Robinhood Markets (NASDAQ:HOOD) reported a record second-quarter revenue of $1.3 billion, a 32% increase year-over-year, along with net deposits of $22 billion, reflecting a 28% annualized growth rate. The company also added nearly 1 million funded customers, marking its strongest quarterly growth since its IPO nearly five years ago.
Adjusted EBITDA rose 35% compared to last year, reaching $741 million, with a margin of 57%. The number of Robinhood Gold subscribers hit 4.8 million, representing a 17% attachment rate relative to funded accounts. The Robinhood Gold Card surpassed 1 million cardholders, generating over $17 billion in annualized purchase volume.
In international operations, Robinhood acquired Canadian crypto platform WonderFi and received a capital markets services license in Singapore, serving over 1 million accounts outside the U.S. The company also launched Robinhood Chain, a blockchain platform that achieved over 150 million transactions shortly after its launch, contributing to more than $200 million in customer deposits for its stablecoin lending product.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
