Robinhood Markets

Robinhood Markets (Robinhood) offers retail brokerage, cryptocurrency trading, advisory services, digital banking and access to private markets, mainly through its mobile app. Customers trade equities, options, cryptocurrencies and event contracts, and they can pay for the Robinhood Gold subscription. The company also offers the Robinhood Gold Card, Robinhood Banking, Robinhood Strategies and retirement accounts.

It owns Bitstamp, a cryptocurrency exchange, TradePMR, a platform for registered investment advisers, and WonderFi in Canada. Rothera, a joint venture with SIG, owns an exchange for event contracts. At September 30, 2026, Robinhood had 28.7 million Funded Customers, Total Platform Assets of $396 billion and 5.2 million Gold subscribers.

The founders hold all Class B shares, which have 10 votes each. The head office is in Menlo Park, California. Vlad Tenev is Chairman and Chief Executive Officer.

Robinhood trades at a premium because investors pay for its fast growth in customers' assets, subscribers and new businesses. In Q3 2026, revenue rose 12% to a record $1,424 million, Net Deposits were $15.7 billion and Gold subscribers rose 34% to 5.2 million. Event contracts revenue rose more than six times to $173 million, and Robinhood now has 14 business lines with annualized revenues of $100 million or more. But diluted EPS fell 16% to $0.51, cryptocurrency revenue fell 55% and net interest revenues fell 9%.

For the premium to be earned, three things must be true. Revenue must keep growing fast when trading activity is lower. New businesses, such as event contracts, banking and the Gold Card, must stay legal in each state and give profits. Expenses must stay within the company's plan.

The Q4 2026 report, expected in February 2027, is the next test. Only several years of fast growth in earnings can earn the premium.

1. Oct 27, 2026Passed

   Q3 2026 results: revenue growthRecord revenue with strong Net Deposits passes; a fall in revenue fails.Outcome: Revenue rose 12% to a record $1,424 million and Net Deposits were $15.7 billion, but diluted EPS fell 16%.
2. Feb 10, 2027 · est.Pending

   Q4 2026 resultsRevenue and EPS growth over Q4 2025 pass; lower EPS fails.
3. Apr 28, 2027 · est.Pending

   Q1 2027 results: new businessesGrowth in event contracts, Gold and banking with steady expenses passes; a fall in transaction revenue fails.

Every passed and failed checkpoint across all picks

• October 27, 2026Robinhood reported Q3 2026 results. Revenue rose 12% to $1,424 million, diluted EPS fell 16% to $0.51 and adjusted EPS fell 3% to $0.60. Net Deposits were $15.7 billion and Total Platform Assets were $396 billion. The company lowered the top end of its 2026 outlook for adjusted operating expenses and share-based compensation to $2.75 billion.
• June 25, 2026Robinhood issued $2.2 billion of 0.00% convertible senior notes due 2029. It used about $290 million of the proceeds to buy back 2,743,000 Class A shares at $105.71 per share.
• June 16, 2026Robinhood announced a reduction of about 10% of its full-time employees. It expected charges of about $20 million in cash and about $8 million of share-based compensation.

Last earnings

October 27, 2026 (8-K on sec.gov)

Next earnings

Expected about February 10, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 28, 2026 · hood-20260930
• 8-KEarnings releaseFiled October 27, 2026 · hood-20261027
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 30, 2026 · hood-20260630
• 8-KEarnings releaseFiled July 29, 2026 · hood-20260729
• 8-KChange of directors or officersFiled June 26, 2026 · hood-20260625
• 8-KNew material agreement and New debt or financial obligationFiled June 25, 2026 · hood-20260622
• 8-KOther company newsFiled June 23, 2026 · hood-20260622
• 8-KExit or restructuring costsFiled June 16, 2026 · hood-20260616
• 8-KShareholder vote resultsFiled June 3, 2026 · hood-20260602
• 8-KChange of directors or officersFiled May 8, 2026 · hood-20260507

Every filing on SEC EDGAR (CIK 1783879)

• Most revenue comes from trading. Cryptocurrency revenue fell 55% in Q3 2026, and lower trading in options, equities or event contracts can cut revenue fast.
• States and regulators challenge event contracts. Enforcement actions or new laws can stop Robinhood from offering some contracts, and other litigation and regulatory investigations are pending.
• Lower short-term interest rates and less securities lending lower net interest revenues, which fell 9% in Q3 2026.
• The credit card loan book grows fast. The provision for credit losses rose to $71 million in Q3 2026 from $26 million a year earlier.
• The convertible notes can add up to 20,811,560 Class A shares. The founders control the votes through Class B shares.

Robinhood is a broker, and most of its $58.3 billion of assets at September 30, 2026 relate to customers, such as segregated cash, margin loans and securities borrowed. Corporate cash and cash equivalents were $5,829 million. Read more

Robinhood Markets does not pay a dividend.

Source: company filings and market data, read on November 10, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.