Key Points:

• Robinhood's Q4 2024 revenue surged 115% YoY to $1.01 billion, with net income soaring to $916 million.
• Robinhood crypto revenue skyrocketed 700% to $358 million, contributing to a 200% YoY rise in transaction-based revenue.
• The company expanded its product offerings, adding new cryptocurrencies and launching Ethereum staking in Europe.

Robinhood delivered record-breaking financial results in the fourth quarter of 2024, driven by a surge in cryptocurrency trading and strong transaction-based revenue growth.

Read more: Robinhood Crypto Rewards Launching in the New Year 2025 for Eligible Users 

Robinhood Crypto Revenue Increases 700% in Q4

The company reported total revenue of $1.01 billion, a 115% increase year-over-year and a 59% rise from the previous quarter. Following the earnings report, Robinhood’s stock hit a 52-week high in after-hours trading.

Crypto trading played a crucial role in Robinhood’s performance, with transaction volume surging 400% year-over-year to $70 billion. Robinhood crypto revenue skyrocketed 700% to $358 million, outpacing all other segments.

Meanwhile, options trading revenue climbed 83% to $222 million, and equity trading revenue rose 144% to $61 million, bringing the total transaction-based revenue to $672 million, a 200% annual increase.

Strategic Expansions Drive Future Market Opportunities

Robinhood crypto revenue credited its success not only to market trends, such as Bitcoin’s rally past $100,000 and increased institutional adoption, but also to strategic product expansions.

In Q4, Robinhood introduced seven new cryptocurrencies to its U.S. platform, launched Ethereum staking for European users, and announced plans for futures trading in Bitcoin, oil, and gold.

Robinhood also reported record net deposits of $16 billion in the fourth quarter. The number of Robinhood Gold subscribers expanded by 86% year-over-year, reaching 2.6 million members.