Robinhood disclosed $1.28 billion in fourth-quarter revenue on Thursday, snapping a streak of earnings beats amid a recent downturn in crypto markets.
The company posted a 27% increase in revenue compared to the same period a year ago, but below analysts’ expectations of $1.35 billion.
Net income fell 33% year-over-year to $605 million, or 66 cents per share. Wall Street analysts expected the retail brokerage to report an earnings per share of 67 cents.
“Our vision hasn’t changed: we are building the financial superapp,” Robinhood CEO Vlad Tenev said in a statement.
The company disclosed $221 million in fourth-quarter revenue from crypto transactions, marking a slowdown from $268 million the previous quarter. The cooldown came amid plunging crypto prices, marking a 38% decrease compared to the same period last year.
Robinhood said that transaction-based income, which makes up a bulk of its sales, came in at $776 million for the quarter, representing a sequential increase from $730 million.
Although crypto traders pulled back on Robinhood’s platform, the company said traders exchanged 12 billion event contracts on its platform in 2025, with continued momentum.
Prediction markets have emerged as a bright spot for Robinhood since it unveiled Kalshi-powered prediction markets last March. At an event in December, Tenev described prediction markets as the firm’s “fastest-growing product line by revenue ever.”
Robinhood popularized a commission-free model for trading stocks and crypto, but it charges customers a one-cent fee on transactions involving prediction markets.
