Robinhood Markets, Inc.

For the period ended Mar 31, 2026. Filed Apr 29, 2026.

About this filing

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.

Mar 31, 2026 · Filed Apr 29, 2026

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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Contents

Condensed Consolidated Statements of Cash Flows

	Three Months Ended March 31,
(in millions)	2025	2026
Operating activities:
Net income	$336	$346
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	20	23
Provision for credit losses	24	36
Deferred income taxes	—	34
Share-based compensation	73	92
Other	4	3
Changes in operating assets and liabilities:
Securities segregated under federal and other regulations	397	(3,953)
Receivables from brokers, dealers, and clearing organizations	206	(60)
Receivables from users, net	(911)	(44)
Securities borrowed	(878)	(947)
Deposits with clearing organizations	(152)	8
Current and non-current prepaid expenses	(13)	(54)
Current and non-current deferred customer match incentives	(56)	(116)
Other current and non-current assets	351	138
Accounts payable and accrued expenses	(124)	(69)
Payables to users	(332)	4,793
Securities loaned	1,635	1,761
Other current and non-current liabilities	62	47
Net cash provided by operating activities	642	2,038
Investing activities:
Purchases of property, software, and equipment	(2)	(9)
Capitalization of internally developed software	(9)	(9)
Consideration transferred for business acquisitions and asset acquisitions	(175)	(71)
Cash, cash equivalents, and segregated cash acquired in business acquisitions and asset acquisitions	25	18
Purchases of non-marketable securities	—	(92)
Proceeds from maturities of held-to-maturity investments	208	—
Purchases of credit card receivables by Credit Card Funding Trust	(549)	(2,520)
Collections of purchased credit card receivables	511	2,399
Net cash provided by (used in) investing activities	9	(284)
Financing activities:
Proceeds from exercise of stock options	7	2
Proceeds from issuance of RVI common stock in connection with initial public offering, net of offering costs	—	312
Taxes paid related to net share settlement of equity awards	(120)	(13)
Repurchase of Class A common stock	(322)	(250)
Borrowings by the Credit Card Funding Trust	24	117
Change in principal collected from customers due to Coastal Bank	10	(2)
Repayments on borrowings by the Credit Card Funding Trust	—	(15)
Payments of debt issuance costs	(16)	(12)
Contributions from noncontrolling interests	—	41
Net cash provided by (used in) financing activities	(417)	180
Effect of foreign exchange rate changes on cash and cash equivalents	1	(6)
Net increase in cash, cash equivalents, segregated cash, and restricted cash	235	1,928
Cash, cash equivalents, segregated cash, and restricted cash, beginning of the period	8,695	9,893
Cash, cash equivalents, segregated cash, and restricted cash, end of the period	$8,930	$11,821

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Reconciliation of cash, cash equivalents, segregated cash and restricted cash, end of the period:
Cash and cash equivalents, end of the period	$4,416	$5,012
Segregated cash and cash equivalents, end of the period	4,442	6,721
Restricted cash in other current assets, end of the period	54	74
Restricted cash in other non-current assets, end of the period	18	14
Cash, cash equivalents, segregated cash and restricted cash, end of the period	$8,930	$11,821
Supplemental disclosures:
Cash paid for interest	$9	$15
Cash paid for income taxes, net of refund received	$29	$70

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.