Robinhood Markets, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
HOOD$80.91+3.2%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Financial Statements Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
| December 31, | September 30, | |
|---|---|---|
| (in millions, except share and per share data) | 2024 | 2025 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $4,332 | $4,331 |
| Cash, cash equivalents, and securities segregated under federal and other regulations | 4,724 | 8,443 |
| Receivables from brokers, dealers, and clearing organizations | 471 | 482 |
| Receivables from users, net | 8,239 | 14,390 |
| Securities borrowed | 3,236 | 6,607 |
| Deposits with clearing organizations | 489 | 1,440 |
| User-held fractional shares | 2,530 | 3,618 |
| Held-to-maturity investments | 398 | 53 |
| Prepaid expenses | 75 | 128 |
| Deferred customer match incentives | 100 | 161 |
| Other current assets | 509 | 326 |
| Total current assets | 25,103 | 39,979 |
| Property, software, and equipment, net | 139 | 150 |
| Goodwill | 179 | 386 |
| Intangible assets, net | 38 | 172 |
| Non-current deferred customer match incentives | 195 | 360 |
| Other non-current assets, including non-current prepaid expenses of $17 as of December 31, 2024 and $13 as of September 30, 2025 | 533 | 405 |
| Total assets | $26,187 | $41,452 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | $397 | $399 |
| Payables to users | 7,448 | 12,317 |
| Securities loaned | 7,463 | 15,666 |
| Fractional shares repurchase obligation | 2,530 | 3,618 |
| Other current liabilities | 266 | 762 |
| Total current liabilities | 18,104 | 32,762 |
| Other non-current liabilities | 111 | 123 |
| Total liabilities | 18,215 | 32,885 |
| Commitments and contingencies (Note 14) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value. 210,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and September 30, 2025. | — | — |
| Class A common stock, $0.0001 par value. 21,000,000,000 shares authorized, 764,903,997 shares issued and outstanding as of December 31, 2024; 21,000,000,000 shares authorized, 784,342,180 shares issued and outstanding as of September 30, 2025. | — | — |
| Class B common stock, $0.0001 par value. 700,000,000 shares authorized, 119,588,986 shares issued and outstanding as of December 31, 2024; 700,000,000 shares authorized, 114,326,182 shares issued and outstanding as of September 30, 2025. | — | — |
| Class C common stock, $0.0001 par value. 7,000,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and September 30, 2025. | — | — |
| Additional paid-in capital | 12,008 | 11,317 |
| Accumulated other comprehensive income (loss) | (1) | 7 |
| Accumulated deficit | (4,035) | (2,757) |
| Total stockholders’ equity | 7,972 | 8,567 |
| Total liabilities and stockholders’ equity | $26,187 | $41,452 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.