Fintech platform Robinhood has released financial results for the first quarter (Q1) of 2026, ending March 31. The company continues to demonstrate resilient growth following a record 2025: revenue increased 15 per cent to $1.07 billion, while net income rose 3 per cent year-over-year to $346 million. Additionally, the number of Robinhood Gold subscribers hit a historic high of 4.3 million.
Key financial metrics
The slowdown in revenue growth from 50 per cent in Q1 2025 to 15 per cent in Q1 2026 reflects natural business stabilisation rather than weakening positions. Margins improved nonetheless: adjusted EBITDA rose 14 per cent to $534 million, and cash reached $5 billion at quarter-end, up 14 per cent.
Platform assets grew 39 per cent to $307 billion from $221 billion a year earlier. Net deposits totalled $17.7 billion for the quarter and $67.8 billion over the past 12 months, showing 31 per cent annual growth. Funded customers increased 6 per cent to 27.4 million, investment accounts rose 8 per cent to 29.1 million, and average revenue per user (ARPU) climbed 8 per cent to $157.
Robinhood’s financial results
| Metric | Q1 2025 | Q1 2026 | Change |
| Revenue | $927 million | $1.07 billion | +15 per cent |
| Net Income | $336 million | $346 million | +3 per cent |
| Diluted EPS | $0.37 | $0.38 | +3 per cent |
| Adjusted EBITDA | $468 million | $534 million | +14 per cent |
| Platform Assets | $221 billion | $307 billion | +39 per cent |
| Gold Subscribers | 3.2 million | 4.3 million | +36 per cent |
| Funded Customers | 25.8 million | 27.4 million | +6 per cent |
| ARPU | $145 | $157 | +8 per cent |
| Cash and Equivalents | $4.4 billion | $5 billion | +14 per cent |
Source: SiGMA News.
Revenue breakdown: growth across most segments
Robinhood’s revenue comes from three main sources, each showing positive growth except crypto. Transaction-based revenues totalled $623 million (+7 per cent year-over-year). The standout was “other transactions” at $147 million, 4.2 times higher than in 2025.
The key driver was event contracts, or prediction markets, where users take positions on real-world event outcomes. Options revenue grew 8 per cent to $260 million, and equities rose 46 per cent to $82 million. Crypto was the sole exception: revenues fell 47 per cent to $134 million amid market volatility.
Net interest income hit $359 million (+24 per cent year-over-year) due to growth in interest-earning assets, offsetting lower short-term rates. Other revenues increased 57 per cent to $85 million, including $50 million from Robinhood Gold subscriptions (+32 per cent).
Revenue segmentation
| Revenue Source | Q1 2025 | Q1 2026 | Change |
| Transaction-based Revenues | $582 million | $623 million | +7 per cent |
| Options | $241 million | $260 million | +8 per cent |
| Equities | $56 million | $82 million | +46 per cent |
| Crypto | $252 million | $134 million | –47 per cent |
| Other Transactions | $35 million | $147 million | +320 per cent |
| Net Interest Revenues | $290 million | $359 million | +24 per cent |
| Other Revenues | $54 million | $85 million | +57 per cent |
Source: SiGMA News.
Robinhood Gold hits record subscriber numbers
Robinhood Gold is the premium subscription tier offering expanded analytics, higher interest rates on balances, and additional platform features. Quarter-end subscribers reached 4.3 million, up 36 per cent year-over-year, doubling the figure from two years ago. Gold subscription revenues totalled $50 million (+32 per cent year-over-year), indicating effective monetisation of the premium segment.
From trading to a financial ecosystem
Robinhood continues expanding its product lineup, aiming to evolve from a brokerage app into a full financial platform. In trading, the company maintains a leading position: equity trading volumes rose 54 per cent to $638 billion, and options contracts rose 17 per cent to 586 million. Event contracts set a new record at 8.8 billion.
The company also rolled out AI tools, Cortex Digests and Cortex Assistant, for real-time analytics and trading insights. Robinhood Social is currently in beta for 10,000 users and features verified trading activity.
Meanwhile, Robinhood Banking has surpassed $2 billion in deposits from 125,000 active customers, with 40 per cent using direct deposit. The company’s portfolio management service, Robinhood Strategies, serves 285,000 customers and manages $1.6 billion in assets. Gold Card holders reached 800,000, and the Robinhood Platinum Card program launched.
A major development: the U.S. Department of the Treasury selected Robinhood as broker and trustee for Trump Accounts, a new investment account category. BNY is developing a dedicated app for this product.
On the global front, Robinhood secured in-principle approval from the Monetary Authority of Singapore (MAS) and launched the public testnet for its Robinhood Chain blockchain, an Ethereum Layer 2 solution that has processed over 100 million transactions.
Share repurchases and balance sheet
Under its buyback program, Robinhood repurchased $250 million in shares in Q1: 3.1 million shares at an average of $81. Since Q3 2024, total repurchases total $1.2 billion (25 million shares). In March 2026, the board refreshed the program to $1.5 billion over three years, signalling management confidence in long-term prospects.
Balance sheet metrics strengthened: total assets grew from $27.5 billion in Q1 2025 to $45.5 billion in Q1 2026, and liabilities grew to $35.8 billion. Retirement assets under management rose 90 per cent to $27.4 billion, margin book up 93 per cent to $17 billion.
2026 outlook
The updated guidance for adjusted operating expenses, including share-based compensation (SBC), is $2.7- $ 2.825 billion. The $100 million increase relative to prior guidance is attributable to Trump Accounts development costs, which will be reimbursed under a cost-plus model with margin.
The second quarter began strongly: equity and options trading volumes hit yearly highs, with net deposits around $5 billion despite the tax season. Robinhood CEO Vlad Tenev (pictured) described the current period as the “early stages of the Great Wealth Transfer”, a generational wealth accumulation that creates long-term growth opportunities for the platform.
The next earnings report is scheduled for July 28, 2026.
This article was first published in Russian on 30 April 2026.
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