Q2 2026 Earnings

Annualized Growth Rate with Respect to Net Deposits

28.0%

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Net Deposit Growth Rate, Trailing 12 Months

27.0%

Financial Results and Performance With respect to the three months ended June 30, 2026, as compared to the three months ended June 30, 2025: • total net revenues increased 32% to $1,308 million compared to $989 million; • net income attributable to Robinhood increased 45% to $561 million, compared to $386 million; • diluted EPS increased 48% to $0.62, compared to $0.42; • total operating expenses increased 33% to $734 million compared to $550 million; • Adjusted EBITDA (non-GAAP) increased 35% to $741 million compared to $549 million ; • Funded Customers increased by 1.9 million, or 7%, to 28.4 million compared to 26.5 million, and Investment Accounts increased by 2.5 million, or 9%, to 29.9 million compared to 27.4 million; • Total Platform Assets increased 32% to $368.7 billion compared to $278.6 billion, primarily driven by continued Net Deposits and higher equity valuations, partially offset by lower cryptocurrency valuations; • Net Deposits were $21.7 billion, which translates to an annualized growth rate of 28% relative to Total Platform Assets at the end of the first quarter of 2026, compared to $13.8 billion, which translates to an annualized growth rate of 25% relative to Total Platform Assets at the end of the first quarter of 2025. Over the past twelve months, Net Deposits were $75.7 billion, a growth rate of 27% relative to Total Platform Assets at the end of the second quarter of 2025; • ARPU increased 24% to $187 compared to $151; and • Robinhood Gold Subscribers increased 39% to 4.84 million compared to 3.48 million. Adjusted EBITDA is a non-GAAP financial measure. For more information about Adjusted EBITDA, including the definition and limitations of such measure, and a reconciliation of net income to Adjusted EBITDA, please see “—Non-GAAP Financial Measures” below. Recent Developments Workforce Reduction On June 16, 2026, we announced a reduction in force as part of our efforts to maintain a high performance culture, further accelerate product velocity, and remain lean and disciplined. This reduction in force involved approximately 10% of our full-time employees, and additionally involved the closure of a small number of open roles across the Company. 52 Table of Contents Key Performance Metrics Key performance metrics for the relevant periods were as follows: Three Months Ended June 30, 2025 | | | 2026 % Change Funded Customers (1) (in millions) 26.5 | | | 28.4 | | | 7 | | % Total Platform Assets (2) (in billions) $ | | 278.6 | | | $ | | 368.7 | | | 32 | | % Net Deposits (in billions) $ | | 13.8 | | | $ | | 21.7 | | | NM Annualized Growth Rate with respect to Net Deposits | | | 25% | | | 28% | | | NM ARPU (in dollars) $ | | 151 | | | $ | | 187 | | | 24 | | % Robinhood Gold Subscribers (in millions) 3.48 | | | 4.84 | | | 39 | | %

Net Deposits

$21.70B

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Net Deposits, Trailing 12 Months

$75.70B

Financial Results and Performance With respect to the three months ended June 30, 2026, as compared to the three months ended June 30, 2025: • total net revenues increased 32% to $1,308 million compared to $989 million; • net income attributable to Robinhood increased 45% to $561 million, compared to $386 million; • diluted EPS increased 48% to $0.62, compared to $0.42; • total operating expenses increased 33% to $734 million compared to $550 million; • Adjusted EBITDA (non-GAAP) increased 35% to $741 million compared to $549 million ; • Funded Customers increased by 1.9 million, or 7%, to 28.4 million compared to 26.5 million, and Investment Accounts increased by 2.5 million, or 9%, to 29.9 million compared to 27.4 million; • Total Platform Assets increased 32% to $368.7 billion compared to $278.6 billion, primarily driven by continued Net Deposits and higher equity valuations, partially offset by lower cryptocurrency valuations; • Net Deposits were $21.7 billion, which translates to an annualized growth rate of 28% relative to Total Platform Assets at the end of the first quarter of 2026, compared to $13.8 billion, which translates to an annualized growth rate of 25% relative to Total Platform Assets at the end of the first quarter of 2025. Over the past twelve months, Net Deposits were $75.7 billion, a growth rate of 27% relative to Total Platform Assets at the end of the second quarter of 2025; • ARPU increased 24% to $187 compared to $151; and • Robinhood Gold Subscribers increased 39% to 4.84 million compared to 3.48 million. Adjusted EBITDA is a non-GAAP financial measure. For more information about Adjusted EBITDA, including the definition and limitations of such measure, and a reconciliation of net income to Adjusted EBITDA, please see “—Non-GAAP Financial Measures” below. Recent Developments Workforce Reduction On June 16, 2026, we announced a reduction in force as part of our efforts to maintain a high performance culture, further accelerate product velocity, and remain lean and disciplined. This reduction in force involved approximately 10% of our full-time employees, and additionally involved the closure of a small number of open roles across the Company. 52 Table of Contents Key Performance Metrics Key performance metrics for the relevant periods were as follows: Three Months Ended June 30, 2025 | | | 2026 % Change Funded Customers (1) (in millions) 26.5 | | | 28.4 | | | 7 | | % Total Platform Assets (2) (in billions) $ | | 278.6 | | | $ | | 368.7 | | | 32 | | % Net Deposits (in billions) $ | | 13.8 | | | $ | | 21.7 | | | NM Annualized Growth Rate with respect to Net Deposits | | | 25% | | | 28% | | | NM ARPU (in dollars) $ | | 151 | | | $ | | 187 | | | 24 | | % Robinhood Gold Subscribers (in millions) 3.48 | | | 4.84 | | | 39 | | %

Margin Book

$21.64B

The following table summarizes interest-earning assets, the revenue generated by these assets, and their respective annualized yields: (in millions, except for annualized yield) | | Margin Book Cash and deposits (1) Cash Sweep (off-balance sheet) Credit card, net (2) Total interest-earning assets | | | Securities lending, net Interest expenses related to credit facilities (5) Other | | Total net interest revenues Three Months Ended June 30, 2026 June 30, 2026 | | $ | | 21,641 | | | $ | | 18,687 | | | $ | | 29,707 | | | $ | | 1,457 | | | $ | | 71,492 March 31, 2026 | | 16,953 | | | 16,669 | | | 26,023 | | | 1,132 | | | 60,777 Average (3) 19,015 | | | 18,001 | | | 28,020 | | | 1,347 | | | 66,383 Revenue (expense) | | $ | | 215 | | | $ | | 91 | | | $ | | 41 | | | $ | | 40 | | | $ | | 387 | | | | $ | | 10 | | | $ | | (10) | | | $ | | 2 | | | $ | | 389 Annualized yield (4) 4.52% | | 2.02% | | 0.59% | | 11.88 | | % | | 2.33% | | | | | | 2.34% Three Months Ended March 31, 2026 March 31, 2026 | | $ | | 16,953 | | | $ | | 16,669 | | | $ | | 26,023 | | | $ | | 1,132 | | | $ | | 60,777 December 31, 2025 | | 16,823 | | | 10,995 | | | 32,786 | | | 1,040 | | | 61,644 Average (3) 17,344 | | | 13,974 | | | 29,019 | | | 1,084 | | | 61,421 Revenue (expense) | | $ | | 193 | | | $ | | 92 | | | $ | | 45 | | | $ | | 32 | | | $ | | 362 | | | | $ | | 4 | | | $ | | (8) | | | $ | | 1 | | | $ | | 359 Annualized yield (4) 4.45% | | 2.63% | | 0.62% | | 11.81 | | % | | 2.36% | | | | | | 2.34% Three Months Ended June 30, 2025 June 30, 2025 | | $ | | 9,457 | | | $ | | 14,045 | | | $ | | 32,719 | | | $ | | 562 | | | $ | | 56,783 March 31, 2025 | | 8,802 | | | 9,763 | | | 28,187 | | | 429 | | | 47,181 Average (3) 8,912 | | | 11,815 | | | 30,148 | | | 513 | | | 51,388 Revenue (expense) | | $ | | 114 | | | $ | | 123 | | | $ | | 60 | | | $ | | 13 | | | $ | | 310 | | | | $ | | 54 | | | $ | | (8) | | | $ | | 1 | | | $ | | 357 Annualized yield (4) 5.12% | | 4.16% | | 0.80% | | 10.14% | | 2.41% | | | | | | 2.78% Six Months Ended June 30, 2026 June 30, 2026 | | $ | | 21,641 | | | $ | | 18,687 | | | $ | | 29,707 | | | $ | | 1,457 | | | $ | | 71,492 December 31, 2025 | | 16,823 | | | 10,995 | | | 32,786 | | | 1,040 | | | 61,644 Average (3) 18,355 | | | 15,890 | | | 28,876 | | | 1,228 | | | 64,349 Revenue (expense) | | $ | | 408 | | | $ | | 183 | | | $ | | 86 | | | $ | | 72 | | | $ | | 749 | | | | $ | | 14 | | | $ | | (18) | | | $ | | 3 | | | $ | | 748 Annual yield (4) 4.45% | | 2.30% | | 0.60% | | 11.73% | | 2.33% | | | | | | 2.32% Six Months Ended June 30, 2025 June 30, 2025 | | $ | | 9,457 | | | $ | | 14,045 | | | $ | | 32,719 | | | $ | | 562 | | | $ | | 56,783 December 31, 2024 | | 7,909 | | | 9,943 | | | 26,064 | | | 391 | | | 44,307 Average (3) 8,623 | | | 11,111 | | | 28,468 | | | 462 | | | 48,664 Revenue (expense) | | $ | | 224 | | | $ | | 228 | | | $ | | 108 | | | $ | | 23 | | | $ | | 583 | | | | $ | | 77 | | | $ | | (14) | | | $ | | 1 | | | $ | | 647 Annualized yield (4) 5.20% | | 4.10% | | 0.76% | | 9.96% | | 2.40% | | | | | | 2.66% __________ (1) Includes c ash and cas h equivalents, restricted cash, segregated cash, cash equivalents, and securities under federal and other regulations, deposits with clearing organizations, and investments. (2) Credit card, net consists of i) an off-balance sheet amount representing customer principal amounts funded by Coastal Bank under the Program Agreement. Under the Program Agreement, Robinhood Credit collects interest from customers that carry a balance and pays interest on the amount funded by Coastal Bank, with the difference b etween those amounts resulting in net interest revenue and ii) an on-balance sheet amount representing purchased credit card receivables by the Trust. Robinhood Credit collects interest from customers that carry balances and pays interest on the amount funded through the Trust, with the difference in those amounts resulting in net interest revenues. As of June 30, 2026, the off-balance sheet amount funded under the Program agreement was $214 million and the on-balance sheet amount was $1,243 million. Refer to Note 11 - Financing Activities and Off-Balance Sheet Risk to our unaudited condensed consolidated financial statements in this Quarterly Report for more information. (3) Average balance rows represent the simple average of month-end balances in a given period. (4) Annualized yield is calculated by annualizing revenue for the given period and dividing by the applicable average asset balance. (5) Includes interest expenses related to our revolving credit facilities; interest expense related to the Trust is included in the credit card, net interest yield calculation. Refer to Note 11 - Financing Activities and Off-Balance Sheet Risk to our unaudited condensed consolidated financial statements in this Quarterly Report for more information.

Churned Customers

400.0K

(1) The following table describes the annual changes within Funded Customers: Three Months Ended June 30, (in millions) | | | 2025 | | | 2026 | | | % Change Beginning Funded Customers | | | 25.8 | | | | 27.4 | | | | 6 | | % New Funded Customers | | | 0.6 | | | | 0.9 | | | | 50 | | % Resurrected Customers | | | 0.1 | | | | 0.2 | | | | 100 | | % Acquired customers | | | 0.5 | | | | 0.3 | | | | NM Churned Customers | | | (0.5) | | | | (0.4) | | | | (20) | | % Ending Funded Customers | | | 26.5 | | | | 28.4 | | | | 7 | | %

Resurrected Customers

200.0K

(1) The following table describes the annual changes within Funded Customers: Three Months Ended June 30, (in millions) | | | 2025 | | | 2026 | | | % Change Beginning Funded Customers | | | 25.8 | | | | 27.4 | | | | 6 | | % New Funded Customers | | | 0.6 | | | | 0.9 | | | | 50 | | % Resurrected Customers | | | 0.1 | | | | 0.2 | | | | 100 | | % Acquired customers | | | 0.5 | | | | 0.3 | | | | NM Churned Customers | | | (0.5) | | | | (0.4) | | | | (20) | | % Ending Funded Customers | | | 26.5 | | | | 28.4 | | | | 7 | | %

Funded Customers

28.4M

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Investment Accounts

29.9M

Financial Results and Performance With respect to the three months ended June 30, 2026, as compared to the three months ended June 30, 2025: • total net revenues increased 32% to $1,308 million compared to $989 million; • net income attributable to Robinhood increased 45% to $561 million, compared to $386 million; • diluted EPS increased 48% to $0.62, compared to $0.42; • total operating expenses increased 33% to $734 million compared to $550 million; • Adjusted EBITDA (non-GAAP) increased 35% to $741 million compared to $549 million ; • Funded Customers increased by 1.9 million, or 7%, to 28.4 million compared to 26.5 million, and Investment Accounts increased by 2.5 million, or 9%, to 29.9 million compared to 27.4 million; • Total Platform Assets increased 32% to $368.7 billion compared to $278.6 billion, primarily driven by continued Net Deposits and higher equity valuations, partially offset by lower cryptocurrency valuations; • Net Deposits were $21.7 billion, which translates to an annualized growth rate of 28% relative to Total Platform Assets at the end of the first quarter of 2026, compared to $13.8 billion, which translates to an annualized growth rate of 25% relative to Total Platform Assets at the end of the first quarter of 2025. Over the past twelve months, Net Deposits were $75.7 billion, a growth rate of 27% relative to Total Platform Assets at the end of the second quarter of 2025; • ARPU increased 24% to $187 compared to $151; and • Robinhood Gold Subscribers increased 39% to 4.84 million compared to 3.48 million. Adjusted EBITDA is a non-GAAP financial measure. For more information about Adjusted EBITDA, including the definition and limitations of such measure, and a reconciliation of net income to Adjusted EBITDA, please see “—Non-GAAP Financial Measures” below. Recent Developments Workforce Reduction On June 16, 2026, we announced a reduction in force as part of our efforts to maintain a high performance culture, further accelerate product velocity, and remain lean and disciplined. This reduction in force involved approximately 10% of our full-time employees, and additionally involved the closure of a small number of open roles across the Company. 52 Table of Contents Key Performance Metrics Key performance metrics for the relevant periods were as follows: Three Months Ended June 30, 2025 | | | 2026 % Change Funded Customers (1) (in millions) 26.5 | | | 28.4 | | | 7 | | % Total Platform Assets (2) (in billions) $ | | 278.6 | | | $ | | 368.7 | | | 32 | | % Net Deposits (in billions) $ | | 13.8 | | | $ | | 21.7 | | | NM Annualized Growth Rate with respect to Net Deposits | | | 25% | | | 28% | | | NM ARPU (in dollars) $ | | 151 | | | $ | | 187 | | | 24 | | % Robinhood Gold Subscribers (in millions) 3.48 | | | 4.84 | | | 39 | | %

Average Revenue Per User

$187

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Cash Held by Customers

$45.60B

(2) The following table sets out the components of Total Platform Assets by type of asset: Three Months Ended June 30, (in billions) | | | 2025 | | | 2026 | | | % Change Equities | | | $ | | 160.1 | | | | $ | | 265.5 | | | | 66 | | % Cryptocurrencies | | | 41.1 | | | | 26.3 | | | | (36) | | % Options and futures | | | 2.0 | | | | 2.9 | | | | 45 | | % RIA assets | | | 42.9 | | | | 50.0 | | | | 17 | | % Cash held by Customers | | | 41.8 | | | | 45.6 | | | | 9 | | % Receivables from Customers (primarily margin balances) | | | (9.3) | | | | (21.6) | | | | 132 | | % Total Platform Assets | | | $ | | 278.6 | | | | $ | | 368.7 | | | | 32 | | %

Cryptocurrencies in Total Platform Assets

$26.30B

(2) The following table sets out the components of Total Platform Assets by type of asset: Three Months Ended June 30, (in billions) | | | 2025 | | | 2026 | | | % Change Equities | | | $ | | 160.1 | | | | $ | | 265.5 | | | | 66 | | % Cryptocurrencies | | | 41.1 | | | | 26.3 | | | | (36) | | % Options and futures | | | 2.0 | | | | 2.9 | | | | 45 | | % RIA assets | | | 42.9 | | | | 50.0 | | | | 17 | | % Cash held by Customers | | | 41.8 | | | | 45.6 | | | | 9 | | % Receivables from Customers (primarily margin balances) | | | (9.3) | | | | (21.6) | | | | 132 | | % Total Platform Assets | | | $ | | 278.6 | | | | $ | | 368.7 | | | | 32 | | %

Equities in Total Platform Assets

$265.50B

(2) The following table sets out the components of Total Platform Assets by type of asset: Three Months Ended June 30, (in billions) | | | 2025 | | | 2026 | | | % Change Equities | | | $ | | 160.1 | | | | $ | | 265.5 | | | | 66 | | % Cryptocurrencies | | | 41.1 | | | | 26.3 | | | | (36) | | % Options and futures | | | 2.0 | | | | 2.9 | | | | 45 | | % RIA assets | | | 42.9 | | | | 50.0 | | | | 17 | | % Cash held by Customers | | | 41.8 | | | | 45.6 | | | | 9 | | % Receivables from Customers (primarily margin balances) | | | (9.3) | | | | (21.6) | | | | 132 | | % Total Platform Assets | | | $ | | 278.6 | | | | $ | | 368.7 | | | | 32 | | %

Options and Futures in Total Platform Assets

$2.90B

(2) The following table sets out the components of Total Platform Assets by type of asset: Three Months Ended June 30, (in billions) | | | 2025 | | | 2026 | | | % Change Equities | | | $ | | 160.1 | | | | $ | | 265.5 | | | | 66 | | % Cryptocurrencies | | | 41.1 | | | | 26.3 | | | | (36) | | % Options and futures | | | 2.0 | | | | 2.9 | | | | 45 | | % RIA assets | | | 42.9 | | | | 50.0 | | | | 17 | | % Cash held by Customers | | | 41.8 | | | | 45.6 | | | | 9 | | % Receivables from Customers (primarily margin balances) | | | (9.3) | | | | (21.6) | | | | 132 | | % Total Platform Assets | | | $ | | 278.6 | | | | $ | | 368.7 | | | | 32 | | %

RIA Assets

$50.00B

(2) The following table sets out the components of Total Platform Assets by type of asset: Three Months Ended June 30, (in billions) | | | 2025 | | | 2026 | | | % Change Equities | | | $ | | 160.1 | | | | $ | | 265.5 | | | | 66 | | % Cryptocurrencies | | | 41.1 | | | | 26.3 | | | | (36) | | % Options and futures | | | 2.0 | | | | 2.9 | | | | 45 | | % RIA assets | | | 42.9 | | | | 50.0 | | | | 17 | | % Cash held by Customers | | | 41.8 | | | | 45.6 | | | | 9 | | % Receivables from Customers (primarily margin balances) | | | (9.3) | | | | (21.6) | | | | 132 | | % Total Platform Assets | | | $ | | 278.6 | | | | $ | | 368.7 | | | | 32 | | %

Total Platform Assets

$368.70B

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Robinhood Gold Subscribers

4.8M

Key Performance Metrics Terms We use the following key performance metrics to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. ARPU We define Average Revenue Per User, or ARPU, as total revenue for a given period divided by the average number of Funded Customers on the last day of that period and the last day of the immediately preceding period. Figures in this Form 10-Q represent ARPU annualized for each three-month period presented Funded Customers We define a Funded Customer as a unique person who has at least one account with a Robinhood entity and, within the past 45 calendar days (a) had an account balance that was greater than zero (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) or (b) completed a transaction using any such account. Individuals who share a funded joint investing account are each considered to be a Funded Customer. Starting in June 2026, customers of WonderFi are also considered Funded Customers. Net Deposits We define Net Deposits as all cash deposits and asset transfers from customers, as well as dividends, interest, staking rewards, and cash or assets earned in connection with Company promotions (such as account transfer and retirement match incentives, free stock bonuses) received by customers, net of reversals, customer cash withdrawals, margin and lending interest, Robinhood Gold subscription fees, and assets transferred off of our platforms for a stated period. As previously disclosed, due to data limitations we did not include TradePMR client figures in our Net Deposits key performance metric prior to March 2026. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits also include results from WonderFi. Total Platform Assets We define Total Platform Assets as the sum of the fair value of all equities, options, cryptocurrency, futures (including options on futures and swaps, including event contracts), cash held by users in their accounts, net of receivables from users (previously reported as Assets Under Custody), and any such assets managed by RIAs using TradePMR’s platform that are not custodied by Robinhood, as of a stated date or period end on a trade date basis. Net Deposits and net market gains (losses) drive the change in Total Platform Assets in any given period. Starting in June 2025, the fair value of all cryptocurrency includes cryptocurrency on Bitstamp. Starting in June 2026, the fair value of all cryptocurrency also includes cryptocurrency on WonderFi. Total Platform Assets also include cryptocurrency lent through platform-enabled lending programs, where customers may recall such assets at any time through the platform. Robinhood Gold Subscribers We define a Robinhood Gold Subscriber as a unique person who has at least one account with a Robinhood entity and who, as of the end of the relevant period (a) is subscribed to Robinhood Gold and (b) has made at least one Robinhood Gold subscription fee payment. 4 Table of Contents Other Glossary Terms ACATS | | Automated Customer Account Transfer Service A system that automates and standardizes procedures for the transfer of assets in a customer account from one brokerage firm and/or bank to another. Cash Sweep We define Cash Sweep as the period-end total amount of participating users’ uninvested brokerage and banking cash that has been automatically “swept” or moved from their accounts into deposits for their benefit at a network of program banks. This is an off-balance-sheet amount. Robinhood earns a net interest spread on Cash Sweep balances based on the interest rate offered by the banks less the interest rate given to users as stated in our program terms. This includes balances from customers of RIAs using TradePMR’s platform. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending, resulting in over $6 billion of Cash Sweep balances moving to Cash and Deposits in the form of customer free credit balances. Churned Customers A Funded Customer is considered “Churned” if it was ever a New Funded Customer whose account balance (measured as the fair value of assets in the account less any amount due from the user and excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) drops to or below zero and has not completed a transaction using any account with a Robinhood entity for at least 45 consecutive calendar days. Negative balances typically result from Fraudulent Deposit Transactions (which occur when users initiate deposits into their accounts, make trades on our platforms using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount) and unauthorized debit card use, and less often, from margin loans. Growth Rate and Annualized Growth Rate with respect to Net Deposits Growth rate is calculated as aggregate Net Deposits over a specified 12 month period, divided by Total Platform Assets for the fiscal quarter that immediately precedes such 12 month period. Annualized growth rate is calculated as Net Deposits for a specified quarter multiplied by 4 and divided by Total Platform Assets for the immediately preceding quarter. Investment Accounts | | We define an Investment Account as a funded individual brokerage account, a funded joint investing account, a funded IRA, a funded custodial account, or an account with an RIA using TradePMR’s platform. Starting in September 2025, a Funded Customer can have multiple Investment Accounts - one or more individual brokerage accounts, a joint investing account, a funded custodial account, a traditional IRA, a Roth IRA, and/or an RIA custody account using TradePMR’s platform. Investment Accounts do not include Bitstamp as such accounts are not brokerage or other Investment Accounts. Margin Book We define Margin Book as our period-end aggregate outstanding margin loan balances receivable (i.e., the period-end total amount we are owed by customers on loans made for the purchase of securities, supported by a pledge of assets in their margin-enabled brokerage accounts). This includes margin loan balances from customers of RIAs using TradePMR’s platform. New Funded Customers We define a New Funded Customer as a unique person who became a Funded Customer for the first time during the relevant period. Notional Trading Volume | | We define Notional Trading Volume, or Notional Volume, for any specified asset class as the aggregate dollar value (purchase price or sale price as applicable) of trades executed in that asset class on our platforms over a specified period of time. Crypto Notional Volume includes both Robinhood App Notional Volume and Bitstamp Notional Volume. Robinhood App Notional Volume represents the dollar value of executed crypto trades on the Robinhood platform over a specified period of time, and, starting in June 2026, includes the dollar value of executed crypto trades from WonderFi customers. Bitstamp Notional Volume represents the dollar value of executed crypto trades on the Bitstamp platform over a specified period of time. For example, each $1 of transaction value executed between a buyer and seller is counted as $1 of transaction value in the relevant period, rather than $2 if counted for each of the buyer and seller. Options Contracts Traded We define Options Contracts Traded as the total number of options contracts bought or sold over a specified period of time. Each contract generally entitles the holder to trade 100 shares of the underlying stock. Resurrected Customers A Funded Customer is considered “Resurrected” in a stated period if it was a Churned Customer as of the end of the immediately preceding period and its balance (excluding amounts that are deposited into a Funded Customer account by the Company with no action taken by the unique person) rises above zero or it completes a transaction using its account.

Crypto Notional Volume per Trader YoY Growth

-20.0%

Transaction-Based Revenues Three Months Ended June 30, | | | | | Six Months Ended June 30, (in millions, except for percentages) | | 2025 | | | 2026 | | | % Change | | | 2025 | | | 2026 | | | % Change Transaction-based revenues: Options | | $ | | 265 | | | $ | | 342 | | | 29 | | % | | | $ | | 505 | | | $ | | 602 | | | 19 | | % Event contracts | | 10 | | | 156 | | | NM | | | 13 | | | 260 | | | NM Cryptocurrencies | | 160 | | | 100 | | | (38) | | % | | | 412 | | | 234 | | | (43) | | % Equities | | 66 | | | 129 | | | 95 | | % | | | 122 | | | 211 | | | 73 | | % Other | | 38 | | | 49 | | | 29 | | % | | | 70 | | | 92 | | | 31 | | % Total transaction-based revenues | | $ | | 539 | | | $ | | 776 | | | 44 | | % | | | $ | | 1,122 | | | $ | | 1,399 | | | 25 | | % Transaction-based revenues as a % of total net revenues: Options | | 26% | | | 26% | | | | | 27% | | | 25% Event contracts | | 1% | | | 12% | | | | | 1% | | | 11% Cryptocurrencies | | 16% | | | 8% | | | | | 22% | | | 10% Equities | | 7% | | | 10% | | | | | 6% | | | 9% Other | | 4% | | | 3% | | | | | 3% | | | 4% Total transaction-based revenues | | 54% | | | 59% | | | | | 59% | | | 59% Transaction-based revenues increased by $237 million and $277 million, for the three and six months ended June 30, 2026, primarily driven by increases of $146 million and $247 million in event contracts, $77 million and $97 million in options, and $63 million and $89 million in equities, partially offset by decreases of $60 million and $178 million in cryptocurrencies. Options revenues increased due to a 43% and 32% increase in Options Contracts Traded per trader. The increase was partially offset by lower option rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates. Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to the same period in 2025 when the offering was still in its early stage. Cryptocurrencies revenues decreased primarily due to lower cryptocurrency rebate rates from crypto market makers, a 16% and 24% decrease in the number of users placing cryptocurrency trades, and a 20% and 21% decrease in the average Notional Trading Volume traded per trader, partially offset by cryptocurrencies revenues benefiting from our acquisition of Bitstamp. Equities revenues increased primarily due to a 56% and 51% increase in the average Notional Trading Volume traded per trader and a 13% and 6% increase in the number of users placing equity trades. Additionally, equities revenues increased as a result of higher equity rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates.

Crypto Traders YoY Growth

-16.0%

Transaction-Based Revenues Three Months Ended June 30, | | | | | Six Months Ended June 30, (in millions, except for percentages) | | 2025 | | | 2026 | | | % Change | | | 2025 | | | 2026 | | | % Change Transaction-based revenues: Options | | $ | | 265 | | | $ | | 342 | | | 29 | | % | | | $ | | 505 | | | $ | | 602 | | | 19 | | % Event contracts | | 10 | | | 156 | | | NM | | | 13 | | | 260 | | | NM Cryptocurrencies | | 160 | | | 100 | | | (38) | | % | | | 412 | | | 234 | | | (43) | | % Equities | | 66 | | | 129 | | | 95 | | % | | | 122 | | | 211 | | | 73 | | % Other | | 38 | | | 49 | | | 29 | | % | | | 70 | | | 92 | | | 31 | | % Total transaction-based revenues | | $ | | 539 | | | $ | | 776 | | | 44 | | % | | | $ | | 1,122 | | | $ | | 1,399 | | | 25 | | % Transaction-based revenues as a % of total net revenues: Options | | 26% | | | 26% | | | | | 27% | | | 25% Event contracts | | 1% | | | 12% | | | | | 1% | | | 11% Cryptocurrencies | | 16% | | | 8% | | | | | 22% | | | 10% Equities | | 7% | | | 10% | | | | | 6% | | | 9% Other | | 4% | | | 3% | | | | | 3% | | | 4% Total transaction-based revenues | | 54% | | | 59% | | | | | 59% | | | 59% Transaction-based revenues increased by $237 million and $277 million, for the three and six months ended June 30, 2026, primarily driven by increases of $146 million and $247 million in event contracts, $77 million and $97 million in options, and $63 million and $89 million in equities, partially offset by decreases of $60 million and $178 million in cryptocurrencies. Options revenues increased due to a 43% and 32% increase in Options Contracts Traded per trader. The increase was partially offset by lower option rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates. Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to the same period in 2025 when the offering was still in its early stage. Cryptocurrencies revenues decreased primarily due to lower cryptocurrency rebate rates from crypto market makers, a 16% and 24% decrease in the number of users placing cryptocurrency trades, and a 20% and 21% decrease in the average Notional Trading Volume traded per trader, partially offset by cryptocurrencies revenues benefiting from our acquisition of Bitstamp. Equities revenues increased primarily due to a 56% and 51% increase in the average Notional Trading Volume traded per trader and a 13% and 6% increase in the number of users placing equity trades. Additionally, equities revenues increased as a result of higher equity rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates.

Equity Notional Volume per Trader YoY Growth

56.0%

Transaction-Based Revenues Three Months Ended June 30, | | | | | Six Months Ended June 30, (in millions, except for percentages) | | 2025 | | | 2026 | | | % Change | | | 2025 | | | 2026 | | | % Change Transaction-based revenues: Options | | $ | | 265 | | | $ | | 342 | | | 29 | | % | | | $ | | 505 | | | $ | | 602 | | | 19 | | % Event contracts | | 10 | | | 156 | | | NM | | | 13 | | | 260 | | | NM Cryptocurrencies | | 160 | | | 100 | | | (38) | | % | | | 412 | | | 234 | | | (43) | | % Equities | | 66 | | | 129 | | | 95 | | % | | | 122 | | | 211 | | | 73 | | % Other | | 38 | | | 49 | | | 29 | | % | | | 70 | | | 92 | | | 31 | | % Total transaction-based revenues | | $ | | 539 | | | $ | | 776 | | | 44 | | % | | | $ | | 1,122 | | | $ | | 1,399 | | | 25 | | % Transaction-based revenues as a % of total net revenues: Options | | 26% | | | 26% | | | | | 27% | | | 25% Event contracts | | 1% | | | 12% | | | | | 1% | | | 11% Cryptocurrencies | | 16% | | | 8% | | | | | 22% | | | 10% Equities | | 7% | | | 10% | | | | | 6% | | | 9% Other | | 4% | | | 3% | | | | | 3% | | | 4% Total transaction-based revenues | | 54% | | | 59% | | | | | 59% | | | 59% Transaction-based revenues increased by $237 million and $277 million, for the three and six months ended June 30, 2026, primarily driven by increases of $146 million and $247 million in event contracts, $77 million and $97 million in options, and $63 million and $89 million in equities, partially offset by decreases of $60 million and $178 million in cryptocurrencies. Options revenues increased due to a 43% and 32% increase in Options Contracts Traded per trader. The increase was partially offset by lower option rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates. Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to the same period in 2025 when the offering was still in its early stage. Cryptocurrencies revenues decreased primarily due to lower cryptocurrency rebate rates from crypto market makers, a 16% and 24% decrease in the number of users placing cryptocurrency trades, and a 20% and 21% decrease in the average Notional Trading Volume traded per trader, partially offset by cryptocurrencies revenues benefiting from our acquisition of Bitstamp. Equities revenues increased primarily due to a 56% and 51% increase in the average Notional Trading Volume traded per trader and a 13% and 6% increase in the number of users placing equity trades. Additionally, equities revenues increased as a result of higher equity rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates.

Equity Traders YoY Growth

13.0%

Transaction-Based Revenues Three Months Ended June 30, | | | | | Six Months Ended June 30, (in millions, except for percentages) | | 2025 | | | 2026 | | | % Change | | | 2025 | | | 2026 | | | % Change Transaction-based revenues: Options | | $ | | 265 | | | $ | | 342 | | | 29 | | % | | | $ | | 505 | | | $ | | 602 | | | 19 | | % Event contracts | | 10 | | | 156 | | | NM | | | 13 | | | 260 | | | NM Cryptocurrencies | | 160 | | | 100 | | | (38) | | % | | | 412 | | | 234 | | | (43) | | % Equities | | 66 | | | 129 | | | 95 | | % | | | 122 | | | 211 | | | 73 | | % Other | | 38 | | | 49 | | | 29 | | % | | | 70 | | | 92 | | | 31 | | % Total transaction-based revenues | | $ | | 539 | | | $ | | 776 | | | 44 | | % | | | $ | | 1,122 | | | $ | | 1,399 | | | 25 | | % Transaction-based revenues as a % of total net revenues: Options | | 26% | | | 26% | | | | | 27% | | | 25% Event contracts | | 1% | | | 12% | | | | | 1% | | | 11% Cryptocurrencies | | 16% | | | 8% | | | | | 22% | | | 10% Equities | | 7% | | | 10% | | | | | 6% | | | 9% Other | | 4% | | | 3% | | | | | 3% | | | 4% Total transaction-based revenues | | 54% | | | 59% | | | | | 59% | | | 59% Transaction-based revenues increased by $237 million and $277 million, for the three and six months ended June 30, 2026, primarily driven by increases of $146 million and $247 million in event contracts, $77 million and $97 million in options, and $63 million and $89 million in equities, partially offset by decreases of $60 million and $178 million in cryptocurrencies. Options revenues increased due to a 43% and 32% increase in Options Contracts Traded per trader. The increase was partially offset by lower option rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates. Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to the same period in 2025 when the offering was still in its early stage. Cryptocurrencies revenues decreased primarily due to lower cryptocurrency rebate rates from crypto market makers, a 16% and 24% decrease in the number of users placing cryptocurrency trades, and a 20% and 21% decrease in the average Notional Trading Volume traded per trader, partially offset by cryptocurrencies revenues benefiting from our acquisition of Bitstamp. Equities revenues increased primarily due to a 56% and 51% increase in the average Notional Trading Volume traded per trader and a 13% and 6% increase in the number of users placing equity trades. Additionally, equities revenues increased as a result of higher equity rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates.

Options Contracts Traded per Trader YoY Growth

43.0%

Transaction-Based Revenues Three Months Ended June 30, | | | | | Six Months Ended June 30, (in millions, except for percentages) | | 2025 | | | 2026 | | | % Change | | | 2025 | | | 2026 | | | % Change Transaction-based revenues: Options | | $ | | 265 | | | $ | | 342 | | | 29 | | % | | | $ | | 505 | | | $ | | 602 | | | 19 | | % Event contracts | | 10 | | | 156 | | | NM | | | 13 | | | 260 | | | NM Cryptocurrencies | | 160 | | | 100 | | | (38) | | % | | | 412 | | | 234 | | | (43) | | % Equities | | 66 | | | 129 | | | 95 | | % | | | 122 | | | 211 | | | 73 | | % Other | | 38 | | | 49 | | | 29 | | % | | | 70 | | | 92 | | | 31 | | % Total transaction-based revenues | | $ | | 539 | | | $ | | 776 | | | 44 | | % | | | $ | | 1,122 | | | $ | | 1,399 | | | 25 | | % Transaction-based revenues as a % of total net revenues: Options | | 26% | | | 26% | | | | | 27% | | | 25% Event contracts | | 1% | | | 12% | | | | | 1% | | | 11% Cryptocurrencies | | 16% | | | 8% | | | | | 22% | | | 10% Equities | | 7% | | | 10% | | | | | 6% | | | 9% Other | | 4% | | | 3% | | | | | 3% | | | 4% Total transaction-based revenues | | 54% | | | 59% | | | | | 59% | | | 59% Transaction-based revenues increased by $237 million and $277 million, for the three and six months ended June 30, 2026, primarily driven by increases of $146 million and $247 million in event contracts, $77 million and $97 million in options, and $63 million and $89 million in equities, partially offset by decreases of $60 million and $178 million in cryptocurrencies. Options revenues increased due to a 43% and 32% increase in Options Contracts Traded per trader. The increase was partially offset by lower option rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates. Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to the same period in 2025 when the offering was still in its early stage. Cryptocurrencies revenues decreased primarily due to lower cryptocurrency rebate rates from crypto market makers, a 16% and 24% decrease in the number of users placing cryptocurrency trades, and a 20% and 21% decrease in the average Notional Trading Volume traded per trader, partially offset by cryptocurrencies revenues benefiting from our acquisition of Bitstamp. Equities revenues increased primarily due to a 56% and 51% increase in the average Notional Trading Volume traded per trader and a 13% and 6% increase in the number of users placing equity trades. Additionally, equities revenues increased as a result of higher equity rebate rates due to the mix of ticker symbols traded as different ticker symbols pay different rebate rates.