Filing Flows › Robinhood Markets (HOOD) › Q4 2025
Robinhood Markets (HOOD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Robinhood Markets (HOOD) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +0.7% from the quarter before. Operating margin was 51.5%, net earnings $605M (47.2% of revenue).
Robinhood Markets, Q4 2025: revenue $1.3B (+26% year over year), operating margin 51.5%, net earnings $605M, operating cash flow −$937M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +0.7% | +27% |
| Operating profit | $661M | +4% | +18% |
| Net earnings | $605M | +9% | -34% |
| Operating cash flow | −$937M | — | — |
What changed
Revenue was $1.3B in Q4 2025, up 27% year over year and up 1% from the previous quarter. Transaction-based revenues was the largest line at 60% of revenue.
Operating profit was $0.66B, a 51.5% margin (down 3.5 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, below the 55% margin then. Total costs grew 36% against revenue growth of 27%. The fastest-growing cost line was General & admin (+154%). Net earnings were $0.60B, down 34% year over year. The effective tax rate was 8.5%.
Operating cash flow was −$0.94B. Non-cash charges added back $0.02B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $1.6B.
Questions
What was Robinhood Markets' revenue in the fourth quarter 2025?
Robinhood Markets (HOOD) reported revenue of $1.3B for the fourth quarter 2025 (Q4 2025), +27% from a year earlier and +0.7% from the quarter before.
Was Robinhood Markets profitable in the fourth quarter 2025?
Operating profit was $661M (51.5% of revenue) and net earnings $605M.
Source: Robinhood Markets 10-K on SEC EDGAR.