Robinhood Markets, Inc. Reports August 2023 Operating Data

Rhea-AI Summary

Robinhood reported August 2023 operating data. Net Cumulative Funded Accounts increased by approximately 30k. Monthly Active Users decreased by approximately 400k. Assets Under Custody decreased by 5%. Net Deposits in August were $1.6 billion, with an annualized growth rate of 20%. Trading volumes were higher for options and lower for equities and crypto. Margin Balances increased by 3%. Cash Sweep Balances increased by $0.6 billion (5%).

Positive

• Net Cumulative Funded Accounts increased
• Margin Balances increased
• Cash Sweep Balances increased

Negative

• Monthly Active Users decreased
• Assets Under Custody decreased
• Trading volumes lower for equities and crypto

MENLO PARK, Calif., Sept. 13, 2023 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for August 2023:

• Net Cumulative Funded Accounts (NCFA) at the end of August were 23.2 million, up approximately 30 thousand from July 2023⁽¹⁾. Monthly Active Users (MAU) decreased to 10.6 million in August, down approximately 400 thousand from July 2023.
  
• Assets Under Custody (AUC) at the end of August were $89.7 billion, down 5% from July 2023. Net Deposits were $1.6 billion in August, translating to a 20% annualized growth rate relative to July 2023 AUC. Over the last twelve months, Net Deposits were $17.6 billion, translating to an annual growth rate of 25% relative to August 2022 AUC.
  
• Trading Volumes in August were slightly higher for options and lower for equities and crypto compared to July 2023. Equity Notional Trading Volumes were $59.8 billion (down 14%). Options Contracts Traded were 107.3 million (up 1%). Crypto Notional Trading Volumes were $2.2 billion (down 35%).
  
• Margin Balances at the end of August were $3.5 billion, up 3% from July 2023.
  
• Cash Sweep Balances at the end of August were $13.3 billion, up $0.6 billion (5%) from the end of July 2023.
  
  

	August 2023	July 2023	Change M/M	August 2022	Change Y/Y
(M - in millions, B - in billions)
User Growth (M)
Net Cumulative Funded Accounts (NCFA)	23.2	23.2	0%	22.9	1%
Engagement (M)
Monthly Active Users (MAU)	10.6	11.0	-4%	13.3	-20%
Assets Under Custody (AUC) ($B)
Total AUC	$89.7	$94.5	-5%	$71.0	26%
Net Deposits	$1.6	$1.4	N/M	$0.8	N/M
Trading
Trading Days (equities and options)	23	20	15%	23	0%
Total Trading Volumes
Equity ($B)	$59.8	$69.2	-14%	$66.0	-9%
Options contracts (M)	107.3	106.1	1%	89.9	19%
Crypto ($B)	$2.2	$3.4	-35%	$5.3	-58%
Daily Average Revenue Trades (DARTs) (M)
Equity	1.5	1.7	-12%	1.6	-6%
Option	0.6	0.7	-14%	0.6	0%
Crypto	0.2	0.2	0%	0.3	-33%
Customer Margin and Cash Sweep Balances ($B)
Margin Book	$3.5	$3.4	3%	$4.2	-17%
Cash Sweep	$13.3	$12.7	5%	$2.6	412%
Gold Cash Sweep	$12.6	$11.9	6%	N/A	N/A
Non-Gold Cash Sweep	$0.7	$0.8	-13%	N/A	N/A

(1) Net Cumulative Funded Accounts (NCFAs) only includes unique customers 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 Newsroom (accessible at newsroom.aboutrobinhood.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