Robinhood (HOOD) Q3 2026 Earnings Call: Record Revenue and $808M Adjusted EBITDA
Source Tradingkey
Key Takeaways
- Robinhood reported record Q3 2026 revenue of $1.4 billion, up 12% year over year. Adjusted EBITDA rose 9% to a record $808 million, with a 57% margin.
- Diluted EPS was $0.51, including a negative $0.07 mark-to-market impact from investments. Adjusted EPS, which excludes investment gains, losses and certain non-operating items while retaining stock-based compensation, was $0.60.
- Net deposits reached $16 billion in Q3. October deposits exceeded $13 billion, including $6 billion from the Dell family gift to Trump Accounts, taking year-to-date deposits above $68 billion and beyond management’s 20% annual growth target.
- Equities, options and margin volumes each increased by roughly 50% year over year, while event contract activity grew sevenfold. Robinhood now has 14 businesses generating at least $100 million in annualized revenue.
- Robinhood Chain recorded more than $100 billion in decentralized exchange volume and over $50 million in gross chain fees during its first quarter. DeFi perpetual futures volume recently exceeded $1 billion per day.
- Management narrowed its full-year adjusted operating expense and stock-based compensation outlook to $2.675 billion-$2.75 billion, lowering the top end by $25 million.
Key Financial Data
| Metric | Q3 2026 result | Change or context |
|---|---|---|
| Revenue | $1.4 billion | Record; up 12% year over year |
| Adjusted EBITDA | $808 million | Record; up 9% year over year |
| Adjusted EBITDA margin | 57% | Remained above half of revenue |
| Diluted EPS | $0.51 | Included a negative $0.07 investment mark-to-market impact |
| Adjusted EPS | $0.60 | Excludes specified investment and non-operating movements |
| Adjusted OpEx and SBC | $664 million | Within the prior outlook range |
| Net deposits | $16 billion | Q3 result |
| Platform assets | Nearly $400 billion | Company record |
| Revenue per employee | Nearly $2 million | Company record |
| Gold subscribers | 5 million | Up more than 30% year over year |
| Robinhood Chain DEX volume | More than $100 billion | First quarter after mainnet launch |
| Robinhood Chain gross fees | More than $50 million | Approximately $25 million net after the disclosed revenue share |
Business and Operating Performance
Trading and product diversification
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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