Robinhood Markets Inc. (NASDAQ: HOOD) released fourth-quarter 2025 results on Wednesday, posting revenue below Wall Street estimates despite strong year-over-year growth, according to its shareholder letter filed with the U.S. Securities and Exchange Commission (SEC).

The brokerage service reported Q4 revenue of $1.28 billion, missing estimates of $1.34 billion. However, revenue increased 27% YoY from the same period in 2024. The company reported adjusted earnings per share of $0.66, beating estimates of $0.60.

HOOD stock declined 1.29% in after-hours trading to $85.44 after the release of the earnings report, reflecting market sensitivity to revenue growth in a competitive brokerage services market.

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Robinhood Crypto Trading Revenue Falls 38%

Crypto trading revenue fell considerably, down 38% from last year, to $221 million. This is a result of lower digital asset trading volumes compared to the more favorable market conditions of 2024. Crypto is a profitable business for Robinhood, making the slowdown notable for investors monitoring digital asset exposure.

Transaction revenue increased 15% from last year to $776 million, led by equities and options trading. Operating expenses were up 38% to $633 million, driven by compliance, growth efforts, and increased stock-based compensation.

For the full year 2025, Robinhood achieved record annual revenue of $4.5 billion, a 52% increase, and adjusted EBITDA of $2.5 billion. Total platform assets rose to $324 billion, with net deposits of $68 billion.

The company finished the quarter with $4.3 billion in cash and cash equivalents, which will be used for growth and expansion into international markets. Robinhood now has around 750,000 customers outside the United States.

Though EPS beats are a sign of positive performance, it seems that investors are concerned about the revenue miss and the decrease in crypto revenue as the company looks ahead to 2026.

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Filed under: Bitcoin - @ February 11, 2026 7:26 am