HOOD FY 2025 Earnings Report — Robinhood Markets, Inc. Revenue & Financial Results | Market Cap Arena

Robinhood Markets, Inc.HOOD

FY 2025 Earnings

Reported February 18, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$4.5B	—	$3.0B	—	51.6%
Op. Income	$2.1B	—	$1.1B	—	98.3%
Gross Margin	73.3%	—	82.9%	—	-9.6pp
Net Margin	42.1%	—	47.8%	—	-5.7pp
EPS (Diluted)	$2.05	—	$1.56	—	31.4%
Free Cash Flow	$1.6B	—	-$170M	—	1054.7%

Revenue Flow

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$399M
General & Administrative	$628M
SG&A Expenses	$1.0B
Other Expenses	$158M
Operating Expenses	$1.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$2.1B
Interest Income	$1.5B
Interest Expense	$0
Other Income/Expenses	$14M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$225M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$86M
EBIT	$2.1B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.5B
Cost of Revenue	$1.2B
GROSS PROFIT	$3.3B
R&D Expenses	$0
Selling & Marketing	$399M
General & Administrative	$628M
SG&A Expenses	$1.0B
Other Expenses	$158M
Operating Expenses	$1.2B
Cost & Expenses	$2.4B
OPERATING INCOME	$2.1B
Interest Income	$1.5B
Interest Expense	$0
Other Income/Expenses	$14M
INCOME BEFORE TAX	$2.1B
Income Tax Expense	$225M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$86M
EBIT	$2.1B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$86M
Stock-Based Compensation	$305M
Deferred Income Tax	$181M
Other Non-Cash Items	$5.3B
Change in Working Capital	-$6.1B
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$15M
Acquisitions (Net)	$0
Purchases of Investments	-$244M
Sales/Maturities of Investments	$0
Other Investing Activities	$400M
NET CASH FROM INVESTING	$141M
Net Debt Issuance	$451M
Common Stock Repurchased	-$653M
Common Dividends Paid	$0
Other Financing Activities	-$426M
NET CASH FROM FINANCING	-$590M
FREE CASH FLOW	$1.6B
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.3B
Short-Term Investments	$3.8B
Net Receivables	$20.8B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$28.9B
PP&E (Net)	$154M
Goodwill	$385M
Intangible Assets	$168M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$8.6B
TOTAL NON-CURRENT ASSETS	$9.3B
TOTAL ASSETS	$38.1B
Account Payables	$463M
Short-Term Debt	$15.4B
Deferred Revenue	$0
Other Current Liabilities	$914M
TOTAL CURRENT LIABILITIES	$28.8B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$215M
TOTAL NON-CURRENT LIABILITIES	$215M
TOTAL LIABILITIES	$29.0B
Common Stock	$0
Additional Paid-In Capital	$11.3B
Retained Earnings	-$2.2B
Treasury Stock	$0
Accum. Other Comp. Income	$8M
Other Equity	$11M
TOTAL STOCKHOLDERS' EQUITY	$9.2B
Minority Interest	$11M
TOTAL EQUITY	$9.2B
TOTAL LIABILITIES & EQUITY	$38.1B
Total Debt	$15.4B
Net Debt	$11.1B