Robinhood Q4 net revenues up 5% QoQ; co-founders cancel $485M in RSUs; board OKs share buyback from Emergent

Robinhood Markets, Inc.

Q4 total net revenues $380M, up 5% sequentially; net loss $166M (-$0.19 EPS).
Co-founders Vlad Tenev and Baiju Bhatt cancelled 35.5M unvested RSUs, creating ~$485M one-time charge but reducing future quarterly SBC by up to $50M.
Board authorized pursuing purchase of up to 55M shares from Emergent Fidelity, bought in May 2022; no guarantee.
Full-year 2023 GAAP operating expense guidance $2.375B-$2.515B, including the $485M charge.
Adjusted EBITDA positive $82M in Q4 vs negative prior quarters; net deposits $4.8B.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Robinhood Markets, Inc. reported full year of 2022 results: revenue $1.36 billion, net income -$1.03 billion, EPS -$1.17.

Period: full year of 2022
Revenue: $1.36 billion
Net income: -$1.03 billion
EPS: -$1.17
Result: reported results

Exact text from the filing

Full Year Results: • Total net revenues were $1.36 billion. • Net loss was $1.03 billion , or EPS -$1.17 per share.

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Robinhood Markets, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-002760

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