Robinhood Revenue and Usage Statistics (2024)

What is Robinhood app?

Robinhood is a popular commission-free stock trading and investing app letting users understand the financial markets, invest in stocks, options, and ETFs (funds), and manage portfolios in a single app. Founded in 2013 in San Francisco, the trading and investing app offers plenty of products under the Robinhood umbrella for different customer needs. 

Robinhood Products

Robinhood Stocks & Funds: helping users invest in individual companies or bundles of investments (ETFs)

Robinhood Options: enabling commission-fee options trading, with no per-contract fees.  Users can manage their options easily and execute sophisticated strategies including iron condors, straddles, and strangles.  

Cash Management: providing 0.30% annual percentage yield (APY) based on uninvested cash in a brokerage account. Users are not required to have account minimums, pay transfer fees and foreign transaction fees. 

Robinhood Crypto: enabling users to buy and sell cryptocurrencies including Bitcoin, Ethereum, and Dogecoin, for commission-free.Robinhood Gold: is Robinhood’s paid subscription package starting at $5/mo. Via Robinhood Gold, users can access professional research reports, trade on margin giving extra buying power and less time waiting to access deposited funds, and make $5K – $50K instant deposits.

Robinhood Company Overview

HeadquarterMenlo Park, California
PlatformsMobile, PC, Tablets
Number of Employees1500+
Founded Date2013
FoundersBaiju Bhatt, Vlad Tenev
Crunchbase ProfileProfile Link
Google PlayStore Link
App StoreStore Link

How Robinhood Makes Money

Robinhood generates revenue from the following channels:

  • Robinhood Gold, its monthly paid subscription package starting a $5/mo
  • Interchange fees from purchases made with the Cash Management debit card and fees from program banks
  • Rebates from market makers and trading venues
  • Income generated from cash
  • Stock loan income from counterparties

Robinhood Revenue Statistics

  • In June 2024, Robinhood announced the acquisition of crypto exchange Bitstamp for $200 million.
  • In June 2023, Robinhood announced that has entered into an agreement to acquire San Francisco-based X1 Inc. (“X1”), a platform that offers a no-fee credit card with rewards on each purchase. 
  • Robinhood revenue for Q1 2024 was $618 million, up 40% year-over-year. Its transaction-based revenues increased 59% YoY to $2329 million for the first quarter. Net loss was $511 million, or EPS of -$0.57.
Robinhood Revenue
Q1 2024$618 million
Q4 2023$471 million
Q3 2023$467 million
Q2 2023$486 million
Q1 2023$441 million
Q4 2022$380 million
Q3 2022$361 million
Q2 2022$318 million
Q1 2022$299 million
Q4 2021$363 million
Q3 2021$365 million
Q2 2021$565 million
Q1 2021$522 million
Q4 2020$318 million
Q3 2020$270 million
Q2 2020$244 million
Q1 2020$128 million
  • For the full year 2023, Robinhood revenue was $1.87 billion, up 37% year-over-year.
  • Robinhood reported an ARPU (average revenue per user) of $104 for Q1 2024, up 35% year-over-year.
Robinhood ARPU
Q1 2024$104
Q4 2023$81
Q3 2023$80
Q2 2023$84
Q1 2023$77
Q4 2022$66
Q3 2022$63
Q2 2022$56
Q1 2022$53
Q4 2021$64
Q3 2021$65
Q2 2021$112
Q1 2021$103
  • (29.07.2021) Robinhood ended its first day as a public company 8.4% below its initial public offering price. The shares, which opened at the $38 offer price, closed at $34.82 in New York, giving the company a market value of $29 billion. (Bloomberg)
  • In August 2020, Robinhood’s valuation reached $11.2 billion following a $200 million funding round, up by nearly one third from a previous injection of funds just a month ago. (Financial Times)
  • In September 2020, Robinhood raised additional $460 million Series G funding, at an $11.7 billion post-money valuation. (Techcrunch)

Robinhood User Statistics

  • Robinhood’s monthly active users increased 16% year-over-year to 13.7 million for the first quarter of 2024.
  • Net cumulative funded accounts on Robinhood for the first quarter of 2024 was 23.9 million, an increase of 810 thousand.
Net Cumulative Funded Accounts
Q1 202423.9 million
Q4 202323.4 million
Q3 202323.3 million
Q2 202323.2 million
Q1 202323.1 million
Q4 202223 million
Q3 202222.9 million
Q2 202222.9 million
Q1 202222.8 million
Q4 202122.7 million
Q3 202122.4 million
Q2 202122.5 million
Q1 202122.7 million
  • Robinhood app was downloaded 2.1 million times in the US on the Google Play Store and Apple’s App Store in the week to January 31, 2021 according to data from Sensor Tower. This marks a 394% jump from the previous week for the San Francisco-based online broker. (Insider)
  • In January 28, 2021, the trending investment & trading app Robinhood rose to the #1 on the App Store for the first time ever since its release. While the app had its most single day downloads with over 120k first time installs, it also broke a new record with over 2.6 million daily active users.  (Mobile Marketing Reads)
  • In May 2020, the number of Robinhood accounts reached 13 million, up from 10 million at the end of 2019. (The New York Times
  • The time spent in Robinhood increased by 260% in the United States in April 2020, due to COVID-19.
  • An average customer age of Robinhood is 31 and half of its customers had never invested before. (The New York Times
  • Robinhood capitalized on the market volatility surrounding the coronavirus in March, seeing weekly U.S. App Store downloads surpass 400K in consecutive weeks. (Sensor Tower)
  • In Q1 2020, Robinhood users traded nine times as many shares as E-Trade customers, and 40 times as many shares as Charles Schwab customers, per dollar in the average customer account in the most recent quarter. (The New York Times
  • In June 2020, a 20-year-old Robinhood customer died by suicide after he mistakenly thought he had lost $730,000 on a Robinhood trade. (Forbes)

Written by Jordan Bevan


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