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Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for November 2022:
- Net Cumulative Funded Accounts (NCFA) at the end of November were 23.0 million, up approximately 40 thousand from October 2022. Monthly Active Users (MAU) at the end of November were 12.5 million, unchanged with the end of October 2022.
- Assets Under Custody (AUC) at the end of November were $70.2 billion, unchanged with the end of October 2022. Net Deposits were $1.7 billion in November, translating to a 28% annualized growth rate relative to October 2022 AUC. Over the last twelve months, Net Deposits were $18.9 billion, translating to an annual growth rate of 18% relative to November 2021 AUC.
- Notional Trading Volumes - which are the primary driver of transaction revenues - were higher in November for options and crypto from October 2022, and lower for equities. Equities were $44.7 billion (down 4%), Option contracts were 81.8 million (up 4%), and Cryptocurrencies were $5.7 billion (up 60%).
- Margin Balances at the end of November were $3.5 billion, down $0.3 billion from the end of October 2022. Cash Sweep Balances at the end of November were $5.0 billion, up $1.2 billion from the end of October 2022. Since the end of Q3, the $2.0 billion increase in cash sweep balances through the end of November was primarily driven by customers depositing cash following the introduction of the Gold cash sweep program, leading total Cash Held by Users to increase by $2.2 billion over the same period, from $8.1 billion to $10.3 billion.
| November 2022 | October 2022 | Change M/M | November 2021 | Change Y/Y | ||||||
| (M - in millions, B - in billions) | ||||||||||
| User Growth (M) | ||||||||||
| Net Cumulative Funded Accounts (NCFA) | 23.0 | 22.9 | 0 % | 22.7 | 1 % | |||||
| Engagement (M) | ||||||||||
| Monthly Active Users (MAU) | 12.5 | 12.5 | 0 % | 18.6 | -33 % | |||||
| Assets Under Custody (AUC) ($B) | ||||||||||
| Total AUC | $70.2 | $70.2 | 0 % | $107.5 | -35 % | |||||
| Cumulative Net Deposits | $89.1 | $87.5 | 2 % | $70.2 | 27 % | |||||
| Net Deposits | $1.7 | $1.6 | N/M | $1.9 | N/M | |||||
| Trading | ||||||||||
| Trading Days (equities and options) | 21 | 21 | 0 % | 21 | 0 % | |||||
| Total Trading Volumes | ||||||||||
| Equity ($B) | $44.7 | $46.7 | -4 % | $96.9 | -54 % | |||||
| Options contracts (M) | 81.8 | 78.7 | 4 % | 113.0 | -28 % | |||||
| Crypto ($B) | $5.7 | $3.5 | 60 % | $14.9 | -62 % | |||||
| Daily Average Revenue Trades (DARTs) (M) | ||||||||||
| Equity DARTs | 1.3 | 1.3 | 1% | 2.5 | -47% | |||||
| Option DARTs | 0.6 | 0.6 | 1% | 0.9 | -41% | |||||
| Crypto DARTs | 0.3 | 0.2 | 40% | 0.5 | -37% | |||||
| Customer Margin and Cash Sweep Balances ($B) | ||||||||||
| Margin Book | $3.5 | $3.8 | -7% | $6.6 | -47% | |||||
| Cash Sweep | $5.0 | $3.8 | 31 % | $2.3 | 119 % | |||||
For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics update, which is available on investors.robinhood.com.
The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.
