Robinhood Markets Inc
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
HOOD$81.33-2.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2021 | 2022 | 2023 |
| Operating activities: | |||
| Net loss | $(3,687) | $(1,028) | $(541) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 26 | 61 | 71 |
| Impairment of long-lived assets | — | 45 | 5 |
| Provision for credit losses | 78 | 36 | 43 |
| Share-based compensation | 1,572 | 654 | 871 |
| Change in fair value of convertible notes and warrant liability | 2,045 | — | — |
| Other | (1) | 35 | 3 |
| Changes in operating assets and liabilities: | |||
| Securities segregated under federal and other regulations | 135 | — | — |
| Receivables from brokers, dealers, and clearing organizations | 36 | 12 | (13) |
| Receivables from users, net | (3,362) | 3,386 | (298) |
| Securities borrowed | — | (517) | (1,085) |
| Deposits with clearing organizations | (102) | 142 | (152) |
| Current and non-current prepaid expenses | (135) | 33 | 37 |
| Other current and non-current assets | (54) | (26) | (48) |
| Accounts payable and accrued expenses | 134 | (62) | 134 |
| Payables to users | 578 | (1,775) | 396 |
| Securities loaned | 1,730 | (1,817) | 1,713 |
| Other current and non-current liabilities | 122 | (31) | 45 |
| Net cash provided by (used in) operating activities | (885) | (852) | 1,181 |
| Investing activities: | |||
| Purchases of property, software, and equipment | (63) | (28) | (2) |
| Capitalization of internally developed software | (20) | (29) | (19) |
| Purchases of available-for-sale investments | (27) | (25) | — |
| Proceeds from sales and maturities of available-for-sale investments | — | 42 | 10 |
| Purchases of held-to-maturity investments | — | — | (759) |
| Proceeds from maturities of held-to-maturity investments | — | — | 282 |
| Acquisitions of a business, net of cash and cash equivalents acquired | (125) | — | (93) |
| Other | (3) | (20) | (1) |
| Net cash used in investing activities | (238) | (60) | (582) |
| Financing activities: | |||
| Proceeds from issuance of common stock in connection with initial public offering, net of offering costs | 2,052 | — | — |
| Proceeds from issuance of common stock under the Employee Stock Purchase Plan ("ESPP") | 7 | 16 | 14 |
| Taxes paid related to net share settlement of equity awards | (422) | (12) | (12) |
| Proceeds from issuance of convertible notes and warrants | 3,552 | — | — |
| Draws on credit facilities | 1,968 | 21 | 20 |
| Repayments on credit facilities | (1,968) | (21) | (20) |
| Payments of debt issuance costs | — | (10) | (10) |
| Change in principal collected from customers due to Coastal Bank | — | — | 1 |
| Proceeds from exercise of stock options, net of repurchases | 14 | 6 | 5 |
| Repurchase of common stock | — | — | (608) |
| Net cash provided by (used in) financing activities | 5,203 | — | (610) |
| Effect of foreign exchange rate changes on cash and cash equivalents | — | (1) | — |
| Net decrease in cash, cash equivalents, segregated cash, and restricted cash | 4,080 | (913) | (11) |
| Cash, cash equivalents, segregated cash, and restricted cash, beginning of the period | 6,190 | 10,270 | 9,357 |
| Cash, cash equivalents, segregated cash, and restricted cash, end of the period | $10,270 | $9,357 | $9,346 |
| Reconciliation of cash, cash equivalents, segregated cash, and restricted cash, end of the period: | |||
| Cash and cash equivalents, end of the period | $6,253 | $6,339 | $4,835 |
| Segregated cash, end of the period | 3,992 | 2,995 | 4,448 |
| Restricted cash in other current assets, end of the period | 1 | 1 | 46 |
| Restricted cash in other non-current assets, end of the period | 24 | 22 | 17 |
| Cash, cash equivalents, segregated cash, and restricted cash, end of the period | $10,270 | $9,357 | $9,346 |
| Supplemental disclosures: | |||
| Cash paid for interest | $12 | $12 | $12 |
| Cash paid for income taxes, net of refund received | $6 | $4 | $9 |
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