Robinhood reported record fourth-quarter revenue of $1.28 billion, up 27% year-over-year. The revenue total missed a Street estimate of $1.34 billion, according to data from Benzinga Pro.
The company reported fourth-quarter earnings per share of 66 cents, beating a Street consensus estimate of 62 cents per share.
Transaction-based revenues were $776 million for the fourth quarter, broken down as follows:
Other transaction revenue: $147 million, up over 300%
Outside of transaction based revenue, the company reported net interest revenue of $411 million, up 39% year-over-year and other revenue of $96 million, up 109% year-over-year. Other revenue was driven by Robinhood Gold subscription revenue, which totaled around $50 million in the quarter.
Robinhood Gold subscribers were 4.2 million members at the end of the fourth quarter.
The company ended the quarter with 27.0 million funded customers, up 1.8 million in the quarter.
Robinhood had an average revenue per user of $191 in the fourth quarter, up 16% year-over-year.
Robinhood's full year revenue was $4.5 billion, a company record, up 52% year-over-year. The company's full year diluted earnings per share were $2.05.
The company reported a record $68 billion in net deposits for the full year. Total platform assets were up 68% year-over-year to $324 billion. The company had $15.9 billion in net deposits in the fourth quarter.
"Our vision hasn't changed: we are building the Financial SuperApp," Robinhood CEO Vlad Tenev said.
Robinhood Chief Financial Officer Shiv Verma highlighted the company's records set for the year in prepared remarks.
"2025 was a record year where we set new highs for net deposits, Gold subscribers, trading volumes, revenues and profits, and we closed the year with a strong Q4," Verma said.
The company highlighted its expanded product offerings, including Prediction Markets. Robinhood said it had over 12 billion event contracts traded in 2025. Event contracts traded were a record 8.5 billion in the fourth quarter.
What's Next For Robinhood Stock
The company provided its 2026 operating expenses and SBC guidance of $2.6 billion to $2.725 billion. Robinhood said this expense plan is meant to accelerate products, drive Net Deposit growth and boost revenue.
Robinhood also shared its preliminary January 2026 data, which includes net deposits of $4.5 billion, up 17% year-over-year.
The company said it had 200 million options contracts traded in January, up 20% year-over-year and equity notional trading volumes of $227 billion for the month, up 57% year-over-year.
Robinhood had 3.4 billion event contracts traded in January, a new monthly record.
"2026 is off to a strong start, and we are incredibly excited about our plan and momentum for the year ahead as we focus on shipping great products for customers and driving profitable growth for shareholders," Verma said.
Robinhood Stock Price Action
Robinhood shares are down 7.6% to $79.10 in after-hours trading Tuesday versus a 52-week trading range of $29.66 to $153.86.
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