Robinhood Markets, Inc. Reports November 2025 Operating Data

Core Insights - Robinhood Markets, Inc. reported its monthly operating data for November 2025, highlighting a decline in funded customer growth and total platform assets compared to October 2025, but showing significant year-over-year growth in both metrics [1][3]. Customer Metrics - Funded Customers at the end of November were 26.9 million, a decrease of 1% month-over-month from 27.1 million in October, but an increase of 8% year-over-year from 24.8 million [2][3]. - The decline in funded customers included the impact of approximately 280 thousand low-balance accounts being escheated, which would have otherwise resulted in a net increase of about 150 thousand customers for November [3]. Asset Metrics - Total Platform Assets at the end of November were $324.5 billion, down 5% from $342.6 billion in October, but up 67% from $194.6 billion year-over-year [2][3]. - Net Deposits for November were $7.1 billion, reflecting a 25% annualized growth rate compared to October 2025 [3]. Trading Activity - Total Trading Volumes in November included Equity Notional Trading Volumes of $201.5 billion, a decrease of 37% from October but an increase of 37% year-over-year [2][3]. - Options Contracts traded were 193.2 million, down 28% from October but up 24% year-over-year [4]. - Crypto Notional Trading Volumes were $28.6 billion, down 12% from October and down 19% year-over-year [4]. Margin and Cash Sweep Balances - Margin balances at the end of November were $16.8 billion, up 2% from October and up 147% year-over-year [4]. - Total Cash Sweep balances were $32.5 billion, down 5% from October but up 23% year-over-year [4]. Securities Lending Revenue - Total Securities Lending Revenue in November was $34 million, down 43% from October but up 48% year-over-year [4].