Latest quarter
Robinhood reported Q2 FY2026 revenue of $1.3 billion, up 32.3% from $989.0 million a year earlier, according to the company’s filing. The company reported adjusted EPS, as the consensus counts it, of $0.62 versus a $0.44 consensus estimate, a 40.9% difference. Revenue, as the consensus counts it, was $1.3 billion versus consensus revenue of $1.3 billion, a 3.49% difference.
The filing said transaction-based revenues increased, led by higher revenue from event contracts, options and equities, while cryptocurrencies revenue declined. Robinhood reported $776.0 million of transaction-based revenue and $389.0 million of net interest revenue in Q2 2026. The filing attributed higher net interest revenue primarily to higher margin interest, net credit-card interest and investment accretion income, partly offset by lower interest revenue from securities lending, Cash Sweep, corporate cash and investments.
Robinhood reported average revenue per user of $187.00, while its filing said funded customers rose to 28.4 million and Robinhood Gold subscribers reached 4.84 million. Gross margin was 95.3%, compared with 95.1% a year earlier, while operating margin was 43.9%, compared with 44.4%. Free cash flow was $696.0 million, compared with $3.5 billion a year earlier.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $1.3 billion | $989.0 million | 32.3% |
| Diluted EPS | $0.62 | $0.42 | 47.6% |
| Gross margin | 95.3% | 95.1% | 0.1 percentage points |
| Operating margin | 43.9% | 44.4% | −0.5 percentage points |
| Free cash flow | $696.0 million | $3.5 billion | −80.1% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $0.62 | $0.44 | Beat by 40.9% |
| Revenue | $1.3 billion | $1.3 billion | Beat by 3.49% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
No earnings call commentary was available for Robinhood’s latest reported quarter. Accordingly, no management discussion of demand, pricing, margins, investment, competition or the quarter ahead is available from a latest-quarter call.
Guidance
Robinhood did not provide management guidance in the available materials, so the company’s updated outlook, changes from prior guidance, and discontinued targets are not available here.