Filing Flows › Robinhood Markets (HOOD) › Q1 2025
Robinhood Markets (HOOD) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Robinhood Markets (HOOD) reported revenue of $927M for the first quarter 2025 (Q1 2025), +50% from a year earlier and -9% from the quarter before. Operating margin was 40.0%, net earnings $336M (36.2% of revenue).
Robinhood Markets, Q1 2025: revenue $927M (+50% year over year), operating margin 40.0%, net earnings $336M, operating cash flow $642M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $927M | -9% | +50% |
| Operating profit | $371M | -34% | +129% |
| Net earnings | $336M | -63% | +114% |
| Operating cash flow | $642M | — | — |
What changed
Revenue was $927.0M in Q1 2025, up 50% year over year and down 9% from the previous quarter. Transaction-based revenues was the largest line at 63% of revenue. Transaction-based revenues added $254.0M year over year (up 77%), 82% of the total change.
Operating profit was $371.0M, a 40.0% margin (up 13.8 points year over year). Of the extra revenue versus a year earlier, 68% reached operating profit, above the 26% margin then. Total costs grew 22% against revenue growth of 50%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $336.0M, up 114% year over year. The effective tax rate was 9.4%.
Operating cash flow was $642.0M, 191% of net earnings. Non-cash charges added back $20.0M of depreciation and amortization and $73.0M of share-based compensation. Working capital and other items added $213.0M.
Questions
What was Robinhood Markets' revenue in the first quarter 2025?
Robinhood Markets (HOOD) reported revenue of $927M for the first quarter 2025 (Q1 2025), +50% from a year earlier and -9% from the quarter before.
Was Robinhood Markets profitable in the first quarter 2025?
Operating profit was $371M (40.0% of revenue) and net earnings $336M.
Source: Robinhood Markets 10-Q on SEC EDGAR.