Robinhood Markets, Inc.
For the period ended Sep 30, 2026. Filed Oct 28, 2026.
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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, 2026 · Filed Oct 28, 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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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (in millions) | 2025 | 2026 |
| Operating activities: | ||
| Net income | $1,278 | $1,395 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 63 | 72 |
| Provision for credit losses | 78 | 163 |
| Deferred income taxes | — | 63 |
| Share-based compensation | 229 | 277 |
| Gain on deconsolidations | — | (107) |
| Unrealized and realized (gain) loss on equity securities, net | — | 46 |
| Other | 13 | 26 |
| Changes in operating assets and liabilities: | ||
| Securities segregated under federal and other regulations | (1,193) | (4,360) |
| Receivables from brokers, dealers, and clearing organizations | 19 | (111) |
| Receivables from users, net | (5,814) | (4,939) |
| Securities borrowed | (3,371) | (2,373) |
| Deposits with clearing organizations | (951) | (423) |
| Current and non-current deferred customer match incentives | (226) | (190) |
| Other current and non-current assets and prepaid expenses | 395 | (328) |
| Accounts payable and accrued expenses | (75) | 47 |
| Payables to users | 3,754 | 6,447 |
| Securities loaned | 8,203 | 7,854 |
| Other current and non-current liabilities | 173 | 424 |
| Net cash provided by operating activities | 2,575 | 3,983 |
| Investing activities: | ||
| Purchases of property, software, and equipment | (13) | (31) |
| Capitalization of internally developed software | (28) | (32) |
| Consideration transferred for business acquisitions and asset acquisitions | (399) | (249) |
| Cash, cash equivalents, and segregated cash acquired in business acquisitions and asset acquisitions | 1,193 | 95 |
| Purchases of non-marketable securities | (8) | (230) |
| Proceeds from maturities of held-to-maturity investments | 347 | — |
| Purchases of credit card receivables by Credit Card Funding Trust | (2,917) | (10,834) |
| Collections of purchased credit card receivables | 2,526 | 9,961 |
| Proceeds from sales of investment in RVI | — | 40 |
| Cash derecognized upon deconsolidations | — | (225) |
| Other | (2) | (28) |
| Net cash provided by (used in) investing activities | 699 | (1,533) |
| Financing activities: | ||
| Proceeds from issuance of long-term borrowings | — | 2,700 |
| Proceeds from exercise of stock options | 14 | 4 |
| Proceeds from issuance of RVI common stock in connection with initial public offering, net of offering costs | — | 312 |
| Proceeds from issuance of common stock under the Employee Share Purchase Plan | 15 | 17 |
| Taxes paid related to net share settlement of equity awards | (413) | (34) |
| Repurchase of Class A common stock | (553) | (689) |
| Draws on credit facilities | 2,701 | 2,511 |
| Repayments on credit facilities | (2,701) | (2,511) |
| Borrowings by the Credit Card Funding Trust | 245 | 757 |
| Repayments on borrowings by the Credit Card Funding Trust | — | (523) |
| Payments of debt issuance costs | (16) | (33) |
| Purchase of Capped Calls | — | (123) |
| Contributions from noncontrolling interests | — | 49 |
| Other | — | 2 |
| Net cash (used in) provided by financing activities | (708) | 2,439 |
| Effect of foreign exchange rate changes on cash and cash equivalents | 8 | (28) |
| Net increase in cash, cash equivalents, segregated cash, and restricted cash | 2,574 | 4,861 |
| 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 | $11,269 | $14,754 |
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 | $4,331 | $5,829 |
| Segregated cash and cash equivalents, end of the period | 6,853 | 8,883 |
| Restricted cash in other current assets, end of the period | 68 | 28 |
| Restricted cash in other non-current assets, end of the period | 17 | 14 |
| Cash, cash equivalents, segregated cash and restricted cash, end of the period | $11,269 | $14,754 |
| Supplemental disclosures: | ||
| Cash paid for interest | $20 | $46 |
| Cash paid for income taxes, net of refund received | $83 | $230 |
| Derecognized assets and liabilities (net) | $— | $376 |
| Retained RVI and RVII interest at fair value | $— | $461 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.