Key facts: HOOD $16B dep; 28.7M; ARPU $200; $173M pred; Rothera $100M+

What happened

Robinhood reported $16B in net deposits, 28.7M funded customers, an average revenue per user of $200, and adjusted earnings of $0.60 per share. Prediction market revenue reached $173M, and its Rothera exchange with Susquehanna topped $100M annualized.

Confirmed

Global impact / market context

More funded customers and higher revenue per user show Robinhood is earning more from each account, while prediction markets and the Rothera exchange add new fee streams. That reduces reliance on crypto trading, whose volume fell 38%, which means less of total revenue depends on volatile coin trading.

Analyst inference

Investors are weighing fast growth in event contracts and new products against weaker crypto trading. Heavy activity in equities, options, and agentic trading accounts, which are automated trading accounts, supports transaction revenue, while tokenized private shares remain only a plan pending regulatory approval.

Analyst inference

What to watch

1. Crypto transaction volume fell 38% last quarter while non-crypto segments grew, so watch whether crypto weakness continues to drag total transaction revenue even as other businesses expand. Confirmed
2. Robinhood plans to offer tokenized private company shares abroad, pending regulatory approvals, and is exploring a compliant U.S. path for accredited investors, which means qualifying investors; watch whether approvals arrive. Proposed
3. Watch whether prediction market and Rothera revenue holds above the $100M annualized pace, since that new fee stream offsets slower crypto trading and supports profit per sale. Analyst inference

Evidence

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