Robinhood Markets, Inc.

For the period ended Dec 31, 2025. Filed Feb 18, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 18, 2026

HOOD$83.32+3.0%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Year Ended December 31,
(in millions, except share and per share data)	2023	2024	2025
Revenues:
Transaction-based revenues	$785	$1,647	$2,628
Net interest revenues	929	1,109	1,514
Other revenues	151	195	331
Total net revenues	1,865	2,951	4,473
Operating expenses:
Brokerage and transaction	146	164	211
Technology and development	805	818	897
Operations	116	112	130
Provision for credit losses	43	76	114
Marketing	122	272	399
General and administrative	1,169	455	628
Total operating expenses	2,401	1,897	2,379
Other income, net	3	10	14
Income (loss) before income taxes	(533)	1,064	2,108
Provision for (benefit from) income taxes	8	(347)	225
Net income (loss)	$(541)	$1,411	$1,883
Net income (loss) attributable to non-controlling interest	—	—	—
Net income (loss) attributable to Robinhood	$(541)	$1,411	$1,883
Net income (loss) attributable to Robinhood common stockholders:
Basic	$(541)	$1,411	$1,883
Diluted	$(541)	$1,411	$1,883
Net income (loss) per share attributable to Robinhood common stockholders:
Basic	$(0.61)	$1.60	$2.12
Diluted	$(0.61)	$1.56	$2.05
Weighted-average shares used to compute net income (loss) per share attributable to Robinhood common stockholders:
Basic	890,857,659	881,113,156	888,504,958
Diluted	890,857,659	906,171,504	918,781,846

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.