Robinhood Markets, Inc. Reports January 2026 Operating Data

Rhea-AI Summary

Robinhood (NASDAQ: HOOD) reported January 2026 operating data: 27.2 million funded customers, $324.4B Total Platform Assets, and $4.5B net deposits in January. Equity notional volumes were $227.3B, options 200.0M contracts, crypto $22.9B. Margin balances rose to $18.4B. Quarter-to-date repurchases: $173M for ~2.1M shares at an average ~$84 per share.

Monthly metrics are unaudited and preliminary; December 2025 platform assets were revised for final crypto pricing. Definitions and further details are available from the company's monthly metrics release.

Positive

• Total Platform Assets +59% YoY to $324.4B
• Net Deposits (12 months) $67.0B, 33% annual growth rate
• Equity Trading Volumes +57% YoY to $227.3B
• Margin Balances +122% YoY to $18.4B
• Share repurchases $173M deployed for ~2.1M shares

Negative

• Robinhood App crypto volumes -57% YoY to $8.7B
• Total Securities Lending Revenue -11% M/M to $34M

Key Figures

Funded Customers: 27.2 million Total Platform Assets: $324.4B Net Deposits (Jan): $4.5B +5 more

8 metrics

Funded Customers 27.2 million End of January 2026; up ~190k M/M and ~1.75M Y/Y

Total Platform Assets $324.4B End of January 2026; up 1% M/M and 59% Y/Y

Net Deposits (Jan) $4.5B January 2026 net deposits; 17% annualized growth vs Dec 2025 assets

Equity Trading Volume $227.3B January 2026 equity notional volume; up 21% M/M and 57% Y/Y

Crypto Trading Volume $22.9B January 2026 crypto notional volume; up 8% M/M and 12% Y/Y

Margin Balances $18.4B End of January 2026; up 10% M/M and 122% Y/Y

Total Cash Sweep $31.5B End of January 2026; down 4% M/M, up 20% Y/Y

Share Repurchases QTD $173M Deployed through Feb 17, 2026 to repurchase ~2.1M shares at ~$84

Market Reality Check

Price: $75.65 Vol: Volume 11,143,959 is 0.31...

low vol

$75.65 Last Close

Volume Volume 11,143,959 is 0.31x the 20-day average, indicating relatively muted trading ahead of this update. low

Technical Shares at 75.21 trade below the 200-day MA of 106.21, signaling a weaker intermediate trend into the release.

Peers on Argus

HOOD was down 1.4% while key peers like IBKR, SCHW, FUTU, and LPLA showed modest...

HOOD was down 1.4% while key peers like IBKR, SCHW, FUTU, and LPLA showed modest gains (up between 0.42% and 1.3%), indicating stock-specific pressure rather than a sector-wide move.

Common Catalyst Several capital-markets peers are releasing January activity updates and pursuing initiatives around trading and prediction markets, creating a backdrop of operational and product news across the group.

Historical Context

5 past events · Latest: Feb 17 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	New fund overview	Neutral	-0.7%	Outlined structure and fees for upcoming Robinhood Ventures Fund I IPO.
Feb 17	IPO launch details	Negative	-0.7%	Announced RVI IPO size, pricing, and selling shareholder component.
Feb 10	Record earnings report	Positive	-1.1%	Reported record 2025 revenues, EPS, and strong net deposits with 2026 expense outlook.
Jan 21	Exchange JV transaction	Positive	+0.1%	Closed MIAXdx stake sale to Robinhood–SIG JV to expand derivatives and prediction markets.
Jan 02	Earnings date set	Neutral	+1.9%	Scheduled Q4 and full-year 2025 earnings release and investor call logistics.

Pattern Detected

Recent fundamental and strategic announcements, including record 2025 results and new product launches, were often met with flat-to-negative price reactions, suggesting a tendency for good news to see muted follow-through.

Recent Company History

Over the past few months, Robinhood announced a series of milestones, including the launch and IPO plans for Robinhood Ventures Fund I (RVI), record 2025 financial results with revenues of $4.5B and diluted EPS of $2.05, and a strategic MIAXdx derivatives exchange joint venture completed on Jan 21, 2026. An earlier release on Jan 2, 2026 set expectations for the Q4 2025 earnings date. Today’s January 2026 operating metrics sit on top of this backdrop of strong reported growth but relatively subdued stock reactions.

Market Pulse Summary

This announcement highlights robust January 2026 operating trends, with Funded Customers reaching 27...

Analysis

This announcement highlights robust January 2026 operating trends, with Funded Customers reaching 27.2M, Total Platform Assets at $324.4B, and equity notional volumes of $227.3B. Crypto trading and margin balances also grew, while cash sweep balances ticked lower amid strong net buying. In context of recent record 2025 results and ongoing product expansion, investors may focus on how sustained trading activity, net deposits of $4.5B, and capital returns via $173M of buybacks shape future profitability and risk.

Key Terms

net deposits, daily average revenue trades (darts), securities lending

3 terms

net deposits financial

"Net Deposits were $4.5 billion in January, or a 17% annualized growth rate..."

Net deposits measure the amount of money customers put into a financial institution or platform minus the money they withdrew or moved out during a given period. Think of it as the net water added to a bucket after pours and spills; positive net deposits mean more cash staying with the firm, which signals customer trust, fuels lending or investment activity, and can boost future income and financial stability—key things investors watch.

daily average revenue trades (darts) financial

"Daily Average Revenue Trades (DARTs) (M)"

Daily average revenue trades (DARTs) measure the average number of transactions that generate revenue each day for a financial firm. Think of it as the number of sales made daily that contribute to the company's income. Higher DARTs indicate more active trading, which can suggest increased customer engagement and potentially higher revenue opportunities.

securities lending financial

"Total Securities Lending Revenue in January was $34 million..."

Securities lending is when an owner of stocks or bonds temporarily loans them to another party, usually so the borrower can sell them short or meet settlement needs; the lender receives a fee and typically some form of security in return. Investors should care because lending can generate extra income on holdings and affects market liquidity and short-selling activity, much like renting out a spare room brings income while someone else uses the space.

AI-generated analysis. Not financial advice.

MENLO PARK, Calif., Feb. 19, 2026 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for January 2026.

• Funded Customers at the end of January were 27.2 million (up approximately 190 thousand from the end of December 2025, up approximately 1.75 million year-over-year).
  
• Total Platform Assets at the end of January were $324 billion (up 1% from the end of December 2025¹, up 59% year-over-year).
  
• Net Deposits were $4.5 billion in January, or a 17% annualized growth rate relative to December 2025 Total Platform Assets¹.
  
  • Over the last twelve months, Net Deposits were $67.0 billion, or an annual growth rate of 33% relative to January 2025 Total Platform Assets.

• Trading Volumes in January:
  • Equity Notional Trading Volumes were $227.3 billion (up 21% from December 2025, up 57% year-over-year).
    
  • Options Contracts Traded were 200.0 million (roughly flat to December 2025, up 20% year-over-year).
    
  • Crypto Notional Trading Volumes were $22.9 billion (up 8% from December 2025, up 12% year-over-year), including Robinhood App Notional Trading Volumes of $8.7 billion (up 7% from December 2025, down 57% year-over-year) and Bitstamp Notional Trading Volumes of $14.2 billion (up 8% from December 2025).
    
  • Event Contracts Traded were 3.4 billion (up 17% from December 2025).
    
    
• Margin balances at the end of January were $18.4 billion (up 10% from the end of December 2025, up 122% year-over-year).
  
• Total Cash Sweep balances at the end of January were $31.5 billion, including the impact of record customer net buying (down 4% from the end of December 2025, up 20% year-over-year).
  
• Total Securities Lending Revenue in January was $34 million (down 11% from December 2025, up 36% year-over-year).
  
• Quarter-to-date through February 17, we've deployed $173 million to repurchase approximately 2.1 million of our shares² for an average price per share of approximately $84, more than twice the amount of shares repurchased in Q4 2025.
  

	January 2026	December 2025	M/M Change	January 2025	Y/Y Change
(M - in millions, B - in billions)
Funded Customer Growth (M)
Funded Customers	27.2	27.0	+1%	25.5	+7
Asset Growth ($B)
Total Platform Assets1	$324.4	$322.1	+1%	$203.7	+59%
Net Deposits3	$4.5	$3.2	NM	$5.6	NM
Trading
Trading Days (Equities and Options)	20	22	(9%)	20	-
Total Trading Volumes
Equity ($B)	$227.3	$188.6	+21%	$144.7	+57%
Options Contracts (M)	200.0	199.4	-	166.6	+20%
Crypto ($B)4	$22.9	$21.2	+8%	$20.4	+12%
Robinhood App ($B)	$8.7	$8.1	+7%	$20.4	(57%)
Bitstamp ($B)	$14.2	$13.1	+8%	-	NA
Event Contracts (B)	3.4	2.9	+17%	-	NA
Daily Average Revenue Trades (DARTs) (M)
Equity	2.8	2.7	+4%	2.6	+8%
Options	1.3	1.1	+18%	1.1	+18%
Crypto5	0.5	0.5	-	0.9	(44%)
Customer Margin and Cash Sweep ($B)
Margin Book	$18.4	$16.8	+10%	$8.3	+122%
Total Cash Sweep	$31.5	$32.8	(4%)	$26.3	+20%
Gold Cash Sweep6	$30.3	$31.6	(4%)	$25.6	+18%
Non-Gold Cash Sweep	$1.2	$1.2	-	$0.7	+71%
Total Securities Lending Revenue ($M)	$34	$38	(11%)	$25	+36%

1. Subsequent to the release of our preliminary earnings results for the fourth quarter and full year 2025 on February 10, 2026, December 2025 Total Platform Assets were revised to reflect final crypto pricing data.
2. Shares of our Class A Common Stock.
3. Starting in June 2025, Net Deposits include results from Bitstamp. Net Deposits do not include results from TradePMR.
4. Refer to Robinhood’s full monthly metrics release for the definition of Notional Trading Volume.
5. Crypto DARTs do not include Bitstamp Institutional activity.
6. Starting in December 2025, includes Robinhood Banking balances, which totaled $0.1B as of 12/31/2025 and $0.3B as of 1/31/2026.

For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics release, 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, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood, through its subsidiaries, lets you trade stocks, options, futures, swaps (which include event contracts), and crypto, invest for retirement, earn with Robinhood Gold, and access an expert-managed portfolio with Robinhood Strategies. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.

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 in a broad, non-exclusionary manner for purposes of the SEC 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. All other names are trademarks and/or registered trademarks of their respective owners.

Contacts

Investor Relations: ir@robinhood.com

Press: press@robinhood.com

FAQ

How many funded customers did Robinhood (HOOD) report for January 2026?

Robinhood reported 27.2 million funded customers at the end of January 2026. According to the company, this was up ~190 thousand from December 2025 and up ~1.75 million year-over-year.

What were Robinhood's Total Platform Assets (HOOD) in January 2026 and how did they change?

Total Platform Assets were $324.4 billion at month end January 2026. According to the company, that represented a 1% increase month-over-month and a 59% increase year-over-year.

How large were Robinhood's January 2026 equity trading volumes (HOOD)?

Equity notional trading volumes were $227.3 billion in January 2026. According to the company, that was up 21% from December 2025 and up 57% year-over-year.

What did Robinhood (HOOD) report for crypto trading in January 2026?

Crypto notional trading volumes were $22.9 billion in January 2026. According to the company, App volumes were $8.7B and Bitstamp volumes $14.2B, with App volumes down 57% year-over-year.

How much margin exposure did Robinhood (HOOD) have at the end of January 2026?

Margin balances were $18.4 billion at the end of January 2026. According to the company, this was up 10% month-over-month and up 122% year-over-year.

What share repurchase activity did Robinhood (HOOD) disclose through Feb 17, 2026?

Quarter-to-date through Feb 17, Robinhood deployed $173 million to repurchase ~2.1 million Class A shares. According to the company, the average repurchase price was about $84 per share.