Robinhood Reports Record Q3 2026 Revenue of $1.42B and Lowers FY26 Expense Guidance

Executive Summary

On October 27, 2026, Robinhood Markets, Inc. filed a Form 8-K under Item 2.02 disclosing its financial results for the third quarter ended September 30, 2026.

Key Financial Highlights

• Revenues: Record total net revenues of $1.42 billion, increasing 12% year-over-year.
  • Transaction-based revenues: $867 million (+19% YoY), driven by event contracts revenue of $173 million (up >6x), options revenue of $399 million (+31% YoY), and equities revenue of $121 million (+41% YoY), partially offset by crypto revenue of $120 million (-55% YoY).
  • Net interest revenues: $415 million (-9% YoY), impacted by lower securities lending activity and short-term interest rates.
  • Other revenues: $142 million (+61% YoY), driven by Trump Account service fees and Robinhood Gold subscriptions.
• Profitability:
  • Net Income: $476 million (-14% YoY), impacted by $67 million ($0.07 per share) of unrealized mark-to-market losses on Robinhood Ventures Fund I (RVI).
  • Diluted EPS: $0.51 vs. prior-year quarter.
  • Adjusted Net Income (Non-GAAP): $550 million (-3% YoY); Adjusted EPS: $0.60 (-3% YoY).
  • Adjusted EBITDA: $808 million (+9% YoY).

Operating Metrics & Business Highlights

• Funded Customers: 28.7 million (+7% YoY).
• Investment Accounts: 30.4 million (+9% YoY).
• Robinhood Gold Subscribers: Reached a record 5.2 million (+34% YoY).
• Total Platform Assets: $396 billion (+19% YoY).
• Net Deposits: $15.7 billion during Q3; October month-to-date net deposits exceeded $13 billion.
• Capital Return: Repurchased $25 million of Class A common stock (approx. 0.2 million shares) at an average price of ~$105 per share.

Updated Guidance

• Lowered the high end of FY2026 Adjusted Operating Expenses and SBC guidance by $25 million to a revised range of $2.675 billion to $2.750 billion (from $2.675B–$2.775B), citing efficiency gains.