Robinhood Markets, Inc. Reports November 2022 Operating Data

Rhea-AI Summary

On December 7, 2022, Robinhood Markets (NASDAQ: HOOD) reported its November 2022 operating data. The company recorded 23.0 million Net Cumulative Funded Accounts, an increase of approximately 40,000 from October. Monthly Active Users held steady at 12.5 million. Assets Under Custody remained unchanged at $70.2 billion. Net Deposits for November were $1.7 billion, reflecting a 28% annualized growth rate. However, equities trading volumes fell by 4%, while options and crypto trading volumes experienced increases.

Positive

• Net Deposits rose to $1.7 billion in November, a 28% annualized growth from October.
• Crypto trading volume surged by 60%, indicating strong user interest in cryptocurrencies.
• Cash Sweep Balances increased by $1.2 billion to $5.0 billion, enhancing liquidity.

Negative

• Monthly Active Users (MAU) remained flat at 12.5 million, down 33% year-over-year.
• Equities trading volume decreased by 4%, reflecting a potential decline in market engagement.
• Assets Under Custody (AUC) are down 35% year-over-year from $107.5 billion.

MENLO PARK, Calif., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for November 2022:

• Net Cumulative Funded Accounts (NCFA) at the end of November were 23.0 million, up approximately 40 thousand from October 2022. Monthly Active Users (MAU) at the end of November were 12.5 million, unchanged with the end of October 2022.

• Assets Under Custody (AUC) at the end of November were $70.2 billion, unchanged with the end of October 2022. Net Deposits were $1.7 billion in November, translating to a 28% annualized growth rate relative to October 2022 AUC. Over the last twelve months, Net Deposits were $18.9 billion, translating to an annual growth rate of 18% relative to November 2021 AUC.

• Notional Trading Volumes - which are the primary driver of transaction revenues - were higher in November for options and crypto from October 2022, and lower for equities. Equities were $44.7 billion (down 4%), Option contracts were 81.8 million (up 4%), and Cryptocurrencies were $5.7 billion (up 60%).

• Margin Balances at the end of November were $3.5 billion, down $0.3 billion from the end of October 2022. Cash Sweep Balances at the end of November were $5.0 billion, up $1.2 billion from the end of October 2022. Since the end of Q3, the $2.0 billion increase in cash sweep balances through the end of November was primarily driven by customers depositing cash following the introduction of the Gold cash sweep program, leading total Cash Held by Users to increase by $2.2 billion over the same period, from $8.1 billion to $10.3 billion.

	November 2022		October 2022		Change M/M		November 2021		Change Y/Y
(M - in millions, B - in billions)
User Growth (M)
Net Cumulative Funded Accounts (NCFA)	23.0		22.9		0%		22.7		1%
Engagement (M)
Monthly Active Users (MAU)	12.5		12.5		0%		18.6		-33%
Assets Under Custody (AUC) ($B)
Total AUC	$70.2		$70.2		0%		$107.5		-35%
Cumulative Net Deposits	$89.1		$87.5		2%		$70.2		27%
Net Deposits	$1.7		$1.6		N/M		$1.9		N/M
Trading
Trading Days (equities and options)	21		21		0%		21		0%
Total Trading Volumes
Equity ($B)	$44.7		$46.7		-4%		$96.9		-54%
Options contracts (M)	81.8		78.7		4%		113.0		-28%
Crypto ($B)	$5.7		$3.5		60%		$14.9		-62%
Daily Average Revenue Trades (DARTs) (M)
Equity DARTs	1.3		1.3		1%		2.5		-47%
Option DARTs	0.6		0.6		1%		0.9		-41%
Crypto DARTs	0.3		0.2		40%		0.5		-37%
Customer Margin and Cash Sweep Balances ($B)
Margin Book	$3.5		$3.8		-7%		$6.6		-47%
Cash Sweep	$5.0		$3.8		31%		$2.3		119%

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 are the November 2022 user metrics for Robinhood (HOOD)?

In November 2022, Robinhood reported 23.0 million Net Cumulative Funded Accounts and 12.5 million Monthly Active Users.

How much did Robinhood (HOOD) increase its Net Deposits in November 2022?

Robinhood's Net Deposits for November 2022 reached $1.7 billion, reflecting a 28% annualized growth.

What were the trading volumes for Robinhood (HOOD) in November 2022?

In November 2022, Robinhood reported $44.7 billion in equities, $81.8 million in options, and $5.7 billion in cryptocurrencies.

How did Robinhood’s (HOOD) Assets Under Custody change in November 2022?

Robinhood's Assets Under Custody remained unchanged at $70.2 billion in November 2022.

What trends were noted in Robinhood's (HOOD) trading volumes in November 2022?

In November 2022, Robinhood saw a 4% decrease in equities trading volumes but a 4% increase in options and a 60% increase in crypto.