Robinhood Markets, Inc. Reports July 2023 Operating Data

Rhea-AI Summary

Robinhood reports monthly operating data for July 2023, showing growth in Net Cumulative Funded Accounts, Monthly Active Users, Assets Under Custody, and Net Deposits. Trading volumes were higher for equities and crypto but lower for options compared to June 2023.

Positive

• Net Cumulative Funded Accounts increased by approximately 50 thousand, Monthly Active Users increased by approximately 200 thousand, Assets Under Custody increased by 6%, Net Deposits were $1.4 billion in July, Trading Volumes for equities and crypto were higher in July

Negative

• Options Contracts Traded decreased by 4%, Trading Volumes for options were lower in July

MENLO PARK, Calif., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for July 2023:

• Net Cumulative Funded Accounts (NCFA) at the end of July were 23.2 million, up approximately 50 thousand from June 2023⁽¹⁾. Monthly Active Users (MAU) increased to 11.0 million in July, up approximately 200 thousand from June 2023.
  
  
• Assets Under Custody (AUC) at the end of July were $94.5 billion, up 6% from June 2023. Net Deposits were $1.4 billion in July, translating to a 19% annualized growth rate relative to June 2023 AUC. Over the last twelve months, Net Deposits were $16.8 billion, translating to an annual growth rate of 23% relative to July 2022 AUC.
  
  
• Trading Volumes in July were higher for equities and crypto and lower for options compared to June 2023. Equity Notional Trading Volumes were $69.2 billion (up 3%). Options Contracts Traded were 106.1 million (down 4%). Crypto Notional Trading Volumes were $3.4 billion (up 3%).
  
  
• Margin Balances at the end of July were $3.4 billion, up 3% from June 2023.
  
  
• Cash Sweep Balances at the end of July were $12.7 billion, up $0.8 billion (7%) from the end of June 2023.
  
  

	July 2023		June 2023		Change M/M		July 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)		11.0		10.8	2%		13.2	-17%
Assets Under Custody (AUC) ($B)
Total AUC	$94.5		$88.8		6%		74.6	27%
Net Deposits	$1.4		$1.0		N/M		0.7	N/M
Trading
Trading Days (equities and options)		20		21	-5%		20	0%
Total Trading Volumes
Equity ($B)	$69.2		$66.9		3%		48.8	42%
Options contracts (M)		106.1		110.5	-4%		67.0	58%
Crypto ($B)	$3.4		$3.3		3%		5.5	-38%
Daily Average Revenue Trades (DARTs) (M)
Equity		1.7		1.7	0%		1.3	31 %
Option		0.7		0.7	0%		0.5	40%
Crypto		0.2		0.2	0%		0.3	-33%
Customer Margin and Cash Sweep Balances ($B)
Margin Book	$3.4		$3.3		3%		4.0	-15%
Cash Sweep	$12.7		$11.9		7%		2.5	408%
Gold Cash Sweep	$11.9		$11.1		7%		0.0	N/A
Non-Gold Cash Sweep	$0.8		$0.8		0%		2.5	-68%

(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

FAQ

What were the key highlights of Robinhood's monthly operating data for July 2023?

The key highlights of Robinhood's monthly operating data for July 2023 include an increase in Net Cumulative Funded Accounts, Monthly Active Users, Assets Under Custody, and Net Deposits. Trading volumes were higher for equities and crypto but lower for options compared to June 2023.

What was the growth rate of Net Cumulative Funded Accounts in July 2023 compared to June 2023?

Net Cumulative Funded Accounts increased by approximately 50 thousand in July 2023 compared to June 2023.

What was the growth rate of Monthly Active Users in July 2023 compared to June 2023?

Monthly Active Users increased by approximately 200 thousand in July 2023 compared to June 2023.

What was the growth rate of Assets Under Custody in July 2023 compared to June 2023?

Assets Under Custody increased by 6% in July 2023 compared to June 2023.

What were the Net Deposits in July 2023?

Net Deposits were $1.4 billion in July 2023.

How did Trading Volumes for equities and crypto change in July 2023 compared to June 2023?

Trading Volumes for equities and crypto were higher in July 2023 compared to June 2023.

How did Trading Volumes for options change in July 2023 compared to June 2023?

Options Contracts Traded decreased by 4% in July 2023 compared to June 2023.