In 2021, Robinhood Markets‘ (NASDAQ:HOOD) shares soared to $50 as a new wave of day traders embraced stock speculation. However, by 2023, the tide had turned, with speculators shifting focus, and HOOD stock, now valued at $9, trades modestly above tangible book value.On the other hand, Robinhood transformed stock trading, but in 2024, the company’s business model has evolved. Investors, after thorough research, may opt to sell or increase their stake based on their belief in the blockchain revolution and cr ...

Kimberly White Amidst a surge in speculative stocks, Robinhood (NASDAQ:HOOD) has seen its stock run up as well. The company appears to be benefitting from a win-win situation: higher interest rates have led to a surge in interest income and profitability, while the prospects for interest rate cuts might lead to increased trading revenues and higher valuation multiples. HOOD continues to hold a bulletproof balance sheet highlighted by over $5 billion of net cash and I expect top-line growth to accelerate ...

Financial Data and Key Metrics Changes - Total net revenues for Q3 2023 were $467 million, representing a 29% increase year-over-year, but a 4% decrease from Q2 2023 [112] - Adjusted EBITDA was $137 million in Q3, with adjusted EBITDA margins of 29%, up 16 points from a year ago [12][20] - The company recorded a net loss of $85 million or $0.09 per share due to a $104 million regulatory accrual [44] Business Line Data and Key Metrics Changes - Robinhood Gold subscriptions grew to over 1.3 million, with an increase of 100,000 in Q3 alone, and Gold customers had average assets under custody up more than 60% year-over-year [17][19] - Transaction-based revenues in Q3 were $185 million, down 4% sequentially, primarily due to lower crypto volumes [112] - Securities lending enrolled nearly 400,000 customers in Q3, bringing the total to nearly 2 million customers with over $10 billion of balances [19] Market Data and Key Metrics Changes - The company serves over 23 million customers in the US, capturing nearly 10% of American adults [8] - Market share in equities and options has been increasing year-over-year and sequentially for the past three quarters [52] - Net deposits in Q3 were $4 billion, translating to an 18% annual growth rate, with assets under custody ending the quarter at $87 billion, up 34% from a year ago [119] Company Strategy and Development Direction - The company aims to deepen customer relationships, innovate for active traders, and explore new growth opportunities, including international expansion [18][127] - The launch of brokerage operations in the UK and crypto trading in the EU is expected to expand the addressable market significantly [144] - The company is focused on becoming the number one platform for active traders by systematically removing limitations and enhancing user experience [139] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macro-environment, including high interest rates and geopolitical tensions, but remains optimistic about achieving record annual revenue in 2023 [2][16] - The company plans to continue investing for growth while maintaining a lean cost structure, with a focus on driving profitability over time [20][28] - Management expressed confidence in the long-term potential to innovate and grow market share despite current stock price challenges [120] Other Important Information - The company has a strong balance sheet with nearly $5.5 billion in cash and investments, providing flexibility in a challenging macro backdrop [22] - Share-based compensation was $83 million in Q3, down from 30% of revenue a year ago to 18% [46] - The company is preparing to launch a new credit card product, leveraging insights from the acquisition of X1 [17][132] Q&A Session Summary Question: What will it take to bring the stock price back to the IPO level? - Management indicated that focusing on business growth and profitability is key to improving stock price over the long term [3][120] Question: What will Robinhood do to grow market share and expand operations? - The strategy includes deepening customer relationships through Robinhood Gold and enhancing product offerings to increase customer retention and wallet share [27] Question: What can Robinhood do to become consistently profitable throughout each quarter? - Management emphasized the importance of investing for growth while keeping costs lean, aiming to grow revenues faster than operating expenses [54][28] Question: When will Robinhood come to Europe? - The company is set to launch brokerage operations in the UK and crypto trading in the EU in the coming weeks [29][144] Question: What is driving the increase in market share? - The increase is attributed to systematic improvements in product offerings and user experience, particularly for active traders [56][57]

2% Net Deposits (5%) —% (67%) 760% Robinhood � Net Cumulative Funded Accounts (NCFA)¹ in millions | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------------|-------|-------|-------|-------|-------|------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☒ 1934 For the quarterly period ended September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 For the transition period from ________ to ________ Commission File Number: 001-40691 ______________________ Robinhood Markets, Inc. (Exact ...

Financial Outlook for Operating Expenses Prior to SBC (GAAP to Non-GAAP Reconciliation) | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|----------------------------------------------|----------------------------------------------------------|-------------------------------------------------------------------|-------------------------------------------------------------------------------------|-------------------- ...

Robinhood Markets, Inc. (NASDAQ:HOOD) Q2 2023 Results Earnings Conference Call August 2, 2023 5:00 PM ET Company Participants Chris Koegel - Head of Investor Relations Vlad Tenev - Chief Executive Officer and Co-Founder Jason Warnick - Chief Financial Officer Conference Call Participants Devin Ryan - JMP Securities Dan Dolev - Mizuho Securities Steven Chubak - Wolfe Research Michael Cyprys - Morgan Stanley Ken Worthington - J.P. Morgan Ben Budish - Barclays Capital Craig Siegenthaler - Bank of America Secur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☒ 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-40691 ______________________ Robinhood Markets, Inc. (Exact name ...

Robinhood Markets, Inc. (NASDAQ:HOOD) Q1 2023 Earnings Conference Call May 10, 2023 5:00 PM ET Company Participants Chris Koegel - VP and Head, IR Vlad Tenev - CEO and Co-Founder Jason Warnick - CFO Conference Call Participants Rich Repetto - Piper Sandler Dan Dolev - Mizuho Alex Markgraff - KeyBanc Capital Markets Devin Ryan - JMP Securities Michael Cyprys - Morgan Stanley Will Nance - Goldman Sachs Ken Worthington - JP Morgan Matthew O'Neill - FT Partners Mark McLaughlin - Bank of America Merrill Lynch ...

Trademarks "Robinhood" and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners. investors.robinhood.com 2 What a difference a year makes...Net Promoter Score® up 20+ points and annualized Adjusted EBITDA up $1+ billion over the past year Net Promoter Score® (NPS®) Opex prior to SBC Total Net Revenues Adjusted EBITDA in millions in millions in millions $550M+ $450M+ Annualized Annualized $1B+ In ...