Robinhood Q2 net loss $295M ($0.34 EPS); revenue $318M, up 6% QoQ; lays off ~780 employees

Robinhood Markets, Inc.

2022-Q2 EPS reported -$0.79 revenue$617,000,000

Net loss $295M ($0.34 diluted EPS) vs $392M loss ($0.45) in Q1; revenue $318M, up 6% sequentially.
Transaction-based revenue $202M (-7% QoQ); options $113M (-11%), crypto $58M (+7%), equities $29M (-19%).
MAU fell to 14.0M (down 1.9M QoQ); AUC $64.2B (-31% QoQ) driven by lower market valuations.
August workforce reduction of ~780 employees (~23% of full-time staff); estimated $30-40M cash restructuring charges.
CPO Chennapragada steps down effective Aug 2; advisory role through Jan 2, 2023; receives $550K severance.

item 2.02 item 2.05 item 5.02 item 9.01

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Departed

Aparna Chennapragada

Chief Product Officer

HOOD · Robinhood Markets, Inc.

Effective: 2022-08-02
Filed: August 2, 2022, 7:59 PM ET

Ms. Chennapragada is stepping down as the Chief Product Officer, effective August 2, 2022, and will remain employed in an advisory role to the CEO or his designee through January 2, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Aparna Chennapragada departed as Chief Product Officer at Robinhood Markets, Inc..

Action: stepping down
Role: Chief Product Officer

Exact text from the filing

Ms. Chennapragada is stepping down as the Chief Product Officer, effective August 2, 2022, and will remain employed in an advisory role to the CEO or his designee through January 2, 2023.

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Robinhood Markets, Inc. filing history →

Source: SEC EDGAR

accession 0001783879-22-000162

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