The company reported net income of $150 million (diluted EPS of $0.17) for the 3 months ended September 30, 2024, compared with a net loss of $85 million a year earlier. As of the end of that quarter, Funded Customers were 24.3 million and AUC was $152.2 billion.

10-QQuarterly reportFiled Oct 31, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company reported net income of $150 million (diluted EPS of $0.17) for the 3 months ended September 30, 2024, compared with a net loss of $85 million a year earlier. As of the end of that quarter, Funded Customers were 24.3 million and AUC was $152.2 billion.
Robinhood said transaction-based revenues increased by $134 million and $390 million for the 3 and 9 months ended September 30, 2024, respectively. For the 3 months, the company cited increases in cryptocurrencies of $38 million, options of $78 million and equities of $10 million.
The company said general and administrative expenses decreased by $97 million and $651 million for the 3 and 9 months ended September 30, 2024, respectively. For the 3 months, it cited a decrease of $94 million in settlements and penalties as a key factor. It also said the decrease for the 9 months includes the Founders Award Cancellation of $485 million, which occurred in Q1 2023 of 2021.
The company said that as of September 30, 2024, its cash and cash equivalents were $4.61 billion, which included a liquid investment portfolio of available-for-sale securities of $750 million. On the same date, its committed revolving credit facilities totaled $3.00 billion, and its borrowing limit for the Credit Card Funding Trust was up to $100 million.

Key figures

Quarter ended September 30, 2024

Revenue: $637M
Net income: $150M
EPS: $0.17

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Net Income and Changes in Funded Customers and AUC

The company reported net income of $150 million (diluted EPS of $0.17) for the 3 months ended September 30, 2024, compared with a net loss of $85 million a year earlier. As of the end of that quarter, Funded Customers were 24.3 million and AUC was $152.2 billion.

Source · Based on the MD&A text of the filing

Growth in Transaction-Based Revenues and Company Explanation

Robinhood said transaction-based revenues increased by $134 million and $390 million for the 3 and 9 months ended September 30, 2024, respectively. For the 3 months, the company cited increases in cryptocurrencies of $38 million, options of $78 million and equities of $10 million.

Source · Based on the MD&A text of the filing

Lower General and Administrative Expenses and Settlement and Penalty Items

The company said general and administrative expenses decreased by $97 million and $651 million for the 3 and 9 months ended September 30, 2024, respectively. For the 3 months, it cited a decrease of $94 million in settlements and penalties as a key factor. It also said the decrease for the 9 months includes the Founders Award Cancellation of $485 million, which occurred in Q1 2023 of 2021.

Source · Based on the MD&A text of the filing

Liquidity: Cash and Credit Facilities

The company said that as of September 30, 2024, its cash and cash equivalents were $4.61 billion, which included a liquid investment portfolio of available-for-sale securities of $750 million. On the same date, its committed revolving credit facilities totaled $3.00 billion, and its borrowing limit for the Credit Card Funding Trust was up to $100 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.