Robinhood Markets, Inc.
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
HOOD$83.32+3.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| (in millions, except share and per share data) | 2024 | 2025 |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $4,332 | $4,261 |
| Cash, cash equivalents, and securities segregated under federal and other regulations | 4,724 | 5,749 |
| Receivables from brokers, dealers, and clearing organizations | 471 | 426 |
| Receivables from users, net | 8,239 | 17,994 |
| Securities borrowed | 3,236 | 2,408 |
| Deposits with clearing organizations | 489 | 702 |
| User-held fractional shares | 2,530 | 3,782 |
| Held-to-maturity investments | 398 | — |
| Deferred customer match incentives | 100 | 185 |
| Other current assets, including current prepaid expenses of $75 as of December 31, 2024 and $127 as of December 31, 2025 | 584 | 798 |
| Total current assets | 25,103 | 36,305 |
| Property, software, and equipment, net | 139 | 154 |
| Goodwill | 179 | 385 |
| Intangible assets, net | 38 | 168 |
| Non-current deferred customer match incentives | 195 | 428 |
| Other non-current assets, including non-current prepaid expenses of $17 as of December 31, 2024 and $11 as of December 31, 2025 | 533 | 697 |
| Total assets | $26,187 | $38,137 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | $397 | $463 |
| Payables to users | 7,448 | 11,986 |
| Securities loaned | 7,463 | 11,626 |
| Fractional shares repurchase obligation | 2,530 | 3,782 |
| Other current liabilities | 266 | 914 |
| Total current liabilities | 18,104 | 28,771 |
| Other non-current liabilities | 111 | 215 |
| Total liabilities | 18,215 | 28,986 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value. 210,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and December 31, 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, 790,331,696 shares issued and outstanding as of December 31, 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, 110,996,736 shares issued and outstanding as of December 31, 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 December 31, 2025. | — | — |
| Additional paid-in capital | 12,008 | 11,284 |
| Accumulated other comprehensive income (loss) | (1) | 8 |
| Accumulated deficit | (4,035) | (2,152) |
| Non-controlling interest | — | 11 |
| Total stockholders’ equity | 7,972 | 9,151 |
| Total liabilities and stockholders’ equity | $26,187 | $38,137 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.