revenue** grew by **16%** (from **$133 million** to **$154 million**) and **equities revenue** increased by **44%** (from **$27 million** to **$39 million**), further contributing to the overall revenue boost.  **[0001783879-24-000145_hood-20240331.htm:40]** **[0001783879-24-000145_hood-20240331.htm:12]** 

Why did Transaction-based revenues jump to 329 in Q1 2024?

In Q4 2023, the turnaround in income before income taxes was driven by several factors. **Total net revenues increased by 24%**, fueled by higher transaction-based revenues, a **41% increase** in net interest revenues, and a **30% rise** in other revenues. Simultaneously, **total operating expenses decreased by 17%**, with a notable **62% reduction** in brokerage and transaction expenses and a **32% reduction** in general and administrative expenses. Moreover, the company improved its operating efficiency, lowering operating expenses as a percentage of total net revenues from **140% to 94%**, and benefited from a more favorable other income/expense profile. These elements combined to create the significant positive shift in income before income taxes in Q4 2023.  **[0001783879-24-000047_q42023robinhoodexhibit991.htm:4]** 

What contributed to the turnaround in income before income taxes in Q4 2023?

Robinhood’s **positive net income of 30.00** in Q4 2023 was primarily driven by a combination of factors. The company experienced a **24% increase in total net revenues**—notably, a **41% increase in net interest revenues** and an **8% increase in transaction-based revenues**—which significantly boosted its topline. At the same time, there was a **17% reduction in total operating expenses**, including a dramatic **49% decline in share-based compensation**. Additionally, the absence of a **$57 million one-time charge** seen in Q4 2022 contributed to the positive turnaround, marking improved profitability metrics for the quarter.  **[0001783879-24-000047_q42023robinhoodexhibit991.htm:4]** **[0001783879-24-000047_q42023robinhoodexhibit991.htm:0]** **[0001783879-24-000047_q42023robinhoodexhibit991.htm:8]** 

Why did net income turn positive at 30.00 in Q4 2023?

The **EPS improvement to $0.03 in Q4 2023** was driven by a combination of factors. **Total net revenues increased by 24%** year-over-year (from **$380 million to $471 million**), which bolstered the company’s top line. At the same time, **operating expenses decreased by 17%** (from **$534 million to $445 million**), easing the cost burden. Additionally, the company turned around its profitability by reporting a **net income of $30 million** compared to a net loss in the prior period. These elements combined led to the significant improvement in earnings per share for the quarter.  **[0001783879-24-000047_q42023robinhoodexhibit991.htm:4]** 

What led to the EPS improvement to 0.03 in Q4 2023?

Robinhood’s Q2 2024 Other revenues of **$70.00 million** reflected significant changes compared to the prior year. In particular, a key driver was that the **"Other" category doubled**, increasing from **$3 million** in Q2 2023 to **$6 million** in Q2 2024. Additionally, **Gold subscription revenues** grew by **$8 million** (from **$18 million** to **$26 million**), further boosting the overall figures.  **[0001783879-24-000233_hood-20240630.htm:46]** **[0001783879-24-000233_hood-20240630.htm:12]** 

Why did Other revenues double to 70.00 in Q2 2024?

ce29f85a1d806c480d9f3e938d1e9ede278b50cda9594ecafe9715e3cfb9ee8f

Net income (loss) [USD, millions]

Depreciation and amortization [USD, millions]

Provision for credit losses [USD, millions]

Share-based compensation [USD, millions]

Other adjustments to reconcile net income (loss) to net cash [USD, millions]

Net cash provided by (used in) operating activities [USD, millions]

Purchases of property, software, and equipment [USD, millions]

Capitalization of internally developed software [USD, millions]

Purchases of held-to-maturity investments [USD, millions]

Proceeds from maturities of held-to-maturity investments [USD, millions]

Purchases of credit card receivables by Credit Card Funding Trust [USD, millions]

Collections of purchased credit card receivables [USD, millions]

Business acquisition, net of cash and cash equivalents acquired [USD, millions]

Asset acquisition, net of cash acquired [USD, millions]

Net cash used in investing activities [USD, millions]

Taxes paid related to net share settlement of equity awards [USD, millions]

Payments of debt issuance costs [USD, millions]

Borrowings on Credit Card Funding Trust [USD, millions]

Change in principal collected from customers due to Coastal Bank [USD, millions]

Proceeds from exercise of stock options, net of repurchases [USD, millions]

Repurchase of Class A common stock [USD, millions]

Net cash used in financing activities [USD, millions]

Effect of foreign exchange rate changes on cash and cash equivalents [USD, millions]

Net increase (decrease) in cash, cash equivalents, segregated cash, and restricted cash [USD, millions]

Cash paid for interest [USD, millions]

Cash paid for income taxes, net of refund received [USD, millions]

Cash, cash equivalents, segregated cash, and restricted cash, beginning of the period [USD, millions]

Cash, cash equivalents, segregated cash, and restricted cash, end of the period [USD, millions]

e478b79b1bae974de5e1f2c8eed92e3e1715d24789727c69e575ad0c838a9eac

Cash and cash equivalents (USD, millions)

Cash, cash equivalents, and securities segregated under federal and other regulations (USD, millions)

Receivables from brokers, dealers, and clearing organizations (USD, millions)

Receivables from users, net (USD, millions)

Securities borrowed (USD, millions)

Deposits with clearing organizations (USD, millions)

User-held fractional shares (USD, millions)

Held-to-maturity investments (USD, millions)

Prepaid expenses (USD, millions)

Deferred customer match incentives (USD, millions)

Other current assets (USD, millions)

Total current assets (USD, millions)

Property, software, and equipment, net (USD, millions)

Intangible assets, net (USD, millions)

Non-current deferred customer match incentives (USD, millions)

Other non-current assets, including non-current prepaid expenses (USD, millions)

Robinhood Markets Inc (HOOD)

Financials