Robinhood Markets, Inc. reported a significant increase in financial performance for the year ended December 31, 2025, with total net revenues reaching $4.47 billion, a 52% increase compared to $2.95 billion in 2024. The company also achieved a net income of $1.88 billion, a 33% increase from $1.41 billion in the previous year, resulting in a diluted earnings per share (EPS) of $2.05, up from $1.56. This growth was supported by a 25% increase in total operating expenses, amounting to $2.38 billion, and a substantial 76% increase in Adjusted EBITDA, reaching $2.52 billion.
Key operational developments included a 7% increase in Funded Customers, bringing the total to 27.0 million, and an 8% increase in Investment Accounts, totaling 28.4 million. Total Platform Assets experienced a 67% surge, reaching $322.1 billion, driven by continued Net Deposits, acquired assets, and higher equity valuations. Net Deposits amounted to $68.1 billion, representing a growth rate of 35% relative to Total Platform Assets at the end of the fourth quarter of 2024. The Average Revenue Per User (ARPU) also saw a 40% increase, reaching $171, and Robinhood Gold Subscribers increased by 58% to 4.18 million.
The company's growth strategy focused on three key areas: establishing itself as the number one platform for active traders, becoming the number one in wallet share for the next generation, and building the number one global financial ecosystem. Strategic developments included the acquisition of Bitstamp, a globally-scaled cryptocurrency exchange, and TradePMR, a custodial and portfolio management platform for Registered Investment Advisors (RIAs). Robinhood also established a joint venture, Rothera, in partnership with Susquehanna International Group (SIG), which acquired a majority stake in Rothera Exchange and Clearing LLC (formerly MIAXdx).
Looking ahead, Robinhood plans to continue expanding its U.K. brokerage offering with the introduction of tax-advantaged investment accounts and is continuing to roll out Robinhood Banking to Gold Subscribers. The company also intends to invest in technology, including Artificial Intelligence (AI) and blockchain technology, and launch new products and features that drive tokenization. International expansion remains a priority, with plans to open an office in Singapore as its Asia-Pacific (APAC) headquarters and pending acquisitions in Canada and Indonesia. The company also has an active share repurchase program in place.
About Robinhood Markets, Inc.
Robinhood Markets, Inc. is a financial services platform that democratizes investing through commission-free trading of stocks, ETFs, options, cryptocurrencies, and other assets. It offers intuitive mobile and desktop apps, innovative products like fractional shares, recurring investments, and advanced trading tools. Serving retail investors globally, Robinhood emphasizes accessibility, user experience, and technological innovation to expand financial participation and build a comprehensive, category-defining ecosystem.
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