Robinhood Markets (HOOD) FY2024 results: revenue $3.0 billion, up 58.2% on the year

Robinhood Markets, Inc. (HOOD) reported revenue of $3.0 billion for fiscal 2024, the year ended 31 December 2024, up 58.2% on the year before. Net income was $1.4 billion, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.

Revenue

$3.0 billion

+58.2% on the year

FY2019FY2024

Operating margin

35.7%

-28.7% a year earlier

FY2019FY2024

Net income

$1.4 billion

FY2019FY2024

Diluted EPS

$1.56

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,951	1,865	1,358	+58.2%
Research and development	323	349	381	-7.4%
Operating income	1,054	-536	-1,011
Operating margin	35.7%	-28.7%	-74.4%
Pre-tax income	1,064	-533	-1,027
Income tax	-347	8.0	1.0
Effective tax rate	-32.6%	n/a	n/a
Net income	1,411	-541	-1,028
Net margin	47.8%	-29.0%	-75.7%
Diluted EPS	$1.56	-$0.61	-$1.17

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	-157	1,181	-852
Capital expenditure	n/a	n/a	28.0
Free cash flow	n/a	n/a	-880
Free cash flow margin	n/a	n/a	-64.8%
Cash from investing	-148	-582	-60.0
Cash from financing	-345	-610	0.0
Depreciation and amortisation	77.0	71.0	61.0	+8.5%
Share-based compensation	304	871	654	-65.1%
Buybacks	257	608	0.0	-57.7%
Diluted shares, weighted	906m	891m	879m	+1.7%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	7,972	6,696	6,956	+19.1%
Non-controlling interest	0.0	n/a	n/a
Operating lease liabilities	110	89.0	127	+23.6%
Other liabilities	18,105	10,839	16,254	+67.0%
Total liabilities and equity	26,187	17,624	23,337	+48.6%
Fixed assets	139	120	146	+15.8%
Goodwill	179	175	100	+2.3%
Intangible assets	38.0	48.0	25.0	-20.8%
Securities held for sale or to maturity	n/a	n/a	0.0
Securities borrowed	3,236	1,602	517	+102.0%
Cash and equivalents	4,332	4,835	6,339	-10.4%
Other assets	18,263	10,844	16,210	+68.4%
Total assets	26,187	17,624	23,337	+48.6%

10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.