Adjusted operating expenses plus stock-based compensation increased only 6% year-over-year, leading to 56% adjusted EBITDA margins and 81% incremental adjusted EBITDA margins.
Assets under custody doubled year-over-year to more than $0.25 trillion, with average assets per funded customer surpassing $10,000 for the first time.
Bitstamp acquisition closed, adding a growing institutional business and over 600,000 international customers.
Earnings per share doubled from a year ago.
Interest-earning assets increased over 50%, driven by cash sweep, margin, and securities lending activities, with Gold cash sweep balances crossing $30 billion.
Net deposits remained strong with the third highest quarter ever, exceeding $10 billion for six consecutive quarters and continuing momentum into July with around $6 billion in net deposits.
Retirement assets exceeded $20 billion, more than doubling in the past year.
Revenue grew 45% year-over-year to nearly $1 billion in Q2 2025, driven by strong business growth and record trading volumes across equities, options, prediction markets, index options, and futures.
Robinhood Gold subscribers reached a record 3.5 million, representing 13% adoption overall and over 35% adoption among new customers in Q2.
Robinhood Strategies grew to over 100,000 funded customers and $0.5 billion in assets shortly after launch.
Dafinchi