Robinhood achieves best-ever quarterly results despite 38% drop in cryptocurrency revenues
Despite witnessing a decline in cryptocurrency transaction income, the digital brokerage platform pursued aggressive expansion of its blockchain operations through Robinhood Chain, stock tokenization, and decentralized finance lending products.
[Update 08:55 UTC, July 30: Updates with additional reporting and context.]
Digital brokerage platform Robinhood announced best-in-class second-quarter financial results and profitability metrics, despite experiencing a 38% year-over-year decrease in revenue generated from cryptocurrency transactions.
According to the company's Wednesday earnings disclosure, revenue from crypto transactions decreased to $100 million compared to approximately $160 million during the same period last year. Total revenue expanded 32% on a year-over-year basis to $1.31 billion, as net income grew 48% to reach $573 million. Revenue derived from transactions surged 44% to $776 million.
The company disclosed $40 billion in notional cryptocurrency trading volume throughout the quarter. From this amount, $18 billion originated from the Robinhood application, representing a 35% decline compared to the previous year, whereas $22 billion was generated through Bitstamp, the cryptocurrency trading platform Robinhood completed acquiring in June 2025.
Robinhood's share price experienced a 3.15% decline on Wednesday prior to the company's quarterly earnings announcement, based on data from Yahoo Finance.
Robinhood expands crypto ecosystem
Notwithstanding the reduction in cryptocurrency trading income, Robinhood persistently expanded its blockchain and digital currency operations throughout the quarter, finalizing its purchase of Canadian cryptocurrency platform WonderFi while simultaneously expanding its digital asset product suite beyond traditional trading activities.
Following the conclusion of the quarter, the platform launched the public mainnet version of Robinhood Chain, rolled out tokenized US equities to qualified users across more than 120 nations and introduced its inaugural decentralized finance lending offering, Robinhood Earn.
Information from DefiLlama indicates that Robinhood's recently launched Ethereum layer-2 blockchain network achieved $348 million in total value locked as of Thursday, exceeding $500 million in stablecoin holdings and surpassing $1 billion in bridged digital assets.
Platform growth offsets crypto slowdown
Digital currency trading represented the sole major transaction segment to experience a downturn throughout the quarter.
According to Robinhood, expansion in event contracts, options trading and equity transactions more than compensated for the shortfall, as event contract revenue skyrocketed more than tenfold to reach $156 million, options revenue climbed 29% to $342 million and equities revenue increased 95% to $129 million.
The brokerage platform additionally announced record-breaking net deposits totaling $21.7 billion throughout the quarter, as aggregate platform assets expanded 32% year over year to $369 billion and customers with funded accounts increased 7% to 28.4 million.
The company reduced and tightened its 2026 projection for adjusted operating expenditures and share-based compensation to a range between $2.675 billion and $2.775 billion, down from the previous guidance of $2.7 billion to $2.825 billion. Adjusted EBITDA expanded 35% to $741 million, as total operating expenditures grew 33% to $734 million.