---
schema_version: "secwatch.filing_event.v1"
accession: "0001783879-23-000116"
form_type: "8-K"
ticker: "HOOD"
cik: "0001783879"
company_name: "Robinhood Markets, Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:49:51.539290+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Robinhood Q1 rev $441M (+16% seq); net loss $511M; launches 24hr trading; guides FY op ex lower

## Summary
- Total net revenues $441M, up 16% sequentially; transaction rev $207M (options $133M, equities $27M), net interest $208M.
- Net loss $511M (EPS -$0.57) vs Q4 loss $166M (-$0.19); includes $485M one-time SBC charge from 2021 Founders Award Cancellation.
- Adjusted EBITDA $115M, up 40% sequentially; AUC $78B (+26%), net deposits $4.4B (29% annualized growth rate).
- FY 2023 GAAP op ex guidance improved to $2.345B-$2.485B (down $30M from prior outlook); SBC guided $925M-$1.005B.
- Launched 24 Hour Market for individual stocks; applied for Futures Commission Merchant license; UK brokerage on track for year-end.

## SEC filing metadata
- accession: 0001783879-23-000116
- form_type: 8-K
- ticker: HOOD
- cik: 0001783879
- company_name: Robinhood Markets, Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000116/0001783879-23-000116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000116/hood-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001783879-23-000116
- JSON: https://secwatch.observer/filing/0001783879-23-000116.json
- Plain text: https://secwatch.observer/filing/0001783879-23-000116.txt

## Key facts
- Earnings Releases
  Robinhood Markets, Inc. reported first quarter of 2023 (quarter ended March 31, 2023) results: revenue $441 million, net income -$511 million, EPS -$0.57.
  - Period: first quarter of 2023 (quarter ended March 31, 2023)
  - Revenue: $441 million
  - Net income: -$511 million
  - EPS: -$0.57
  - Result: reported results
  source text: First Quarter Results: • Total net revenues increased 16% sequentially to $441 million. • Transaction-based revenues increased 11% sequentially to $207 million. ◦ Options increased 7% to $133 million. ◦ Cryptocurrencies decreased 1% to $38 million. ◦ Equities increased 29% to $27 million. • Net interest revenue increased 25% sequentially to $208 million, driven by growth in interest earning assets, increased securities lending activity, and higher short-term interest rates. • Net loss was $511 million, or earnings per share (EPS) of -$0.57, compared with net loss of $166 million, or EPS of -$0.19, in Q4 2022, a sequential decrease of $345 million or $0.38 per share .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000116/0001783879-23-000116-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.