Robinhood Records $1B Revenue In Q1 2026

Robinhood has released its financials for Q1 2026, which ended on 31 March. Following 2025’s record revenue, the company has maintained its upward trajectory. Revenue rose 15% year-on-year to $1.07 billion, while net income increased 3% to $346 million.

The decline from 50% growth in Q1 2025 to 15% in this year’s first quarter reflects transition into a stable phase. Despite this, margins improved, with adjusted EBITDA up 14% to $534 million and cash reserves also increased by 14% to reach $5 billion at the end of the quarter.

Platform assets grew by 39% to $307 billion from $221 billion in the previous year. This was supported by net deposits of $17.7 billion during the quarter and $67.8 billion over the last 12 months, reflecting a 31% growth. 

Funded customers rose 6% to 27.4 million, while investment accounts went up 8% to 29.1 million. Average revenue per user (ARPU) also increased by 8% to $157.

Event contracts drive transaction revenue

The company generates revenue from three main sources, which all grew except crypto. Transaction-based revenue climbed to $623 million, up 7%, while other transactions generated $147 million, 4.2x the previous year’s level.

This surge was powered by event contracts, a form of prediction market where users trade real-world outcomes. Options trading went up by 8% to $260 million, while equities revenue rose by 46% to $82 million. Crypto was the only major segment to decline, with revenue dropping 47% to $134 million due to market instability.

Outside transactions, net interest income reached $359 million, up 24%, supported by growth in interest-earning assets. Other revenue rose 57% to $85 million, with Robinhood Gold subscription contributing $50 million.

Robinhood Gold and ecosystem expansion

Robinhood’s premium tier, Robinhood Gold, is scaling as a core monetisation layer. Subscribers reached 4.3 million by the end of the last quarter, up 36 per cent year-on-year. The company is moving beyond its original identity as a trading app. Trading volumes remain strong, with equities up 54% to $638 billion and options contracts rising 17% to 586 million. Event contracts reached 8.8 billion, highlighting growing interest in alternative trading formats.

New product development is focused on building a broader financial ecosystem. The company introduced AI tools, Cortex Digests and Cortex Assistant, designed to provide real-time insights. Robinhood Social is being tested by 10,000 users in beta, offering verified trading activity.

Banking and wealth products are also gaining traction. Deposits in Robinhood Banking exceeded $2 billion, while its portfolio management service, Robinhood Strategies, handles $1.6 billion in assets across 285,000 customers. The company also launched new card products, including the Robinhood Platinum Card.

A notable development is the selection of Robinhood by the U.S. Treasury as broker and trustee for Trump Accounts, a new investment account category. This positions the company within a government-linked financial initiative.

Global expansion and balance sheet strength

Globally, Robinhood has secured in-principle approval from the Monetary Authority of Singapore and launched a public testnet for its blockchain project, Robinhood Chain, which has processed over 100 million transactions.

The balance sheet showed stronger metrics. Total assets rose to $45.5 billion from $27.5 billion year-on-year, while liabilities increased to $35.8 billion. Retirement assets under management jumped 90% to $27.4 billion, and the margin book nearly doubled to $17 billion, up by 93%.

The company also returned capital to shareholders through buybacks, repurchasing $250 million worth of shares during the quarter. Since Q3 2024, total repurchases have reached $1.2 billion. The board approved a $1.5 billion programme over three years in March. 

Robinhood expects adjusted operating expenses between $2.7 billion and $2.825 billion for 2026. The increase is tied to development costs for Trump Accounts, which will be reimbursed under a cost-plus structure. CEO Vlad Tenev described this current period as the “early stages of the Great Wealth Transfer”. 

Robinhood has achieved impressive financial results in the first quarter of 2026 following growth across its range of businesses and products. The $1bn revenue was driven primarily by transactions, event contracts, and crypto. With new products on the way, Robinhood is on course for a spectacular fiscal year.