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Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported selected monthly operating data for January 2023:
- Net Cumulative Funded Accounts (NCFA) at the end of January were 23.0 million, up approximately 60 thousand from December 2022(1). Monthly Active Users (MAU) at the end of January were 12.0 million, up 600 thousand from December 2022.
- Assets Under Custody (AUC) at the end of January were $74.7 billion, up 20% from the end of December 2022. Net Deposits were $1.4 billion in January, translating to a 27% annualized growth rate relative to December 2022 AUC. Over the last twelve months, Net Deposits were $16.9 billion, translating to an annual growth rate of 19% relative to January 2022 AUC.
- Notional Trading Volumes - which are the primary driver of transaction revenues - were higher in January for equities, options, and crypto from December 2022. Equities were $46.0 billion (up 19%), Option contracts were 82.9 million (up 10%), and Cryptocurrencies were $3.7 billion (up 95%).
- Margin Balances at the end of January were $3.0 billion, down $0.1 billion from the end of December 2022.
- Cash Sweep Balances at the end of January were $7.1 billion, up $1.3 billion from the end of December 2022. Of the $7.1 billion, $6.0 billion were in Gold accounts, which were up $1.2 billion from the end of December 2022.
| January 2023 | December 2022 | Change M/M | January 2022 | Change Y/Y | |
| (M - in millions, B - in billions) | |||||
| User Growth (M) | |||||
| Net Cumulative Funded Accounts (NCFA) | 23.0 | 23.0 | 0 % | 22.7 | 1 % |
| Engagement (M) | |||||
| Monthly Active Users (MAU) | 12.0 | 11.4 | 5 % | 17.3 | -31 % |
| Assets Under Custody (AUC) ($B) | |||||
| Total AUC | $74.7 | $62.2 | 20 % | $86.8 | -14 % |
| Net Deposits | $1.4 | $1.6 | N/M | $2.9 | N/M |
| Trading | |||||
| Trading Days (equities and options) | 20 | 21 | -5 % | 20 | 0 % |
| Notional Trading Volumes | |||||
| Equity ($B) | $46.0 | $38.6 | 19 % | $60.5 | -24 % |
| Options contracts (M) | 82.9 | 75.3 | 10 % | $78.0 | 6 % |
| Crypto ($B) | $3.7 | $1.9 | 95 % | $9.1 | -59 % |
| Daily Average Revenue Trades (DARTs) (M) | |||||
| Equity DARTs | 1.5 | 1.4 | 3% | 1.9 | -21% |
| Option DARTs | 0.6 | 0.5 | 15% | 0.7 | -17% |
| Crypto DARTs | 0.3 | 0.2 | 37% | 0.4 | -36% |
| Customer Margin and Cash Sweep Balances ($B) | |||||
| Margin Book | $3.0 | $3.1 | -2% | $5.5 | -45% |
| Cash Sweep | $7.1 | $5.8 | 21 % | $2.1 | 238 % |
(1) Net Cumulative Funded Accounts (NCFAs) only includes unique users and does not reflect existing customers opening multiple accounts.
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.
