Robinhood reported $1.42 billion in third-quarter 2026 revenue, up 12% from a year earlier, even as revenue from its crypto business fell 55% to about $120 million.
Transaction-based revenue rose 19% to $867 million. Event contracts contributed $173 million, a sixfold increase, while options revenue climbed 31% to $399 million and equities revenue gained 41% to $121 million.
Crypto volumes decline
Crypto was the exception among Robinhood’s trading businesses. Volume on Robinhood’s main app dropped 48% year over year to $21 billion, while Bitstamp volume fell 28% to $29 billion.
Net deposits reached $15.7 billion, and total platform assets climbed 19% to $396 billion. The company said net deposits and higher equity valuations partly offset lower cryptocurrency valuations.
Profit and costs
Net income was $476 million, down 14% from the same quarter last year. It included $0.07 per share, or $67 million, of unrealized losses mostly tied to Robinhood Venture Fund 1’s mark-to-market.
Operating expenses rose 16% to $739 million due to higher credit loss provisions. Net interest revenue fell about 9% to $415 million, which Robinhood attributed to lower securities lending and short-term interest rates.
Customers and expansion
Funded customers increased 7% to 28.7 million. Robinhood launched crypto trading in the UK and received authorization from the Dubai Financial Services Authority, with a planned rollout in that region in 2027.
Robinhood Chain, launched in June, became a top-5 chain by revenue and volume in its first quarter after generating more than $80 billion in DEX volume and more than $50 million in revenue, according to the report.
Management said it trimmed the top of its 2026 adjusted operating expenses and stock-based compensation outlook by $25 million, taking the range to $2.675 billion to $2.75 billion.
