Robinhood Markets, Inc. Reports April 2023 Operating Data

Rhea-AI Summary

Robinhood reported its selected monthly operating data for April 2023. Net Cumulative Funded Accounts increased by approximately 30,000 to reach 23.1 million. Monthly Active Users decreased by approximately 300,000 to 11.5 million. Assets Under Custody were $77.4 billion, down 1% from March. Net Deposits were $1.4 billion in April, with a 22% annualized growth rate. Trading Volumes were lower compared to March in all categories.

Positive

• Net Cumulative Funded Accounts increased by approximately 30,000 to reach 23.1 million.
• Monthly Active Users decreased by approximately 300,000 to 11.5 million.
• Assets Under Custody were $77.4 billion, down 1% from March.
• Net Deposits were $1.4 billion in April, with a 22% annualized growth rate.
• Trading Volumes were lower compared to March in all categories.

Negative

• Monthly Active Users decreased by approximately 300,000 to 11.5 million.
• Assets Under Custody were $77.4 billion, down 1% from March.
• Trading Volumes were lower compared to March in all categories.

MENLO PARK, Calif., May 17, 2023 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for April 2023:

• Net Cumulative Funded Accounts (NCFA) at the end of April were 23.1 million, up approximately 30 thousand from March 2023⁽¹⁾. Monthly Active Users (MAU) at the end of April were 11.5 million, down approximately 300 thousand from March 2023.
  
  
• Assets Under Custody (AUC) at the end of April were $77.4 billion, down 1% from March 2023. Net Deposits were $1.4 billion in April, translating to a 22% annualized growth rate relative to March 2023 AUC. Over the last twelve months, Net Deposits were $17.4 billion, translating to an annual growth rate of 22% relative to April 2022 AUC.
  
  
• Trading Volumes were lower in April compared to March 2023. Equity Notional Trading Volumes were $38.9 billion (down 32%). Options Contracts Traded were 75.3 million (down 25%). Crypto Notional Trading Volumes were $3.7 billion (down 6%).
  
  
• Margin Balances at the end of April were $3.1 billion, in line with March 2023.
  
  
• Cash Sweep Balances at the end of April were $9.6 billion, up $0.7 billion from the end of March 2023.
  
  

	April 2023	March 2023	Change M/M	April 2022	Change Y/Y
(M - in millions, B - in billions)
User Growth (M)
Net Cumulative Funded Accounts (NCFA)	23.1	23.1	0%	22.8	1%
Engagement (M)
Monthly Active Users (MAU)	11.5	11.8	-2%	15.7	-26%
Assets Under Custody (AUC) ($B)
Total AUC	$77.4	$78.4	-1%	$78.5	-1%
Net Deposits	$1.4	$1.5	N/M	$1.2	N/M
Trading
Trading Days (equities and options)	19	23	-17%	20	-5%
Total Trading Volumes
Equity ($B)	$38.9	$56.8	-32%	$54.7	-29%
Options contracts (M)	75.3	100.1	-25%	$70.4	7%
Crypto ($B)	$3.7	$3.9	-6%	$6.9	-47%
Daily Average Revenue Trades (DARTs) (M)
Equity	1.4	1.6	-11%	1.6	-14%
Option	0.5	0.6	-14%	0.6	-12%
Crypto	0.2	0.2	-2%	0.4	-37%
Customer Margin and Cash Sweep Balances ($B)
Margin Book	$3.1	$3.1	1%	$5.2	-40%
Cash Sweep	$9.6	$8.9	9%	$1.9	398%
Gold	$8.8	$8.0	10%	$0.0	NA
Non-Gold	$0.8	$0.9	-8%	$1.9	-58%

(1) Net Cumulative Funded Accounts (NCFAs) only includes unique users and does not reflect existing customers opening multiple accounts.

For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics update, which is available on investors.robinhood.com.

The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.

About Robinhood

Robinhood Markets is on a mission to democratize finance for all. With Robinhood, people can invest with no account minimums through Robinhood Financial LLC, buy and sell crypto through Robinhood Crypto, LLC, spend, save, and earn rewards through Robinhood Money, LLC, and learn about investing through easy-to understand educational content.

Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its blog, Under the Hood (accessible at blog.robinhood.com), as means of disclosing information to the public for purposes of the SEC’s Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.

"Robinhood" and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc.

Contacts

Investor Relations

ir@robinhood.com

Media

press@robinhood.com

FAQ

What were the Net Cumulative Funded Accounts for Robinhood in April 2023?

The Net Cumulative Funded Accounts for Robinhood in April 2023 were 23.1 million.

How many Monthly Active Users did Robinhood have in April 2023?

Robinhood had 11.5 million Monthly Active Users in April 2023.

What were the Assets Under Custody for Robinhood in April 2023?

The Assets Under Custody for Robinhood in April 2023 were $77.4 billion.

What were the Net Deposits for Robinhood in April 2023?

The Net Deposits for Robinhood in April 2023 were $1.4 billion.

How did the Trading Volumes compare to March 2023 for Robinhood?

The Trading Volumes were lower in April 2023 compared to March 2023 in all categories.