Robinhood shares fell sharply after the trading platform reported fourth-quarter earnings that missed analyst revenue expectations. The company’s total net revenue of $1.28 billion fell short despite a 27% year-on-year increase, with crypto-based revenues dropping 38% to $221 million. The stock declined over 7% in after-hours trading following the announcement.
Robinhood dropped in after-hours trading on Tuesday after its latest earnings missed analyst expectations while crypto revenues tanked. The platform reported record net revenues of $1.28 billion in Q4, missing Wall Street expectations of $1.34 billion despite a 27% year-on-year increase.
Its crypto-based revenues fell 38% from last year to $221 million after the crypto market entered an extended period of drawdowns. The company’s net income for the quarter fell 34% year-on-year to $605 million, with its earnings per share reaching 66 cents.
Shares in Robinhood fell by 7.66% in after-hours trading to $79.04 after finishing the trading day down 1.1%. Its stock is down over 42% since its peak of $148.67 on Oct. 3.
Over the full year, Robinhood said its net revenues for 2025 increased 52% from 2024 to a record $4.5 billion. Its net income for the year jumped 35% to $1.9 billion.
Robinhood reported that notional crypto volumes across its app and its wholly-owned exchange, Bitstamp, were up 3% quarter-on-quarter in Q4 to a record $82.4 billion. By comparison, equity trade volumes saw a larger quarterly jump, up 10% to $710 billion, while options contracts traded rose 8% over the quarter to 659 million.
Prediction markets, which the company launched on its platform in March in partnership with Kalshi, have also helped bolster Robinhood’s revenues. Robinhood’s “other” transaction-based revenues, which include its products such as prediction markets and futures, hit a record $147 million in Q4, a 375% jump from the same time last year.
Robinhood chair and CEO, Vlad Tenev, said in a statement, “Our vision hasn’t changed: we are building the Financial SuperApp.”
