# Robinhood (HOOD) Q2 2026 earnings

Results filed 2026-07-29 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/hood/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1783879/000178387926000113/0001783879-26-000113-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Robinhood reported Q2 2026 total net revenues up 32% year-over-year to a record $1.31 billion, with net income up 48% to $573 million and diluted EPS up 48% to $0.62.

Robinhood had a record quarter. Revenue rose 32% to $1.31 billion, driven by trading: event contracts revenue was $156 million (up over 10x), options revenue $342 million (up 29%) and equities revenue $129 million (up 95%). Crypto revenue fell 38% to $100 million. Net income was $573 million, including $129 million of gains mostly from deconsolidating Robinhood Ventures Fund I. Net Deposits were a record $21.7 billion, and Gold subscribers reached 4.8 million.
Management lowered and tightened its 2026 Adjusted Operating Expenses and SBC outlook to $2.675 to $2.775 billion, from $2.7 billion to $2.825 billion, citing efficiencies captured and costs from two new businesses, Rothera and WonderFi. The main tension is cost and dependence on trading: operating expenses rose 33% to $734 million, including restructuring charges, and the company flags regulatory risk around event contracts and payment for order flow. No revenue or earnings guidance was given.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Total net revenues | $1.31 billion | up 32% year-over-year | GAAP |
| Net income | $573 million | up 48% year-over-year | GAAP |
| Diluted EPS | $0.62 | up 48% year-over-year | GAAP |
| Adjusted EBITDA | $741 million | up 35% year-over-year | non-GAAP |
| Total operating expenses | $734 million | up 33% year-over-year | GAAP |
| Adjusted Operating Expenses and SBC | $641 million | up 23% year-over-year | non-GAAP |
| Net cash provided by operating activities | $720 |  | GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Transaction-based revenues | $776 million | up 44% year-over-year |
| Net interest revenues | $389 million | up 9% year-over-year |
| Other revenues | $143 million | up 54% year-over-year |
| Funded Customers | 28.4 million | up 7% year-over-year |
| Robinhood Gold Subscribers | 4.8 million | up 39% year-over-year |
| Total Platform Assets | $369 billion | up 32% year-over-year |
| Net Deposits | $21.7 billion | annualized growth rate of 28% |
| Event Contracts Traded | 13.6 billion | up over 10x year-over-year |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Adjusted Operating Expenses and SBC | 2026 | $2.675 to $2.775 billion |

## Key takeaways

1. **Record revenue led by trading and event contracts** Total net revenues rose 32% to $1.31 billion. Transaction-based revenues increased 44% to $776 million, with event contracts revenue of $156 million, up over 10x.
2. **Crypto weakness offset by other trading lines** Cryptocurrencies revenue was $100 million, down 38%, while options revenue of $342 million rose 29% and equities revenue of $129 million rose 95%.
3. **Net income includes one-time deconsolidation gains** Net income of $573 million included $129 million of gains primarily related to the deconsolidation of RVI, contributing $0.14 to diluted EPS of $0.62.
4. **Customer growth and record deposits continue** Net Deposits were $21.7 billion and Total Platform Assets reached $369 billion. Robinhood Gold Subscribers hit 4.8 million, a 17 percent adoption rate.
5. **2026 expense outlook lowered and tightened** The Adjusted Operating Expenses and SBC outlook is now $2.675 to $2.775 billion, versus $2.7 billion to $2.825 billion previously, with Rothera and WonderFi costs now included.

## Questions

**What were Robinhood's Q2 2026 headline results?** Total net revenues rose 32% year-over-year to a record $1.31 billion, net income rose 48% to $573 million, and diluted EPS rose 48% to $0.62. Net income included $129 million of gains mostly from deconsolidating RVI.
**What drove revenue growth in Q2 2026?** Transaction-based revenues rose 44% to $776 million, led by event contracts ($156 million), options ($342 million) and equities ($129 million). Crypto revenue fell 38% to $100 million.
**What is Robinhood's 2026 expense guidance?** Robinhood lowered and tightened its 2026 Adjusted Operating Expenses and SBC outlook to $2.675 to $2.775 billion from $2.7 billion to $2.825 billion. The range now covers Rothera and WonderFi costs but excludes items such as credit losses and restructuring.
**How did customer and asset metrics change?** Funded Customers grew 7% year-over-year to 28.4 million, Total Platform Assets rose 32% to $369 billion, and Net Deposits were $21.7 billion. Robinhood Gold Subscribers reached 4.8 million, up 39%.
**How much did Robinhood spend on share repurchases?** Robinhood repurchased $414 million of Class A stock in the quarter, representing 4.4 million shares at an average price of approximately $94. This included $290 million tied to its June 2026 convertible notes offering.